Crypto enthusiasts are well aware of the VeChain (VET) project since it’s one of the most successful Chinese digital currencies in the crypto space. After becoming world’s hot topics for conversation, investors are flocking towards crypto markets despite the looming regulations and volatility of the market. The reason why everybody is going on board with VeChain is that it is deemed as a solid blockchain project having definite goals and also because of its one of those projects which keep making progress and do not depend on the market’s trend. With its Thor blockchain release, VeChain seems to be ready for a bullish rally once Bitcoin recovers and hits $8000 USD. In this article, we shall discuss the recent activities by VeChain and how it’ll affect VET markets.
About VeChain and VeChain Thor
VeChain is one of the oldest companies to exist in the crypto world. It was established back in 2015 in Singapore. VeChain is a decentralized smart contract platform which focusses on improving the management process of supply chains. VeChain has bagged many bigshot investors and a huge dedicated community to support its project over the years. VeChain has also several major partnerships with other companies. Their blockchain app has found application in agriculture, winemaking, and luxury items. The VeChain team has been planning for a rebranding of VeChain to VeChain Thor. This update has kept VeChain traders and its community members on their toes. Since its going to be a big update for the entire platform, analysts believe that VET might show signs of new peak position in the days to come. This rebranding will also serve as an upgrade to VeChain blockchain’s functionality and make it similar to Ethereum’s platform.
The team behind VeChain is always busy making progress in order to make the platform better and efficient from all other competitors. VeChain remains constantly in news for its collaboration with different companies and its preparation for the release of VeChain Thor blockchain.
Partnership with DECENT.bet:
In the last week of May, they announced a strategic partnership with DECENT.bet which is going to be the first mainnet on VeChain Thor platform later on. DECENT.bet is a smart contract based, sports betting platform whose goal is to revolutionize the gaming industry. In their official announcement, DECENT.bet has clearly commented that according to their team, VeChain is the necessity of the future and ideal for those which are frustrated with Ethereum.
Partnership with MustangChain
A new blockchain project which goes by the name of MustangChain has recently announced choosing VeChain thor blockchain for their project due to its technological benefits for execution of transactions, ownership of data, collaboration and IoT integration which is quite adaptable for their project.
- Collaboration with SlowMist to Secure VeChain Thor
Lately, VeChain has been boosting the security testing collaboration before the Mainnet occurs. After the recent hacking incidents of Bitcoin Gold and ZenCash, VeChain has probably plans to guarantee the safety of their platform so that the launch of VeChain Thor goes smoothly. As for now, VeChain has made security as their foremost priority. VeChain has made third parties responsible for security alpha testing, checking the code and editing where necessary and also guarantee the safety of wallet. VeChain has sealed partnerships with the following companies;
This company already has a background in blockchain security and global reputation. After partnering with VeChain, it’ll aid in developing a secure network for its launch.
Hosho is a renowned blockchain security specialist and they’ve worked for several fortune 500 companies and they’re currently working primarily on blockchain security as well as smart contracts.
SlowMist is known for its expertise in cyber security but with their partnership with VeChain, they have entered the world of blockchain security. Their specialty lies in working for security audits, creating a defense system against hacking and they’ll be responsible for keeping VeChain Thor blockchain hacker-free.
- Bug Bounty Program Launched at Hackenproof
Hackenproof is better known as the leading tokenized crowdsourced bounty platform where people are rewarded for exposing vulnerabilities in a certain platform. VeChain has also declared starting a private bug bounty on Hackenproof. This step was clearly taken to search and destroy any remaining vulnerabilities in the alpha stage of VeChain Thor blockchain.
- Current Trading Position
Due to the current sluggish improvement in Bitcoin prices, major altcoins are seeming to be struggling to shake off the negative trend on their price indicator. Although, VeChain is ranked as 16th largest cryptocurrency in the world at the time of writing it is still experiencing a price drop of 5.13% and is trading at around $3.85 USD per token. The total market capitalization is close to $2.02 billion USD and an approximate of $88.30 million USD worth VET tokens have exchanged hands within past 24 hours according to the data on CoinMarketCap.
- Final Thoughts
VeChain community is sure of VET’s recovery due to VeChain Thor blockchain and the constant milestone completion by VeChain’s team. There’s no doubt that being security focussed at a time like this will reward VeChain investors. It’s just a matter of time for VeChain markets to take over the crypto space.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
How Can Foreigners Get Loans in Singapore
Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.
At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary.
What defines a foreigner in Singapore?
A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also…
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…