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What Has VeChain Been Up to These Days?

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VeChain

VeChain has always been an enterprise-focused IoT and dApp platform for various products and information. The aim of this company is to successfully connect blockchain technology with the real world by providing the strong infrastructure using RFID and some other similar IoT technologies present. VeChain is famous for hitting headlines daily and its recent performance on CoinMarketCap made its fan/followers ask, ‘what is this project up to next?’ and ‘what to expect from VeChain?’. Undoubtedly, this project has been one of the most successful Chinese cryptocurrencies of all time and in this article, we shall find out what their team has been up to all this week.

About VeChain

The word ‘VeChain’ means ‘the only chain’ which shows the team’s objective to be the only one standing in the crypto market and rule over all the others. Many analysts have proclaimed that VeChain doesn’t seem to be an improved version of bitcoin, although its capability and features could name it ‘the IBM of blockchain’ soon enough. Their recent rebranding to VeChain Thor has led to the remodeling of economic structure to benefit their enterprise-focused platform. VeChain has both technical and business strength that helps in making it one of the most dependable blockchain project.

VeChain in Business

This project has made strong partnerships with famous and huge enterprises since the very beginning of its path. The company is now deeply rooted in its strong connection with the business sector’s biggest names. This way, VeChain made their lasting impression on every business-sector executive.

Their partners who do not need any sort of introduction are listed below:

  • China Unicom
  • BitOcean
  • Hyperledger
  • PwC
  • DNV GL
  • Renault
  • Microsoft
  • I.G

And according to VeChain’s team, there are more to come in future. Even the central government of China has eyed VeChain for a long time. The famed VeChain announcement of ‘national level partnership’ cleared all doubts regarding government’s increasing inclination towards the VeChain project. They got the chance to trail VeChain technology in the special government zone, Gui’an new area. Through the afore-mentioned partnerships, we can ascertain that VeChain is not only armed with a creative and genius team but also well-equipped with a brilliant business development plan.

VeChain in Technology:

In case of technology, VeChain is ahead of many other blockchain projects that have existed in the market. They’ve collaborated with the world’s leading RFID solutions providers for their hardware department aid and for chips which are specifically designed for being used on VeChain. They have a ’use-case first’ approach to design that has helped its 40+ developers team to reach the top cryptocurrencies with a transaction speed of 10,000 transactions per second. The company has tried its hands and tested the usability of their blockchain in industries of varying nature such as luxury goods, liquor, and even agriculture. All these use-cases have traversed beyond the proof-of-concept and have been launched on the global market already.

Recent Developments of VeChain Team:

  • VeChain Multi-Party Payment Protocol

VeChain’s development has been an accumulated result of its mass adoption of blockchain solutions by its partner companies/industries to solve some of the many real-world problems. Recently, the team has officially launched their new tools which are a technical solution for payment types and is being called ‘VeChain Multi-Party Payment Protocol’ or ‘MPP’ in short. This tool was made to facilitate transactions between multiple parties even if the data is being transferred from one non-token owner to another. Which means that the everyday users of the MPP will use VeChainThor blockchain without knowing it. The company has assured that the MPP does not result in any change in the end user experience.

  • VeChain and INPI Asia Unite Nanotech Digital Identity Solutions

On 22nd April, VeChain officially announced their recent collaboration with advanced digital identification and IoT device solutions developing and providing company, INPI ASIA. This company is famed to be one of the pioneers in digital identification by using a combination of nanotechnology, secure digital tech and photonics tech to create a new type of digital identification system which is being dubbed as NDCode™. This solution adds to the IoT market according to VeChain by adding nano identification within products and constructing a world of securely connected things. it enables high-level security with the addition of photonic property. This new solution will also unlock the untapped scalability potential while maintaining cost efficiency. When the VeChain blockchain will be combined with NDCode™ it’ll provide authenticated traceability, the capability of auditing for protection against any sort of data fraud on the server.

Conclusion

VeChain aims to be the worlds leading blockchain enterprise in terms of usability and performance. VeChain Thor platform is paving its way towards mass adoption. According to VeChain’s performance in the crypto markets for the past few days, it’s evident that this enterprise is growing in all aspects. It is currently ranked 16th on CoinMarketCap with an individual price of $3.64 USD while its total market capital rests at $1.9 billion USD. The VeChain platform still has a long way to go and make its rightful place within the top 10 largest cryptocurrencies of the world. So, till then its going to be interesting how it traverses the huge gap and become the so-called ‘IBM of blockchain’.

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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 J B via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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