Cryptocurrency

VeChain in review – Breaking News

When we speak of cryptocurrencies, is a common point between the crypto users mention as the same are revolutionizing the economy. But this is not so easy to see, after all, How a virtual currency can have an effect on the real economy? And it is this direct relationship between these things, where it focuses VeChain, our currency of the day today.

Basic Data

Name: VeChain
Abbreviation: VET
Year of release: 2017
Circulating volume: 55.454.734.800 VET
Price today: 0,005 dollars
Market capitalization: 283.274.799 dollars (31avo post)

Source: beyond the Internet

Our criptomoneda, the VeChain, was launched in the year 2017 through an Initial Coin Offering. However, the company behind its release, also called VeChain, was one of the first companies dedicated to the cryptocurrencies. Being founded in the year 2015. VeChain born in a first moment as a token ERC-20, embedded in the platform Ethereum. What has come to be a popular choice among cryptocurrencies, who do not seek objectives that require a Blockchain. But rather, they offer distinct functionalities for various sectors. However, in the year 2018 VeChain decided that his criptomoneda required its own chain of blocks to work. Thus was born the VET as a currency independent of all others. Dividing the tokens total VET with 41% for those who participated in the ICO, 23% for investors in the business. 12% would be for system maintenance, 9% to private investors. 10% in commercial implementations, and finally 5% for the development team and co-founders. VeChain has had up to now, the luck of counting with a solid company that supports it. With more than 150 employees are engaged in the organization. It also has provided him with the strength to venture out in multiple sectors beyond the industry of luxury. His main goal initially.

The role of the VET

VeChain form part of the group of cryptocurrencies business. Dedicated above all to provide solutions for businesses that want to take advantage of the technology Blockchain. Allowing them to carry out activities that require chains of blocks, without the need to create one from scratch. And is that, usually when we refer to the technology Blockchain. We talked about the multiple uses that have chains of blocks in real life. From tracking the route of goods and services, such as food, starting with the producer until the moment you arrive at the place of destination. To make measurements of all kinds, and securely store sensitive data. However, we do not usually question what is the exact mechanism that would be used by companies to achieve these feats. And that is what gives us VeChain. A platform already created, which allows companies to achieve their crypto projects.

What have you achieved until now?

VeChain has achieved the creation of a currency business with important features. Among them, for their security, reliability and scalability. Which has led to the formation of institutional partnerships with several major companies in the world. Thus, we see a VET working with greats from the world of business as PriceWaterhouseCoopers (PwC). With companies more modest, at least in terms of reputation as Shanghai Waigaoqiao Direct Imported Goods Sales Center Ltd. And of course with local governments as the government of Gui”an in China. And of course, these alliances would not be possible without a wide range of services offered by VeChain. Among which, the main ones are the authentication, data storage and analysis. As well as the management of storage of products, logistics, and confirmations of property by vía digital. All this has allowed the approach of the technology Blockchain the physical world. Can be used to VeChain even for the authentication of an automobile and the parts that compose it. Identifying when a piece is not original, and measuring their quality.

Challenges

The challenges of a currency business as VeChain are radically different to those of the cryptocurrencies usual. Thus, while the criptoactivos oriented to the public in general rely on to advance in the overcrowding. In the case of VeChain the progress is closely related to the contacts that you have and continue to strengthen. Therefore, VeChain you need to arrive at the manufacturing companies, carriers, commercial, energy, etc, And show them that your product is much better than the competition. And that, therefore, worthwhile, to sign an agreement with VeChain. This is of vital importance, especially when VeChain facing the presence of a rival in their own sector. We refer to WaltonChain, the currency that you pisaría the heels of the VET. And, while not possessing the same strength in the market that VeChain, is a rival to consider. All this at the same time that VeChain is faced with the challenge of the governance of its Blockchain. Establishing a mixed model of administration to the middle horse between centralization and decentralization. Similar in that sense to XRP, the currency business of Ripple.

Main Wallets

As the majority of the cryptocurrencies, VeChain has several possibilities to be stored. Being supported by the wallets Ledger, Trust Wallet, and Atomic, as well as your own digital wallet dedicated, VeChainThor Wallet.

Conclusions

See cryptocurrencies as VeChain is a good news. Mainly because they are the living representation of what it means to the Fourth Industrial Revolution. That is to say, the erasure of the barrier between sectors, physical, biological, and digital. As VeChain, to have an impact in the real world from the web. In addition, the PROGRAM demonstrates the way in which the technology Blockchain can be leveraged by companies. Generating revenues and improve its processes thanks to the cryptocurrencies. Due to which ,VeChain has earned his place of honor within the crypto market, as a leader in its sector. The following two tabs change content below. Student of International Studies, interested in issues of economy and international politics. Passionate about the progress of the Fourth Industrial Revolution in general and the cryptocurrencies in particular.

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