VeChain is creating a lot of buzz in the market with its new announcements including listing and VeChain Thor blockchain that is expected to take VET price sky high.
Note: VEN token has been rebranded to VET token.
VET coin to get new listing & VeChain Thor
After joining the auditing giant PwC in a strategic partnership at the beginning of this month, VeChain is moving onto making some big moves. Over the past few days, VeChain has been a lot in the news.
The most recent development is in the form of a new listing. Zebpay, an Indian cryptocurrency exchange confirmed that it is going to list VET on its platform.
“Introducing VeChain on Zebpay! VET wallets are now open. Trading to start at 1PM (IST) on 22nd May 2018. Move your VET to your Zebpay wallet ASAP to avoid facing delays in transferring VET after trading starts.”
The newly released “Development Plan and Whitepaper” of VeChain is the testament of how far along they have come. This renewed roadmap will be making considerable changes to its network.
According to the updates, a new token rewards system would be introduced via a new blockchain called VeChainThor which is the “next generation of public blockchains”. The whitepaper points out that:
“VeChainThor humbly stands on the previous discoveries of Ethereum (Blockchain 2.0) and Bitcoin (Blockchain 1.0). Because of them, we have been able to design a complete, holistic blockchain with the governance structure, token economics, regulatory compliance, and community ecosystem to continually and incrementally evolve the blockchain protocol to absorb any innovation and satisfy the needs of the community, investors, enterprise clients, and academic and governmental partners.”
Developments & targeting various industries
With these new developments, VeChain is planning to target a wide array of industries viz. IoT, Fashion and Luxury, Blockchain IDs, Government Affairs, and Supply Chain Logistics among many others.
In Fashion and Luxury area, VeChain will work on a solution that will cover the life cycle of products. By combining blockchain and IoT technology new supply chain will be developed.
Currently, VeChain is conducting its Public Alpha Test among 100 community testers. In the anticipation of the release of VeChainThor’s (VET) MainNet version, Plair project is planning to launch its ICO on the platform on May 25 which will be the first ICO on the new blockchain.
According to the Coinmarketcap, VeChain is sitting at 16th position with a market cap of $2.3 billion. Today has been a pretty unsettling day for VeChain as starting the day at roughly around $4.55, it went down to $4.38 price level. Experiencing the $4.59 mark at one point, at the time of writing it got down to $4.41.
There is a lot of positive news surrounding VeChain that is likely to impact its prices with an upward trend. With such big changes coming up, as we have seen in the past, it can easily skyrocket VET prices.
Do you think the announcements will lead VET price to reach $10 level? Share your thoughts with us!