Vechain’s Tech Update Unveils Massive Innovation, Is VET Poised for Price Explosion? Report
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- Among the popular VeChain products launched recently include VORJ, direct NFT marketplace integration, VeWorld walletconnect, and HardHat upgrades, among others.
- VET price has recorded diminished loss returns YTD, depicting a possible rebound from last year’s crypto bear market.
The growth of any digital assets during a crypto bull rally is heavily influenced by the fundamental aspects gained during the bear markets. As a result, most developers are busy building the infrastructure to help onboard more users amid the ongoing global digitization. Furthermore, more countries are enacting regulations to help businesses safely adopt blockchain technology and digital assets in a bid to scale their markets.
One of the top-rated blockchains, VeChainThor, which was developed by the VeChain team, has undeniably proved its capabilities to help onboard billions of people into the Web3 industry. Notably, VeChain has closely been working with global businesses, especially those in supply chain management, to streamline their operations for future growth prospects. For instance, VeChain is currently working with DHL and Walmart China to ensure credibility and authenticity in their supply chain networks.
A Closer Look at VeChain’s Recent Developments
In the past few years, hundreds of blockchains have emerged with users with multiple choices. The VeChain team has been developing tools to help mainstream users have an easy time opting for their services. Moreover, the Web3 industry is composed of sophisticated means of interaction through smart contracts that are not directly easy for everyone.
We just dropped the second installment of our #vechain tech update series!
Check out what our fast-growing dev teams have been working on this past month and get a glimpse at what’s to come.
Hint: It’s awesome.
Read: https://t.co/qj8RfsXQo0#vechain #crypto #buidl #web3 #VET pic.twitter.com/7bBVkhC2ua
— vechain (@vechainofficial) August 16, 2023
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On the top list is the Web3-as-a-Service platform dubbed VORJ, which is designed to offer businesses and individual developers a simple means to deploy digital assets or integrate blockchain-powered APIs with minimal coding experience. During the past few weeks, the VeChain developers have been working on the VORJ landing page to enable users to find all relevant resources, links, and guidance on the platform.
The VeChain developer team has also been working on the initial implementation of OpenZeppelin DAO contracts, whereby new features are expected to be available through the VORJ platform. The team is also working on a marketplace-as-a-service to allow enterprises to easily deploy customizable marketplaces to serve their needs. The developers are also working on a Ledger Live integration with the hardware wallet reviewing VeChain’s Pull Request.
“We hope to soon see the launch of vechain’s two main tokens, VET and VTHO, on Ledger Live, kicking off alongside a collaborative marketing campaign,” the company noted.
As for the VeWolrd wallet updates, the VeChain developers have been working on finalizing the WalletConnect integration, and Ledger Bluetooth integration. Meanwhile, the developers’ team has been working on a cross-chain token bridge with Ethereum with Hardhat at the back of the mind.
Market Outlook
The VeChain network uses two token systems, but VET is popular among most crypto investors. As a mid-cap altcoin with about $1.45 billion in fully diluted valuation, the VET price is well positioned to rally beyond its ATH in the next two years.
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