VeChain (VEN) is nearing the launch of its new network, but the date depends on performing comprehensive security checks.
https://twitter.com/vechainofficial/status/1009707722541940736
VeChain will migrate its VEN digital asset to the new VET token on a 1:100 basis, to achieve more intuitive pricing and more usability within the network. The VET asset will also pay out VeThor rewards for staking the coins in several tiers of nodes.
VeChain is also participating in the competition between networks, though not with the same enmity and challenges toward Ethereum. Other promising networks with various forms of nodes and staking include QTUM, Stellar, NEO, NEM, and more recently, EOS and TRON. All of those projects are viewed as extremely promising and longer-lasting, with a guaranteed use case and as a source of additional distributed apps or real-world solutions.
VeChain is a project dealing with the applied business side of distributed ledger technologies, planning solutions in logistics and the Internet of Things.
VEN, the preliminary token, has appreciated by more than 10% in the past week, to $3.19. VEN has had its peaks and valleys, but the price has become smoother over time, and volumes are consistently higher. VeChain is one of the assets traded against Bitcoin, hence the relatively depressed price, based on the positions of BTC.
!veChain!
In the long term, the success and demand for VEN/VET, and the usage of the THOR rewards will depend on the running of distributed apps. Recently, VeChain partnered with Esprezzo, a tool that would allow third parties to build apps more easily.
https://twitter.com/vechainofficial/status/1009427345696960512
VeChain itself will have to prove the feasibility of its use cases in shipping valuable goods.
This article appeared first on Cryptovest
