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The VeChain cryptocurrency platform was created to optimize the supply chain. Like many other projects, VeChain was originally launched on the basis of the Ethereum blockchain. This method has already become a classic business tactic. The Ethereum-based blockchain provides an opportunity to demonstrate an idea in action and raise funds for its further development.
Now VeChain operates on its own VeChainThor blockchain and develops its own ecosystem. The first-level blockchain provides more technical opportunities for the implementation of enterprise-level client-oriented functions.
Why VeChain was created
VeChain was one of the first blockchain platforms designed to meet the needs of the manufacturing business. It is a smart contract platform that integrates blockchain technology with the real economy. The power of blockchain is used to manage supply chains and increase the viability of business processes.
A distinctive feature of the VeChain blockchain is the highly scalable Proof-of-Authority (PoA) consensus mechanism. The project turned out to be quite interesting and now H&M, BMW, Haier, Walmart China, BYD Auto and other companies are cooperating with it.
VeChain Token (VET)
At the time of the announcement of the ICO, the VEN token was created. Later, after rebranding, it was renamed VET. The exchange of VEN to VET was carried out using the VeChainThor wallet at the rate of 1:100.
The token is used to transfer value in the blockchain, as well as interactions with smart contracts and Dapps
Introduction and adoption of VeChain
“Everything is connected” is the name of the VeChain implementation campaign. This name is ideal for promoting a platform designed to optimize the links in production chains.
The company seeks to establish partnerships with major players in various sectors of the economy. It is significant that the first clients of the platform were well-known representatives of the fashion industry.
The efforts of the team bring recognition. Representatives of the hedge fund Grayscale said that the list of tokens that will be added to the investment portfolio. VET is also on the list. This indicates that the team is moving in the right direction.
The VeChain Adoption Expansion Fund is planning to launch its own dollar-denominated stablecoin. A stable digital asset will make it easier to integrate the platform into the DeFi ecosystem and provide an incentive for further adoption.
VeChain (VET) Price Prediction
Any relationship starts with an acquaintance. Before choosing an asset to replenish your investment portfolio, you need to have a good idea of the prospects for future investments.
VeChain Price Prediction for 2022
On the VET price chart, there are cycles of rising and falling prices. At the moment, the coin is trading at $0.06, which could be a good entry point. According to experts from Investor Wallet and Digitalcoinprice, the price of VET in 2022 can reach the level of $0.17-0.19.
VeChain Price Prediction for 2025
The prospects for further growth of the coin depend both on the adoption of cryptocurrencies in general, and on the further actions of the VET implementation team. The opinions of experts on a more distant perspective differ. In the most optimistic forecasts, the possible price will be around $2. Investor Wallet believes that in 2025 the coin can reach the level of $0.75. Digitalcoinprice are more cautious, citing $0.35 as achievable.
VeChain price prediction for 2030
The network was originally created for subsequent integration into the business ecosystem. VeChain price prediction 2030 takes this into account. With full integration into the existing corporate environment, it is quite possible that the price of the coin will reach $5 in 2030.
Main Editor in Hooks.Guide, Embedded Software Engineer.