The VeChain platform provides users with blockchain as a service that helps create “a robust distributed business ecosystem that enables seamless communication, efficient collaboration, and high-speed valuation.” Several industries (including luxury, agriculture) and government organizations are already using the VeChain.
Ultimately, VET uses a combination of blockchain technology and its own smart chip for logistics supply chain components. Other advantages of VeChain include:
1. the Proof-of-Authority algorithm for storing the details of each transaction on the network;
2. high scalability;
3. the ability to create side chains;
4. high speed transactions;
5. backup capability.
VeChain coin is one of those cryptocurrencies that have a specific market niche and are developed to provide specific services for specific use cases. VeChain’s market cap is one of the largest on the market it vechain.
Their system allows you to study and confirm or deny the authenticity of goods. It is popular in terms of alcoholic beverages or cars. In the case of alcoholic beverages, the VeChain blockchain provides a service that can track each bottle at different stages of production, such as transportation, import and delivery to the consumer. In this way, businesses and customers protect themselves from counterfeiting.
The platform is designed to interact with all market sectors, both B2B (business to business) and B2C (business to consumer):
• Manufacturers can track sales channels in real time by tagging each product with a unique numeric identifier.
• Consumers are able to verify the quality and authenticity of a product and receive all information about it by scanning a numeric ID through a mobile application.
Price prediction 2021
This blockchain project is very flexible and has many uses. However, they also believe that VeChain may be more volatile even with the overall market rally, as it has recently become less well-known when compared to the most popular cryptocurrencies.
As you can see, most of the opinions regarding vechain price prediction 2021
Not the best performance in the future. This comes against the backdrop of recognizing the team’s experience, solution flexibility, and past performance.
Why VeChain Can Be A Good Investment?
VeChain’s future will depend entirely on the success of Thor’s transformation into a finished product that competes with existing alternatives.
Let’s take a look at the reasons why VeChain cryptocurrency can be a good investment.
The biggest advantage is its partnerships with many companies and real applications. On the other hand, the project needs to prove the correctness of the development emphasis made on Vechain Thor. Digital Coin Price predicts the average VeChain price will rise 300% in 2024 to reach $ 0.0378.
VeChain already has partnerships with giant companies including BMW, Walmart China, and many more. The platform operates on a unique consensus algorithm that helps make important decisions in the community since voting and fast transactions are the features of this blockchain. VET cryptocurrency may show tremendous growth in popularity and value in the future.