Whats Next For VeChain?
The value of VeChain (VEN) rocketed in the first month of June, but is there more to come?
Investors have stampeded to buy the VEN coin, following news that the big switch to its own blockchain is on the horizon.
VeChain is currently working as an ERC20 token, but it appears to be widely believed that the switch to Mainnet will be the start of big things for the coin.
Have investors missed the opportunity to invest, or is there more room for growth?
Below, we explore what the future could hold for VeChain.
A big few months for VeChain
VeChain (VEN) had arguably already established itself as the blockchain solution of choice for businesses looking to establish greater transparency and efficiency with their supply chain management. Yet, the developers aren’t resting on their laurels.
The big switch to the Mainnet blockchain is expected to be completed this month, while a number of key collaborations also look set to be finalized.
Many of these collaborations have been made in an effort to provide maximum security to the blockchain.
Among the companies working with VeChain are:
- Secureware: a blockchain security firm focusing on software development;
- Hosho: a security firm specializing in enterprise-grade security services for large and small companies;
- SlowMist: a company that faces on blockchain ecosystem security;
- Hackenproof: a global community of security researchers who work together to prevent cyber threats ahead of time.
In an official statement made on Medium: the company said: “We at VeChain take security seriously, and have placed the highest priority upon it. We believe true security requires the collaboration with outside forces, and to that extent, we have begun working with multiple security firms during our Mainnet testing.”
What next for VeChain?
The immediate focus for the VeChain will be a smooth transfer to the Mainnet blockchain. The switch will involve all VEN tokens switching to a new VET token. The team is preparing for “millions” of transactions to take place on the blockchain once it’s launched.
The next steps from there remain to be seen, but it appears VeChain’s developers won’t stop until this Cryptocurrency shoots to the moon.
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