Review of VeChain Cryptocurrency or How to Implement Blockchain Technology in Real Life? 1016

VeChain

The overwhelming majority of experienced investors are trying to dilute their portfolios with little-known, but promising coins, which, potentially, in the future, can give a good return. One of such very promising cryptocurrencies will be discussed in today’s material. So, the VeChain cryptocurrency, what project is it and why is it able to integrate blockchain into the offline?

Contents:
(please, click the topic to scroll down to it)

  1. What is the VeChain project?
  2. Hierarchy in the VeChain platform
  3. Platform functionality
  4. VeChain in figures
  5. Further forecasts for the VeChain project
  6. Conclusion

1. What is the VeChain project?

This project dates back to the distant 2015. At that time, Sunny Lu had assembled a team to develop a new decentralized platform, the main feature of which was the possibility of digitizing physical goods and listing them in a decentralized database. The development process took about two years, and last year the development team introduced a platform.

The main idea of ​​the project is to use the strengths of blockchain technology and introduce them into real life. Developers want to create a product that will make life easier for both sellers and buyers.

2. Hierarchy in the VeChain platform

The developers assure that they have created a business ecosystem in which all 6 types of users will be equally comfortable:

  • Companies – absolutely any business that involves the provision of goods or services.
  • Services that develop applications for combining users and solving a specific problem (Uber, Airbnb, etc.).
  • Developers of smart contracts.
  • Nodes are users who are responsible for the correct operation of the platform and confirmation of transactions.
  • Members of the VeChain Foundation are people who take an active part in the development of the project.
  • Other users are any users who interact with each other via a platform.

3. Platform functionality

  • Ability to digitize physical goods. To make this possible, the developers decided to use not only QR codes, but also NFC chips and RFID tags. Together, these technologies practically do not give an error. The product receives its unique number and is entered in the blockchain. In the register you can see all the necessary information about the product, learn its “history”, the manufacturer, the route through which it was delivered and much more.
  • Transfer of document flow and corporate information to the blockchain. This means that these data cannot be compromised, edited or deleted in any way.
  • The ability to write smart contracts that will allow platform participants to interact with each other, without the need for intermediaries.

4. VeChain in figures

  • The rate of VEN/USD is $0.0134;
  • Market capitalization – $738 million;
  • Total emission is 86 712 634 466 VEN;
  • Takes the 21st place in the global CoinMarketCap ranking.

5. Further forecasts for the VeChain project

It is worth noting that most market experts are positive about this coin. VeChain has every chance to grow in price several times in the next couple of years, for a number of reasons:

  • Strong team. The project involves more than 60 people, each of whom is a professional in their business. The main developer is Sunny Lu, who has been the technical director of Louis Vuitton for many years. The well-known Bo Shen, who at one time had a hand in creating ZCash, Qtum, etc.
  • Powerful partners. For obvious reasons, this project closely cooperates with such a brand as Louis Vuitton. Clothing is marked with NFC chips. One of the large companies that are partners of VeChain is the largest wine producer in China – DIG. The whole province in China (Guan) stores and processes a large amount of data in the VeChain blockchain.

Conspicuously, despite its young age, the project has already been successfully implemented in real life. This indicates good investment prospects.

6. Conclusion

The VeChain platform can truly introduce blockchain technology into real life, thus making life easier for both business and end users. It isn’t late to invest in this volatile digital token, because, with a favorable outcome, its growth is only ahead. Do not regard this asset as a short-term; the project needs time, in order to realize its full potential.

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Cryptocurrency Prices for the 17th of August: Is Ethereum Returning to the Green Zone? 191

crypto prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Cryptocurrency prices today, August 17

According to the online platform Coin360, Bitcоin (BTC) added 1.15% in the last 24 hours. The price at the time of writing is $6487 per coin.

crypto price chart

Cryptocurrencies are showing positive dynamics:

Bitcoin Cash added 2.21% over the past day and costs $537 per coin;

Ripple grew by 7.95%, and its price is $0.31;

EOS increased by 2.66%, and its value is $4.85;

Litecoin added 1.45% and costs $57;

Cardano became more expensive by 3.07% and is worth $0.099;

Stellar increased by 2.78%, and its cost $0.22;

IOTA grew by 5.29%, and its value is $0.48.

Ethereum added 3.05% in the past 24 hours. Its cost is $300 per coin.

The total market capitalization rose to $214 billion. Bitcoin accounts for 52.3% of the total volume. It is $111 billion in monetary terms.

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Buterin, Winklevoss and Others: The Future of the Digital Currency World According to Major Crypto Personalities 621

experts opinions on crypto

The crypto world has entered the new stage of its development, it has always been volatile, but these couple of weeks have been absolutely crazy: coins are jumping up and down, Bitcoin ETF is on its way, blockchain is taking over the world.

No doubt, crypto specialists and financial experts have a lot to say. Today we came up with a compilation of sayings from the stars of the cryptocurrency universe that we found particularly interesting and important.

The CEO of the crypto exchange Gemini, Tyler Winklevoss believes that the acceptance of cryptocurrency in the world as a means of payment equal to fiat will not happen in the next couple of years:

The vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.

Pantera Capital’s CEO is way more optimistic on this issue. He sees great potential in the blockchain technology, and digital coins, according to him, are “superior form of currency.

Ethereum’s founder Vitalik Buterin wants cryptocurrencies to become more user-friendly and common in the everyday life. He also thinks it may become possible only in case the proper regulatory framework for crypto is developed by the state governments.

I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash,” he said.

The last, but certainly not least, is the CEO of BitMEX, Arthur Hayes, who has some serious doubts concerning Ethereum. According to his calculations, the price of the world’s #2 coin will drop lower than $100.

It is this moment,” he added, “that Ether goes from a 3-digit to a 2-digit shitcoin.

Although we are sure that experts know what they are talking about, the crypto world is way too unpredictable. We can only wait and see whether the abovementioned predictions turn out to be true or not.

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Andreas Antonopoulos Criticized Bitcoin ETF 490

opinion on bitcoin etf

The well-known author of books about Bitcoin and the founder of his own Bitcoin-business Andreas Antonopoulos published a Youtube video where he expressed his opinion about Bitcoin ETF and explained why they cause so much sensation.

I’m going to burst your bubble. I know a lot of people really want to see an ETF happen because ‘too the moon’ and ‘lambos’ and all that. I think it’s a terrible idea. I still think it’s going to happen… I’m actually against ETFs,” he said.

Antonopoulos explained that he understands why many people are so impressed by the idea of Bitcoin ETF:

Everybody’s so excited about ETFs because what we’ve seen in other markets is that when an ETF becomes available—as we saw in gold—the price really increases dramatically as suddenly that commodity becomes available to a lot more investors and these investors pile on. But the other side of it is that there’s always these claims that the commodities markets are heavily manipulated and opening up these exchange-traded instruments only increases the ability of institutional investors to manipulate—especially [in the case of] large market makers—the prices of commodities, not just in the markets where it’s traded as an ETF but more broadly,” he clarified.


We remind you that the SEC postponed the decision upon Bitcoin ETF until September.

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Cryptocurrency Prices for the 16th of August: BTC Stays Put, and Ethereum Goes Up 578

cryptocurrency prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Cryptocurrency prices today, August 15

According to the online platform Coin360, within the last 24 hours Bitcоin (BTC) lost 0.15%. The price at the time of writing is $6407 per coin.

cryptocurrency price chart

Cryptocurrencies went both to the green and the red zone:

Bitcoin Cash gained 1.30% over the past day and costs $524 per coin;

Ripple grew by 1.43%, and its price is $0.29;

EOS increased by 1.13%, and its cost is $4.72;

Litecoin added 0.23%, and its value is $56;

Cardano dropped by 1.59% and costs $0.096;

Stellar fell by 2.62% and is worth $0.21;

IOTA lost 1.96%, and its value is $0.46.

Ethereum added 2.09% in the past 24 hours. Its price is $291 per coin.

The total market capitalization rose to $207 billion. Bitcoin accounts for 53.2% of the total. It is $110 billion in monetary terms.

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Cryptocurrency Prices for the 15th of August: BTC and Ethereum Are Recovering 542

cryptocurrency prices

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Cryptocurrency prices today, August 15.

According to the online platform Coin360, Bitcоin (BTC) added 5.95% in the last 24 hours. The price at the time of writing is $6429 per coin.

cryptocurrency price chart

Pretty much all cryptocurrencies returned to the green zone and are showing growth after a drastic fall:

Bitcoin Cash added 4.12% over the past day and costs $518 per coin;

Ripple grew by 7.86%, and its price is $0.28;

EOS increased by 5.89%, and its value is $4.66;

Litecoin added 8.58%, and its price is $56;

Cardano increased by 5.22% and costs $0.098;

Stellar grew by 4.77% and is worth $0.22;

IOTA became more expensive by 11.24%, and its value is $0.46.

Ethereum added 6.7% in the past 24 hours. Its cost is $285 per coin.

The total market capitalization rose to $205 billion. Bitcoin accounts for 53.7% of the total volume. It is $110 billion in monetary terms.

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Marvel Is Not Happy About the Cryptocurrency Startup Using the Name Mentioned in One of Its Movies 624

marvel's trademark was used by crypto startup

Numerous startups try to create the hype using the names of famous people, companies, movies etc. The project Wacoinda was no exception. Its name is particularly similar to the word Wakanda which is a made-up African country in the Marvel movie “Black Panther”.

Wacoinda is a crypto startup aimed at providing financial education for African-Americans. By the way, this is not the first time a project used the concept of “Black Panther”. The famous rapper Akon launched his own digital coin and had plans of creating a crypto city in Africa similar to Wakanda.

Nevertheless, the representatives of Marvel did not quite support the endeavour of Wacoinda. They filed a lawsuit to the US Patent and Trademark Office asking to give them more time to decide whether they want to sue Wacoinda or not. The decision will be taken on the 14th of November.

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