Unlike other blockchain projects that use Proof of work, Vechain uses Proof of Authority. As such, it boasts of very high transaction speed. Vechain processes more transactions than many other top blockchains in the crypto space. Last week, the blockchain of Vechain recorded more transactions than Bitcoin. This celebratory alarm was noticed by a user on Reddit. The fast transaction speed of the blockchain has attracted many firms and startups to the blockchain.
Recently, Cillian Leonowicz – Deloitte executive – claimed the massive in transactions on the blockchain of Vechain. He said:
“We recorded more transactions than Bitcoin (BTC) over the weekend by moving the work of our client from the blockchain of Ethereum to that of Vechain. We were able to carry out more than twenty smart contract transactions per second.”
PriceWaterhouseCoopers recently migrated to the blockchain of Vechain. About a week ago, Deloitte – Big Four services – announced that it would migrate to the blockchain of Vechain from Ethereum. The blockchain also recently secured a strategic partnership with BMW. All these partnerships around the project show that it has great potentials, which are yet to be seen by many.
The blockchain of Vechain has also proven to be very useful, hence, more firms are now attracted to it. The price of Vechain is not bullishly responding to the optimistic Vechain news today at the moment. However, the price of Vechain is expected to skyrocket in the near future, as all these partnerships would result in an increase in the adoption of the coin.
Vechain Price Prediction
VeChain (VET) Price Today – VET / USD
A few weeks ago, the price of Vechain plunged below the support at the 26-day exponential moving average. At the moment, VET USD price is ranging over the 12-day and 26-day exponential moving average. VET USD price recently failed to break over the $0.008 resistance level and plunged lower. Source: Smartereum
Vechain (VET) News Today – Vechain (VET) making huge moves in the energy sector
The relevance of a digital currency and crypto project in the crypto industry is determined by several factors. One of the most crucial factors is partnerships. The more partnership a crypto project gets, the more the project will become useful and relevant in the industry. Vechain (VET) is one digital currency that has secured some strategic and powerful partnerships over the past months. The partnerships of the project have also helped to push the price of Vechain higher. This has also resulted in some bullish Vechain price prediction 2019. The Vechain bullish news and Vechain price forecast have also helped to increase in the price of Vechain over the past weeks.
According to the latest VeChain news on cryptorecorder; DNV GL published an article in which, they focused on how blockchain can simplify the process of energy costs verification. In this article, DNV GL takes a look at the challenges of getting an accurate reading of the true cost savings that come with various energy conservation moves. This can dampen an organization’s ability to work efficiently towards energy conservation.
The company believes that blockchain is the answer to this blockchain technology. It believes that the problem of energy use verification can be solved using sensors. In the write-up, DNV GL argues that there would be pre-set rules through which, the blockchain ledger would record energy usage by taking information from sensors. Those saving can then be redeemed in crypto coins as a monetary incentive, to encourage companies to employ better energy saving mechanisms.
So how does Vechain (VET) come into play in all this? Well, DNV GL is a major partner to Vechain. This means that in implementing a blockchain system that encourages energy efficiency, Vechain stands as the blockchain that could gain the most in such a scenario. In fact, Vechain has a pending patent for an energy sector blockchain solution. This is a good indicator that Vechain (VET) has what it takes to transform the energy industry. This could drive up the demand for Vechain.
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