Popular Cryptocurrency investor and co-founder of CREAM, Jackson Fu, has in a recent blog post declared that VeChain has cracked three critical problems that no other crypto project has in the crypto industry.
Through the blog post, Fu narrated diverse reasons why VeChain is the most suitable cryptocurrency for enterprise adoption, pointing out that the first critical problem that VeChain solved in the crypto ecosystem is the “garbage in = garbage out” problem, which he described as trust problem that has lingered for long in the Blockchain industry.
However, the cofounder of the leading investment and advisory incubator firm focused on blockchain-based projects, retorted that the trust issue which he referred to as the “garbage in = garbage out” problem has been solved by the creative innovations of VeChain network through its auditing services.
The crypto baron mentioned that the immutability of VeChain blockchain has helped improved the quality and security of data, adding that the VeChain’s partnership with leading companies like DNV GL, SGS, PwC, Intertek, NQA in C.T.I industries has also helped firms using VeChain get more data assurance, hence enabling them with several collaborative business models.
VeChain, through his Proof of Authority consensus mechanism, has developed a unique structure on which it hosted about 101 block producing nodes globally. The number of nodes hosted on the VeChain PoA strikes a perfect balance the blockchain trilemma of decentralization, speed and scalability, Fu described.
Highlighting the third problem that VeChain had solved incomparably in the crypto space, Fu elucidated that cost problem has been well tackled by the introduction of the VeChain native tokens, VET, which generates VTHO for transaction settlement in the network.
The crypto enthusiast however concluded that when there is an expansion of network activities on the VeChain network, VTHO would become expensive as it will experience increased market adoption.
Nevertheless, Fu suggested that the cost of transacting in VTHO terms could be reduced to usher in a stable transactional cost for the network in dollar terms.