Vechain (VET) has been at the forefront of developments in 2019 as the blockchain continues to attract several firms who have begun to adopt its traceability solutions in different sectors.
One area that Vechain continues to make strides is in the development of new updates to its network as the coin experiences more users on its platform.
Vechain (VET) Makes Big Technical Update to Is Network
The coin recently announced the release of the VeChainThor v1.1.0 for testing on its twitter page.
The new update which is was activated on the testnet block #2,898,800 at block nodes and it is currently on Beta testing with the results of the public testing key to whether the code would be activated on the mainnet.
The main changes brought about by these testnet release includes Extended transaction model to support VIP-191,Expose gasPayer to VM context via Extension builtin contract, Fork config for custom network and API changes
Vechain (VET) Has Surpassed Expectations With Wide Stream Of Partnerships
Earlier in May Vechain (VET) announced a partnership with Bright FOODS Co which is a conglomerate of companies which also doubles as the second largest food manufacturing company in China.
The Partnership would see the companies under the conglomerate utilize VechainThor Blockchain solutions to bring about effective control of supply management data within their manufacturing chain.
The proposed blockchain solution named ‘Bright code’ would allow easy monitoring of products from production through to the final end consumer.
This partnership is similar to the Mystory blockchain solution which Vechain integrated into the wine industry in Italy. This product essentially tracks the wine from the process of production to the final consumer.
With all these partnerships it is no surprise that Vechain has been among the top coins to make gains during this period of bullish streaks.
Vechain (VET) Price
- Vechain (VET) is the 27th largest coin in the crypto market.
- The ROI of VET stands at negative 49.68 %.
- A total of 55,454,734,800 VET coins are in current circulation.
- The current market cap as of press time stands at $419,674,480 USD.
- The value of each BTT coin in terms of USD and BTC stands at $0.007568 USD and 0.00000086 respectively.
- The current 24h volume at the same UTC stands at $$19,368,265 USD.
It remains to be seen if the launch of the testnet would be successful but either way Vechain is likely to embark on an extended bullish run in the coming days.