VeChain Network Hits Milestone as the Ecosystem Continues Impressive Development
The VeChain network has hit an impressive milestone, as its ecosystem continues its impressive development in the last year. The network has now surpassed 2 million known addressees and has facilitated over 20,000 contracts.
The protocols ecosystem has also noted a rather impressive spike in daily transactions according to Crypto News Flash. Subsequently attributed to the ecosystem’s Fortune 500 blockchain adoption.
VeChain Continues Impressive Development
The VeChain protocol is a smart contract network that has become one of the fastest-growing in the industry. The technology behind the VeChain Foundation protocol is seeking to completely progress global supply procedures. Moreover, VeChainThor has adopted a proof-of-authority consensus mechanism that places environmentally conscious blockchain usage at the forefront.
VeChain has committed itself to collaborating with global businesses to utilize the VeChainThor technology on a scalable basis. Conversely, the rapid development of the ecosystem seems to be pointing to the possibility of the mainstream adoption of the blockchain itself.
The VeChain network hit a massive milestone recently, surpassing 2 million known addresses and facilitating over 20,000 contracts. These developments have see the VeChain Network sport a market cap of around $1.6 billion.
Subsequently, the success has led VeChain to introduce a stablecoin called VeUSD. That token has already seen a market cap of around $5 million. What is underrated about the rapid success of the platform is that the network has experienced zero outages and downtime in four years. Conclusively, the VeChain network has specifically noted a recently unveiled wallet called HiVe as an attributing factor.
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