VET is a Leading Blockchain Application Platform Driven by Enterprise Adoption.
By utilizing tamper-proof and distributed ledger technology, VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought. From product source materials, to servicing history, and spare part replacements, every single piece of information about the supply chain movement of a product can be recorded and verified to bring about a supply chain management ecosystem that is secure for all participants. VeChain plans to achieve this secure supply chain management ecosystem via the method of asset digitization. VeChain enables manufactures to assign products with unique identities to the platform. This will allow manufacturers, supply chain partners, and even consumers, to track the movement of products through their supply chain. This has led to an increase in VET price.
Vechain Foundation
The Vechain Foundation is a non – profit entity established in Singapore in July 2017 and is responsible for the construction of the network, and technological research and development. The Foundation also plays an important role in business development. The Foundation encourages and supports partnerships with enterprises that may be use blockchain technology as a service. This includes payment services, private key management, smart contract development, and wallet development. There is no doubt that blockchain technology can be an important innovation to supply chain management. With a growing list of business partnerships and technological developments, VeChain is positioning itself to be THE disruptive, and innovative force that reshapes the way we think about supply chain management.
Security
VeChain (VET) is a proof-of-stake token, and VeChain itself explains that relatively low computing power is enough to achieve network security and maintain user consensus. A separate feature, proof-of-authority, involves authority masternode operators maintaining the protocol in their own interest according to rules laid down by parent organization, the VeChain Foundation.
Let us review VET price.
VET Price Prediction
VET is currently trading above the support at $0.1261. If it can stay above this support, we could start seeing a move towards $0.1401 and $0.1518. If the resistance at $0.1518 breaks, we could start seeing a move towards $0.1672, $0.1891, $0.2109, $0.2421 and $0.2818. Failure to hold the support at $0.1261 could lead to a drop towards $0.1116, $0.1048 and $0.0956.
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