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VeChain is a blockchain platform designed to streamline supply chain management for businesses across a wide range of industries. However, following its February 2018 rebranding to become VeChain Thor, this ambitious project also has plans to become an enterprise dapp platform in much the same way as Ethereum.
The network’s native token, VET, has attracted considerable interest from crypto enthusiasts and has experienced substantial fluctuations throughout late 2017 and early 2018. To find out where its price could be headed next, it’s important to consider a few key factors.
|Coin name||VeChain token|
|Launch date||August 2017|
Cryptocurrencies are complicated and volatile, and there are many factors that can contribute to the growth or decline of their prices. With this in mind, it’s important to research and analyze those factors to form a clearer picture of where the value of a particular coin or token could be headed.
If you’re thinking of buying VET, consider the following factors:
What key milestones are coming up in VeChain’s future? By far the most important development in the roadmap will be the launch of the VeChain Thor blockchain, which is expected to occur in June 2018. Thor will allow for the creation of dapps on the VeChain platform and is a crucial phase in the project’s plan to become an enterprise-grade platform for these types of applications. Understandably, the launch will be watched with interest by many in the cryptosphere.
This launch, known as version 3.0, will also include the launch of the VET token, the exchange of VEN tokens for VET tokens and the launch of the VeChain Wallet.
VeChain v4.0 is slated for the fourth quarter of 2018 and is expected to feature the introduction of crosschain and sidechain technology, and IoT integration. By 2019, the team expects to be focused on the expansion of the VeChain Thor ecosystem.
VeChain’s price could also be influenced, both positively and negatively, by the performance of its competitors. In the supply chain management sphere, key projects to keep an eye on include:
However, as VeChain moves into the field of enterprise dapp solutions, it will also face competition from projects like:
What happens to VeChain in 2019 and beyond will be greatly influenced by what happens in 2018. The highly anticipated Thor upgrade will be a crucial stepping stone for the project and its ambitious plan to support dapps. If the launch is successful and the new blockchain functions as hoped, there is enormous scope for VeChain to continue its expansion. Of course, any delays or bugs could also have an impact on the price of VEN/VET.
It will also be interesting to see what unfolds as VeChain faces off against its competitors, not only in the supply chain management field but also as a dapps platform. Ethereum is the current king of the latter and very well established, so becoming a viable competitor to the world’s second-largest cryptocurrency will be a huge challenge.
That said, if VeChain can continue its record of securing big partnerships, this will go a long way toward keeping it at the pointy end of the competition.
The bottom line for VeChain is that there are both challenges and opportunities that lay ahead. The platform has a solid base, a working product and some impressive partnerships to its name. However, 2018 looks like a huge year for the project, and the official launch of VeChain Thor is one to watch. Monitor the latest crypto news and announcements closely, and do your own research before deciding whether or not you should buy any tokens.
At the time of writing, the author holds IOTA and XLM.
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