VeChain (VET)’s Mainnet Witnesses Over 700K Transactions but

VeChain, a protocol that helped businesses to build & execute dApp (decentralized applications), trended during this publication. From the alternative coin trading in the green to network transactions, things appear optimistic for VET.

Believing the Future

The native coin, VET, gained 6% within a day to change hands at the $0.02 level. Coinmarketcap data confirms the alt’s impressive gains. Meantime, even platform transactions noted a substantial peak (according to the VET community).

VeChain pumped nearly 700K transfers for the leading company globally (Walmart) within three hours. Meantime, on-chain indexes like developmental activity and trading volume support Santiment’s discoveries.

Santiment suggested that the trading volume saw an unprecedented hike. Though development activity made a modest surge, it did not form a similar ring as the former. However, this might increase in the upcoming days, considering network upgrades.

Piling it Up

The VeChain team decided to implement a gadget to operate dual consensus modes rather than replacing PoA (Proof-of-Authority) consensus. The recent PoA 2.0 stage enables the latest blockchain development.

VET’s Peter Zhou tweeted about the latest PoA 2.0 stage (the VIP-220 or the FOB finality) that has run as anticipated on the testnet. Zhou added that he awaits the stakeholder vote to enable its mainnet deployment.

This update will add to the several blockchain consensuses to attain the ultimate goal of real-world environment enhancement. Besides this, TruTrace and VeChain revealed industries they would incorporate into the platform.

The announcement added that the blockchain would welcome TruTrace’s lawful cannabis, apparel, pharmaceutical, and food industries. In that context, traders and investors should remain cautious and watch for weaknesses before joining the craze.

However, the crypto market stayed dicey during this publication. The crypto market has seen ups & downs over the past few sessions. While publishing this post, bears attacked, catalyzing declines in most assets within the past day.

Bitcoin plummeted by 3.39% over the past day to change hands at $19,417.19. That welcomed bearish actions in the entire market. While writing this content, the global cryptocurrency market cap sat at $937.18 billion, declining by 3.00% within the last 24 hours.