VeChain (VET) has inked several significant partnership deals

The VeChain Mainnet has since surpassed the one million transaction mark

VeChain plans to develop more dApps aimed at supporting global businesses and startups

While there are currently more than 2000 distributed ledger technology (DLT) projects in the industry, the fact remains that most blockchain platforms have very little or no use cases while many others are just outright scam schemes. However, we’ll be examining the critical elements that stand VeChain (VET) out from the crowd.

VeChain Means Business

VeChain, a leading global enterprise level blockchain platform says its focused on fostering DLT adoption globally by providing a comprehensive governance structure, highly functional internet of things (IoT) integration and more.

Since its launch more than two years ago by the former CIO of Louis Vuitton China, Sunny Lu, the project has hit the ground running, attracting a significant number of highly reputed firms to it, including DNV GL, a global audit and certification services company generating an annual revenue of $2.4 billion, PriceWaterhouseCoopers (PwC), National Research Consulting Center (NRCC), Yida China Holdings Ltd., BitOcean, BMW Group and more.

VeChain’s robust network of partners and alliances makes the project one of the most credible and promising blockchain technology platforms alive.

Notable Achievements

Formerly built upon the Ethereum smart contracts blockchain, VeChain achieved a significant feat in its history on June 30, 2018, when the VeChain Thor Mainnet went live.

The successful launch of the VeChain Mainnet signaled a new beginning for VeChain, as VeChain adoption significantly surged.

Interestingly, as reported by Blockchain Reporter in August 2018, the VeChain network saw its first zero value transaction.

The transaction was carried out by Chinese messaging giant, WeChat during China’s Valentine’s event, to allow its users to put love messages in the hash, thereby immortalizing their confessions of love.

On January 19, 2019, Blockchain Reporter informed that VeChain had launched Sync and Connex, two applications aimed at increasing the user experience of its dApps.

On January 8, 2019, reports emerged that VeChain Thor allied with Japan’s most extensive mobile network, NTT Docomo, and the latter plans to integrate VeChain into its 5G network.

At press time, VeChain houses more than 30 blockchain projects and VET token has an impressive market capitalization of $226.08 million and the price of VET sits at $0.004077, as seen on CoinMarketCap.