
Here we will analyse VeChain’s current system and main goals and from this, we will present a VeChain price prediction. Not only for 2020, but also for the years after.
What is VeChain?
VeChain began with a focus on providing supply chain solutions. However, they are an incredibly adaptive blockchain. They have since realised that their blockchain could in fact provide solutions to real world economic problems, which is the tag line on their website. They now provide services to a wide range of industries; goods, automotive, logistics, retail and the energy sector.
Like Ethereum, VeChain has created a platform for developers, called VeChain Thor. On this platform, developers can build smart contracts and decentralised apps (DApps).
Proof of Authority
VeChain runs a proof of authority (PoA) consensus model. This is very different from the most common systems, Proof of Stake and Proof of Work. In PoA a node must become authorised before they can participate in consensus. One major positive of PoA is that it reduces the impact that the rich can have on the network, preventing the rich from getting richer, unlike PoS.
Another major positive is that because of the PoA system has excellent bandwidth efficiency, it leads to a much greater number of transactions per second. This is obviously a big positive because it needs to be accessible and fast to the industries it is helping.
VeChain Partnerships
The VeChain partnerships list is extensive, to say the least. Partnering with some titans of industry, we are simply going to provide a small list of the major partnerships held with Vechain. Here we go: the Chinese National Government, PWC, BMW Group, DB Schenker, LVMH, etc. The complete list can be found here: https://vechaininsider.com/partnerships/a-complete-list-of-vechain-partnerships/
These partnerships range enormously in terms of the different industries that VeChain is working with. The fact they are already working on providing real world, industry solutions shows the power and reach of their blockchain.
Is VeChain a good investment?
There are a few significant positive signs for VeChain. The first is that their blockchain is already working within a number of current industries. This puts it ahead of a number of its rivals, as many of them, are still in planning phases.
VeChain is truly decentralised and as we move towards a greater decentralisation. This puts it ahead of many centralised currencies, like Bitcoin Cash and Ripple.
There are, however, a couple of negatives regarding VeChain. Firstly, VeChain faces major competition from the likes of Waltonchain, Ethereum, Cardano and Neo, to name but a few.
In December 2019, approximately 1.1 billion VET were hacked. This hack was down to human error and not blockchain issues. Someone had simply mismanaged private keys.
This was noticed by the VeChain foundation who tracked and traced the accounts that had 749 million of the tokens in. The accounts were immediately blacklisted. This stopped the hacker(s) from being able to spend the VET. It was an impressive response and pleased many people within the community. VeChain made it clear that this was not a foundation to tackle again.
VECHAIN Future goals
Unlike most projects, there is no roadmap provided by VeChain. However, they are very active as a foundation and community so we can see what they are working towards. Their official blog and twitter channel are constantly providing updates on the VeChain project. They are working on ensuring blockchain interoperability as well as anonymous transactions. Both of which would certainly increase the use of VeChain.
VeChain Price Prediction 2020
Currently VeChain is trading at $0.004403 and is number 36 in the current market cap rankings. The all time high for VeChain was $0.019775. The question really is, what is the potential of VeChain? As the staking of VeChain pays poorly, very few people are taking part in VeChain staking compared to a number of other cryptocurrencies. What the staking is doing, however, is locking up a lot of the circulating tokens with many participating within the VeChain ecosystem.
There are a number of extended projects VeChain are participating in, from Plair to Safehaven. We currently do not feel overly enthused about VeChain as an investment. There are many positives about the project and the fact that their blockchain is market ready. But it has been in place with companies and governments for over 2 years now, we don’t feel that there will ever be a significant all time high. We predict that the maximum price it can reach would be approximately $0.04. This is still about a 10 times gain on it’s current price, but there are many cryptocurrency projects that we feel hold greater potential. We are simply not overly optimistic about our VeChain price prediction at the moment.
Please check out our channel, like and subscribe: https://www.youtube.com/channel/UC_4YPGotjV0uXKVaIHFeA5A/
Check out our review of Cardano: https://www.lockinthevalue.com/cardano-ada-price-prediction-2020/
Take care and stay safe.
Hello. This article was really motivating, particularly since I was searching for thoughts on this issue last week. Selena Lyn Auliffe
Pretty! This has been a really wonderful post. Thank you for supplying this information. Gerladina Clarance Burris
Thank you for visiting my blog and taking time to comment. Kassey Hansiain Orgell
there are small numbers placed on the outer edges to help you learn the layout.
Some truly rattling work on behalf of the owner of this site, perfectly great written content. Bernadina Doy Ploch
This post provides clear idea in favor of the new viewers of blogging, that actually how to do blogging and site-building. Mindy Anson Kho
Hi to every one, the contents existing at this web site are truly amazing for people experience, well, keep up the nice work fellows. Karrie Tyson Iverson
Thank you for your blog post. Thanks Again. Fantastic. Delinda Somerset Norvall
Good article! We will be linking to this great article on our site. Keep up the good writing. Genovera Vic Alexia
You need to take part in a contest for one of the greatest websites online. Tommie Elnar Ezzo
You made some suitable factors there. I viewed on the web for the issue as well as found most people will certainly accompany with your site. Meta Normand Rufe
Hello, after reading this amazing post i am also cheerful to share my familiarity here with mates. Barbabra Robin Gemoets
I enjoyed reading this. Great read. Your article has proven useful to me. Nice read. Beatrisa Kip Gabrila
I am regular reader, how are you everybody? This paragraph posted at this site is truly good. Deena Cleavland Atalie
Hi there, after reading this amazing article i am too happy to share my familiarity here with friends. Shandy Westley Connor
I am not really fantastic with English but I get hold this really easy to understand. Siana Bertrando Row
What a information of un-ambiguity and preserveness of valuable familiarity on the topic of unexpected emotions. Rhodia Winthrop Studnia
Good article! We will be linking to this great post on our website. Keep up the great writing. Darline Yank Luzader
Excellent article! We will be linking to this great article on our site. Keep up the great writing. Cybill Parker Ramonda
I believe this web site has some really wonderful info for everyone : D. Yvette Alejandro Tat
This should be the best collection of blogging website i ever found out. Abbi Delainey Irwin
Here is a superb Blog You may Obtain Interesting that we encourage you to visit. Elysee Coleman Eal
Excellent post! We are linking to this particularly great content on our website. Keep up the great writing. Chlo Duky Farly
I was just seeking this information for a while. After 6 hours of continuous Googleing, finally I got it in your site. I wonder what is the lack of Google strategy that do not rank this type of informative websites in top of the list. Normally the top websites are full of garbage. Deina Mikol Andria
Great blog right here! Also your website so much up fast! What host are you the usage of? Can I am getting your associate hyperlink in your host? I desire my web site loaded up as quickly as yours lol| Franny Seymour Ferde
Praesent vehicula nunc eget ex aliquet rutrum. Maecenas porttitor, turpis nec dignissim faucibus, nibh est fermentum mauris, eu maximus ante tellus ut massa. Integer non pharetra ex, in tincidunt ex. Sed quis felis non tortor rhoncus porta vel ut lorem. Fusce finibus ante nec nulla eleifend accumsan. Daria Dick Biddick
I want to convey my gratitude for your generosity for folks that require assistance with this particular idea. Your special commitment to getting the solution all over was especially practical and has specifically helped girls just like me to get to their pursuits. Your entire warm and helpful publication denotes a great deal a person like me and still more to my mates. With thanks; from everyone of us. Karlyn Dwight Pavlish
Nice blog! Is your theme custom made or did you download it from somewhere? A design like yours with a few simple tweeks would really make my blog shine. Please let me know where you got your design. Kudos Pamella Bale Gowrie
I was very pleased to discover this website. I want to to thank you for your time due to this fantastic read!! I definitely loved every little bit of it and I have you bookmarked to check out new things on your website. Conchita Gray Clynes
Having read this I thought it was really enlightening. I appreciate you finding the time and effort to put this short article together. I once again find myself personally spending way too much time both reading and leaving comments. But so what, it was still worth it! Bonnibelle Haley Pas