The CEO of VeChain, a non-profit blockchain technology-based platform which focuses on financial services, supply chain management, and smart contracts, Sunny Lu, went live on Twitter to announce the new VeChainThor testing Schedule, adding that VeChain (VEN) will be rebranded as VeChain Thor (VET) when released.
VeChain tagged the leading blockchain for enterprise is set to hit a vital milestone with the launching of VeChainThor Blockchain which is envisaged to allow the execution of massive amount of transactions.
While the blockchain is enterprise-focused, it has been able to observe that enterprise, are slow and too methodological in their approach, calling for a network with no hiccup or break in transmitting. Exactly why Vechain, in 2017, started the development and by mid-April, it has successfully made it ready and transferred it to the internal alpha testing stage. The project will continue under the internal alpha testing till mid-May when it will be transferred to Public Alpha for testing.
The VeChainThor scheduled:
2017 — — Mid April 2018: Development Completed
Mid-April — — Mid May, Alpha 1.0
Mid May — — Early June, Alpha 2.0
Early June — — End of June, Beta/Public testing, Source Code Open
End Of June — — Mainnet Launch
While the Public Alpha Test is scheduled to begin by May, the project will be made available for several reputable third party cyber security and code auditors that are private firms.
In a bid to eliminated errors to the minimum, the blockchcian foundation will be welcoming, examining and approving applications for the Public Alpha Test of the VeChainThor Blockchain between mid-May to early June, among which they will select 100 brilliant and proficient testers. The selected participants, according to the release will have knowledge on “cybersecurity, blockchain development, enterprise software development, enterprise application testing or other suitable experience and skill sets”.
While the appointed participants work with the VeChain Blockchain Core team in providing critical insights on improvements, they will also be remunerated for their work in bounties.
The process continues with the next phase being Public Beta Test. By early June, the VeChain Foundation will make the code available to the general public, allowing all community members test the blockchain and wallets. The Public Beta Test phase, which precedes the mainnet launch which will take place by end of June all things being equal, makes it the first time the foundation is making its code base available to the public.
The foundation further aired that it is making the project go through all these processes in a bid to make it befitting as countless of enterprise who pledged to use VeChainThor are entrusting a substantial portion of their business model on VeChainThor.
The enterprise blockchain foundation, VeChain (VEN) continues to induce ranges of development into the cryptosphere in a bid to transform the industry. VeChain Foundation on Sunday unveiled the second installation of their technical write-ups.
While the development seems to be creating disruption in the industry and excitement among lovers of the blockchain, different comments trooped in on the released scheduled of the VeChainThor.
A Twitterian in his comment said:
“the VeChainThor Blockchain will be known as the next evolution of Blockchain as 3.0. Bold words! I D.I.G. it.”
While another added:
“Looking forward for the incoming VeThor!! #GoVeChain”.
On Reddit, an advocate of Vechain in his Comment said:
“YES! YES! YES! Another day that goes by means closer and closer to mainnet launch. VeChain news literally makes my day/week. Literally need a hoodie.”
And Another said:
“Im on the vechain train and still getting fomo. It’s been great being a part of this community, it’s almost like it’s something we have nurtured and the day is coming close to letting it run free. Im way too emotionally attached haha. Looks like it’s Christmas in July”
Vechain has been gyrating around the world of crypto with unending development, standing out to be a different altcoin amongst it contemporaries to give out distinct solutions.
Recently, one of the biggest exchange platforms in Korea, Bithumb, added Vechain currency, VEN to its platform for trading. Getting a coin listed on a platform, especially if a reputable and renowned one is always an interesting story for a coin, giving it the chance rebound in the market.
VeChain foundation, in another news, lately acquired a partnership with Shanghai eGrid Consulting Co. LTD. The Shanghai Company was said to have chosen Vechain for the partnership because it uses its blockchain technology to provide solutions in the automobile industry.
While having a trade price of $ 5.17, with a market cap of $2,720,128,886, trade volume of $ 135,350,000, and 5.15% increase in the last 24 hours, VeChain is definitely preparing for the moon.
According to different analysis, VeChain is heading towards becoming one of the top 10 coins in the next few month, just the way coins like TRON and co are becoming relevant in the market. With a present rank of 15 in the market, the altcoin is doing all its best to remain competitive and formidable in the Cryptospace.