VeChain’s (VET) mainnet sees ~700k transactions but traders must be aware of…
VeChain, a platform that allowed businesses to create and execute decentralized applications (dApp) using VeChain (VET) was trending at press time. From the token trending the green to transactions occurring on the network- things looked optimistic for the #35th ranked crypto.
VET, the native token witnessed a 6% surge as it traded around the $0.02 mark. Here’s a glimpse of the said rise on CoinMarketCap.
Source: CoinMarketCap
Meanwhile, even transactions on the platform recorded a significant high as shared by the VET community on Twitter. In just over three hours, VeChain pumped out almost 700k transactions for the biggest company in the world (Walmart).
Source: Vechain community hub
‘No spam, no token shuffling, real world, economically beneficial on-chain activity for 1 company, with thousands to come,’ the tweet added.
Meanwhile, on chain metrics such as trading volume and development activity reiterated the same picture on Santiment. Especially the trading volume given the unprecedented hike below.
Source: Santiment
Whereas, the development activity, despite showing a modest high, didn’t quite create the same buzz as the former. But this could increase in the coming days given the upgrades on the network.
The VeChain blockchain development team chose to design and implement a finality gadget to run dual modes of consensus instead of replacing the Proof-of-Authority (PoA) consensus. The latest stage of PoA 2.0 enabled the latest development.
<p lang=«en» dir=«ltr» xml:lang=«en»>The all-stakeholder vote has been set for Oct 20, and will last 7 days. Assuming the result is positive, the upgrade will be implemented shortly after.Economic nodes, X-nodes & Authority Nodes must first vote & agree on implementing the upgrade, per
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