- VeChain has adopted Coinbase standard to facilitate Blockchain adoption
- VeChain implemented the Rosetta standard to facilitate interaction and development with VeChainThor
- The Rosetta standard could also be integrated into the Ethereum and Bitcoin Blockchains
VeChain News Today – the VeChain Foundation has announced the adoption of the Rosetta standard for VeChain. The Rosetta Blockchain standard was reportedly developed by Coinbase. It was unveiled on June 17 this year. The goal of Rosetta is to make interaction with the Blockchain (VeChainThor) simple. It will inevitably give developers the tools to foster, accelerate, and simplify VeChain’s integration with other networks. As of when Rosetta was launched, Coinbase said:
“We are launching Rosetta, an open-source set of tools and specifications that makes Blockchain integration faster, simpler, and more reliable. It is a step in our commitment to supporting an open ecosystem.”
VeChain Has Adopted Coinbase standard
The expanding number of Blockchain projects has prompted Coinbase exchange to build the Rosetta standard. This protocol ensures that integration between Blockchains becomes painless and safer. Additionally, developers can benefit from the compatibility that Rosetta provides with platforms that it has been integrated with. According to Coinbase:
“For the developers of new Blockchain networks, Rosetta will make it a lot easier to manage compatibility with exchanges using it (Rosetta). This will dramatically improve the amount of time it takes for exchanges to integrate new networks and protect consumer funds by making sure that they meet the security conditions.”
Because it is now integrated with Rosetta, developers on the VeChain network no longer need to write a parser for each Blockchain project.
VeChain’s Developers Can Now Build Cross-chain Apps With Rosetta
Rosetta gives developers the opportunity to build cross-chain apps like wallet and block browsers using a standard format plus a simplified maintenance model. Since it was launched, the Rosetta Blockchain has been implemented in over 20 Blockchain projects including Tron, Kava, Neo, Ontology, Near, Cardano, Coda, Kadena, Sia, Filecoin, Handshake, Cosmos, and Digibyte, among many others. In the coming months, Rosetta could facilitate integration with both the Bitcoin Blockchain and Ethereum Blockchain. Here is what the firm said regarding this:
“Over the years, our goal has always been to support a thriving model of Rosetta interfaces for countless Blockchains including Bitcoin and Ethereum alongside more tools and community resources.”
According to an earlier report, Coinbase might add VeChain’s VET token to its platform in the near future. As seen in a publication, the U.S-based exchange revealed that it is considering listing VeChain’s VET token. Other exchanges, including BitPanda, are considering adding the VET token as well. However, as of when this publication was issued, these rumors haven’t been confirmed. As of now, it remains a possibility.