VeChain has been getting a lot of attention in the cryptocurrency space ever since the VeChain manniet launch and VeChain token swap. The supply chain business-focussed blockchain is going to be one of the blockchains that would take the lead in the next industrial revolution. Due to all the positive news about VeChain partnerships, and VeChain developments, the VeChain Thor price prediction has been bullish. While VeChain partnerships are going to help solidify the VeChain mainnet in the traditional tech world, the VeKey is going to be at the center of this blockchain revolution.
VeChain Thor Price Prediction – VeChain Partnerships – VeChain News Today – VeChain Vekey is Key
According to a VeChain future prediction on Crypto Briefing, the VeChain VeKey infrastructure has what it takes to boost security on the VeChain mainnet during deployment. The VeChain VeKey Based Threshold Signature Turnkey Solution eliminates the single point of failure (SPOF) risk that plagues blockchain wallets. It is a combination of software and hardware enterprise-grade solutions that was unveiled during the VeChain Summit 2019. The VeChain Foundation had this to say about VeKey;
“Featuring hardware-based encryption, memory access control unit, attacks detection, random number generator, and SPA/DPA anti-attack, CG4Q series chips provide robust bank-level security protection and superb performance sufficient to meet the enterprise clients’ demands of security.”
By developing VeKey, VeChain has become more attractive to companies that have not yet deployed blockchain solutions and to those that are with other blockchains like Ethereum. This is because private key security is still one of the biggest factors holding blockchain technology from reaching mass adoption.
VeChain VeKey prevents the single point of failure problem by breaking wallet private keys into several parts and storing them on separate VeKey devices. So, no one has exclusive access to the VeChain wallet. In the event that one enterprise member who had a part of the private key is no longer available, the other members can recover the key as long as they can provide the predefined number of VeKeys. It is an easy but efficient solution to the SPOF problem.
VeChain Thor Price Prediction – VeChain News Today – VeChain Price Prediction – Current Price Of The VET Coin
At the time of writing, the price of the VET coin was $0.006539. This means that it is up by 1.21% against the USD but down by 3.37% against the price of Bitcoin. The trading volume over a 24 hour period is $11,659,243 and the market capitalization is $362,608,112. It’s true that the VET coin is still far from Ethereum, EOS, Tron and other leading decentralized computers. However, with the VeChain partnerships, the VeKey and other developments on the VeChain blockchain, the VET coin has the potential to reach the top ten soon. It will certainly play a significant role in the next industrial revolution which would be led by blockchain technology, artificial intelligence, machine learning and other emerging technologies.
VeChain (VET) Price Today – VET / USD
What do you think about the VeChain Thor price prediction in our VeChain news today? Will the VeChain partnerships and other development by the VeChain Foundation eventually have an impact on the VET coin price? Share your thoughts in the comment section below.