Vechain (VET) celebrates new milestone: 1 million daily transactions

Vechain (VET) celebrates new milestone: 1 million daily transactions

Vechain (VET) celebrates new milestone: 1 million daily transactions

Kevin Feng, VeChain’s Chief Operating Officer, recently reported an important milestone achieved by the Singapore-based company. The VeChain Thor mainnet has surpassed 1.1 million transactions, a new historical record .

Kevin Feng stated on Twitter:

The VeChainThor mainnet recorded over 1.1m transactions and 35m VTHO burned yesterday!

The Vechain mainnet crossed the milestone record for the first time on July 3rd.

The increase in the number of transactions signals the growing adoption of blockchain solutions by VeChain customers who use it mainly to improve logistics and delivery systems.

Founded in 2017, VeChain has over time become a world-leading platform for the use of public blockchains for commercial purposes, building partnerships with some of the world’s largest companies, including Walmart and Louis Vuitton.

The VeChain blockchain allows consumers, retailers and suppliers to monitor products along the supply chain, allowing end customers to verify the authenticity of products.

The collaboration with Walmart

In a recent AMA, the company answered some questions posted by its community, focusing on collaboration with Walmart China.

The successful cooperation between VeChain and Walmart China, in the first place, indicates that traditional companies are willing to use public blockchains. Secondly, in the future blockchains will probably be a mix of public and private blockchains, depending on the use case. Finally, thanks to the partnership with Walmart China we have also established contacts with many of its suppliers. In the future, we could gradually convince these companies to try the advantages offered by our technology.

The company then stated that a new version of the VeChainThor wallet will be released in July. The update will add the function of displaying prices in fiat currency and better support for the dApps.

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About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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