1 Level
16 Review
18 Karma
Review on VeChain by Luyn Hoang
It has in place a disaster recovery plan for the likely event of being attacked…
It has in place a disaster recovery plan for the likely event of being attacked. It is an Ethereum-based platform and token geared toward tracking massive inventories and other industrial use cases. It is extremely regulation-compliant, as evidenced by its official nod from the Chinese government. VeChain has quickly risen to the upper rungs of the cryptocurrency ladder by market capitalization and newsworthiness.
Pros
- VeChain is a blockchain-based smart contract platform which focuses on business applications related to inventory quandaries and, more broadly, tracking. Like most smart contract platforms, VeChain relies on and currently requires Ethereum. In a late-Feburary, 2018 event, CEO Sunny Lu announced the platform would from there forward be called VeChain Thor.
Cons
- It differentiates itself technologically both by having a centralized, top-down development process as opposed to the open contribution model favored by other cryptocurrencies and by using Proof-of-Authority.
