VeChain prediction refers to the growth potential of VeChain, a new blockchain platform on the crypto trading market. Based in Shanghai and in association with the Chinese government, VeChain, or VET, has already made significant industry progress. Their claim to fame has been combining IOT and blockchain to create a more supply-friendly system for businesses and traders. Thus, the new platform enters into a competitive eCommerce industry with everything to offer (and to lose) against titans like Bitcoin.
How will VeChain fair in the next few years? The VeChain growth prediction could significantly change the course of the crypto trading industry. Read on to learn more about what VeChain is and what its growth potential means for digital currency investments in the next decade.
What is VeChain?
VeChain was founded by Sonny Lu in 2002. He established the platform in order to give distributors, manufacturers, and retailers a network to share product information with their vendors and consumers. It does this by storing the information on the blockchain network, linked to the product’s unique ID code. If a consumer wants to learn more about individual products, they can access the information through this code.
VeChain has many practical applications. One of the most beneficial to manufacturers and distributors is anti-counterfeit measures for luxury products. VeChain’s info tracking capabilities thus let distributors identify counterfeit products for their profitable luxury brands. Auto companies, food distributors, and others can use VeChain to store product history, registration, transportation data, and other important information to ensure their products’ condition and destination.
VeChain Prediction: Where the Platform is Headed
Current VeChain predictions for 2020 and beyond are inconsistent, with many outlets conflicting over how the platform will perform. However, many agree that VeChain investors should prepare for massive growth as the price bottoms out. While traders on the network have not been blown away by VeChain’s performance so far, investors hope that the currency will soon show signs of rapid growth.
VeChain’s systems make efficient data transfers easier by prioritizing high-quality data on the network. This makes them an amazing outlet for security solutions and supply chain management. Their currency, however, is up in the air. Therefore, predictions remain volatile, as the future of the network differs depending on which economic prediction outlet you ask.
Those in the food industry and other information channels take advantage of VeChain’s balanced security, transfer speed, and decentralized systems to reap the network’s benefits. These industries keep the platform afloat amidst economic change and shifting industry needs.
VeChain prediction spells an ambiguous future for the new crypto and information trading platform. Manufacturers and distributors can make good use of its security features and speedy transfers to track valuable product information, catch counterfeiters, and prevent merchandise like food deliveries from expiring.
Those who hope to invest and trade in the platform currently deal with volatile prediction numbers that differ greatly between economic reporting sites. Some suggest that VeChain will experience extreme growth after bottoming out and others believe it will continue to slip. Regardless, investments remain steady as 2020 comes to a close. Thus, the VeChain economic projection, while not stable, certainly promises to be interesting.