VeChain VET/USD is a blockchain platform created with the goal of improving supply chain management. It wants to streamline these processes, and flow of information to complex supply chains through distributed ledger technology.
The 10 million block milestone as a catalyst for growthÂ
On September 1, the VeChain Foundation announced that the mainnet reached 10,000,000 blocks without downtime, an event that marked a high milestone that is a testament to their public blockchain’s scalability, security, and stability.
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As a point of comparison, we can look at Bitcoin, which recorded a 99.98% uptime since January 2009.
According to the foundation, there are also major updates throughout the pipeline, including Proof-of-Authority 2.0 and many other partnerships and use-cases and community dApps.
This is important because VeChain uses Proof-of-Authority (PoA) to enable the network to process high-speed transactions based on identity and reputation through the usage of 101 authority nodes through which it reaches consensus.
Should you invest in VeChain (VET)?
On September 3, VeChain (VET) had a value of $0.141.
Let’s take a deeper dive into the growth patterns of VeChain (VET) by taking a look at its all-time high value as well as its performance in August.
VeChain (VET) had its all-time high value on April 19, worth $0.280. This makes the all-time high value 98% higher than the value on September 3.
VeChain (VET) saw its lowest point on August 3, where the token dropped to a value of $0.083.
The highest point of the month was achieved on August 16 where the token rose to $0.143 in value. Here we can see that the token grew in value by 72% throughout the span of the month.
Given this exceptional milestone, we can see that the VeChain mainnet is extremely stable, which can drive the value of the token up even further as more people as well as investors transition to it.
As the world adapts to blockchain technology, supply chain management will play an essential role in the growth of the VET token, and as such, we can expect its price to grow to $0.183 by the end of September, which makes it a worthwhile investment.
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