Each promising coin has a specific project behind it. This is a very important point. Cryptocurrency can be thought of as a share of a company. If the company is promising, then the share price rises. The same analogy can be drawn with cryptocurrency. True, there are digital assets that are “dummy”, but at the same time they are growing. There are very few such assets and they rest solely on the trust of citizens. In today's review, VTHO is a cryptocurrency that has real value.
Today's issue:
What is VTHO
It is difficult for a person who does not have knowledge in the field of blockchain to immediately understand. To do this, you will have to familiarize yourself with the main features of the site. Vtho was created to simplify the processes of introducing blockchain technology into existing economies. In simple words, it is a decentralized platform for managing products through their blockchain.
The goal of the project is to track products from their creation until they are received by the user. VeChainThor, in turn, is designed to combine two systems: the Internet and the blockchain.
For example, manufacturers will be able to track their sales source online. For this purpose, a specialized digital code is integrated on products. The consumer, in turn, can verify the authenticity and quality of the product by scanning the barcode with his smartphone. Thus, he will receive all the necessary data about the product.
Today the market is filled with fakes and goods of dubious quality. The VeChain project eliminates this point. Let's take an example: a person wants to buy an expensive Rolex watch, but how can he verify that the product is really real? If the manufacturer uses the VeChain platform, then the buyer will be able to find out all the necessary information about the product.
In fact, the idea of the project is very interesting and most likely it will be widely used in the modern world. Using this technology, it will be possible to digitize any product and store data about it on the blockchain.
Each product will receive its own unique code and identifier. The buyer, having considered it, will find out all the information. For example, if we relate this system to food products, then we can find out who, where and when prepared the product.
Interest of businessmen
One of the main and main advantages of the project is transparency. Everyone will be able to track information. Moreover, everything works on the blockchain, where it is impossible to fake, delete, copy, or correct anything.
Another feature and attractiveness for businessmen is the conclusion of contracts through a smart contract. In this case, legal services will not be required.
The developers have provided their project for different categories:
— company (this includes any organization that creates and offers goods and services); — service (various applications that will allow entrepreneurs to interact with clients); - smart - contracts in the construction field; — relationships between ordinary citizens using the platform.
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History of VeChain creation
Six years ago, a team of specialists led by Sunny Liu was formed and developed the V1.0 platform in 2016. In the same year, it received an upgrade to version 1.5, which added smart contracts, mobile phone applications and smart chips.
Updates occurred regularly and the developers thoroughly took up their creation. Already at the end of 2016, the platform was updated to 2.0, and the following year new business areas were added.
2017 was a key year for the team, as an ICO (initial coin offering) was held. The first token sales began in August at a price of $0.08.
In 2022, the next update, already the third, brought a change in the form of the appearance of a new token to the existing one. New assets were added to holders of the “old” coin in a 1:1 ratio. It is also built on Ethereum.
In December of the same year, significant changes took place on the platform. It moved to its own blockchain, called VeChainThor, VET cryptocurrency. It can be used to purchase goods and services. The company has representative offices in different countries: USA, Japan, China and others.
Ethereum
Last week will be remembered by users for preventing problems with the Parity wallet, in which a critical error was discovered. The solution was a call for an emergency software update for users.
The cryptocurrency, along with other currencies, is at the lower border of the ascending channel. At the moment, the range of movement has formed a horizontal price movement with minor fluctuations. Exiting it will most likely open up further prospects for movement. Possible scenarios include the following:
Pink branch In the event of a repeat test with a rebound, the coin will have the opportunity to rise if there is no bad news.
Green line If the current channel breaks out, the price will receive a signal for some decline, which, if the news background remains unchanged, will still remain in the horizontal channel.
Features of VeChain
The platform has its own blockchain, cryptocurrency and crypto wallet. The transition to our own network solved many problems, such as high fees and scalability, and also created new opportunities:
— scan and track identifiers on the network (the product manufacturer marks its product with a unique number, and all information enters the system); — Proof of Authority (PoA) algorithm, which verifies operations; — high reliability (this is one of the first projects whose cryptocurrency provides options in case of unforeseen circumstances); — high speed of transactions on the network (according to the developers, about 10 thousand transactions are processed in 1 second).
Main directions of VeChain
The platform can be used in various areas of business:
— automotive industry (control and tracking of the car manufacturing process); — agriculture (control over the quality of sowing, growing crops, etc.); — food industry; — full control over trade (from production of goods to delivery to the store); — branded goods (with VeChain you don’t have to worry about the authenticity of expensive goods); — cargo transportation (this process will be transparent in the blockchain).
The range of applications of the technology does not end there. The possibility of its application is very wide. With its help, you can learn about suppressing the trade in counterfeit and low-quality products.
Project versions
The idea of creating this direction affects different markets. In this regard, several versions have been created:
- Standard. It consists of working on the blockchain without using codes. This function allows you to identify counterfeit products, as well as the logistics route.
- For developers. Tools such as API, SDK, and documentation are already provided here. Using these tools, developers can create software based on VeChain.
- Affiliate model. An extended version that includes a full range of company services from product labeling to delivery to the consumer.
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Dash
In Dash, after the devastating news about the ban on anonymous cryptocurrencies from Japan, serious changes have occurred. So, a new technical director was appointed to the project. Today, DashCore is focused on finding talent.
The coin continues to be under pressure from the news background. Despite this, the interest of the crypto community makes it possible to smooth out possible price dips. Currently, Dash has already managed to break through the channel boundary. Despite the fact that the price managed to return, such an exit from the flat will most likely have a negative impact on the possibilities of its further movement. In the future, Dash shows the possibility of a decline to lower stable levels.
VTHO cryptocurrency
Initially, the platform had one cryptocurrency. With the advent of our own blockchain, a second one appeared. VET is used for fast transactions with a high level of security, provides customers with an advantage in using the functionality of the platform and gives access to the platform.
The VeChainThor project's internal coin is the second cryptocurrency intended as gas for transactions. In other words, the token is used for commissions for transfers within the blockchain. Based on the ERC – 20 standard.
In 2022, almost 87 billion tokens were issued: 41% were distributed to investors, just over 20% were distributed to corporations that began to cooperate with the company, just over 10% were kept in the fund and about 5% were kept by developers.
A distinctive feature of the project is the presence of two cryptocurrencies. We have already described above what it is used for, but the second (VET) is used to earn money. There are two ways: staking and validation.
According to Coinmarketcap, at the time of writing, VTHO ranks 128th with a total capitalization of $299 million. Trading at $0.0082. Since entering the exchange, the coin has fallen significantly. It didn’t show itself for a long time and only showed good results in the current positive trend. At the moment, it is being adjusted, like the entire market.
Bitcoin Cash
One of the largest Bitcoin Cash mining pools has decided to stop charging transaction fees. Another good news was the release of a beta version of the Cashpay wallet.
Today the coin is in the ascending channel field. Moving along its lower boundary, as in the case of Bitcoin, special attention should be paid to its tests. Possible options for moving forward include the following:
Pink branch Another test of support could be a signal for growth. The height of the takeoff will depend entirely on the abundance of positive news on the coin.
Green line If the channel breaks out, the price will return to test it, thereby opening the transition to sideways movement.
Mining, purchasing, storing VTHO
The coin works on the POA algorithm to prove its own authority, so it is impossible to obtain a token by mining. But there is a possibility, digital assets through validation. These include exclusively trusted persons. The circle of such people is limited. There are 101 validators in total.
This method was created to ensure a balance between decentralization and centralization. It is still difficult to evaluate this model. She is quite young and will show herself only after a while.
You can purchase VTHO on cryptocurrency exchanges. The main volume is traded on the largest cryptocurrency exchange, Binance. Trading is carried out with USDT, USD, BNB pairs. You can also buy cryptocurrency on the Gate.io exchange.
You can store coins on the trading platform itself or on your wallet. The second method will be the most reliable. It all depends on the period for which the asset is purchased.
Flaws
The main disadvantage is strictly defined rules that hint at partial centralization of activities. High competition and a long procedure for implementing planned updates. But all this is covered by a large number of advantages.
Litecoin
Interesting news from the coin community was the transaction with Exchange Union.
The emerging growth in the coin channel needs to be continued. No matter how much the bulls want to win back their positions, the coin continues to move near the lower border of the channel.
Options for moving forward include the following:
Pink branch In case of a repeated rebound, the prospect of some growth will open up for the coin. The maximum limitation will be the resistance line, but the actual takeoff height will depend entirely on the level of positive news background.
Green line In the event of a breakdown of the channel, the probable location of which is marked with a green oval, the price will receive a signal to decline with a reverse rise to the broken border.
Vtho cryptocurrency forecast and prospect
Today, more and more companies are trying to develop on the Internet. Indeed, VeChain creates favorable conditions in this direction. Accordingly, we can talk about the prospects for the development of the platform.
An excellent idea that provides a lot of advantages for users of all segments of the population and is relevant in the modern world. If the project receives further development, then we can expect good X's from the coin. Currently, there is strict adherence to the roadmap.
The general cryptocurrency trend will still play a big role. Recently, there has been a correction and tokens can now be purchased at reduced prices.
Attention! This article does not constitute financial advice and is for informational purposes only. Each investor independently bears the risks for his actions.
Bitcoin
Steve Wozniak spoke out in support of the coin. According to him, Bitcoin is a truly valuable coin. The assumptions of the Apple co-founder found a response in the crypto community. However, despite the demonstrated support for the coin, a negative factor was the publication of information according to which the number of requests on the Internet about it over the past three months has decreased by more than 75% (according to Google Trends). Meanwhile, the head of the SEC of America spoke on the nature of Bitcoin, clarifying that it cannot be a security.
At the beginning of the week, the coin received significant support due to the resumption of trading on Bitfinex. This made it possible to continue movement in the body of the formed channel. Today, the main danger lies in the extremely long movement along the support line. Options for moving forward include the following:
Pink branch If the price is able to push off from support again against the backdrop of weakening negative pressure, growth prospects are likely to open.
Green line If the price can break through the support (green circle), the road to decline will open. In this scenario, the price is likely to test the lower boundary, continuing to move according to the flat principle.
