VeChain (VEN), like the rest of the currencies, was deeply affected by the most recent market dip, in the terms of decreasing price. During the market crash that went on for eight long weeks that came off as even too long, many of currencies have been through a rough time with losing approximately 50% of the total market cap. Some currencies were dropping for -70% and down below, which gravely affected the ranking and the market cap of the affected currencies. However, as the market is starting to recover, slowly but steadily, VeChain is trying to go up as well and have a decent rebound. How bouncing off is going for VeChain and what plans does the dev team behind VEN has for the second quarter of 2018?
VeChain and Authority Masternodes
VeChain (VEN) team seems to be working on some crucial improvements that could potentially mark their currency as a more “serious”, and more promising fragment of blockchain technology. To be exact, VeChain is choosing users for awarding the rights to the usage of Authority Masternodes.
VeChain Thor represents a full node with the execution being backed up by Authority Masternodes, which have the sole purpose of producing blocks and performing an authentication process for those same produced blocks. Since the Authority Masternodes will be rewarded to VEN users, there are some requirements that need to be met in order to get qualified for this program.
There are only two requests for the initial qualification, one of which is owning your own server. The second, and at the same time the last requirement is to have 250.000 units of VET. That means that moreover, there are 5 distinctive groups that could qualify for taking part in the Platform Governance which comes with the ownership of Authority Masternodes. In case you are a research partner, community contributor, blockchain developer, enterprise user or in case you are a part of business development teams, then you are automatically eligible for applying top get 101 Authority Masternode program that should be launched any time soon.
VeChain and the Main Net
As VeChain (VEN) representatives have announced, there will be many projects waiting for completion and launching that should very soon become available on their official project page. On this occasion, the team has also announced that there will be a launching on VeChain’s Main Net, which is one of the most expected projects launched by VeChain, by far.
At the same time, it is a thought in general that the announcement of the launching of VeChain’s own Main Net is one of the main reasons why holders and investors decided to keep their VEN in their wallets even when the things weren’t going in favor of this currency.
VeChain and a New Partnership
VeChain has respectfully since the time of its launching managed to acquire lots of important and beneficial partnerships that contributed to the growth and visibility of this currency. Besides from partnering up with great companies and famous brand names like Coca-Cola, Apple, BMW, Hyundai, Oxford University, Lenovo, Asus and more, VeChain begins collaboration on a very important project when VEN partnered up with AssetLink into making a decentralized application called AssetLink manager. In addition to this partnership, VEN partnered up with Smart Corelink, which is a company working with cloud computing and chain supply.
With this backup, VEN team managed to create AssetLink manager which is already ready for usage in its first version. Further improvements are already being planned and will be conducted based on the initial feedback on the first version. AssetLink manager is using blockchain technology while working on a network instead of being operated with on a single computer. This Dapp practices the implementation of Artificial Intelligence and cloud computing alongside with IoT technology.
VeChain and the Market
Although we’ve seen a lot from VeChain in the first quarter, it is expected to see more projects coming from the VEN dev team, so we can expect to see VeChain (VEN) in a full-steam mode in the second quarter and after the announcement of the planned projects. At the same time, the expecting of the Main Net kept great care of VEN in the market, as it is believed that this launching made investors and holders hold onto their VEN units instead of selling them off.
Although there were some positive changes in VEN’s market cap, it seems that this currency is still struggling while trying to bounce off. That is how after the latest change in the market VEN fell for -1.09% against the dollar, which is not that big of a deal if you remember the horrific crash of VEN during the market dip.
With the most recent change in the market, VeChain (VEN) can be bought at the price of 3.36$ per one unit.