VeChain Thor Test Net Now Live – Main Net & Token Swap on the Horizon

VeChain Thor

VeChain Thor – The VeChain Foundation announced an hour ago that the VeChain Thor public test net is now available on Github.

VeChain announced its rebranding and project’s new direction back in late-February of this year. During the time of rebranding, the project prematurely announced its partnership with BMW.

VeChain is one of the oldest blockchain projects in the crypto space. It launched back in 2015 in Singapore. VeChain is a decentralized smart contracts platform that is centered around improving supply chain management. Their project has found application in luxury items, agriculture, and winemaking.

VeChain Thor is a full-scale upgrade to the VeChain platform, utilizing the same features from before, but shifting towards becoming an ecosystem similar to Ethereum. The updated, robust whitepaper seeks to tackle IoT, blockchain governance, supply chain logistics, cars, blockchain IDs and more.

The updated VeChain Whitepaper states:

“After a comprehensive study of existing public blockchain platforms (including Ethereum) and countless discussions and debates with multiple business partners, we identified reasons in which enterprise and large consumer-focused applications are not yet on blockchain. The largest identified hurdles are NOT about the technology but instead are related to other critical aspects of the blockchain’s operational design. We’ve identified four key hurdles to enterprise adoption of blockchain.”

The four key hurdles VeChain believes is holding back the enterprise adoption of blockchain technology include:

  1. A proper governance model
  2. The current economic model of current public blockchains
  3. Proper combinations of different technologies to be adopted easily and simultaneously
  4. Blockchain compliance with regulations and changes

You can now download the VeChain thor public test net here.

Main Net Launch

The VeChain Thor main net launch is anticipated to launch June 30th. However, if bugs are found within the test net, the VeChain Foundation states the date will be pushed back. More details on the official main net launch date should surface shortly. At that time, the VEN/VET token swap will occur. Stay tuned for more details on the VeChain Thor token swap.

At press time, VEN is trading at $3.77 a coin, down –9.40%, in 24 hours.

Featured Image: Awaj

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