VeChain Teams Up With Walmart, BYD, DNG VL, And BMW
VeChain was recently in the spotlight due to an important achievement – VeChain Thor reached more than 1 million transactions.
The chief operating officer of VeChain has recently reported a huge milestone for the company.
It seems that the mainnet VeChain Thor has reached 1.1 million transactions, which is a new all-time high.
Kevin Feng tweeted the following message:
“The VeChainThor mainnet recorded over 1.1m transactions and 35m VTHO burned yesterday! Applications running on VeChain should use the blockchain technology to solve real-world economic problems and target a broader user base.”
VeChain and Walmart partnership
In a recent interview on Bloxlive. TV, Jason Rockwood, the country manager at VeChain explained the company’s role in the partnership with Walmart.
He also addressed the way in which VeChain’s two-token system is working and the reasons for which VeChain is more appropriate than Ethereum for enterprise use.
It’s important to note that VeChain is a fully decentralized public blockchain that was inspired by Ethereum.
According to Rockwood, there are more improvements that have been made to the protocol that are propelling its evolution.
Rockwood believes that Ethereum’s governance model has stalled the project on more fronts and this made changes difficult to execute and they ended up affecting the growth of the project.
VeChain chose a centralized governance system
For that reason, he says VeChain chose a centralized governance system, as reported by the online publication The Daily Hodl.
“One of the first things that makes a big difference is our governance model. It is more centralized than Ethereum… It’s easier to update and easier to manage. And at the end of the day, that’s what a lot of enterprises are looking for,” he said.
He continued and said: “They want to make sure that they’re making an investment in a platform that will always be at the head of the curve in terms of what’s best practices for technology.”
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.