VeChain Foundation Shares Perspective On 2018, Provides An Outlook For 2019

VeChain Foundation Reflects On 2018, Provides An Outlook For 2019

VeChain Foundation has released a report that reflects on its 2018 goals and what it achieved, as well as an outlook for 2019.

According to the company, 2018 was a phenomenal year for them despite the crypto market condition. Since it launched mainnet, it has enjoyed continuous growth in the number of transactions, mainly due to third party developers on its VeChainThor blockchain and the rise of enterprise adoption.

The post read:

“Despite the market condition, our plan of building the decentralized business ecosystem remains unchanged. Since the mainnet launch, we have witnessed the continuous growth of mainnet transactions as a result of increasing enterprise adoption and third party developers on the VeChainThor blockchain.”

Recap Of Achieved Milestones In 2019

According to VeChain’s roadmap, it appears that they have achieved each milestone it set for 2018. In April 2018, the company managed to take live the 101 VeChain Authority Master-nodes selection process, introduce the VeChain Multi-Party Payment Protocol (MPP), and the VeChain Multi-Task Transaction Protocol (MTT).

In May, the VeChainThor Alpha Test went live and later that month the Development Plan and Whitepaper were unveiled. A month later, the company launched VeChainThor Mainnet.

The following months up to December, 2018, VeChain also achieved a lot, including the release of VeChain Identity hardware, an update to the VeChainThor Mainnet, wallet, and tokens smart contracts open source.

A Glimpse At 2019 Outlook

According to VeChain, its mission in 2019 is simple and straightforward. Generally, the company expects to grow its transactions with businesses and facilitate mass adoption by building infrastructure services around its VeChainThor blockchain.

To achieve its goals, VeChain says that they will first focus on enabling enterprise application as well as dApps to support real business activities. The company further stated that:

“We will provide not only the developer documentation and tools but also smart contract templates, SDKs and turnkey package templates of those essential components needed for most blockchain application such as wallet, tokenized asset issuance, data storage, digital asset management. By this way, developers, startups, and enterprises can plug in those components and focus the efforts on what they specialize in and realize their business ideas.”

Expanding Partner Network

Expanding its customer network will also be a priority in 2019 for VeChain. The company expects to expand on sectors such as technology and consulting. Through its blockchain, the company hopes that its partners will reach more business owners who want to adopt blockchain technology.

In regard to this, VeChain stated that:

“We believe the real applications will inspire the development of the VeChainThor blockchain infrastructure which in turn enables new applications.”

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