VeChain’s new MainNet, Thor, is ready to be launched. On this Saturday, June 30, this new network will finally be online. The network will stop to use the Ethereum network and start to use Thor, its own blockchain. During the day, the first masternodes will go online and they will the genesis block of this new distributed ledger.
The VeChain Thor MainNet Launch Road Map
VeChain has divulged a road map for the launch of the Thor MainNet. After the creation of the network and the first masternodes on June 30, the following development will be on July 9. During this day, the mobile wallet of the platforms will be released and token swap will begin. At the same time, the trading of VEN will be paused on the exchanges.
During the middle of July the new VET tokens will start to be traded and at the end of the month, the VeChain Foundation will start to provide ongoing token swap services after the exchanges have completed their token swaps. Finally, on August, VeChain Thor will be integrated with Ledger.
During the upcoming swaps, you will be able to trade a single VEN token for 100 VET tokens, as the tokens will be split 100-fold during the swap.
The Impact of The Thor MainNet In The Market
It is surely too early to be 100% certain about the effects of this launch, specially because the success of the Thor platform will depend a lot on whether it will be able to call the attention of enough developers to create its own sustainable ecosystem or not.
Bugs and security issues are also a real concern, as EOS, which was recently launched, had several security vulnerabilities discovered soon after the launch. Fortunately, EOS was resilient enough to successfully survive to the news.
It is possibly to avoid problems like EOS’s that the company has partnered with several firms to conduct security checks before the launch and try to iron as many bugs as possible while Thor is still offline.
Other possibility is the change in the price of the tokens. Qtum, as it went live, saw a 60% increase in the price of its tokens, while Tron’s MainNet did not increase the price of the company’s tokens significantly.
Long Term Prospects For the VeChain Thor MainNet
Another factor that will be considerably important and may impact the future of the network is how the community will deal with this new blockchain. Many voices in the cryptocurrency market have already stated that VeChain is still undervalued and has a lot of space for growth and the company will certainly be positively affected if more people start to believe that.
As the MainNet goes online, users will also be able to stake their VET tokens to collect THOR tokens. These new tokens will power the network and will have a similar function to GAS, from the NEO network.
Many experts believe in the potential of the VeChain Thor network, especially as stakers start to hold tokens and get rewards for it. If this incentive structure is actually able to work as well a it can, then the number of stakers in the network will be able to dramatically grow and the prices of the VET and THOR tokens will grow together.
It is still too early to be sure about the future but next week we’ll be able to see how it all starts and have some more propriety to speculate on whether the VeChain Thor network will be the next giant in the market.