VEE is an open-source blockchain platform that lets developers build applications via the use of a public API. It comes with a general database feature that lets the developer simplify data module design and maintain focus on business logic. On this secured platform, there is support for both in-chain and cross-chain transactions for the application ecosystem.
A Bit of a Background on Vee
The internet is less than three decades old, but it has already had a major impact on society. If you walk in any major city anywhere around the world, you will find people walking around always checking their phones for something. Everybody from the young to the old now relies on the internet for something.
Since then, many other breakthroughs have been made, which make the internet seem like ancient history. One technology that did not make it to the world stage with much pomp and color was the blockchain.
In fact, when Satoshi Nakamoto launched the blockchain in 2008, the event went almost unnoticed. At the time, it was subject to much criticism and ridicule. However, nobody is laughing at him now. It just goes to show that the person who launched this blockchain was far ahead if his time.
Today, the blockchain is viewed as one of the most innovative technologies in modern history. Despite this, its real impact has yet to be fully utilized. The developers of VEE have seen the possible impact that blockchain could have and the new era it could usher in. They have termed this the Virtual Economy Era. The name of the digital currency that will be used on the VEE platform has been named Vee.
There have been various attempts to use the blockchain for data storage. However, some have not been so successful. The problem is that many attempted to use the bitcoin blockchain to do that. However, the developers of VEE still have a lot of hope in the use of the blockchain as a database.
Some of the Solutions VEE Will Provide
One of the solutions that VEE will utilize is smart contracts. These have been around since 1996, but it is only recently that the ethereum blockchain brought them to prominence. However, the current smart contracts still have their own limitations. The Vee project will work to try to resolve some of these issues.
A great deal of effort has been spent on trying to resolve issues of scalability of the blockchain. While some minor breakthroughs have been made, there is still a need to scale up the blockchain further. The developers of VEE believe that scalability does not lie in one blockchain but in a limitless number of blockchains. They envision a world where billions of blockchains will be running at the same time.
Usability is one of the burning issues around the crypto coins. To resolve the issue, the developers will create a browser-based wallet and a mobile wallet for smartphones. The cold wallet should be easy to use by anyone, allowing the users to keep their virtual assets safe.