Sunny Lu, the CEO of this remarkably growing project has recently announced that VeChain (VEN) will be rebranded and released as VeChain Thor (VET), a token that is essential for running a Masternode to earn Thor Power in exchange. The wait will soon come to an end, as plans to launch as immediate as June 2018 have been stated.
VeChain was established with the goals of using blockchain technology to help develop a trustworthy business ecosystem that mainly focuses on financial services, supply chain management and smart contracts.
Of the several platforms available, many strongly believe in the VeChain project mainly because of its real-life uses. Since the beginning of its existence, VeChain has earned a reputable name in providing blockchain solutions to several industries varying from liquor, automobile, logistics, retail and more. The rebranding is said to help strengthen their core vision, by enhancing security, and promoting self-circulation and expansion.
The entirety of rebranding VEN commenced some time in 2017, and was completed in April of this year. Apparently, this new project is in its testing phase, as code auditors and cybersecurity from different firms have to assess whether or not VET meets the necessary requirements.
The testing will be done in two different phases, with 100 selected public testers involved. It is believed that tests will run until June to ensure the crucial improvements have been made maximize the potential the VeChain Thor Blockchain has. According to the VeChain team, the official Mainnet Launch will be ready to occur by the end of June.
The anticipations are high on the followers’ side, as many strongly believe VET will be the most upgraded blockchain of today. Will VET evolve into something as big as what many people truly believe?