The blockchain network which operates on the BaaS (Blockchain-as-a Service) framework with the main goal to decentralize and evolve how global business management and supply chains are monitored is on of the only which are signaling positive performances in the crypto-market.
Breaking the daily declining trend, the native token of the 24th largest crypto-network by market capitalization at $0.0031 hoisted the price against the US Dollar back above the $0.0040 again with the attempt to retest the major $0.00425 which is posting resistance since beginning of January this year.
Source: coinmarketcap – February price movement
Per time of writing, VET is changing hands against the USD at $0.00418 with 6.82% increase in the last 24-hours leading the BTC market for 6.64%.
VeChain utilizes tamper-proof distributed ledger technology (DLT) to monitor and verify the authenticity and quality of products along the supply chain to ensure that the final consumer gets genuine value for whatever they buy. To put it into perspective, VeChain works with the manufacturers and suppliers to prevent counterfeited goods from being sneaked into the market at the expense of the general public.
Just recently – VeChain Foundation launched an Application Idea Bounty Hunt with the target to push-up the amount of app-development and devs approaching the platform. The total pool of reward is 40 million VET tokens. All the information highlighted below can be found in the team’s Medium Blog Post
This challenge, entitled VeChain Application Development Challenge leading up to the VeChain developer conference — VeChain Summit 2019 scheduled on April 18 at Fort Mason, San Francisco, will have a total reward pool of 40M VETs.