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VeChain CEO highlights what the project is offering the different levels of developers

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VeChain CEO Sunny Lu has in a series of tweets highlighted what the platform offers to the different level of “developers.” From his notes, there were four levels- Level 0: Public blockchain, Level 1: VeChain BaaS, Level 2: VeChain PaaS, Level 3: SaaS. The four levels encompass all degrees of expertise, from the most advanced developers to businesses with little to no knowledge of technical development.

According to the CEO, with Level 0, developers enjoy ‘cool’ features such as MPP, MTT, Controllable TXs Lifecycle, TXs Dependency and many more. This particular level is open source for any participants.

With Level 1, “VeChain BaaS – Enterprise-level developers and professional team who can keep blockchain work as a service but just use it with dedicated APIs. You can choose existing smart contract or ask for dedicated one for you only.”

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Level 2 is for developers with a focus on front end business logic and look forward to having a low-code development environment using blockchain. As such it lowers cost and saves time.

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Level 3 is for novices, and in particular, businesses looking to capitalize on blockchain but lack any knowledge of its development.

With such different levels of developers, it ensures that VeChain can target a wide array of clients and continue to expand its use cases.

VeChain has in recent weeks enjoyed massive success in China with the government all but endorsing the project. In recent weeks, local governments in China have employed tools in the project. More recently, Suzhou City launched the “Changan Code” based on “Field Security code” that is built on VeChain ToolChain. Covering more than 300,000 local residents, the project has received extensive adoption.

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VeChain PoA upgrade on the horizon

The VeChain community is however currently more enthusiastic about the proof of authority (PoA) 2.0 upgrade. In a recent AMA, the CEO stated the benefits of PoA, adding that it would give VeChain an edge over other blockchains.

POA 2.0 is one of the critical elements to make “million a day” happen for sure. It is going to give VeChainThor an edge on other public blockchain platforms in the race of mass adoption.

In the last 24 hours, VeChain’s native token VET has gained more than 5 percent to climb above $0.077. The digital asset is enjoying a wider positive market move after weeks of downfall from which it has lost more than 70 percent of its value from the $0.27 all-time high.

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Textile Providers to Improve Supply Chain Traceability with Vechain (VET) SaaS

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VeChain expressed:  “We are proud to launch a new service on the VeChain Carbon Footprint Traceability Platform. This blockchain powered software-as-a-service solution is aimed to revolutionize the way sustainability is tracked in the Fashion industry.”

Fashion is having to transform urgently during the pandemic for meaningful progress towards sustainability.

Trustless claimsBlockchain technology is the best choice for textile providers to improve supply chain traceability.  Thus, textile providers and those in to the garment business will be able to offer more transparency into their manufacturing streams.

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Data stored on blockchain platforms makes it possible for manufacturers to prove how their sustainable fibers are got from plants or animals, which aims to reduce harm either through the production process, fiber properties, or overall environmental impact.

The collection of information can be easily integrated to the overall carbon claim of the garment, which will become an advantage for textile providers to leverage, attracting industry players involved in a sustainable fashion.

Trustless certification: Characterized by data immutability, the blockchain technology allows the most convincing ethics and sustainability certifications for both brands to consider during provider revision and for customers to consider when shopping. With visible certification stored on this disruptive tracer, textile providers can be vetted in the most trustless manner.

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VeChain SaaS Service is hailed to be the Only Choice for a Ready-to-use Blockchain Tool.

In August 2021, VeChain launched their first Digital Carbon Footprint SaaS Service based on the VeChainThor public blockchain. This new offering is the first of its kind to benefit from the combination of decentralized ledger technology and a SaaS business model, and focuses to be the best hands-on tool in the fast growing Chinese market.

SaaS provides the most flexible data visualization models for textile providers to convince downstream brands and consumers of the benefits of purchasing their sustainable apparel.

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Blockchain-endorsed garment labels makes a truly environmentally conscious company. The utilization of blockchain would separate the truly sustainable companies from others, which will in turn translate into better sales and a cleaner world.

Community Response:  VeChain is always on the news for the dip.  Never a pump. Who buys VET and VTHO on market? Tokenomics is now harder to burn.

We’ve been reading these posts about applications launched on Vechain for 4 years that are “primed for mass adoption” and millions/billions of txs. Where are the txs? What happened to the previous 500 partnerships?

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Patience is the key.

China has been banning cryptocurrencies for years, nothing changed and VeChain is not affected. China is very pro blockchain and is working closely together with the VeChain team to implement blockchain based solutions. Blockchain is more than just cryptocurrencies.

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Vechain (VET) Breaks Open at Round Table Interview

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Sunny Lu, CEO of VeChain spoke at a recent round table.  VeChain Technology is a global leading enterprise-friendly blockchain company which aims to connect blockchain technology to the real world by providing enterprises with blockchain-enabled solutions suited to their business needs.

Sunny: We has quite a reputation even outside of the blockchain space. Recently, we are closed to a big client in China. When someone brought up VeChain, their CEO went like oh I know this. So honestly the thing I learn from Louis Vuitton, is that branding is important.

People need trust. So I think we protect VeChain pretty well. We never brag things around. Building application with the new technology is time-consuming. But in the blockchain space, people wish you have it done in one day or one night. It’s unrealistic.

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We would like to have a very solid foundation. We want to do things step by step because we hold a long term vision. Blockchain technology can really shake the world like the internet did 40 or 50 years ago. I am looking for at least like a 20 or 25 year career ahead.

No technology can solve 100% problem. But even 1% increases of efficiency or accuracy could solve more problems bit by bit of year by year.

When talking about challenges, the biggest is strategy. Then the people. Our business is growing faster than the team. And the money and business connections. Also, the entire industry is at early stage. So among all these, I would say making money is the easiest thing.

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Some people may just try to make some quick cash, which has actually been quite common in the past few years. But for VeChain, so far we have been doing quite well. We have been transforming the technology value to business value. We continue to build and deliver.

Not to anyone, even to my mom, or my dad before, I never gave suggestions or financial advice. But what I can tell you is that 90% of my assets are still in VeChain for sure. Because I’m doing it.

Community response:  Insightful conversation. It feels like VeChain is upgrading Blockchain to totally another level.

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We all believe in and support vet. We believe that the future will grow into an honest and desirable coin. We will go beyond the mainnet to Coinbase, and we believe it will live up to our expectations. We believe you will cross $1 by the end of 2021.

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VeChain price analysis: VET aiming to overcome barrier at $0.1030

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  • VeChain price analysis is bullish for today.
  • VET/USD still holds above $0.11 support.
  • VET is likely to move higher today.

The VET/USD pair is in an uptrend due to the recent surge in price. The $0.11 support level remains a barrier for today’s price development, and the current market momentum is still positive. As a result, we anticipate that VET/USD will reverse higher once again and target the nearest resistance at $0.123

Over the last 24 hours, the cryptocurrency market has been in good shape. Bitcoin is up 3.5%, while Ethereum is up 6.73%. Dogecoin, on the other hand, has had a spectacular day, increasing by 11% and outperforming all other cryptocurrencies.

VeChain price movement in the last 24 hours: VeChain retests $0.11 support again

Over the previous 24 hours, VET/USD showed a range of small swings, with a price of $0.1113 to $0.1155 on December 15th. Trading volume has decreased by 25.59 percent and is worth $264.6 billion at current prices. Meanwhile, the market capitalization now stands at about $7.59 billion.

VET/USD started the day at $0.1132 to resistance at $0.1166. The pair then dropped slightly but recovered quickly to regain its bullish momentum. VET/USD reached the support level of $0.1113 and held it strongly.

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VET/USD 4-hour chart: VET look to move higher today?

We can see the VeChain price testing the $0.11 support on the 4-hour chart once again, as bulls are likely getting ready to take over once more.

VeChain price analysis: VET aiming to overcome barrier at $0.1030 1VET/USD 4-hour chart. Source: TradingView

The Vechain price is seeing significant volatility at the moment. After several days of increasing momentum, the market price dropped to $0.155 on September 7th, a 20% correction from the previous swing high.

The VET/USD pair was hit even harder, with the cryptocurrency’s price dropping over 30% and then gradually rising back up to $0.11. For the next week, VET fluctuated within a tight range, ranging from $0.11 to $0.123, with retests of both support and resistance levels..

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In the end, this price movement indicates that we will see further consolidation. Considering the current test of the support, the VeChain price should rise over the next 24 hours and retest the top limit of the trading range.

VeChain Price Analysis: Conclusion 

The VeChain price is trading in the green today, as the market rebounds from support at $0.11 and is now poised to reverse higher once again. As a result, VET/USD will probably advance towards the $0.123 resistance next.

While waiting for VeChain to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

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