VeChain reaches 1M transactions per day with real use cases - Is it Walmart again?

Source: Akarat Phasura – Shutterstock

Vechain thrives as the new year comes to a close, with transactions toppling 1 Million.

The network poised to partner with leading luxury brands, thanks to its anti-counterfeiting solutions

Vechain’s consecutive growth is not stopping anytime soon, as network transactions hit 1 million.

Vechain, the buzzing smart contract-compatible Blockchain has been recording massive growth in different areas. This comes not long after China’s Vechain usage exploded in November.

After the Walmart China branch partnered with the budding Blockchain network earlier on, usage from consumers on the platform reached a notable record high.

Market players also speculated that the upsurge had the potential to drive Vet’s price to new highs.

Most recently, as the year comes to a close, transactions on the Vechain network have skyrocketed to a whopping 1 million.

Vechain took to its official Twitter page to announce the new development in a tweet, in which it recognized the meteoric pace at which adoption is picking up.

“With another million+ transaction days of real-world economic activity in just the past few months, VET is reaching a tipping point.”

The tweet also noted the need for more regulation, and how that would trigger mass adoption of the network.

“Regulations & and adoption wave will make the VeChain blockchain go exponential.”

Vechain could potentially change the future of ErLuxe

As ErLuxe platforms and institutions become more and more popular, technologies that solve transparency problems can come in handy.

This makes Vechain even more essential as a Blockchain that solves real-world problems.

To make it easy for luxury companies to scan products, and maintain authenticity through the transaction process, Blockchain technologies will have an upper hand.

Vechain sees itself bridging this gap, as postulated in a blogpost, the network’s ability to spot counterfeits, and trace products could maintain transparency for leading luxury firms.

Additionally, implementing Blockchain technologies like Vechain could reduce physical labor and cut extra costs for companies.

As the blogpost explained ;

“Vechain’s anti-counterfeiting and traceability solution for luxury chips based on years of industry experience can help ErLuxe platforms and institutions to transparently identify processes and the transportation process.”

Meanwhile, Vet remains one of the best-performing altcoins in the market. Although its 7-day performance is collectively in red, VET bulls have been managing to sustain momentum. Within the last 1hr, VET is up by 0.08%. The asset maintains a price of $0.01 at press time.

New year price predictions are very bullish for Vet, as Vechain is poised to score even more partnerships with leading platforms across the globe. This is bound to result in a price upswing in the long term.

Also read: VeChain: Tokenize Everything in Your Company Using the VET Blockchain and Ecosystem