VeChain is a blockchain platform that aims to revolutionize the way businesses operate. Since its launch in 2015, VeChain has been building a blockchain-based platform that allows businesses to track their products throughout the supply chain, from the point of origin to the end customer. The platform has seen widespread adoption in the Chinese market, with a number of major companies already using VeChain to track their products. Now, with the launch of VeWorld, VeChain has taken its platform to the next level.
VeWorld is a native self-custody wallet launched by VeChain. The wallet provides users with a wide range of benefits and is just one of the many developments that the VeChain Foundation has in store for this year. The Foundation announced the launch today via its Twitter account, with a link to an official Medium article revealing the wallet. This development comes shortly after the VeChain network crossed 2 million known addresses.
The wallet acts as the “gateway to the world of VeChain”, according to the announcement. It offers users easy access to their VeChain tokens and the ability to manage them. The Foundation has stated that this wallet will improve the overall user experience of the VeChain ecosystem. Moreover, there are extensive plans for new features and improvements to the wallet, indicating that it will continue to evolve and improve. A dedicated team of developers from the Foundation will roll out these upgrades every two weeks.
VeWorld is currently only available as a web wallet and can be downloaded from veworld.net. However, there are plans to release mobile and desktop versions of the wallet in the third quarter of this year, giving users more flexibility in managing their assets.
With the collapse of the FTX crypto exchange, which lost billions, self-custody of tokens has become popular. This makes the launch of the VeChain wallet all the more important. The team is working on a wide range of advanced features in addition to the standard options, including a direct fiat-on-ramp option, a carbon emissions calculator that allows users and businesses to monitor their environmental impact, easy integration of native NFTs, cross-chain bridges, integration with DEXs, and many other possibilities.
One of the key features of VeWorld is the ability to manage and own your digital assets. With VeWorld, you can create and import your VeChain digital assets. You can also connect your hardware wallet for increased security, making your keys your crypto. The wallet is developed and maintained by VeChain Foundation, making it a truly decentralized self-custody wallet with no lock-in. You can just import your accounts with a mnemonic phrase and start using the state-of-the-art wallet. This is an important feature as it allows users to maintain control over their digital assets without the need for third-party custodians.
Another key feature of VeWorld is the ability to browse dApps built on VeChain. You can connect to your favorite dApps in a secure manner using an innovative dApp interface in VeWorld. This allows you to explore the world of innovative NFT use cases, decentralized finance, and more. You can sign transactions and digital certificates anywhere and anytime. This feature is particularly useful for businesses that want to build on VeChain, as they can use this dApp interface to access a range of different applications and services.
VeWorld also offers the power of self-custody. This means that you can experience web3 built on the most sustainable blockchain in the world. The VeChain blockchain is powered by a consensus mechanism known as Proof of Authority (PoA), which is more energy-efficient than the more common Proof of Work (PoW) consensus mechanism. This makes VeChain a more sustainable option for businesses that want to operate in an environmentally friendly way.
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VeWorld is also compatible with Ledger devices. This means that you can use your hardware wallet to keep your crypto ultra secure. The integration of VeChain with Ledger devices allows for a higher level of security for users. This is because private keys can be stored on the Ledger device, which ensures that they are never exposed to the internet.
In addition to providing a secure platform for managing and storing digital assets, VeWorld also allows users to connect to their favorite decentralized applications (dApps) in a secure manner using an innovative dApp interface. With VeWorld, users can explore the world of innovative NFT use cases, decentralized finance, and more. They can also sign transactions and digital certificates from anywhere and at any time.
One of the unique features of VeWorld is that it is a truly decentralized self-custody wallet with no lock-in. Users can import their accounts with a mnemonic phrase and start using the state-of-the-art wallet. They can enjoy the power of self-custody, knowing that their keys and crypto assets are under their control.
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VeChain is also committed to sustainability, and this is reflected in the design of its blockchain. The VeChainThor blockchain uses a Proof-of-Authority (PoA) consensus algorithm, which is more energy-efficient than other consensus algorithms. This makes it a more environmentally-friendly option for those who are concerned about the impact of blockchain technology on the planet.
The VeChain ecosystem is constantly evolving, and VeWorld is just one of the many developments that the VeChain Foundation has in store. In addition to the features already mentioned, the Foundation has plans to introduce a wide range of advanced features to VeWorld. These include a direct fiat-on-ramp option, a carbon emissions calculator, simple integration of native NFTs, cross-chain bridges, integration with decentralized exchanges, and many more possibilities.
The release of VeWorld comes at a time when self-custody of crypto assets has become increasingly popular, especially after the collapse of the crypto exchange FTX, where billions were lost. The VeChain Foundation’s decision to launch a self-custody wallet shows that they are committed to empowering their users and providing them with a secure and reliable platform for managing and storing their digital assets.
In conclusion, VeChain and VeWorld are important developments in the world of blockchain technology. With VeChain’s focus on supply chain management and its use of the VeChainThor blockchain, it is quickly becoming a leader in the industry. The launch of VeWorld is a significant milestone for the VeChain ecosystem, as it provides users with a secure and user-friendly platform for managing and storing their digital assets. With the Foundation’s plans for future upgrades and features, VeWorld is set to become a major player in the world of decentralized finance and blockchain technology.