The Vechain Foundation has announced yesterday via Twitter that the schedule for the Launch of the Vechain Thor Mainnets known. As planned, the Migration to their own Blockchain on 30. June 2018 will begin. In addition, Vechain has given a new, interesting partnership with Esprezzo known.
The VeChainThor Blockchain is just a few weeks ago in a public Beta Test stage, in which all members of the Community the Blockchain and the Wallet can test. Until yesterday, no exact start date for the Mainnet. The Vechain Foundation has discovered the secret yesterday on Twitter.
30. June 2018 will take place in three steps. The Authority Masternode are provided (deployed), so that the Mainnet is live. In addition, the Vechain Thor Genesis-block is generated, as well as the Snapshot of the previous ERC20-Token.Nine days later, on 9. July will be published the VeChainThor Mobile Wallet and the X-Node Binding Service to be available again.
Starting in mid-July, the crypto-currency stock exchanges will make the Vechain Token Swap and the ERC20, Vechain Token in Vechain Thor Coins convert. What exchanges will support the Token Swap, is still to be determined. The exact time should be negotiated with the stock exchanges. Only Kucoin has published a communication, in which the support is says. More exchanges will certainly Express in the next few days, now that the schedule has been released.
In August, moreover, the Integration of VeChain Thor for the Ledger Hardware wallet is to be realized.
VeThor Token (VTHO) and VeChain Tokens (VET)
With Migration to the Mainnet, there will be two tokens, the VeThor Token (VTHO) and VeChain Token (VET). VTHO are generated for the Keeping of VeChain-Token (VET). The aim is to enable every owner of VeChain Tokens (VET), transactions without additional cost, if the user holds the Token for a long time. VTHO and VET will, therefore, stand in a similar relationship, such as GAS and NEO.
The Two-Token-model to maintain also the flexibility to have a Token as a store of value (VET), and a Token for the payment (VTHO). In order to avoid that the transaction fees are directly dependent on the price volatility of VeChain-Token (VET). This would lead to the VeChain Thor would be a Blockchain for a company to be unsuitable.
VTHO Power to represent the costs that are necessary to use the VeChain Blockchain. In the case of any transaction of the VET or the execution of Smart Contracts VeThor Token to be burned (as is the case with other crypto-currencies, such as Ripple).
The VeChain Token to represent the right to use the VeChain Thor Blockchain. Who always keeps VET, receives VTHO, in order to use the VeChain Thor Blockchain.
According to the white paper VeChain will generate every 10 seconds a new Block. For 10,000 VET all of 24 hours to be generated 4,32 VTHO, i.e. for 1 VET = 0,000432 VTHO per day.
VeChain Thor partners with Esprezzo
The VeChain Foundation has announced yesterday that has entered into a partnership with the company Esprezzo.
Esprezzo aims “to build Blockchain-Middleware for the Front-End-developer” and allows developers and organizations to develop decentralized applications (Dapps) that can communicate with “off-chain” business data”. In this way, companies can see the benefits of Blockchain technology in the real world.
Currently, the development of decentralised application, represents a large barrier to entry for developers. The lack of standardization and security framework has led to significant security flaws and problems with Governance.
The Esprezzo platform plans to combine data from multiple blockchains, Smart Contracts, Legacy databases, oracles, and various external sources in a single application programming interface (API), which forms the basis for Blockchain-based web applications.
Through the partnership with VeChain developers and businesses should use the Esprezzo, quickly your Dapps on the VeChainThor Blockchain to develop and deploy. From our point of view, the project meets a very important need within the crypto-community.
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