Although 2018 saw dramatic sell-offs in the cryptocurrency markets, the amount of development across the entire blockchain industry was phenomenal.
Serious and genuine projects flourished despite harsh market conditions, while other projects failed and died. One cryptocurrency project that came out of 2018 far stronger than before, with a ton of accomplishments and loads of developments under their belt, is VeChain.
Vechain’s goal to build a decentralized business ecosystem has remained consistent throughout the entirety of 2018 and going into 2019.
VeChain recently published a blog post titled “A 2018 Reflection and 2019 Outlook,” in which they highlighted their 2018 accomplishments and provided a sneak peek for what’s to come in 2019.
The project has accomplished a lot on numerous fronts, including technological deployments, the launch of VeChainThor mainnet, the launch of new products, new partnerships, new projects, new events, and much, much more.
VeChain Technology and Deployment
On a technological front, VeChain thrived in 2018 with the launch of VeChainThor Mainnet and 17 other technological deployments:
- On April 11, the 101 VeChain Authority Master-nodes selection process went live.
- On April 21, the VeChain Multi-Party Payment Protocol (MPP) was introduced.
- On April 29, the VeChain Multi-Task Transaction Protocol (MTT) was introduced.
- On May 18, the VeChainThor Alpha Test went live.
- On May 20, VeChain unveiled a new development plan and whitepaper.
- On June 30, when the VeChainThor Mainnet was officially launched.
- On July 6, VeChainThor Nodejs SDKthorifyopen source on Github.
- On July 11, VeChainThor Web3-gear opensource on Github.
- On July 11, VeChainThor sync open source on Github.
- On July 23, VeChainThor JavaSDK open source on Github.
- On August 10, the VeChain Security Identity hardware was released.
- On September 3, the VeChainThor Mainnet v1.0.2 was launched.
- On September 16, BaaS 2.0 launched on the mainnet.
- On October 10, Sheet Stock RFID production equipment was deployed.
- On October 30, VeChainThor Mainnet v1.0.4 and sync 0.6.8 launched.
- On November 30, the VeChain Uniform Account Model was deployed.
- On December 5, VeChainThore Node Tokens Wallet/Service set was deployed.
- On December 10, VeChainThore Node Tokens Smart Contracts open source.
Apart from the major technical deployments, VeChain had very healthy activity on Github in 2018, with a total of 2,535 commits, 3 branches, 5 releases, and 10 contributors. Also, according to the China Blockchain Patent Report 2018, VeChain obtained 26 blockchain patents and was ranked 3rd in terms of new patents in 2018.
To say the least, VeChain was very busy in 2018. They didn’t let crashing prices distract them from achieving their goals, they accomplished a significant amount of important and foundational technological developments. Moving into 2019, VeChain should be ready to take on real use cases and implementations of their technology.
VeChain’s 2019 Outlook
Apart from reviewing VeChain’s 2018 accomplishments, the promising crypto projects blog post provided a sneak peek into VeChain’s goals heading into 2019.
As stated in VeChains blog post:
“In 2019 VeChain’s mission is simple — grow the transactions with business value and build infrastructure services around the VeChainThor blockchain to facilitate mass adoption.”
As seen from the number of accomplishments laid out above, VeChain has been busy building out their blockchain so that both small and large business enterprises can run their businesses on top of VeChainThor’s blockchain infrastructure.
In 2019, VeChain wants to make the technological components they’ve been building available to both enterprises and individual developers.
“Firstly, we will focus on growing and enabling enterprise applications and dapps supporting real business activities. We will provide not only the developer documentation and tools but also smart contract templates, SDKs and turnkey package templates of those essential components needed for most blockchain application such as wallet, tokenized asset issuance, data storage, digital asset management.”
In addition to pushing the actual use of their technological innovations in the real world, VeChain plans to expand their network of partners on a global scale. This will allow VeChain’s blockchain technology to be used by a much broader range of customers.
All in all, VeChain wants 2019 to be the year that blockchain applications are used in real business environments. They hope that real blockchain adoption among businesses will help to innovate the regulatory and legal environment surrounding cryptocurrencies and blockchain technology.
Do you think VeChain’s blockchain technology will be implemented by real-world businesses in 2019? Let us know what you think about VeChain and their goals in the comment section below.
