VeChain Announces Its Partnership With TruTrace

Twitter icon  •  Published há 1 ano  •  Hassan Maishera

The VeChain team announced in a blog post on Monday that it has partnered with TruTrace Technologies.

The VeChain team announced in a blog post on Monday that it has partnered with TruTrace Technologies. TruTrace is a developer of a fully-integrated blockchain platform for the legal cannabis, food, apparel and pharmaceutical industries. The partnership has led to the integration of their complementary technologies, an initiative aimed at increasing the adoption of blockchain to ensure product provenance and authenticity. 

According to the VeChain Foundation, the direct connection between TruTrace and VeChain ToolChain will allow TruTrace to offer to those companies dedicated to product quality and authenticity, a seamless and rapid way to begin utilizing blockchain in their business, all without burdensome investments in network infrastructure or management of cryptocurrencies.

VeChain Thor (VET) is a blockchain with the posited goal of solving real-world economic problems. VeChain leverages the Proof of Authority (PoA) consensus mechanism. PoA is a Byzantine Fault Tolerant probabilistic consensus mechanism based on HotStuff, which relies on Authority Masternodes (AM) associated with verified identities. VET is down by less than 1% so far today and is currently trading at $0.02497.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.