VeChain News: Official VeChain explorer starts beta phase

  • The new VeChain Explorer was launched yesterday in beta version and is now being tested for bugs.
  • Furthermore, the first commercial product on the VeChain Blockchain was checked for authenticity by the manufacturer Highness, in cooperation with the RealItem Foundation, using the VeChain Thor Blockchain.

VeChain is a project of the cryptocurrency market, which has already had a working product since the official start of the company. Until today VeChain has established many partnerships in the logistics, pharmaceutical, food and beverage, insurance or automotive industry. The VeChain Thor Blockchain is versatile and can already demonstrate numerous applications.

VeChain Explorer starts in beta phase

The VeForge Explorer and VerForge Vault for Ledger have been developed by Totien Labs. In mid-October, however, the company suddenly terminated the cooperation and discontinued the aforementioned products. Since then, VeChain has been working hard to develop and release its own VeChain Explorer.

In the meantime there was another VeChain Explorer, which was developed and audited by the community. But the Explorer presented yesterday was developed by the developers of VeChain themselves and can therefore be considered as the new official VeChain Explorer. Yesterday it has been launched into the beta phase and will be thoroughly checked for possible bugs by selected testers.

The Explorer can be used, similar to VeChain Stats, to monitor Mainnet activity, VTHO consumption and many other statistics. Previously, using VeForge Vault, users could access the Ledger Wallet to manage their VET tokens in the VeChain wallet. However, VeChain has already released a replacement with the Sync Desktop Wallet, which allows users to use the VeChain Wallet from Ledger without further restrictions.

VeChain provides support for product authentication

The RealItems foundation was founded in 2017 and provides a platform for companies based on the VeChain blockchain. By using it, the authenticity of products can be verified and valuable information of the complete value chain can be mapped on the blockchain. Yesterday the foundation announced that the first retail product of Highness has been authenticated on the VeChain Blockchain.

For verification, buyers simply need to scan the QR code present on the product and immediately receive further information and a confirmation of the product’s authenticity. The following video shows how this works. Buyers also receive a reward when they purchase the product. This can also be retrieved via the QR Code.

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Each RealItem is linked to a non-fungible token. In the Real Items Portfolio Manager, each item displays the block chain transaction ID, block number, timestamp, etc., which is linked to VeChain’s Block Explorer for double confirmation. An account with RealItem is required to manage the tokens and transfer ownership to others.

Recently VeChain announced a partnership with the General Council of Anhui Tea Industry Association. This will give more than 600 Chinese companies access to the VeChain Thor Blockchain and enable them to use it to verify the authenticity of their products. High quality tea is sacred in China, so all companies in this industry are striving to prove the authenticity of their products to the end consumer.

The price of VET has risen by 5.05% in the last 24 hours to a price of USD 0.0053.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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