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324
Posted byRedditor for more than 1 year23 days ago
Stickied post

Hello! I recently wrote a guide on how to bind an x-node and perform the VEN to VET token swap via LBank. It got a great response, but there were also a significant amount of questions. I have also noticed a ton of questions on the telegram so I decided I would try and compile a running list of questions with answers!

****IMPORTANT UPDATE**** Binance has recently announced a 100 million VTHO airdrop to people holding VET on Binance. This snapshot will be on August 1st, 0:00 UTC. HOWEVER, those planning on receiving early bird rewards on July 27th CANNOT participate in the Binance airdrop. If you have an x-node in your mobile wallet already, you have two options for the Binance airdrop which are listed below.

  1. Skip the Binance airdrop and keep your x-node status safe!
  2. Move your VET to Binance before 12pm UTC+8 on July 27th . After the Binance snapshot on August 1st, you can move VET back to your mobile wallet before August 3rd to receive the second and third early bird rewards. Keep in mind when doing this, there will be transaction fees in VTHO and withdrawal fees from Binance in VET.

YOU CANNOT HAVE YOUR XNODE IN MOBILE WALLET ON JULY 27th AND THEN MOVE YOUR FUNDS AFTER. YOU WILL LOSE YOUR XNODE STATUS.

COMMON QUESTIONS REGARDING X-NODES and X-NODE BINDING

  1. How can I get an X-node? Unfortunately, the deadline to obtain an x-node was in March of this year. However, the VeChain team did announce that 5 lucky wallets holding over 600k VET will be given x-node status.

For the addresses with over 600,000 VET but missed X Node program, we will randomly pick 5 addresses, all 5 winners will be granted X Node designation and announced on August 18th at 12pm UTC+8!

Source: https://medium.com/@vechainofficial/one-year-anniversary-and-x-node-binding-lottery-event-51be44dd0738

  1. When is the deadline for binding x-node? The deadline to bind your x-node to the VeChain mobile wallet or ledger application (which is unreleased as of 7/26) is August 10th. THIS DOES NOT MEAN YOUR VET MUST BE IN THE MOBILE WALLET. This simply means you must create a wallet in the VeChain mobile wallet and bind your x-node by sending 0.01 ERC20 VEN to the intermediary address.

  2. Do I need VET in my wallet to receive the early bird rewards? Simply, yes.

  3. Is it worth binding to the mobile wallet now versus waiting for ledger? If you want the early bird rewards then yes! VeChain team also states that there will be a way to migrate your x-node from the mobile wallet to ledger in the future.

  4. Should I bind my x-node before making any transactions? YES!!! Bind your x-node first and then move your VEN out of your wallet. Once your x-node is bound, you are free to move the VEN/VET around until x-node monitoring resumes 00:00 UTC+8 on September 1st. Many people have accidentally moved all their ERC20 VEN out of their ethereum wallet and are unable to bind their x-node now! (There is a fix currently for this, please see below)

  5. I accidentally moved all my VEN from my ethereum wallet and can no longer bind my x-node, what do I do? Well, you have to get 0.01 VEN back into your ethereum wallet! Exchanges like Lbank and Binance no longer sell VEN as they have already swapped to VET, however, other exchanges such as KuCoin have not performed the swap yet! The other option is if a wonderful community member can help you out by sending you 0.01 VEN!

  6. What are nodes and how do I know if I have one? There are two types of nodes, economic and x-nodes. If you have had 6000 VEN in an ERC20 wallet since March 20th you are possibly eligible for an x-node. Economic nodes can be acquired at anytime. The minimal amount for an economic node is 1 million VET. Please read through the following link to see VET amounts for each node. https://medium.com/@vechainofficial/vechain-x-series-6b77b746b4b2

Guides for binding x-node:

COMMON QUESTIONS REGARDING TOKEN SWAP

  1. What exactly is the token swap? Well, VEN is an ERC20 token on the ethereum blockchain and was held in ethereum wallets. We are swapping VEN tokens for VET tokens at a rate of 1:100 which are the tokens on the VeChain Main Net.
  2. Can I send my VEN directly to my mobile wallet or intermediary address? NO! You can only send VET! Never send tokens directly from your ethereum wallet to your VET wallet.
  3. What is the easiest way to swap my VEN for VET? The easiest method will be to bind your x-node if you have one (if not, simply make a mobile wallet in the VeChainThor app) and then send your remaining tokens to an exchange that will perform the swap. Once the swap is complete, you can withdraw VET to your mobile wallet!
  4. What exchanges are performing the token swap? Almost all that trade VEN are, however, some exchanges have already performed the swap, including Binance. Lbank offers the easiest conversion right now for VEN to VET and can be done at any time! KuCoin announced they will be performing the token swap on July 27th! Please refer to this link for their withdrawal and deposit times https://news.kucoin.com/en/kucoin-will-upgrade-ven-into-vet/
  5. Can I perform the token swap from the mobile wallet? Starting on August 10th, you will be able to swap your tokens directly through the mobile app!
  6. What if I accidentally send all my VEN to my intermediary address? I believe the VeChain team said that your tokens will be recoverable. Send an email to [support@vechain.com](mailto:support@vechain.com) explaining the situation. Be sure to include your ERC20 address and your intermediary address!
  7. I have not kept track of my VEN for a few months and they have been on Binance or another exchange, what do I need to do? First check to see if your exchange has already performed the token swap, if they have great your all set. Download the mobile app and make a wallet. Withdraw your tokens to the wallet to start producing VTHO. You may leave them on exchanges such as Binance or LBank and still be rewarded VTHO. HOWEVER, if your exchange has not swapped yet, check to make sure they will in the future!
  8. How do I know my VEN was swapped to VET? Your balance will be 100x what it was originally. Example: Before swap balance is 10,000 VEN and after swap it is 1,000,000 VET.
  9. I use MEW and it says “VET” there - does that mean I already did the swap? No, MEW changed the name after the rebranding event, but please know that MEW is an Ethereum wallet meaning it can only hold ETH and ERC-20 tokens. Therefore, what you hold there is VEN even though it’s named VET. You will still need to perform the token swap by sending them to an Exchange supporting it or by using the mobile wallet after August 10th

Guides for swapping VEN TO VET:

COMMON QUESTIONS REGARDING EARLY BIRD REWARDS

  1. Do I need to have VET in my x-node in order to receive the rewards? Yes, they will be taking snapshots on July 27th, August 3rd, and August 10th and will award rewards accordingly. IT IS IMPORTANT TO NOTE THAT AFTER EACH AWARD IS GIVEN OUT THERE WILL BE A SNAPSHOT. AFTER EACH SNAPSHOT, IF THE BALANCE IN YOUR WALLET GOES BELOW THE SNAPSHOT AMOUNT YOU WILL LOSE YOUR X-NODE STATUS. AKA DO NOT MOVE YOUR VET OUT OF YOUR MOBILE WALLET FROM JULY 27TH TO SEPTEMBER 1st! What does all of this crap mean?

Basically it works like this, assuming you have an X-node:

say you have 800,000 VET on the exchange. Withdrawal fee is 10 VET.

you transfer VET to your mobile wallet. after deducting withdrawal fee from the exchange, you end up with 799,990 VET in your wallet.

snapshot on 27th July shows 799,990 VET. You get additional 1%. Total balance now is 807,990 VET. You cannot go below this amount.

snapshot on 3rd Aug shows 807,990 VET. You get additional 0.5%. Total balance is now 812,030 VET. You now cannot go below this amount.

etc.

If your VET balance is below your X-node threshold, then yes you'll have to buy additional VET (from exchanges like LBANK and Binance when they have it available) to be able to pay for the withdrawal fee in order to qualify for the early bird bonus (since you'll have to meet your x-node thresholds). If your VET balance after withdrawal is higher than the X-node threshold, you don't have to.

Thanks to /u/silv3rbl8/ for the explanation!

  1. I have not gotten my tokens swapped yet but I want the early bird rewards, what do I do? You have to get the tokens swapped as soon aspossible. I believe the only option as of right now is to utilize LBank using thisguidehttp://goedhartvoordieren.nl/?page=r/Vechain/comments/91ep7t/how_to_bind_xnode_and_perform_token_swap_before/ It is quite easy to do but can befrustrating due to the limited withdrawal times that Lbank offers each day.

  2. If I do not have an x-node, do I need to have my VET in a wallet before July 27th or can I wait? You can wait, however, if you have over 50k VET in your wallet, you can be eligible for a daily lottery for 1k VET. This daily lottery event goes from July 25th to August 31st! If you win the daily lottery, 1k VET will automatically be sent to your wallet address holding the 50k+

COMMON QUESTIONS REGARDING VTHO PRODUCTION

  1. Will exchanges be awarding VTHO to people hold VET in their accounts? Certain exchanges will and certain will not at the moment. The two that currently are giving VET holders VTHO are Binance and LBank! Lbank gives out VTHO daily. Binance will deliver VTHO monthly. Please refer to the top of this post regarding the VTHO airdrop from Binance.
  2. What is the current VTHO production rate? Each VET produces about 0.000432 VTHO a day. This is the base rate which EVERYONE is currently receiving. After September 1st, X-node and economic node rewards will go into effect!
  3. Will there be an option to trade VTHO directly back to VET via the mobile wallet? Eventually, yes. The team has though about this and will implement this feature in the future.
  4. Do I need to do anything to claim my VTHO? No, VTHO will be directly deposited to your VET wallet approx. every 10 seconds
  5. Where can I trade VTHO? Currently, LBank is the only exchange trading VTHO however deposits and withdrawals have been halted on LBank for VTHO.
  6. Will VTHO be backdated? Yes, VTHO will be backdated and awarded to VEN holders. No more details regarding this are currently present however.

COMMON QUESTIONS REGARDING LEDGER USE

  1. Can I keep my x-node on my ledger? Currently, no. Ledger has not released an application for VeChain Main Net yet.
  2. Can I keep my x-node on my mobile wallet using the observe function with my ledger address? No, because you have not been able to make a VeChain Main Net wallet on ledger yet.
  3. I have a ledger but want to do the swap, what do I do? Currently, your only option is to bind your x-node and swap using the guide above. You cannot keep funds on the ledger for now.
  4. Will I be able to use the ledger eventually? YES! VeChain team has announced that x-nodes will be able to migrated from the mobile app to ledger in the future.
  5. BE CAREFUL WAITING FOR LEDGER. If you have an x-node and are waiting for ledger support before binding your x-node, make sure you bind before August 10th. There is a possibility the ledger support will come after August 10th! Don't lose your x-node because you waited too long.

TLDR

-Bind your x-node asap (before August 10th) using the guides above. Do this before moving VEN out of your ethereum wallet. If you already moved all your VEN out before binding x-node, ask someone to send you 0.01 VEN or buy it on an exchange that has not swapped VEN to VET yet

-Move your VET to your wallet before September 1st

-To receive early bird rewards, your VET must be in your wallet before July 27th. Once there, do not move your VET until after September 1st.

-Binance will no longer swap your VEN to VET. Use LBank to do this at anytime or wait for another exchange to swap (KuCoin is next on July 27th). You will be able to swap from your mobile wallet on August 10th

As more questions appear (as there always will be more questions) I will keep updating this post!

This token swap is quite pain free if you do your own reading so take some time to read up on VeChains official pages on the token swap!

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Posted byRedditor for more than 1 year13 hours ago
Stickied post

Welcome!

Welcome to the Daily VeChain Discussion! Please take note of the rules in the sidebar and remember to stay civil and polite when commenting. Feel free to use this thread to introduce yourself, ask a quick question or to share your thoughts on the latest developments. We’d like to hear your ideas, suggestions and concerns regarding VeChain.

For the new people, make sure to keep up-to-date on the latest developments by following the official VeChain Twitter or the VeChain Telegram announcement channel and please take a look at the FAQ in the VeChain wiki before asking questions.


Latest News: Here is a list of the latest developments and important dates


Guidelines:

  • Please make sure to read the VeChain wiki. It should get you started on what VeChain is, what it strives to do and gives you a solid basis for discussion of all things VeChain.
  • News, articles and announcements should be posted in separate threads.
  • Make sure to report any inappropriate comments or behavior. You can contact the moderator team by modmail or by sending a PM to u/GreatWhiteSharkCIA, /u/xSeventhwavex, /u/tendeer or /u/strifesfate.
  • The VeChain Subreddit Rules apply in this thread.
  • Keep discussion related to VeChain.
  • For price discussion, moon talk and memes stick to the Daily Discussion thread.

Resources:

  • Check out the sidebar for good resources on VeChain, such as the subreddit rules, the FAQ, links to social media, the latest reports and partnerships, where to buy VET and other important links and tools.
  • For more price speculation and trading focused discussion check out our VeChain Trader subreddit.

Disclaimer:

  • This is a community-governed subreddit and the posts and comments here do not necessarily reflect the views of VeChain or the VeChain Foundation.
  • If you suspect this thread is being used for ill intent, notify the moderator team via modmail.
  • There are NO VeChain airdrops or giveaways of any kind. Please be aware of scammers trying to impersonate moderators or members of the VeChain team. We will never ask for your private keys or personal information.


Please remember to always operate within the Reddit and subreddit rules and be respectful towards each other. Thank you for being a part of this community and enjoy your stay!

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There are never too many cooks in the kitchen! Sign up for Reddit Gifts CookBook exchange by August 19th and share the love!

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Posted byRedditor for more than 1 year9 hours ago

Admittedly I’m a bag holder but completely clueless.

Does it make sense to save your Thor or to sell it for more VET?

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Posted byRedditor for more than 1 year6 hours ago

Who won the lottery today?

Answered now: Day 25: Using the 429014th block and a random number generator, we are pleased to announce that all wallets ending in '4' and balance over 50K VET are the winners of our VET Token Lucky Draw event! Your 1,000 VET reward will arrive in your wallet within 24 hours.

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Posted byRedditor for more than 1 year1 day ago

I responded to a user yesterday with doubts about VET's valuation, and I thought it merited a post and a bit of an expansion on the point. VET will overtake Ethereum, and here is a very small example of why.

Ethereum this year is averaging about 750k transactions a day. The vast majority of these transactions are for trading and ICOs, DAPP usage is very low. To give you a perspective on this, the top 100 Dapps running on ETH have less than 200k monthly active users, Snapchat alone has 200 million. Nothing but respect for Ethereum, but it has fundamental design problems that make adoption difficult if not impossible for a business. And this is the point, VeChain has analyzed, dissected, and solved these problems by doing what successful tech companies do, leading with the use case, not the tech.

Now, why will VET overtake ETH, and why is this effectively a certainty in my book? Let's look at one small example. I could model this properly, but I am going to keep this very simple because I want everyone to truly see the sheer scale of what we are talking about with what is coming with VeChain, we are going to be very conservative and look at just one partner China Tobacco.

China Tobacco had 172 Billion in sales last year. Let's say their average sale price was $4 per unit. This comes out to 43 billion units. Let's go cheap, let's say it cost 1 cent to track each product. 43 billion units times $.01 times 25% adoption rate, that comes out to $107MM. Let's keep it simple and ignore cyclic elements, cash flow discounts, etc. and say this is normalized on a daily basis. That is $294k a day in usage on about 120MM products a day x # of touchpoints.

Possible Touchpoints:

1) Rolling Paper Origination

2) Filter Origination

3) Tobacco Origination

4) Day of Product Creation

5) Day of Product Shipment

6) Transportation Data (counting as 1 data point, likely many)

7) Delivery Confirmation

8) Box Confirmation, Carton Confirmation, Pack Confirmation at arrival.

9) Point of sale confirmation.

That is ~1.1mm transactions per day, 9 x 120mm. At a conservative estimate of China Tobacco's product line. This means, China Tobacco alone could easily account for a million transactions a day, at these highly conservative estimations, compared to 750k total transactions a day on Ethereum . China Tobacco alone could overtake Ethereum's usage.

When I tell people about VeChain, I don't do so because I want to hype or shill a coin. I tell people about VeChain, because I have modeled them (BI Engineer/Data Scientist) 20 different ways, and there is absolutely no way I see them failing. I see VET as a transformational technological force about to be unleashed on the world, and I truly want people to be able to take advantage of what I believe is about to unfold.

When you hear FUD, consider asking OP to show you their math. VeChain has the most legitimate chance of taking blockchain mainstream in this entire space, in terms of usage, and I include bitcoin in this. VET is going to overtake ETH, it is not a matter of if, but a matter of when. We examined one use case, from one partner, at highly conservative levels. Ask yourself, do you really think this represents their potential?

My 2 VET.

edit: Typo of $170 to $107

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Posted byRedditor for less than 1 year18 hours ago

The VeChainThor address 0x3f7a31b544a0517060fc394e3058942a7f7a307f, you have won the 4th X Node designation! Please be reminded, the designated X Node follows the same requirement and rules of other X Nodes. We will be selecting one more winners, so stay tuned!

Source: telegram

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Posted byRedditor for more than 1 year41 minutes ago

I need some VEN for something I'm doing.

If you have some you can sell me, a small amount, let me know.

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Posted byRedditor for more than 1 year9 hours ago

Hello, I apologize for having to ask this here but I do believe I have done my due diligence in searching around in other threads before coming here to ask. I am trying to convert my ERC20 VEN tokens which are stored on MEW to VET through the mobile wallet token swap. I am trying to follow the explicit instructions on the app for this.

On the app, the instructions under token swap say that I must first bind my mobile wallet by sending 0.01 VEN to the intermediary address. The instructions say to wait 10 minutes before clicking that the transaction was completed. However, after doing this correctly (transferring no more than 0.01 VEN and ensuring that the transaction status says completed on the blockchain scanner) I click proceed with binding in the app and then I get an error message that says no transactions were found. I am sure the address I am sending to is correct. I don't underand why this is happening.

I am also confused about the binding process in general here. I knew people had to bind there x-nodes by transferring the 0.01 VEN, but why do I have to bind my wallet address if I am merely trying to exchange my ERC20 tokens for VET?

So far I have sent two payments of 0.01 VEN to the intermediary address. Both have said completed on the blockchain, but neither have registered in my mobile app. I sent the payments last night around 9:00 PM and again at 11:00 PM, so it has been 15 and 13 hours respectively since I tried this. Can someone try and tell me what I'm doing wrong?

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Posted byRedditor for more than 1 year8 hours ago

Sorry if this has been asked before, I've looked all over and couldn't find a clear answer... However I keep seeing people talking about their generated vethor.

So far I've only found the vechain mobile wallet. Can I stake from there? Does it stake automatically? Is there another wallet I can stake from? Thanx in advance for any help!

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Posted byRedditor for less than 1 year2 hours ago

ok so i have followed the following steps:

First we'll go through the process of setting up your ledger and getting access to your VET address.

  1. Install the Vechain app on your ledger. Apparently you can't do this through the ledger manager chrome app so you'll have to install Ledger live on your computer/mac first: https://www.ledger.com/pages/ledger-live
  2. After live is installed and you've set up your account, plug in and unlock your nano ledger and connect it to ledger live. It will first do some security checks. After they are completed click on 'manager' on the left side of the screen. Make sure that you have no app opened on your ledger, or else ledger live cannot connect and you can't install other apps.
  3. Search for Vechain in the app list and install.
  4. Head over to https://vault.veforge.com/ and open your Vechain app on the ledger. Normally you should see one button "Launch wallet" on the website. After clicking this you will be in the dashboard and be able to see your VET addresses. You'll see several addresses but you'll probably use only one.
  5. Now before you do the token swap make sure you have proper access to your address by sending a small amount of VET to and from it. Don't skip this step! You don't wand to send all your VET to this address and simply making your tokens inaccessible because something went wrong in the address creation. I repeat, do not skip this. Make sure you have proper access to your tokens in the future.
  6. If you don't have VET tokens yet, you can wait until you start the token swap process later on and swap a small amount of your VEN to VET and see if this works correctly.

after finishing number 4. i can see the 5 different VET addresses in my vault.veforge. i cannot see the intermediary address within the vault.veforge.

does that mean i need to download the thor app and swap the tokens that way. then send the tokens from my thor app to my ledger app via vault.veforge?

meaning i wouldn't be protected during the swap part when my tokens are on my phone?

hope that's simple to understand :)

thank yaa!

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Posted byRedditor for less than 1 year1 day ago
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Posted byRedditor for more than 1 year6 hours ago

Then when I need it redownload and restore the wallet then? Thanks fam, go vechain!

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Posted byRedditor for more than 1 year22 hours ago

Saw this map in the latest Mini App the foundation was doing for Qixi, the text reads loosely translates into "Love confessions are securely stored on Vechain Thor network in 101 nodes"

Anyone think the locations on the map are accurate or just a placeholder?

http://imgur.com/JfhPS1U

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Posted byRedditor for more than 1 year1 day ago

Looking at VeForge this morning I noticed that there are a LOT of transactions with 0 VET(or VTHO) transferred. If you take a look at the clause you'll see the hash of someone's data in there. These transactions are happening a bit faster than about 1 tx/per block. Looks like someone has begun writing their data to the chain. Also, since they're spending about 61 VTHO per transaction right now they're spending about 500,000 VTHO per day at this rate to use the chain. It's beginning.

Account owner: https://explore.veforge.com/transactions?address=0xba9431835c17e897ee84ca50e3bdf0e9bdbd8aa8

edit: I also just noticed that all the transactions have an expiration of 720 blocks (2 hours). Not sure what it means, but it's interesting.

edit2: Looks like they began about 8 hours ago and have done ~1100 transactions and consumed about 70k VTHO. https://explore.veforge.com/accounts/0x03b41cef67c1c24282bc1a52cae39a8d5542c2fa

edit3: Thanks u/skythe4 for finding the source. It's a foundation built app to run inside WeChat for Chinese Valentines day. Users are confessing their love for one another and writing it to the blockchain so it can never be disputed. The best part f this little app is that MPP makes it possible for users to have a seemless experience that doesn't require them to handle any cryto.

https://mp.weixin.qq.com/s?__biz=MzU2MjE1MTMwMQ==&mid=2247484921&idx=2&sn=6d4fddbd2713de4b13c1f6542bf22da1&chksm=fc6caf13cb1b2605ad1a426037f6e40d07d009aaab1cc0f4d1499fe5b1beb60ab941cc19a8f0&mpshare=1&scene=1&srcid=08176WDjgNMwCpjdDuGU6cOn#rd

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Posted byRedditor for more than 1 year9 hours ago

According to this announcement the swap should already have taken place. Nevertheless, I still have VEN on my account which I can't withdrawal... Anyone else has the same problem?

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Posted byRedditor for less than 1 year1 day ago

Hey Guys,

as the titel says every single VET trading pair dissapeared from LBANK. Anybody knows why? The most important pair VTHO/VET (from which over 95% of VTHO volume came) is gone.

CCM shows it has been updated 17 hours ago with the last VTHO/VET price:

https://coinmarketcap.com/currencies/vethor-token/#markets

Nobody talks about this.

Whats the matter? Didnt VET win the competition and become like the exchanges main coin or sth?

Thanks for any useful info.

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Posted byRedditor for more than 1 year1 day ago
Moderator of r/Vechain

Welcome!

Welcome to the Daily VeChain Discussion! Please take note of the rules in the sidebar and remember to stay civil and polite when commenting. Feel free to use this thread to introduce yourself, ask a quick question or to share your thoughts on the latest developments. We’d like to hear your ideas, suggestions and concerns regarding VeChain.

For the new people, make sure to keep up-to-date on the latest developments by following the official VeChain Twitter or the VeChain Telegram announcement channel and please take a look at the FAQ in the VeChain wiki before asking questions.


Latest News: Here is a list of the latest developments and important dates


Guidelines:

  • Please make sure to read the VeChain wiki. It should get you started on what VeChain is, what it strives to do and gives you a solid basis for discussion of all things VeChain.
  • News, articles and announcements should be posted in separate threads.
  • Make sure to report any inappropriate comments or behavior. You can contact the moderator team by modmail or by sending a PM to u/GreatWhiteSharkCIA, /u/xSeventhwavex, /u/tendeer or /u/strifesfate.
  • The VeChain Subreddit Rules apply in this thread.
  • Keep discussion related to VeChain.
  • For price discussion, moon talk and memes stick to the Daily Discussion thread.

Resources:

  • Check out the sidebar for good resources on VeChain, such as the subreddit rules, the FAQ, links to social media, the latest reports and partnerships, where to buy VET and other important links and tools.
  • For more price speculation and trading focused discussion check out our VeChain Trader subreddit.

Disclaimer:

  • This is a community-governed subreddit and the posts and comments here do not necessarily reflect the views of VeChain or the VeChain Foundation.
  • If you suspect this thread is being used for ill intent, notify the moderator team via modmail.
  • There are NO VeChain airdrops or giveaways of any kind. Please be aware of scammers trying to impersonate moderators or members of the VeChain team. We will never ask for your private keys or personal information.


Please remember to always operate within the Reddit and subreddit rules and be respectful towards each other. Thank you for being a part of this community and enjoy your stay!

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Posted byRedditor for more than 1 year1 day ago

It seems trivial but wechat has lots of potential and vechain is in a good position to gain mass adoption with wechat through being a China based project and great tech behind it.. (particularly the MPP- multi payment party).. this is what makes vechain stand out from any other dapps platform.

Think about it... mini dapps on wechat that can be fueled by one of the biggest payment wallets and bigger than alipay or Apple pay for that matter (Yeah the China mobile wallet space is that big. Cash is rarely used in China for everyday use)

Some reading below.. but feel free to Google more on wechat or tencent their parent company...

WeChat touts success of its 580,000 'mini programs' Jan. 23, 2018, 10:14 AM 

Tencent is now offering more than 580,000 mini programs on its WeChat messaging platform just one year after their launch, according to statements made by program director Hu Renjie at the WeChat Open Class PRO event in Guangzhou last week. For context, the App Store offered just 500,000 iOS apps from 2008 to 2012. Mini programs are stripped-down apps that can be launched within WeChat’s messaging interface, eliminating the need for consumers to download them separately. Currently, more than 170 million consumers use mini programs on a daily basis. Consumers and developers alike are warming to the mini-app model within WeChat.There are now more than 1 million mini-program developers, up from 200,000 in May 2017. This rapid adoption has enabled WeChat’s mini-program ecosystem to flourish, with mini programs available across a number of categories, including retail, e-commerce, and government services. Furthermore, 95% of e-commerce platform brands have created a mini app.  WeChat’s platform of over half a million apps could threaten traditional app stores in China. That’s because mini programs can be instantly loaded directly within the WeChat app, which helps to keep a majority of users’ smartphone interactions within the chat app.For WeChat users, the app acts as a central hub to the digital world — consumers use it to perform tasks ranging from texting and calling friends, to paying bills for goods and services, to booking doctor appointments.

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VeChain is a global leading blockchain platform for products and information. In the past two years, VeChain has accumulated great amount of experience in providing blockchain solutions to various industries including liquor, auto, luxury goods, pharmaceuticals, retail, logistics, supply chain, food and cold storage etc. To view the full subreddit design visit https://old.reddit.com/r/Vechain/.

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