VeChain mines its first block: Here’s what you need to know about it

The VeChainThor MainNet was successfully launched earlier today. The first block was mined at 08:00:09. The main net launch is one of the significant breakthroughs for the VeChain community. The official agenda was launched by the VeChain Foundation on June 22nd to enable the community to check out with the launching of the new MainNet.

Sunny Lu, CEO of VeChain described that if people look at all the existing public blockchains, there is a common economic model which is from Bitcoin that tries to motivate more people to join the network. The price to make use of public blockchains is connected to the token evaluation on the blockchain.

VeChain, with its cryptocurrency VET, is a blockchain platform that focuses on financial services, supply chain management, and smart contracts.

June 30th will also witness the forging of the VeThor post the generation of Genesis Block, and the snapshot on Ethereum and X-Node Monitoring will be done.

July 9th will witness the availability of the VeChainThor mobile wallet. LG and Sony are some of the major companies partnering with VeChain for the wallet. The X-Node Binding service will be available on the same day as well.

Mid-July will witness the exchange of VeChain token swap and VET will start trading on the VeChainThor Blockchain. VeChain Foundation will administer the continuing token swap service after the exchanges complete the token swap. X-Node status monitoring will recommence on the VeChainThor Blockchain and the rest of the August will witness the VeChain token integration with Ledger.

A Redditor named bozzy253 commented:

“Whenever VET reaches $1.66 after the 1:100 split, the smallest tier of x node (600,000 VET) will be worth ~$1 million USD.”

Another Redditor warchaser commented:

“It’ almost like they know what they’re doing… Quite an anomaly in this space overflowing with unfulfilled promises, delays, and drama. These guys have world class leadership, technology, economic ecosystem, business partnerships, marketing. Vechain ticks all the boxes in my opinion. And I know a few billionaire investors who agree with me and put their money where their mouth is.”

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