VeChain’s revised timelines – Aims to adopt the go mobile strategy

VeChain Foundation has released their revised timelines with some added functionality like “wallet observation function”. With this release, they intend to adopt the go mobile strategy in promoting the mobile computing age in the ways that their clients [investors/traders] were accustomed.

VeChain Foundation's tweet | Source: Twitter

VeChain Foundation’s tweet | Source: Twitter

“The VeChainThor Wallet will be the portal to all kinds of Dapps on the VeChainThor Blockchain. This wallet will be chock full of features, services, and opportunities that the word wallet may even be limiting.”

VeChainThor [VET] wallet, being a critical part of VeChain’s vision, aims to be sure that their mobile wallet is “as secure as it could possibly be”. Its said that they have employed the weight of third-party auditors and picked through every line of code to ensure security. They quote:

“We dare say, it might be one of the most secure wallet in any market.”

It is their idea to make a “migratable asset” easily integrate with the “third-party wallets” while retaining the “X Node status”. Their revisited plan includes:

  1. VeChainThor Ledger application release date – tentatively by August.
  2. VeChainThor Wallet release date— July 9.
  3. X Node Binding Service is scheduled to begin from July 9th until 10 days after the VeChainThor Ledger app is available for migration.
  4. Exchanges are said to provide token swap services to traders starting mid-July.
  5. The mobile wallet token swap service is said to start the same day that the X Node Binding Service ends.
  6. X Node monitoring will resume roughly three weeks after the mobile wallet token swap service is available.

To be able to achieve the needs of the community, VeChain is said to add “wallet observation function” to the VeChainThor Mobile Wallet which will enable users to create their VeChainThor Wallet addresses through other methods [i.e. hardware wallet or desktop wallet]. This observation function is said to allow users to complete X node binding, token swap, and economic node management through the mobile wallet.

Their blog mentions:

“We believe this is the best way to strike a balance between our desired security level and user functionality.”

“Users intending to bind their X Node to their Ledger must wait for Ledger support. When support arrives you will create the VeChainThor address using the Ledger application and not through the VeChainThor mobile application. This Ledger address will also generate and store VTHO. Economic and X Node rewards distribute every Monday.”

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