VeChain is the one of the earliest block chain technology companies in the world established in 2015 in Singapore. It is currently used in various industries such as luxury goods, liquor and agriculture. It focuses on improving management process of supply chain. Vedchain is an ERC20 token and running on Ethereum block chain.
VeChain Thor –Consensus mechanism of coin – Proof of Authority.
This model has some similarities with Proof of Stake. But it has developed to remove obstacles presented in Proof of Work (POW), Proof of Stake (POS).
The security is major pillar of block chain and crypto. The VeChain foundation has taken issue of security and given higher priority. It has been working with multiple security firms during their main net testing. The companies are Secureware, Hosho, Slow mist and Hackenproof.
Technically, VeChain/USD is trading slightly higher for the past one week and jumped almost 40% from the low of $2.990 level. On the higher side, near term resistance is around $4.22 (200- day MA) and any break above will take the pair to next level till $4.40/$4.66/$5.25.
The near term support is around $3.67 (55- 4H EMA) and any break below will drag the pair to next level till $3.46 (61.8% fibo)/$2.99.
It is good to buy on dips around $3.75-80 with SL around $2.99 for the TP of $5.22.
VeChain Thor –Consensus mechanism of coin – Proof of Authority.
This model has some similarities with Proof of Stake. But it has developed to remove obstacles presented in Proof of Work (POW), Proof of Stake (POS).
The security is major pillar of block chain and crypto. The VeChain foundation has taken issue of security and given higher priority. It has been working with multiple security firms during their main net testing. The companies are Secureware, Hosho, Slow mist and Hackenproof.
Technically, VeChain/USD is trading slightly higher for the past one week and jumped almost 40% from the low of $2.990 level. On the higher side, near term resistance is around $4.22 (200- day MA) and any break above will take the pair to next level till $4.40/$4.66/$5.25.
The near term support is around $3.67 (55- 4H EMA) and any break below will drag the pair to next level till $3.46 (61.8% fibo)/$2.99.
It is good to buy on dips around $3.75-80 with SL around $2.99 for the TP of $5.22.