VeChain (VET) has introduced a groundbreaking feature, enabling users to create and manage wallets seamlessly through their Web2 social identities, including email and social media accounts. This innovation, demonstrated in a video by VeChain’s Vineet Singh, simplifies wallet management by allowing users to copy product keys, export seed phrases, and add passkeys for enhanced security.
VeChain’s official announcement highlighted the feature’s goal of democratizing Web3 adoption by making blockchain applications as accessible as social platforms. “Our aim is to bring Web3 apps to millions, and innovations like this bring us closer,” the VeChain team shared.
A fantastic new feature for the VeChain ecosystem 👏
— VeChain (@vechainofficial) December 19, 2024
Now you can create/manage wallets as easily as logging in to your social platform of choice.
Our goal is putting Web3 apps in the hands of millions. Innovations like these take us a step closer.
GG, @agilulfo18! $VET https://t.co/Aaa9CN3DHl
The Renaissance Upgrade
This feature arrives alongside VeChain’s ambitious VeChainThor upgrade, branded as the Renaissance. The upgrade aims to achieve two primary objectives: Reimagined Tokenomics and Technological Equivalence.
- Reimagined Tokenomics: Introduces improved decentralization, new validator opportunities, and revamped VTHO tokenomics.
- Technological Equivalence: Ensures interoperability with industry standards like Ethereum Virtual Machine (EVM) and JSON-RPC, streamlining cross-chain integration and developer adoption.
“We’ve built innovative tools, including a dual-token system and fee delegation, eliminating the need for users to hold crypto,” the VeChain team noted. This openness to EVM chains ensures VeChain’s unique features can integrate seamlessly with broader blockchain ecosystems.
Also Read: VeChain Partners with LETSTOP to Enhance Road Safety and Sustainability, Driving VET Surge
VET Price Action
Despite these advancements, VeChain’s native token, VET, has faced a slight dip in the last 24 hours and a 20% decline over the past week. However, its longer-term performance remains robust, with 30-day and 90-day gains of 41% and 93%, respectively.
Analysts remain optimistic, with predictions of a bullish pennant pattern positioning VET for a potential breakout. Analyst Michaël van de Poppe considers the ongoing price consolidation a healthy phase, while others highlight VeChain’s undervaluation given its high-profile partnerships with organizations like UFC, BMW, Walmart, and Shanghai Gas.
By blending supply chain innovation with cutting-edge blockchain technology, VeChain positions itself as a leader in real-world asset integration and Web3 accessibility.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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