hey guys Vechain is launching its own mainnet. in this blog I would like to talk about what is the process we should expect regards the main network launch and how to conduct your VEN ERC20 token when it opens into new VET token swap. After rebranding Vechin into Vechain Thor the mainnet launch is just a moment away. In fact if you're watching this video after June 30th. mainnet is most likely live June 30th is the date that was scheduled for the mainnet launch. the team behind Vechain foundation also stated that if there is any bugs are founded as the code has been added by security firms. then the date will be moved further so until any updates have been released June 30th is the target date for the official main that launched. the team is working on final preparations for the mainnet launch and live version of Vechain thor during the final preparations among which beta testing of upcoming network took place. the team has also gone forward with announcing several partnerships that will come as integration for the future development and upcoming mainnet Thor. Vechain foundation has also published an official timeline to help the community follow up with the launch and new mainnet and according to published timeline Vechain Thor should get to see the first public user on June 30th.
Vechain THOR Masternode
That way entering July as well as a brand new stage for VEN soon to become that token. the mainnet is set to be officially started with authority masternode deployment for the livenet followed by the generation of Genesis block. which would at the same time make the birthday for the Vechain THOR. the team has also added on the published timeline that the new wallet for reaching Vechain THOR should come out on July 9th. while X-node binding service should become available on the same day somewhere in mid July.
Vechain - Vechain THOR Token Swap
the token swap should be concluded with VET so can ready trading on exchanges where they are available. the exact time when the live trading of VET tokens will be arranged with exchanges platform. that support which ain't trading and transactions so if you want to swap your VEN ERC 20 Tokens into new VET tokens. you can either move your tokens to exchanges such as Binance that will support reaching token swap. if you do not trust exchanges then you will help to move your tokens official vechain wallet.
when it comes to token swapping every VEN ERC20 token will be equal to 100 VET. that this means that so can swap is not 1 to 1 ratio but rather 1 to 100 ratio. if you currently have 100 ven tokens then after the successful process of tokens weapon is completed you should have 10,000 new VET tokens.
Vechain THOR VET Token Usage
VET tokens will be used by companies as the smart payments currency to run business activities on the blockchain. Businesses who hold the most of will be given higher priority and more rights on the new Vechain THOR blockchain. but there will be additional tokens given to the VAT token holders they're called THOR. THOR tokens can use to perform smart contracts and run Decentralized applications on the blockchain. this is similar to the way NEO produces GAS for its holders. the base generation of THOR for VET holders is 0.0004 in suit or pair one VET pair single day it is expected that the exchanges will complete the process of talking swapping by the end of July. this means that once exchanges are done with their part reaching foundation will be providing token swap service to their users for division community. there is also great news soon you'll be able to store your new VAT tokens in the coal storage offline as the ledger nano s integration with VAT tokens is scheduled somewhere in August. while the exact date is still yet to be determined based on overall progress of the mainnet launched. in addition to the mainnet launch and so can swap from VEN so VET tokens all holders with a minimum of 10,000 ven can become eligible for a VAT master node while holding the given number of tokens masternodes will give you the privilege of voting to influence.
Vechain THOR VET Token Blockchain
The governance also you will receive default rewards that will be set by the foundation. THOR mainnet is said to be more scalable and more stable comparing to the current chain. That VEN uses the current chain was used for transactions and operations with VEN tokens but with the new chain calls Vechain THOR blockchain should provide an increased level of scalability. This is the fact because the team is planning to have vast number of smart contracts being operated on the upcoming division tour may not work which is why the network is designed to be able to acquire a certain level of stability in the market for the future of VAT tokens.
Vechain THOR will act as Blockchain-As-A-Service (BAAS) working in many ways as a supply chain. the THOR main network is said to have the main goal of becoming one of the largest platforms for deploying decentralized applications in order to diminish the need for trust between two parties when it comes to supply chain industry. Vechain THOR will be providing that trust factor in order to provide a needed technology can down goods. for more details you can check out updated version of its white paper that talks about projects plans to enter into IOT blockchain IDs supply chain logistics and government operations the network should cancel and become one of the largest ecosystems for decentralized applications. along with providing a more stable rate of growth for VET tokens in the market.
So this is the end let me know what you guys think about new Verchain or leave your thoughts in the comment section below. if you enjoyed this blog hit that upvote button and if you're new to this channel do not forget to follow for more blogs or info about cryptocurrencies and blockchain technology. other than that thank you for reading and see you next blog
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