VeChain (VET) achieves significant progress with the launch of self-custody wallet.

VeChain (VET) achieves significant progress with the launch of self-custody wallet.

VeChain Launches VeWorld, a Self-Custody Wallet, Bringing Enhanced Functionality to the Blockchain Ecosystem

VeChain, the enterprise-focused L1 blockchain, has recently announced the official launch of VeWorld, its new self-custody wallet. This release represents a significant milestone for the VeChain ecosystem, as it provides an essential piece of infrastructure for the crypto community and showcases the achievements of the dedicated development team.

VeWorld integrates with WalletConnect, an open-source blockchain standard that facilitates the seamless connection and interaction between users’ wallets and decentralized applications (dApps). Acting as a bridge between Web3 wallets and the dApps ecosystem, WalletConnect enables interoperability and offers developers and the broader VeChain user base a range of exciting possibilities.

By unveiling VeWorld, VeChain adds a powerful tool to its arsenal, further cementing its position as a leading blockchain platform. This self-custody wallet not only enhances convenience for users but also contributes to strengthening the overall security and reliability of the VeChain ecosystem.

“Our developers have poured their efforts into creating and delivering an exceptional VeChain wallet. Today, we are thrilled to announce the culmination of their hard work,” stated a blog post announcing VeWorld’s launch.

Features of VeWorld

The initial release of VeWorld introduces several exciting features that streamline user experience and expand the capabilities of VeChain’s native token ecosystem. Key functionalities include:

  1. Support for VIP-180 tokens: VeWorld enables users to interact with VeChain’s native token standard, allowing seamless token transfers and transactions.

  2. Currency conversion: Users can conveniently convert their assets into Euro or USD, offering flexibility and accessibility in managing their finances.

  3. Fee delegation: VeWorld empowers users to delegate transaction fees, improving convenience and simplifying the fee management process.

VeWorld is currently available on both iOS and Android platforms, providing widespread accessibility for the VeChain community.

According to VeChain’s official Twitter account, the launch of VeWorld is just the beginning of a journey towards continuous improvement and innovation. Future upgrades are planned to introduce a host of additional features, including:

  1. VeChain dApp store integration: Users will have access to a wide range of decentralized applications, further expanding the utility of VeWorld.

  2. Fiat on/off ramp: The integration of fiat currency gateways will facilitate the conversion between cryptocurrencies and traditional fiat currencies, ensuring enhanced liquidity.

  3. DEX functionality: VeWorld will integrate decentralized exchange (DEX) capabilities, allowing seamless asset trading within the wallet.

  4. Support for asset-bridging: Users will have the ability to transfer assets across different blockchain networks without intermediaries, enhancing interoperability and connectivity.

  5. Carbon footprint tracking: VeWorld aims to incorporate environmental tracking features, providing users with insights into the sustainability and carbon footprint of their transactions.

VeChain (VET) Price

At the time of writing, VeChain (VET) was trading at around $0.01720062, experiencing a decline of approximately 2.6% over the past 24 hours. This decrease in price aligns with the broader cryptocurrency market, which observed a 1.8% drop due to price fluctuations in leading cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH).

Bitcoin plummeted to $26,600, while Ethereum dropped below $1,600 as the market reacted to central bank monetary policies. Furthermore, persistent fear, uncertainty, and doubt (FUD) across the crypto market have contributed to a cautious sentiment among investors.

In conclusion, the launch of VeWorld represents a significant development for VeChain and the wider blockchain ecosystem. This self-custody wallet not only provides enhanced functionality for users but also demonstrates VeChain’s commitment to advancing blockchain technology. With future upgrades and planned features, VeWorld is poised to become a comprehensive and user-friendly solution, further driving the adoption and utility of VeChain’s ecosystem.