u.today
VeChain (VET) is on a bullish rampage today after its price topped $0.03049 amid a 14.36% growth. For a token whose price action is hardly in the limelight, it has grown by more than 32.85% over the past week.
As an enterprise-grade Layer-1 smart contract platform, VeChain has been making significant inroads in terms of its adoption across a wide range of industries. Despite its versatility and diversity in application, VeChain has been particularly well drawn in the fight against climate change.
In one of the latest updates, the protocol has recanted the unique capabilities of VeCarbon, its zero-threshold carbon management software-as-a-service (SaaS) protocol. Per the update shared by Twitter user @eisenreich, a VeChain Foundation educator, hundreds of companies have utilized the VeCarbon protocol to effectively manage their own carbon emissions.
VeCarbon is a zero-threshold carbon management #SaaS. At present, hundreds of companies have achieved efficient management of their own #carbon emissions and the carbon footprint of their products with the help of the #VeCarbon. đ#VeChain $VET #Sustainability #Blockchain #Tech https://t.co/bqtaoAvQrg pic.twitter.com/ayRV66116i
â eisenreich (@eisenreich) February 19, 2023
With every blockchain protocol unique in its own way, VeChain has a visibly different model from the regular focus on decentralized finance (DeFi) and non-fungible tokens (NFTs). For its enterprise-grade solutions, however, the protocol is gaining immense traction through high-profile partnerships and integrations of its core solutions.
Building on months of protocol upgrades
As an enterprise-grade blockchain protocol, VeChain has to meet the demands of millions of users at a time. The smart contract platform has been building its protocol through scheduled upgrades over the past few months. The network's biggest mainnet hard fork went live toward the end of last year, sending prices up in the wake of the FTX implosion.
Besides its growing enterprise adoption, the second key trigger for VeChain is its protocol's durability, a feature that is necessary to help power up its broad-based utility.
VeChain has pushed the boundaries of what is possible in terms of the utility aspect of blockchain protocols. With its current on-ramp partnership with Simplex, more traditional industry players can access and enjoy the protocol's speed, and low transaction costs among other features.