VeChain, a supply chain blockchain initiative, has announced a new collaboration with Alchemy Pay, a crypto payment service, that will allow customers to use its VET token as payment in over 2 million retailers across 70 countries.
VeChain was among the first coins to be supported by the new Binance Bridge 2.0. The Binance Bridge 2.0 introduces a new method for transferring Ethereum tokens to the BNB Chain, formerly known as the Binance Smart Chain.
VeChain is a supply chain tracking system that launched in 2015 and combines physical tracking with blockchain record keeping. VeChain currently works with a diverse range of organizations to provide logistics and supply chain-focused tracking solutions.
VeChain leverages a Proof of Authority (PoA) consensus mechanism which has 101 master nodes and functions by verifying identities and reputations, instead of staking or mining.
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