So VeChain seems to be announcing a new partnership every 4-5 days on average it seems. Every time, I see some people way down at the bottom of the comments (where they should be) saying something like “But they don’t even have a blockchain yet” or “But they’re just an ETH fork”.
So this is here with the intent to educate said people, as well as others who don’t know already.
100% wrong. Not only have they been using their own consortium blockchain for well over 2 years, but VeChain’s consortium blockchain is already the most used enterprise blockchain on earth. After mainnet launch, companies will be given a period of time to convert to the VeChainThor blockchain.
In this video, Sunny Lu, CEO of VeChain, talks about their current chain. The way he puts it, they went with a private blockchain at first some years ago, but that’s like a LAN (local-area network). But now he wants to make the internet. In comes VeChain’s mainnet.
Well, the consortium blockchain I mentioned above is indeed an Ethereum clone they tweaked for efficiency, but that’s doing to be a thing of the past when VeChainThor launches.
VeChainThor/Blockchain X, which are both names for the mainnet, IS NOT AN ETH CLONE. They brought over the EVM from Ethereum’s codebase, to make it easier for projects to leave Ethereum for VeChain (hundreds are trying). They also brought in the Geth data structure for nodes, because, well it’s PoA. There will only be 101 nodes, and they’ll only need to ever download it once really. Why the hell would they waste time writing their own interface for running a node, when Ethereum already has a perfect one? This is an open source space people. The team claims 70% of the VeChain code was written from scratch.
So, yeah. Not only is there a blockchain, there’s been one for years, it’s the most used on earth, and it’s got majority original code. Hopefully, no more FUD about this.