VeChain VET to Aave LEND Exchange

Crypto Pair Details: VET to LEND

VeChain VET

VeChain is a blockchain-enabled platform that is designed to enhance supply chain management processes. By utilizing tamper-proof and distributed ledger technology, VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought. From product source materials, to servicing history, and spare part replacements, every single piece of information about the supply chain movement of a product can be recorded and verified to bring about a supply chain management ecosystem that is secure for all participants. VeChain plans to achieve this secure supply chain management ecosystem via the method of asset digitization. VeChain enables manufactures to assign products with unique identities to the platform. This will allow manufacturers, supply chain partners, and even consumers, to track the movement of products through their supply chain. There is also the VeChain Foundation. The Vechain Foundation is a non - profit entity established in Singapore in July 2017 and is responsible for the construction of the network, and technological research and development. The Foundation also plays an important role in business development. The Foundation encourages and supports partnerships with enterprises that may be interested in utilizing blockchain technology as a service. This includes payment services, private key management, smart contract development, and wallet development. There is no doubt that blockchain technology can be an important innovation to supply chain management. With a growing list of business partnerships and technological developments, VeChain is positioning itself to be THE disruptive, and innovative force that reshapes the way we think about supply chain management. The solution of 'hard forking' has made people question the idea of 'de-centering' of Ethereum and even Blockchain. This way of governance is not so much a 'democracy' as an 'anarchy.' VeChain development team highly regards blockchain’s decentralizing nature, yet intends to adopt some traditional corporate governance and thus improve the efficient formulation and implementation of the VeChain development and strategy for the benefit of the community to prevent and avoid serious blockchain design philosophy differences and irreconcilability. Sunny Lu is the CEO of the VeChain Foundation and has already become an important figure in the blockchain space. Before he established VeChain, he co-founded the Chinese Internet start-up which developed Qtum, a very important digital asset in the crypto space. He was previously the CIO and COO of Louis Vuitton China.The team behind VeChain consists of over 90+ employees, most of them being developers. Chief Technology Officer, Gu Jianliang, has over 18 years of experience in areas such as mobile devices and the IoT field, and has created over a 100 patents in several technological fields. Kevin Feng serves as the Chief Operations Officer of the VeChain Foundation. Feng has been actively involved in many technology projects in his 12 years working for VeChain’s partner, PWC, as a consultant and assurance advisor.

Aave LEND

Aave is a decentralized lending platform that runs on Ethereum Network which offers secure, peer-to-peer lending Smart Contracts. Aave strives to break through the traditional bank loans system with a more efficient solution. Aave also uniquely allows a borrower and a lender to decide on important loan details that can eliminate the need of a middle man. Due to the elimination of middlemen, process fee for a loan does not exist on this platform. This provide convenience to any lender and borrower to create loans on their agreed terms. Decentralized lending has fixed many issues and one of the reasons why is the transparency of loan. The Ethereum network provides a transparent ledger where all transactions are available to be inspected. Secondly, it isn’t necessary to find a trusted loan provider because all collateral which is the digital asset for loans are stored and locked in a smart contract and broadcasted on the public ethereum blockchain. It is also flexible for borrower to manage the collateral by refilling or withdrawing part of it. Borrower may make such changes when the lender is notified and aware of such movement. If the lender finds out that the action is not communicated, the lender is allowed to initiate a margin call. This year, Aave has made a major upgrades in its Q1 2018. They have deployed the new development for their peer-to-peer lending application named Alpha 0.3. The development process of Alpha 0.3 has started since the early of 2017. The new release also includes a completely new user interface which targets to lower the learning curve of user experience on the app. Furthermore, the new user interface has new sections to make lending process simpler such as including a ‘My Loan’ section, collectible badges and more. Other than that, the team is also in the process of developing more updates for the smart contracts. Hence, the team has decided to provide zero-fee lending with the use of LEND token as a medium of exchange, as an alternative to borrowing in Ethereum. The purpose of this is to provide a cross-blockchain lending currency which will prompt users to use LEND as the medium of exchange.

SOURCE: COINGECKO

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