VeChain Boosting News: VeKey Will Be At The Center of VeChain Blockchain Revolution

According to the latest VeChain future prediction on Crypto Briefing, the VeChain VeKey infrastructure has what it takes to boost security on the VeChain mainnet during deployment. The VeChain VeKey Based Threshold Signature Turnkey Solution eliminates the single point of failure (SPOF) risk that plagues blockchain wallets. It is a combination of software and hardware enterprise-grade solutions that was unveiled during the VeChain Summit 2019. The VeChain Foundation had this to say about VeKey;

“Featuring hardware-based encryption, memory access control unit, attacks detection, random number generator, and SPA/DPA anti-attack, CG4Q series chips provide robust bank-level security protection and superb performance sufficient to meet the enterprise clients’ demands of security.”

VeChain VeKey prevents the single point of failure problem by breaking wallet private keys into several parts and storing them on separate VeKey devices. So, no one has exclusive access to the VeChain wallet. In the event that one enterprise member who had a part of the private key is no longer available, the other members can recover the key as long as they can provide the predefined number of VeKeys. It is an easy but efficient solution to the SPOF problem.

By developing VeKey, VeChain has become more attractive to companies that have not yet deployed blockchain solutions and to those that are with other blockchains like Ethereum. This is because private key security is still one of the biggest factors holding blockchain technology from reaching mass adoption.

VeChain Thor Price Prediction

VeChain (VET) Price Today – VET / USD

It’s true that the VET coin is still far from Ethereum, EOS, Tron and other leading decentralized computers. However, with the VeChain partnerships, the VeKey and other developments on the VeChain blockchain, the VET coin has the potential to reach the top ten soon. It will certainly play a significant role in the next…

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