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Recent Journal References VeChain as Blockchain with Consensus Protocol That Produces Green NFTs

The utility embedded in the VeChain blockchain is gaining much-needed recognition in the fast-growing non-fungible token (NFT) sector.

VeChain blockchain was recently referenced in a journal article that focuses on the impact of NFTs on the environment. This was shared on Twitter a couple of hours ago by eisenreich, a stern VeChain community member.

Read Also: VeChain-Based Non-Fungible Token (NFT) Projects and Marketplaces

In the journal, it’s stated that some blockchains are currently not producing green NFTs due to the impact of their consensus protocols on the environment.

The major blockchain that falls into this category is the largest smart contracts platform, Ethereum, which is currently powered by a proof of work (PoS) consensus algorithm. But the journal has a different thing to say about the VeChain blockchain.

The journal article describes VeChain as a blockchain with a consensus protocol that needs to be encouraged over the more polluting versions.

eisenreich tweeted, “VeChain x Green NFTs. VeChain was highlighted in a recent journal article on the impact of NFTs on the environment. “Consensus protocols [like VeChain] ought to be encouraged over the more polluting versions on environmental grounds.”

Read Also: VeChain Toolchain Adopted By a Premium Ginseng Snack Producer in China for Quality and Brand Enhancement

The journal reads in part as follows:

“There are alternative blockchain networks to host NFT platforms that are significantly less energy intensive because they have adopted alternative consensus protocols, such as Tezos and VeChain. Such consensus protocols ought to be encouraged over the more polluting versions on environmental grounds.”

Grayscale Investments Confirms Consideration of New Products in VeChain (VET)

As announced by Grayscale Investments, the world’s largest crypto asset manager, VeChain (VET) is currently being considered as a new product offering on its platform.

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Read Also: VeChain’s First Native StableCoin Set to Launch. What Users Must Do To Avoid Delays in Being Able to Mint/Burn VeUSD

The firm came up with the list of new digital assets under its consideration as a result of its quest to better meet the growing investor demand for exposure to other emerging crypto assets.


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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
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