VeChain, the leading enterprise blockchain platform, has released a new version of VeChainThor.
As shared on Github, the new version, codenamed v1.7.3, contains various performance improvements. With the new update, the synchronization time on the network will see a significant reduction.
However, users are made to know that full resynchronization will be required when upgrading from VeChainThor versions that are earlier than v1.7.0.
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As highlighted by the VeChain team on Github, the changes added to the new version are shared below:
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VeChain recently did what it does best in the crypto industry by onboarding a unique solution for the luxury goods industry.
As earlier reported by Times Tabloid, VeChain onboarded a solution for luxury goods theft and counterfeit issues in the primary and secondary markets.
According to the update, VeChain has embedded its proprietary chipset within luxury products, which gives the products a unique identification (ID) on the VeChain Thor blockchain.
This gives brands the ability to track their products and also upload key data to the VeChain network. Additionally, this embedded chipset allows companies to monitor their sales channels in real-time, which in turn prevents illegal overstock trading.
The innovation is specifically designed to directly wage war against counterfeit products in the luxury goods industry, by allowing customers to check the authenticity of products, using a mobile phone application.
Read Also: VeChain Grabs Another Mega Deal To Build a Web3 Inventory Monetization Platform
Moreover, it can help brands provide extra information about products for clients, in order to boost their trustworthiness.
The report says, “Customers can even craft their own stores, creating an emotional bond with their products by uploading their moments to the VeChain platform. User-generated content offers brands valuable feedback and insights to their customers so that they can optimize their brand experience and customer relationship management strategies.”
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