The VeChain (VET) enterprise blockchain protocol has reportedly received a groundbreaking patent in the US. According to cryptocurrency researcher Collin BROWN, the patent was issued on October 23 and focuses on VeChain’s potential as a transaction processing protocol.
According to the abstract, the patent highlights the VeChain protocol’s ability to process multiple transactions at a time, a feature that could successfully boost its role in commercial adoption. Today, VeChain is recognized as one of the most prolific blockchains in enabling supply chain efficiency as well as sustainability efforts. VeChain’s current patent will further expand its reach into a new market while driving growth in other regions.
Unlike other payment and enterprise protocols in the industry, VeChain is considered undervalued. At the time of writing, VET is trading at $0.02079, up 1.22% over the last 24 hours. Overall, the future of VeChain looks bright, given the related updates taking place in the ecosystem, as well as the desire to attract more developers who will help bring its vision on-chain.
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