VeChain (VET) Unveils New Feature, Enables Users to Create and Manage Wallets Using Web2 Social Identity

VeChain (VET) unveils an interesting addition as its latest feature enables users to create and manage wallets using Web2 social identity such as emails

VeChain (VET) has unveiled an exciting new feature that will make it easier for users to create and manage wallets. Now, users can utilize their Web2 social identities, such as emails or social media handles, to set up and maintain their wallets. This addition is part of a broader effort to enhance the user experience and drive Web3 adoption.

According to a demo video shared by Vineet Singh of VeChain, users can now copy product keys or export account seed phrases with ease. Additionally, they can opt to add a passkey for increased account security.

This fantastic addition to the VeChain ecosystem now allows users to create and manage wallets as effortlessly as logging in to their preferred social platform. The goal is to place Web3 applications in the hands of millions, and innovations like this bring us a step closer. Well done, @agilulfo18! $VET https://t.co/Aaa9CN3DHl

This significant development comes as VeChain prepares to holistically upgrade its VeChainThor through a technical roadmap called VeChain Renaissance.

The Renaissance Upgrade As we reported earlier, the VeChain Renaissance generally seeks to achieve two main objectives – Reimagined Tokenomics and Technological Equivalence. A complete realization of this upgrade would enable greater decentralization, new validator opportunities, and Modified VTHO Tokenomics.

Under technological equivalence, VeChain seeks to ensure easy communication with other networks by meeting the standards of the industry. As we reported earlier, the Ethereum Virtual Machine (EVM) and JSON-RPC are currently marked as the standard of communication, and finalizing this holistic upgrade would trigger ease of integration, cross-chain, developer adoption, and institutional or enterprise integration.

We have brought some incredible tools to the table thus far, ranging from our unique two-token model to fee delegation, which abstracts away the need for users to hold crypto assets. By opening our blockchain to other EVM-chains, we offer our unique selling points to the market and benefit from innovations elsewhere.

Despite these new additions, VeChain’s native token, VET, has seen a decline of 9% in the last 24 hours and 20% in the last seven days. However, its 30-day and 90-day gain remains positive, with a 41% and 93% surge, respectively.

Analysts Delve Into VeChain’s (VET) Price Analysis An analyst known as UNO 1 believes that VET is significantly undervalued, especially given its recent groundbreaking partnership deals with the likes of UFC, Kuehne + Nagel, BMW, Walmart, Haier, and Shanghai Gas. As we highlighted earlier, he feels that the asset's dominance in the Real World Assets (RWA) industry is yet to show in its price.

Designed for supply chain management, utilizing a unique dual-token system and a Proof-of-Authority consensus mechanism to enable fast, secure tracking of physical goods throughout their lifecycle, making it ideal for businesses looking to verify authenticity and monitor product movement within complex supply chains, unlike many other general-purpose blockchains.

According to World of Charts, VET is forming a bullish pennant pattern that could position it for an explosive run. Meanwhile, analyst Michaël van de Poppe believes that a current consolidation of the asset is healthy.

Also, the uptrend has not yet started, as 2025 could be a huge year for the asset.

$VET is ready to continue moving. It has seen a substantial move upwards as, fundamentally, the ecosystem is thriving. As we can see, those periods often conclude with a period of consolidation. Overall, the uptrend has barely started, and as VeBetter is the cornerstone and quickly expanding, I expect we’ll see a strong 2025 for the entire VeChain ecosystem.

Recommended for you: