VeChain (VEN), one of the fastest growing cryptocurrencies announced via a Twitter message that the testing of VeChainThor Alpha started on May 18. The digital platform has been designed to offer various services to investors and entrepreneurs including financial services, smart contracts as well as supply chain management among others.
While VeChain has already established a name for itself as a leading blockchain network, the launch of VeChainThor Blockchain will take it to the moon. Besides, the blockchain will cement its position in the industry a go-to platform for smart contracts, blockchain based financial services as well as the execution of fast and affordable transactions.
VeChain (VEN) will also be rebranding from VEN to VET after the release of the blockchain technology. The network is rebranding in order to mark the start of a new phase in the industry and its growth journey. The announcement was relayed on Twitter and the team has already begun making plans to endure that the launch and the rebranding processes are properly executed. VeChainThor has been tested in-house and is now ready for public testing. In one of the announcements on Twitter VeChain (VEN) team wrote:
“The VeChainThor Alpha Test starts today! In addition to the testing by multiple professional security firms, we will host a private bug bounty program on the Hackproof platform.”
While commenting on the test, VeChain Foundation added:
“The public beta test is approaching! During this test, we will officially make our code base public. Additionally, we will be looking to bring on 100 community testers for our public alpha to work alongside esteemed cybersecurity organizations.”
The public testing exercise is being conducted to ensure that the launch will be both secure and smooth. The blockchain as mentioned earlier has been tested internally since Mid-April. The public testing that was started yesterday had been scheduled for Mid-May. VeChain (VEN) Foundation recognizes that hiccups cannot be tolerated in the financial enterprise world. For this reason, it is handling the matter with utmost consistency and performance.
Furthermore, as the announcement indicated, VeChain is preparing to vet in addition to approving 100 public testers. The testers must have the capability of performing harsh and excellent cyber security and smart contract bug testing. The vetting process will be taking place until early June and applications are still open even as I write. While referring to the importance of the test, VeChain Foundation said:
“The 100 selected participants will have a background in cybersecurity, blockchain development, enterprise software development, enterprise application testing or other suitable experience and skill sets. These participants will receive bounties for their work while working alongside the VeChain Blockchain Core team to provide critical insights on improvements.”
The code will be available to the public alongside the testing of the Public Beta version. All these events are scheduled to take place in early June. The community will also be able to test their blockchain and their wallets for integration and ease of performance. The public beta test will be extended to the time of the mainnet launch, which should be taking place by the end of June.