Getting added to a cryptocurrency exchange or a trending wallet is always a milestone for cryptocurrencies and altcoins in the industry. The Trust wallet is an application that enhances trade of tokens on blockchain. It increases the awareness surrounding that coin thus boosting the exchange platform. VeChain marked this milestone on the 27th of September when it was announced on twitter that the cryptocurrency had been added to the popular Trust Wallet.
Recently, the famous cryptocurrency trading exchange, Binance acquired Trust Wallet. The goal of the acquisition is to offer the public a more satisfying experience by providing top notch security. Before the acquisition by Binance, Trust Wallet was an anonymous platform that was not widely known and used. Now that it has added VeChain and still has a lot of other well-known cryptocurrencies (e.g. Ethereum) in their system, it is slowly becoming very popular with new users who can easily access their tokens on the wallet anytime of the day on both Android and iOS devices.
The CEO of Binance, Changpeng Zhao (commonly known as “CZ”) has also affirmed that this is one of the best wallets in the cryptocurrency market and that the Trust Wallet will incorporate some other coins and tokens in the future. These upcoming tokens to be incorporated include some of the most popular cryptos of the moment like the mighty Bitcoin (BTC), Tron (TRX) andNEO.
“Safe Haven is proud to announce Thorblock, the first communal funding turnkey solution on the VeChainThor Blockchain.” – Twitter
Thorblock is a Safe Haven product whose main objective is to basically manage and account for the pooled payments made to contributors on the VeChain crypto exchange. This is executed such that Thorblock allows an individual to form their own pool of favorite coins, tokens or sales they intend to trade or buy on VeChainThor Network; the individual can then track their already created pools and invite others to fund these pools.
Thorblock then comes in to ensure that each funder and event the pool-creator gets a fair share of the contribution and is assured of security. This is advantageous as the contributors who now fund the pool have an opportunity to invest in a pool that they would have otherwise not invested individually.
A few advantages of Thorblock integration is that it allows for investors who don’t’ have the capacity to invest on their own to invest as a group pf pooled investors. Also, Thorblock is a good monitoring tool as each person gets a fair return on their investment and enhances a lot of monitoring, evaluation and security on the pools.
Furthermore, operating on VeChainThor Network allows the holders of the new nodes to make an exchange of VeThor token for either VeChain Coin or SHA. This is a proper feature of the new technology as it allows contributors and other uses within the VeThor Community. This allows members to further take full advantage of the power they have to generate the VTHO token.
On the downside however, Thorblock operation is only available for new wallets and does not allow contributors to use already existing noes in other wallets. This means that for each new node, it has to be put in anew wallet to allow for Thorblock operation. Consequently, each node that’s already in existence needs to be put in the contributor’s new wallet so s to avoid loss of status by individuals.
Additionally, if a contributor wants to easily access the added advantage of exchanging VTHO for either VTC or SHA requires that the contributor necessarily has already bought the SHA coin and stored it in the new wallet for future exchanges.