• Magma, a Web3.0 real estate startup, has announced plans to tap into the advanced technology of VeChain for its sustainability initiatives.
• VeChain’s Proof-of-Authority (PoA) consensus mechanism was chosen due to its low gas fees and sustainable solutions.
• With VORJ, cross-chain bridges, EVM tools and other innovative products launching, VeChain is opening up powerful and agile technologies to builders and developers from across the Web3 space.
Magma Chooses VeChain
Magma, a Web3.0 real estate startup, has announced plans to tap into the advanced technology on offer by VeChain for their sustainability initiatives. The startup chose Vechain as it provides a high level of flexibility with its advanced smart contract functionalities. The protocol’s consensus mechanism called Proof-of-Authority (PoA) was chosen due to its low gas fees.
Digital Twin Token
The Digital Twin Tokens that will be built on Vechain will allow the reusing, repurposing, recycling, and reselling of elements of the building it is offering for sale. This will enable stakeholders on Magma to create energy efficient buildings using blockchain solutions while also reducing carbon emissions.
VeChain’s Push Into Mainstream
With mounting integration and influence in the industry, Vechain said it is pushing its proprietary sustainability tech into the mainstream by making it open source. It is releasing products such as VORJ, cross-chain bridges and EVM tools which are aimed at providing builders and developers from all over the Web3 space with powerful technologies that can easily be adapted for various applications such as DApps development .
VET Rebuild Momentum?
With mounting integration between Magma and VeChain we can expect VET to rebuild momentum for a bullish rally as more companies continue looking towards VeChain as an industry leader in terms of carbon management reduction solutions.
In conclusion , through partnerships like these with Magma , we can see how much potential there is for bigger companies adopting blockchain technology especially when it comes to sustainability initiatives . As more companies look towards platforms like Vechain , we should expect further support for projects like this which could potentially lead to higher prices in major cryptocurrencies like VET .