VeChain is undergoing a major upgrade called VeChain Renaissance, which aims to achieve two main goals: reimagined tokenomics and technological equivalence. The upgrade includes changes to the tokenomics model, such as a revamped staking model and modified VTHO tokenomics. It also aims to improve interoperability by implementing new functionality for the Ethereum Virtual Machine (EVM), allowing for cross-chain compatibility and a dynamic gas fee market. VeChain believes that these upgrades will help the network to meet industry standards and communicate more easily with other networks. The upgrade is driven by emerging regulations and the requirements of institutional players. As of now, VeChain's native cryptocurrency, VET, is trading at $0.067.



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