CDS Crypto News VeChain Introduces Auth-Service
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VeChain Introduces Auth-Service

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VeChain Introduces Auth-Service
VeChain Introduces Auth-Service

With this new system introduced to VeChain users, they can personalize their wallet by changing the name of their wallet address. 

About Auth-Service

VeChain, a network created to improve supply management and business processes, has brought another innovation to Web3 applications. Recently, the leading blockchain platform VeChain introduced Auth-Service. With this innovation, users can now personalize their wallets by naming them. Thanks to this innovation, which will contribute to the adoption of Web3, users will no longer have trouble remembering their wallet addresses. 

Platform explained in a blog post how the Auth-Service works; when users interact with network applications, they will be asked to choose a nickname from a trusted source. This profiling will be stored on the blockchain and  used automatically for future logins of the user. 

VeChain

Platform Features

In addition, users can manage their profiles at profile.vechain.energy . Users can change their nicknames after logging in here. This innovation made by platform changes the user identification management with non-personal wallet addresses and contributes to its further adoption. 

According to the statement made by VeChain, the upgrade is not the last change to be made to Auth-Service. Platform stated that it will add more name services with future updates. 

VeChain stated the following in their post;

“This is the second iteration of our Auth-Service, and we have more updates planned for the future. We will be adding more established sources and the ability to manage more profile information, such as profile pictures,” 

Modernization of Supply Chain Management

VeChain blockchain was created to simplify supply chain management through the use of distributed ledger technology (DLT) and help to achieve the main use case. Recently, VeChain Foundation announced that its partnership with Supply@me Capital PLC (SYME) has entered the second phase. The platform will leverage blockchain and related technologies to help businesses extract value from investors. 

Announcements

According to the announcement by Eisenreich, a VeChain influencer, the second phase includes an ‘Inventory Monetisation Platform 3.0.’ It also includes the expected roadmap for Web3 features, including B2B  marketplaces, the release of NFTs, DeFi and the governance protocol. 

The network has also made progress in enabling real-world solutions for fraud prevention and traceability. This has helped luxury goods platforms and companies increase productivity and reduce labour costs.

SOURCE

Written by
Burak DANACI

The author focused on financial markets after graduating from Anadolu University, Department of Economics. After meeting with blockchain technology in 2019, he produces content on youtube and twitter in this field.

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