Sunny Lu, CEO of VeChain Foundation, thinks VeChain is on the right track and can achieve small but considerable success by having more than one million daily transactions on the platform. He thinks this milestone could be a good step for VeChain on the way to becoming a public blockchain network.
Lu recently had an online interview with Binance.US about the current situation and plans for the future of VeChain. He answered some questions from Twitter users, especially VeChain enthusiasts that were posted with #VeMA hashtag. Most of the questions focused on plans for the VeChain ecosystem.
One of the fans asked Lu about his definition of success for the project. He responded by determining the core values of VeChain, such as serving business values as a public blockchain platform. Lu continued:
Nowadays they are on average hundreds of thousands of pay transactions every day on VeChain Thor from different business users, mostly from enterprise users in multiple different territories like fashion, food safety, sustainability, and lots of different cases. I would have considered a small success in the near future when the number could hit like one million transactions per day.
Reaching one million transactions per day can be a considerable milestone for VeChain Thor, which currently manages one-tenth of that. But Lu believes that goal is not going to be their final achievement. He believes VeChain won’t stop there, and “there is no reason we can’t expect a much bigger scale of use.”
The CEO thinks VeChain can reach a high level of scale that someday everyone will use this platform without even knowing it. He added that the success of VeChain is ultimately linked to the number of successful transactions on VeChain Thor every day.
The success metric that Lu chose for VeChain is somewhat typical between all blockchain and cryptocurrency projects. After all, more transactions per day mean more users are coming to the platform and this can pave the way for mainstream adoption.
Besides, when a platform can manage one million transactions per day, it shows the reliability of infrastructure and technology. The current pandemic has caused many regular and enterprise users to look for digital solutions like blockchains for doing their work. It is an excellent opportunity for blockchains like VeChain to attract these newcomers to their platform.
Earlier this month in another interview, Sunny Lu shared that the enterprise-friendly approach of VeChain could allow the network to overtake Ethereum.
