Whenever a cryptocurrency project moves backward, there is some genuine reason for concern. At the same time, it creates an opportunity for new players to emerge and take the ecosystem to a new level. For VeChain, it appears the VeForge block explorer and Ledger Wallet interface is shutting down. The team claims there is a lack of support from the VeChain Foundation.
VeForce is Shutting Down
In the cryptocurrency world, a block explorer is as crucial as anything else. It provides all users and onlookers with a clear and detailed overview of network transactions, block rewards, and so forth. Albeit every project has many of these services available after a while, losing one of them is never a fun turn of events. For VeChain users, the Veforge block explorer will meet its demise as of tomorrow. All services will be shut down, including the Ledger wallet interface.
It is difficult to determine how popular this service has been for the VeChain community to date. It is one of the projects which seemed to enjoy the support from the project’s Foundation, albeit that situation has come to change in recent times. Although this service will come to an end, there are a fair few alternatives on the market today. It seems one will be added by the VeChain developers as well, which should take care of this disappearance in the weeks and months to come.
The “Official” Block Explorer
In a recent Medium post, the VeChain Foundation announced it would build its own new official block explorer in the weeks to come. Their goal is to make this network as accessible as possible. The VeChain Foundation also positions itself as an enabler in the ecosystem. As such, the in-house development of this new block explorer makes a lot of sense, especially given the VeForge situation.
In the blog post, the Foundation claims it has provided ample financial support to the VeForge team, as well as shedding a spotlight on all of those services. In the same breath, it becomes apparent two new solutions will be added to the VeChain ecosystem in the coming months. The block explorer is one venture, whereas the other is the VeChain Sync Official Ledger Wallet Interface. The block explorer will go live in late November, whereas the LWI will become available in the next two weeks.
The Ecosystem Continues to Grow
The loss of one partner allows other parties to take its place and provide a similar – or perhaps better – service. For the VeChain community, there will be a temporary impact regarding the Ledger Wallet interface, but that will be replaced soon enough. As such, the shutting down of VeForge will not have any major impact on the network or the value of VET.