VeChain Tokens is the latest addition to the VeChainWorld.io tool hub. Advertised as a token transfer and inspection tool, it has plans to incorporate some of VeChain’s most powerful features. VeChain Tokens can be visited inside the Sync browser, allowing the user to control their wallets and manage the various VIP-180 tokens, including OCE, SHA, EHrT and others. It was also one of the first dApps built with Connex, the set of API’s designed by VeChain for browsers to interact to the blockchain with.
To use VeChain Tokens, visit https://vechaintokens.abyteahead.com/ or directly on the Github from within the Sync browser.
VeChain Tokens stands out for its ability to process hundreds of clauses within one transaction – allowing users to instantly create payments to unique recipients all around the world. Currently, the largest payment sent close to 400 recipients in one transaction, used by a project’s HR department to distribute funds. Users can access this feature by saving multiple addresses into a .csv file, and then upload it directly into the web-based tool.
As a monitoring tool, VeChain Tokens allows users to save addresses in the interface, so that they can quickly track balances, including accounts that don’t belong to them. This comes in handy when monitoring well known accounts such as foundation accounts or addresses used for donations.
Still, the most important features are yet to be released. With the imminent mainnet update scheduled for late July, VeChain Tokens can roll out a host of new features.
Upcoming Features
Users sending mass transactions using a .csv file will be able to create a graph of the completed transaction. This data tree can be a valuable accounting tool, as it provides a record of the token flow for these complex multi-recipient transactions.
Using VIP-191, users can send tokens without using VTHO. Instead, VeChain Tokens can pay the transaction fee, while subtracting a small compensation fee from the original token balance. This removes some of the complication of the two-token economic model, allowing users to transfer tokens without having to buy VTHO on an exchange. Learn more about VIP-191 here.
There are a lot of possibilities stemming from the release of the new mainnet update. One example of the ETH-CONST optimization is the possibility of generating known-address new contracts on chain controlled by a single master contract, this opens the availability of many new tools, for example, building multi-address wallets for a single user on-chain. VeChain Tokens will explore the possibilities of using this, which could give users the ability to generate child accounts from their main wallets. These child accounts will be fully controllable by the root account, giving users more privacy when receiving tokens. Other developers will be able to leverage this feature and create more meaningful applications.
Community Development
VeChain Tokens is another tool to come from the community. The developer, who goes by the name of AByteAhead on vechainworld.io, has years of experience developing on blockchain projects, bringing a deeper understanding of the challenges blockchain users face when trying to adopt new solutions.
Users should download and install Sync to take advantage of these great blockchain tools. In the future, VeChain will release another tool, known as My-Tokens, a user-friendly way to send and receive VIP-180 tokens. Developers wishing to have their tokens listed there are welcomed to submit them using the token registry GitHub.
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