It looks like VeChain will meet its goal of launching its own blockchain by the end of the month.
The company’s CEO Sunny Lu says the platform’s bug bounty program discovered zero critical bugs. He says he will personally double the bounty to encourage more hackers to try to break the code.
That means anyone who discovers a critical bug can now earn $20,000.
Vechain is planning to leave the Ethereum network, release its mainnet software and begin booting up its own blockchain on June 30th.
Once the blockchain is up and running, the VeChain coin will no longer be an ERC20 token, and its symbol will change from VEN to VET.
You should check with your exchange to make sure your coins will migrate over to VeChain’s new network. Well-known exchanges are expected to handle the token swap automatically.
You can check out more details on VeChain’s mainnet launch and how the token swap will work here.