VeChain (VET) - a digital currency (token) of its own developer platform, which acts as a huge platform for converting ordinary information into digital, based on the blockchain. VeChain started in 2015 as a private network that works with a variety of enterprises to explore blockchain applications.
Contents:
Description of VeChain (VET)
The VeChain platform is made to work with various market groups, including B2B and B2C. Manufacturers have the opportunity to monitor the sources of sales in real time by marking all products with a digital code, which is unique. The consumer can verify the authenticity and quality, and also receives detailed data about the product by scanning the code through a smartphone and a special application.
The platform uses two tokens, VET and VTHO, to manage and create value, based on its VeChainThor public blockchain. The VET generates the VTHO and acts as a store of the value transfer medium. VTHO helps to pay for gas costs, sharing the need to spend VET when recording data. This has the added benefit of providing network cost stability by adjusting certain variables such as the amount of VTHO, required to service a transaction, or by increasing the rate of VTHO generation. Such actions first require the vote of all concerned parties.
Project uniqueness
VeChain exists to disrupt traditional business models and is best known for its work in the supply chain, an industry that has changed little in decades. Its work to provide a decentralized layer for multi-party ecosystems has already led to major successes with high-profile clients and government bodies.
Cryptocurrency has received a number of distinctive features:
| 1 | VeChain Identity – a special system that makes it possible to scan, write and track unique identifiers in the project's blockchain chain. After registration, the manufacturer can label products with a unique number, which looks like a hash record. |
| 2 | The project was the first for which a digital coin was able to offer a contingency remediation option (CDRP). This made it possible to increase the degree of security of the entire network, to increase the reliability of any operations. |
The platform itself should help different companies to work quickly with each other, without deception and intermediaries.
Buying coins
Token holders automatically generate a small amount of passive income in VTHO. VTHO is generated, based on VET holdings, while VET itself has a maximum fixed supply of 86 billion tokens. VET - a freely traded token, available on major exchanges while VTHO markets also exist. Cryptocurrency is available for sale on the main exchanges:
- Binance;
- Huobi Global.
Vechain is trying to actively increase the level of acceptance of cryptocurrencies in real life, as evidenced by the improvement of the coin, the transition to its own blockchain.