VeChain PriceVET

What are VeChain (VET) and VeChainThor (VTHO)?

VeChain owns two different tokens including VTHO(VTHOR) & VET(VeChain).

VET tokens are used to do the financial transaction on the VeChainThor blockchain, and VTHO tokens are called energy tokens and are mainly used to conduct the transaction on VeChainThor. The VET owners can generate VTHO and use it on the VeChainThor blockchain for different purposes.

 

Key Point: 

• VeChain is a blockchain-related enterprise platform that aims to provide a full structure by organization information from the silos. 
• The token of VeChain includes VET and VTHO. Amond it, VET serves as a value layer, and VTHO serves as a contract layer.
• VeChain is a leading platform for ICOs and administering transactions between devices based on IoT (Internet of Things.)

 

VeChain IN brief: 

VeChain is becoming very popular because of many reasons. It is a blockchain platform, and it is designed to enhance supply chain management & business process for streamlining. 

 

VeChain has collaborated with numerous well-known companies to enhance tracking solutions and provide supply chain data that makes crypto more stable, valuable, and attracts more investors. Many cryptocurrencies have evolved, and many have no real-world application yet. VeChain has already revealed their product, and the products have started performing in some big companies, including BMW, Walmart China, and LVMH.

 

BMW: VeChain is used to prevent odometer fraud in the automobile sector. 

Walmart: VeChain is used here to track food provenance.

LVMH: VeChain is used here to track luxury leather goods. 

 

VeChain has started much development on the ENFT (Enterprise Non-Fungible Token) and has done impressive development in partnership with valuable companies, making VeChain more valuable and potential for investors.

 

History of VeChain?

VeChain came into reality from the drawing board in 2015 with the goal to make data transparent. The project creator, Sunny Lu, is very famous for his work. VeChain's VET began on the Ethereum(ETH) blockchain. The market's common strategic approach allows developers to collect funds and showcase their concepts to develop their blockchain. Now, VeChain operates under the Native VeChain ecosystem, and this is the way to provide features organized directly to business clients. 

 

VeChain evaluation:

In 2015, VeChain was founded by Sunny Lu and after some time in June 2016, the VeChain 0.1v launched. After around one year, in May 2017, PWC partnered with VeChain as part of the incubation program. In supper 2017, VeChain foundation launched, and after around six months in Feb 2018, VEB converted to VET. The Mainnet was launched in spring 2018 with the mobile wallet. 

 

Who created VeChain(VET) crypto?

Sunny Lu founded VeChain in 2015, the former chief information officer of Louis Vuitton China and Jay Zhang. He has combined his luxury goods and blockchain technology skills and expertise to develop an IOT application for the supply chain management.

 

Initially, the team of VeChain shared its crypto named VEN on the Ethereum Blockchain in 2017. In this event, they raised $20 million in tokens and sold 1 billion tokens. VET tokens replaced these token letters while the VeChain blockchain launched. You can swap VEN using VET.

 

How does VeChain (VET) work?

The VeChain working is the same as other blockchain platforms. The business use case of VeChain is a fully functional product (BaaS) product called ToolChain to build their blockchain-based solution, and it supports smart contracts.

 

The single transaction on the blockchain of VeChainThor can carry numerous tasks. Moreover, the VeChain application users do not need to hold any cryptos to perform a transaction. So here, you can complete it by the application owner, which makes your user experience more reliable for all users.

The VeChainThor is based on the POA (Proof-Of-Authority) blockchain, and some certain nodes in the VeChainThor blockchain are for transaction confirmation. This is because transactions pass by the master nodes' authority and need to hold at least 25,000,000 VET.

 

Why does VeChain(VET) have value?

VeChain(VET) is the main cryptocurrency powering the VeChain, and you can use it for holding and staking. The application is built on VeChain, and you can use it to pay transactions through it. Like other cryptos, the VET supply is limited, and it is 86.7 billion VET. Additionally, users have the right and reason to hold VET tokens because it gives authority to increase and decrease the VTHOR supply by voting.

 

Why should you use VeCHAIN?

VeChain has strong potential because it can build supply chain management applications and develop anti-counterfeit actions in products. Because of its dual token design, many businesses are looking for VeChain to benefit from stable transactions. Investors should include VeChain in their portfolios to get some future benefits.

 

What is the circulating supply of VeChain?

The global rank of VeChain is #22, and VeChain comes under the top #25 valuable cryptocurrencies with $6.79($ 6,788,159,023) billion market cap. The current circulating supply of VeChain is 65.24(65,241,752,869.00) billion out of the 85.99(85,985,041,177.00) billion total supply. Its max supply is 86.71(86.71) billion VET.

 

How to buy VeChain?

VeChain is available on every exchange, and you can buy it from any exchange, but buying from the top exchange makes our investment secure. You can create an account In just three simple steps including: 

• Signup to exchanges
• Verify your identity and despite funds
• Start buying and trading Ripple.

Once your selected exchange verifies your identity, you can start buying and trading VeChain(VET). We are listing down some top exchanges where you can buy VeChain(VET).

• Binance
• UpBit
• KuCoin
• Huobi Global
• HitBTC
• WazirX
• CoinEx
• HOO
• Gate.io

 

Many exchanges do not allow users to deposit fiat currencies like INR, EURS, USD, and many more. In this case, you can buy other stable cryptocurrency pairs such as USDT/VET, USDC/VET, BTC/VET, ETH/VET equivalent of your fiat currency, and then you can convert it to VET.