What is VeChain?
VeChain is a cryptocurrency and software that works as part of the VeChainThor blockchain, supporting two unique cryptocurrencies and smart contracts. VeChain is particularly useful for logistics and tracking, potentially leading to interest among the shipping, retail, manufacturing, warehouse, grocery, and other industries. VeChain is a pioneering blockchain ecosystem and creator of VeChainThor, a world-class smart contract platform driving real-world blockchain adoption.
VeChain goals
VeChain aims to lower barriers to entry and allow established businesses to digitize their operations, creating value and solving real-world economic problems using VeChain’s comprehensive array of smart contract-powered off-the-shelf solutions. VeChain is designed to help businesses boost efficiency in their supply chain and leverage the unique properties of the VeChainThor blockchain to build and use applications that otherwise benefit their business operations. VeChain has established strategic partnerships and business relations with a huge number of prominent firms — many of which are using its technology to improve their business efficiency.
VeChain fondamentals
VeChain uses a dual-token system consisting of VeChain Token (VET) and VeChainThor Energy (VTHO) to facilitate transactions, smart contracts, and stakeholder voting. The number of tokens VeChain is 85985041177 VET. The market cap of VeChain is $3667008056.
Marketcap
$3.667B
Total number of VeChain
85985041177 VET
VeChain technology
VeChain works as part of the VeChainThor blockchain, using a proof of authority (PoA) algorithm that delivers comparatively fast transactions through a consensus mechanism based on identity as a stake. VeChain's network is designed to be efficient and easy to use, with VET serving as a type of 'smart money' for smart contract transactions on the platform.
VeChain competitors
VeChain is a pioneer of real-world enterprise applications, and built a distributed platform powered by Internet of Things (IoT) technologies, NFC chips and blockchain to help various industries solve data-related challenges. VeChain is designed to provide a holistic solution to businesses looking to improve their efficiency and develop new ways to do business and manage their operations.
VeChain price history
Frequently asked questions
VeChainThor is a world-class smart contract platform driving real-world blockchain adoption.
VeChain uses a dual-token system consisting of VeChain Token (VET) and VeChainThor Energy (VTHO) to facilitate transactions, smart contracts, and stakeholder voting.
VeChain uses a proof of authority (PoA) algorithm that delivers comparatively fast transactions through a consensus mechanism based on identity as a stake.
VeChain is particularly useful for logistics and tracking, potentially leading to interest among the shipping, retail, manufacturing, warehouse, grocery, and other industries.
VeChain was co-founded in 2015 by Sunny Lu, former chief information officer of Louis Vuitton China, and Jay Zhang.
VeChainThor is a blockchain that supports two unique cryptocurrencies and smart contracts.
VeChain has established strategic partnerships and business relations with a huge number of prominent firms — many of which are using its technology to improve their business efficiency.
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