VeChain Thor (VET) is a blockchain platform specializing in supply chain management and enterprise solutions. Launched in 2017 after transitioning from Ethereum (where it was known as VEN), VeChain has evolved into a robust ecosystem supporting decentralized applications (dApps) with real-world business integrations.
Core Features of VeChain Thor
Dual-Token System
VeChain Token (VET)
- Serves as the primary currency for value transfer and smart contract execution.
- Utilizes Proof-of-Authority (PoA) consensus for efficiency.
VeChainThor Energy (VTHO)
- Powers transactions on the network.
- Enables stable fee structures by adjusting supply dynamically.
👉 Discover how VeChain's dual-token economy works
Proof-of-Authority (PoA) Consensus
- Authority Masternodes validate transactions, requiring a stake of 25 million VET and KYC verification.
- Balances scalability (high throughput) with centralized oversight for enterprise needs.
VeChain Identity (VID)
- Uses SHA256 hashing to create unique digital IDs for products via QR/NFC/RFID tags.
- Enhances traceability across supply chains for partners like Renault and PwC.
Development Tools
- VeChain ToolChain SDK simplifies dApp creation for businesses.
- Private nodes allow organizations to maintain exclusive ecosystems.
Market Performance and Key Metrics (Latest Data)
| Metric | Value |
|---|---|
| Current Price | $0.0207 |
| 24h Change | -0.09% |
| All-Time High (ATH) | $0.287 (Apr 2021) |
| Circulating Supply | 85.99 Billion VET |
| Market Cap | $1.78 Billion |
| 24h Trading Volume | $18.64 Million |
👉 Track VET price trends in real-time
Where to Buy VeChain Thor (VET)?
Top exchanges for VET trading include:
- Binance
- KuCoin
- Upbit
FAQs
What makes VeChain unique?
VeChain specializes in IoT-integrated supply chain solutions, offering tools like VID and PoA consensus tailored for enterprise scalability.
How does VTHO stabilize transaction fees?
By dynamically adjusting its supply, VTHO decouples fee volatility from VET’s market price.
Is VeChain decentralized?
While PoA relies on approved masternodes, its hybrid model prioritizes enterprise compliance over full decentralization.
What industries use VeChain?
Automotive (Renault), auditing (PwC), and tech (Microsoft) leverage its transparency for logistics and data verification.
Final Thoughts
VeChain’s focus on real-world adoption positions it as a leader in blockchain-based supply chain innovation. Its dual-token system and PoA mechanism address enterprise needs while maintaining measurable market growth.
For the latest VET price updates, visit CryptoRank.
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