VeChainThor Ascending the Throne
Why VeChainThor is Good for Business
by: Gideon 6ix
What if there were a way to use blockchain technology to solve real-world economic problems? VeChainThor (VET) is doing just that, with a platform already used by major corporations like BMW and PwC. Here’s how VeChainThor could be the solution you’re looking for.
VeChainThor is a blockchain platform created in 2015. The goal is to provide a secure and efficient way to track the origins and movements of products. VeChainThor uses “Proof of Origin” to help companies track products throughout their supply chain. This process involves assigning a unique ID to each product and then storing this ID on the blockchain. As the product moves through the supply chain, each link in the chain can add data to the product’s ID.
This data can include information about where the product was made, who handled it, and when it was shipped. VeChainThor’s blockchain is open-source, meaning that anyone can access and add to it. The platform uses a native token called VeChainThor (VET). VET tokens are used to pay for transaction fees on the VeChain blockchain. The tokens can also be used to create “smart contracts.” For example, a smart contract could automatically issue refunds for defective products.
In 2018, VeChain announced that it would be rebranding to VeChainThor. The name emphasizes the company’s focus on blockchain technology. Since Thor is a powerful God in mythology, it seems to be a good fit. The rebranding also coincided with the launch of their mainnet, which allows businesses to create decentralized apps (dApps).
Since then, VeChainThor has been working on new features, such as a cross-chain solution and a decentralized exchange. With its strong team and partnerships, VeChainThor is well-positioned to become a leading blockchain platform.
The future of VeChainThor is looking bright. The VET platform has been growing steadily and has a strong community behind it. It currently boasts more than 584k followers on its official Twitter @vechainofficial. Coingecko currently shows VET trading at $.031 on $218M+ 24hr Volume. Although VET is down about 81% from ATH, it still has a 480%ROI…not too shabby.
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