Hello again in my Crypto Income series.
This time I will take a closer look at a crypto platform again. This is a project I almost forgot about, because at some point I haven’t gotten much more information about it, so I thought that this will be another coin who is going to die.
Take a look at their brilliant intro video to get a feeling what Vechain will do in the future.
For a more detailed video about Vechain watch this.
After taking a closer look at coinmarketcap.com, I noticed that VeChain (VEN) had been removed from the website, which generally is a bad sign if you want to invest in healthy long term projects. So I went ahead and did a bit of research, as to what happened to VeChain, and to see if I can get some of my money back.
To my surprise VeChain is more alive than ever! VeChain had a rebranding some time ago, changing their token ecosystem from VEN to VET and VTHO.
This is the actual chart of Vechain.
I immediately downloaded their new wallet VeChainThor, to see how much money I had left. Then I realized something, 2 years ago I bought VET tokens, but this wallet only supported VEN and VTHO tokens. I almost lost all hope to retrieve my investments, but then I found this video, showing me exactly how I can exchange my old VET tokens into the new VEN tokens.
Here is a Screenshot of my mobile wallet at the moment, I exchanged 100 VEN tokens for 10.000 VET tokens, after a few days I noticed that VTHO tokens have been building up in my wallet. That’s when I realized that Vechain had its own new Proof of Authority protocol!
Authority Masternode Operators, with the aligned interest in the development of VeChain ecosystem, maintain the VeChainThor protocol according to the Foundation’s governance policy. PoA addresses enterprise’ common concerns of inefficient upgrade and waste of energy.
Here is a quick overview of how VeChain’s ecosystem works.
For more information about Vechain, or to download their wallet.
I will definitely keep holding this coin and see where it takes us!