Vechain Thor (VET)

330 Articles 23 Followers

VeChain Thor (VET) is a cryptocurrency made by Sunny Lu in 2014. It is a Blockchain-as-a-Service (BaaS) platform focused on delivering Internet of Things (IoT) solutions, particularly in the supply-chain management sector.

Originally started as VeChain (VEN) on the Ethereum network, the project rebranded to VeChain Thor in June 2018 after successfully migrating to its own blockchain. The project intends to provide retailers and consumers with the ability to determine the quality and authenticity of products along the entire supply-chain. The way it works is through a process of Asset Digitization in which manufacturers can assign products with unique individual identifiers. The identifiers use VeChains Identity (VID) technology to mark and track a product along the supply chain. The VIDs are produced using a SHA256 hash function which is then implemented into NFC, RFID chips and QR Codes through their proprietary Smart Chip. 

This process allows consumers and manufacturers to be able to scan the VID at any step along the supply chain and see the authenticity of the product. As the VIDs are created using blockchain technology, this means that the data is immutable and cannot be tampered with, therefore consumers are 100% sure that the information provided about the product is accurate according to the data inputted along the supply-chain. VeChain Thor also supports authorization-based on digital ownership management in which ownership of a physical good can be represented through the use of smart contracts.

VeChain Thor is not completely decentralized; instead, it uses a Proof-of-Authority (PoA) consensus mechanism in which 101 known validators produce blocks and maintain the blockchain.

In this tag you can discover VeChain Thor (VET) news, price prediction, opinion and analysis created by users.


Crypto Insight - 27 APR 2025

27 Apr 2025 4 minute read 0 comments Myxoplixx

Greetings crypto-fam let's dive in. AIOZ Network (AIOZ) is a layer-1 blockchain that works with both Ethereum and Cosmos, built for decentralized content delivery, Web3 storage, and AI computing. On Twitter, people are mostly positive about AIOZ, esp...

How Blockchain Could Revolutionize Global Tariff Management

12 Apr 2025 1 minute read 0 comments Myxoplixx

As the world watches the U.S.-China trade war escalate with tit-for-tat tariff hikes, the global economy is reeling from its ripple effects. From volatile equity markets to a tumbling dollar, the chaos is palpable. But what if blockchain technology...

Crypto Insight - 10 APR 2025

10 Apr 2025 2 minute read 1 comment Myxoplixx

Greetings crypto-fam, today's insight reveals diverse opportunities and risks for investors navigating the volatile crypto market. Qubetics (TICS) is a Layer 1 blockchain focused on interoperability and decentralized finance, with its presale raising...

Crypto Insight - 26 MAR 2025

26 Mar 2025 2 minute read 0 comments Myxoplixx

Greetings crypto-fam let's dive in. VeChain (VET) has shown resilience despite recent market volatility, with its tokenomics overhaul under the "VeChain Renaissance" initiative driving renewed investor interest. Social sentiment around VET is modera...

Crypto Insight - 11 MAR 2025

11 Mar 2025 4 minute read 0 comments Myxoplixx

Greeting crypto-fam, let's dive in.The crypto market continues to evolve, bringing new opportunities and risks for investors seeking to capitalize on emerging projects. Chainlink (LINK), built on Ethereum, has solidified its position as a critical d...

Crypto Insight - 6 MAR 2025

6 Mar 2025 3 minute read 0 comments Myxoplixx

Greetings crypto-fam let's dive in. The sentiment around Qubetics (TICS) is overwhelmingly positive, fueled by its presale success, which raised over $14.4 million, and ambitious projections that suggest the token could reach $15 after its mainnet l...

Top 5 Blockchains for Web3 Game Development in 2025

14 Feb 2025 4 minute read 3 comments NOWNodes

In 2025, the choice of blockchain for a Web3 game becomes even more crucial, as each blockchain offers unique advantages for different types of games. Developers are seeking ways to create unique game projects with transparent economies, unique digit...

Vechain VET Price Crypto Coin Update!!!

16 Sep 2024 1 minute read 0 comments moon333

  Introduction Vechain's price has been attempting to break out of a critical resistance zone between $0.023 to $0.0266. This zone has alternated between support and resistance in the past, making it a key level to watch. Down Channel Formation on t...

Vechain VET Price Crypto Coin Update!!!

26 Aug 2024 2 minute read 0 comments moon333

Introduction: In my earlier articles & videos, I discussed Vechain's formation of a significant down channel on the daily time frame chart. Today, we'll take a closer look at the latest developments as Vechain approaches critical resistance levels an...

Vechain VET Price Crypto Coin Update!!!

25 Aug 2024 1 minute read 0 comments moon333

Introduction Welcome to the latest update on VeChain. In previous videos, we discussed how VeChain has been moving inside a down channel. Today, we’ll analyze the recent movements and key resistance levels to watch for. Recent Price Movements and Key...