Vechain Thor (VET)

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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.

3 Crypto Under 10¢ You Can Buy Today With Huge Gain Potential

9 Aug 2019 3 minute read Chenhuang_defi $6.41 tipped

Altcoins are where the gains are at. Bitcoin is a good long-term HODL, but seasoned investors know that the best gains are made from investing in the right altcoins. Just take a look at Binance Coin (BNB), which has soared in 2019 despite many negati...

VeChain (VET) Price Prediction 2020 - $0.02 Possible?

1 week ago 7 minute read CryptoChartWizard91 $6.01 tipped

VeChain has seen a pretty decent year of trading in 2019, relative to the rest of the altcoin market, as it has increased by a total of 65% from the 2019 opening price! The cryptocurrency had started the year off on a strong bullish run as it surged...

What is VeChain (VET)? [A Comprehensive Guide to Understanding VeChain]

8 Oct 2019 7 minute read Mr.CryptoWiki $4.64 tipped

The cryptocurrency market has evolved tremendously since Bitcoin was launched in 2009. In the early days of Bitcoin and crypto, cryptocurrencies were a medium of exchange – they were literally digital currencies. The first cryptos were created with t...

What Is Waltonchain? - [A Comprehensive Guide to Understanding Waltonchain]

17 Oct 2019 6 minute read Mr.CryptoWiki $4.59 tipped

Supply chain management and the blockchain industry are like a match made in heaven. Even those who are skeptical about the future of blockchain typically still believe that the supply chain industry can be tremendously improved with the use of bloc...

4 Cryptocurrency Projects With Really Big Partnerships

24 Jul 2019 3 minute read paulOf91 $3.58 tipped

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9 Jul 2019 2 minute read Ravir3z $3.54 tipped

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VeChain Is One Of The Few Projects That Will Come Out as a Winner From Crypto Bubble

13 Aug 2019 2 minute read paulOf91 $3.31 tipped

VeChain really is one of the projects that will surprise many investors within the cryptocurrency community. It is one of the select few projects that have a working use case with some serious real clients on board, however, the problem is not too ma...

The Idea Of What Constitutes An S**coin Will Dramatically Change In The Near Future

24 Sep 2019 14 minute read Cryptolohy $2.82 tipped

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It Is Just a Matter of Time Before These 3 Cryptos Explode In Price And Adoption

17 Jul 2019 3 minute read paulOf91 $1.55 tipped

So if you take a look at the market now, you’ll see that it’s dropped below the psychologically important mark of $10,000. With any luck, it’ll pop back up to its 2017 highs later this year, and the general expert opinion on this is that it will.  An...

VeChain - Battle Against Fake Products | RFID on Blockchain | Technical Analysis

25 Apr 2019 3 minute read bunnychum $1.38 tipped

There are a lot of problems out there in the real world that can be solved with blockchain technology. One of the reasons crypto market is emerging day by day. We have seen that are promising a lot in their ICOs and even projects getting almost dead....