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.

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1 week ago 3 minute read Chenhuang_defi $6.19 tipped

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3 weeks ago 3 minute read paulOf91 $3.59 tipped

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9 Jul 2019 2 minute read Ravir3z $3.57 tipped

Almost every trader I know would highly recommend XRP as an investment now. But the thing is, most people are already investing in Ripple or already have a lot of XRP tokens. Let’s look at two more tokens that are popular but different from XR{, and...

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1 week ago 2 minute read paulOf91 $3.33 tipped

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25 Apr 2019 3 minute read bunnychum $1.75 tipped

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 Showing You My 2 Coins I Just Purchased #showmyportfolio

7 Jul 2019 2 minute read kevW!ls0n $1.14 tipped

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6 Jun 2019 2 minute read daniejjimenez $1.03 tipped

The crypto market has returned to signs of recovery as the end of the first week of June 2019 approaches. The fierce attack of the bears at the beginning of the month does not seem to have enough fuel to persuade an ecosystem that remains reluctant t...

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3 weeks ago 3 minute read Rubika Ventures $0.95 tipped

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18 Dec 2018 4 minute read Ayobami99 $0.56 tipped

Wow! Safe Haven Nailed It I couldn’t believe my eyes that a project which I wrote an article for barely nine months ago when it was launch is making waves today. I know it must have been some nine long months for a startup witnessing the 2018 bearish...

VeChain: Why I believe it will succeed!

30 Jun 2019 2 minute read CryptoFallen $0.21 tipped

Like many that first got interested in learning more about the blockchain/cryptocurrency would have none other than big daddy “BITCOIN” to thank, he is and will hopefully most likely always remain. But like all great things in life, when one great tr...