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.


What's Next for VeChain

20 Sep 2021 4 minute read 5 comments I-HODL

On the face of it, VeChain is an excellent project with strong fundamentals and great institutional partnerships. It seems to have an excellent future. It has a low entry price point and with a comparatively low market cap, there is room for it to gr...

Supply Chains Are All Over the News, So Is This VeChain's (VET) Time?! Why and Why Not...

25 Aug 2021 9 minute read 2 comments Michael @ CryptoEQ

  VeChain is its own blockchain designed to improve enterprise supply chains. It originally was built atop the Ethereum blockchain in 2015 to bring transparency and authenticity to luxury goods provenance to reduce fraud and combat counterfeit produ...

WHY I BET ON VET

6 Jun 2022 15 minute read 23 comments SirGerardThe1st

Haters hate, entrepreneurs build, and professionals help. This was written in an excellent post by my friend Mike Zillo on Linkedin. I add, "the lack of knowledge is the only cause of the delay in the adoption of modern technologies." In his post, Mi...

Real-World Player: VeChain Project Overview

12 May 2022 4 minute read 0 comments Swapzone

VeChain is a fast-growing project that will power many businesses, software, institutions, and blockchain communities through the VeChainThor blockchain and Foundation. The project has been around since 2015 and has overseen the launch of several pro...

The Latest VeThor Token VTHO Price Prediction 2025-2030

23 Sep 2021 3 minute read 1 comment StealthEX

Wondering what is VeThor Token cryptocurrency is? Looking for VTHO price prediction for upcoming years? Congrats! You’ve found the right place! In the new StealthEX article, you will discover everything you need to know about VeThor Token. Moreover,...

How Crypto Saved My Life (COVID lockdowns era)

31 Aug 2021 2 minute read 7 comments MRDOWJONES

Crypto For The Homeless We are a group of crypto enthusiasts who hand deliver food to the homeless. Most homeless people never utilize any form of charity, we exist to serve these humans. Our goal is to have volunteers all around the world.   We all...

VeChain

31 Aug 2021 4 minute read 3 comments CryptoWingnut

For today’s article, I am taking a look at VeChain, a different kind of project as it’s blockchain is used to store data, as opposed to just being a ledger for transactions like most of the other projects out there. It has pretty good utility for man...

What Is VeChain VeThor VTHO Crypto Token?

13 Sep 2021 3 minute read 2 comments StealthEX

VeChain is a cryptocurrency project that was created to simplify the introduction of blockchain into the economy. This platform has two internal coins: VeChain VET coin and VeThor Token VTHO. Keep reading to learn about VTHO crypto. What Is VeChain U...

Sarcasm Saturday #4 - The Positivity Monster and the Bear Market

30 Jul 2022 6 minute read 13 comments PVMihalache

It takes a lot to take me down, not because I am some kind of superhero, but because I built up a monster mentality where I will keep fighting until I reach my goals. It took years to become a positivity monster, and even that is not enough as I do h...

Blockchain Chat Podcast - S01:E10 - VeChain for Dummies featuring SirGerardThe1st

7 Jan 2022 2 minute read 29 comments CryptoWordsmith

I started the Blockchain Chat Podcast in 2021 as a way to connect with people, and to learn about crypto projects that they are passionate about. My guests and my co-hosts come from all walks of life. After a challenging past year, I have decided to...