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.


19 hours ago 1 minute read kripto sedat $0.20 tipped

  ANOTHER PROMISING BLOKCHAIN PROJECT HAS BEEN HACKED.WHO SHOULD WE TRUST NOW? There is no attack on cryptocurrencies or exchanges.Yes, we were more surprised by the news, and we immediately shared it with you.Close time (VET)The VeChain Foundation...

VeChain Foundation Hacked and $6.7 Million Stolen.

22 hours ago 1 minute read alberdioni8406 $0.11 tipped

One more Crime caused by Hackers in the crypto sphere and this time the Target was The Non Profit Organization VeChain Foundation ,where the Criminals found a breach in the Buyback address and stole 1.1 Million in Tokens worth $6.7 Millions. The Fou...


1 week ago 1 minute read CryptoBitcoinChris $0.09 tipped

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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...

99% Of Cryptos Will Go to Zero!!!

2 weeks ago 1 minute read andreaskanel $0.53 tipped

  Nowadays, more and more statements from the world of crypto insist that only the 1% from the whole coin have real use case. First it was  Brad Garlinghouse (Ripple CEO) in an interview on Bloomberg said that in the future will survive only the 1% o...

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...

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