Vechain Thor (VET)

292 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.


VeChain: Green Cryptocurrencies for the environment

10 Aug 2022 2 minute read 2 comments crypto_albert

Climate change is one of the most important challenges facing humanity. Melting of glaciers, rising global temperatures, floods and drought. Every day we read news of natural disasters and we need to find quick and effective solutions. Climate change...

VeChain payments with Point-of-sale

28 Jul 2022 3 minute read 0 comments NOWPayments

VeChain is designed to solve real-life economic problems. VeChain builds a decentralized ecosystem which is getting larger every day, and its native coin plays the main role in it. VET is considered by many as one of the most efficient cryptocurrenci...

5 Internet of Things Cryptos: HNT, VET, IOTA, DGB, IOST

19 Jul 2022 7 minute read 3 comments Swapzone

Distributed Ledger Technology (DLT) or blockchain holds immense potential that can help tackle some of the issues facing the Internet of Things (IoT) such as scalability and security. Many see blockchain as a digital information game changer for IoT...

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...

Benefits of accepting VeChain on Magento 2

5 Jul 2022 3 minute read 0 comments NOWPayments

VeChain is a blockchain intended for solving real-world economic problems. The project derives its value from activities created by members of the ecosystem. Every blockchain that aspires to become a major part of the future financial system like VeC...

Possible Trade Setup - Day Chart - VeChain (VET)

2 Jul 2022 1 minute read 1 comment Blue Face

Hey Folks. I got my eye on a possible trade setup for Vechain (VET) on the Day Chart.  On the Day Chart below I have listed my current current Plan of Action, with a possible Long Entry on or near the Trendline (Support). I would like to see Price Ac...

The UFC Shows what the Future Crypto/Blockchain Sports League Partnerships Could Look Like

16 Jun 2022 2 minute read 0 comments Cje95

The UFC or Ultimate Fighter Championship is a mixed martial arts league that is the leader for their respective sport. During the height of the pandemic, they made huge inroads with the average person in the United States and abroad because of their...

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...

VeChainThor Ascending the Throne

18 May 2022 1 minute read 2 comments Gideon6ix

VeChainThor Ascending the Throne Why VeChainThor is Good for Business by: Gideon 6ix What if there were a way to use blockchain technology to solve real-world economic problems? VeChainThor (VET) is doing just that, with a platform already used by ma...

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...