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 Driving the VeChain (VET) Price Rally?

1 Apr 2022 1 minute read 0 comments DailyCoin

Visit DailyCoin for more articles VeChain (VET) soared by another 25 percent on Wednesday, embracing a highest price of $0.08657 and a market capitalization of nearly $55 billion. The current accession comes as the second steep climb by VeChain t...

Keeping tabs on the Supply Chain with VeChain

15 Feb 2022 5 minute read 2 comments I-HODL

So guys, I've got a story for you. It was Valentine's Day yesterday and, for a treat, I decided to dine out. So I went to this restaurant- my favorite- enjoyed my favorite meal, and asked for the tab. The waitress was very polite, brought the bill an...

11 FEB 2022 (FRI)- VeChain (VET) Report Card

11 Feb 2022 8 minute read 4 comments quantdoge

Investment Disclaimer: I am not a registered investment, legal, or tax adviser or a broker/dealer, and all opinions expressed by me are from my research for educational purposes only. Past performance presented here is not an indicator of future per...

【VET / Vechain】

6 Feb 2022 1 minute read 0 comments グルスキー (gursky)

The company provides blockchain x IoT solutions that enable tracking and management of products. By combining VeChain's blockchain technology with IC chips, it is possible to track and manage data from manufacturing to transportation, quality control...

Mature in this new digital world using #BitYard and the best 2022 outcome

29 Jan 2022 4 minute read 1 comment vest1992

Welcome to BitYard office     I am still a young kid in the world of crypto but with time I will be able to mature in this new digital world that is opening to us, nevertheless I will focus on growing bit by bit with consistency and have a laser fo...

A TALE OF TWO METAVERSES

26 Jan 2022 10 minute read 13 comments SirGerardThe1st

Image by Prawny from Pixabay   MyCryptoOutlook2022   In these very turbulent times in the cryptosphere, when I am asked how I see 2022, I am automatically presented with the famous novel by Charles Dickens “A tale of two cities”, published in 1859. I...

VeChain - supply chain solutions

21 Jan 2022 1 minute read 0 comments Justin Spencer

Launched in 2015, VeChain is a blockchain solution designed to bring accountability, efficiency and transparency to operations. Originally a fork of the Ethereum code, VeChain is focused on business use cases with an emphasis on the 'Internet of Thin...

What is VeChain (VET) coin?

12 Jan 2022 4 minute read 0 comments Stormgain

The cryptocurrency market is growing at a tremendously fast rate. New coins and tokens are launched almost daily, increasing the public interest in discovering new industry players. Currently, Asia is considered one of the primary hubs in the blockch...

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...

Vechain the world's leading blockchain application platform driven by enterprise adoption

7 Jan 2022 1 minute read 0 comments Rafa3003

How can we implement in business cryptocurrencies or even a blockchain sometimes is quite hard to think how maybe we think as a payment method but these are the base things everyone thinks vechain takes this to the next level vechain is not just VET...