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.


OceanEx Monthly Update — June 2019

29 Jun 2019 2 minute read CryptoFallen $0.00 tipped

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VeChain Price Explodes On Potential Walmart Chinese Partnership- Further Adoption Ahead?

26 Jun 2019 2 minute read Blockspectator $0.02 tipped

A recent announcement made by Walmart China saw a bump in VeChain (VET) prices by over 15%. In terms of market cap, VeChain gained over $100 million after the announcement was made. At the time of writing, the price was readjusting; however, the effe...

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TomoChain(TOMO) Will be Listed Soon

22 Jun 2019 1 minute read CryptoFallen $0.08 tipped

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Letter from Xiaoning Nan to VeFam and OceanExer — upon the Celebration of VeChainThor Blockchain Launch One-Year Anniversary

21 Jun 2019 1 minute read CryptoFallen $0.12 tipped

oceanex.pro   Dear VeFam and OceanExer, It has been a fruitful year for all VeFam since VeChainThor Blockchain launched on June 30th, 2018. As a leading AI-powered digital assets exchange within VeChain ecosystem, OceanEx has kept closely tied to and...

New Feature - Binding VeChainThor X Node to OceanEx Account is Available Now

21 Jun 2019 1 minute read CryptoFallen $0.03 tipped

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