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.


06 JAN 2022 (THU)- VeChain (VET) Report Card

6 Jan 2022 6 minute read 2 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...

13 DEC 2021 (MON)- VeChain (VET) Report Card

13 Dec 2021 7 minute read 2 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...

5 and Below

30 Nov 2021 8 minute read 2 comments Zoharks

Cryptocurrency, or what I like to call Crypto-assets, had the 8th largest economy in 2021. The boom of centralized exchanges made it easier to be a part of the future. As a result, stores of value are slowly becoming what people think especially con...

VeChain analysis 4 hour chart | 25 November 2021

25 Nov 2021 1 minute read 0 comments Maretti0x

Hello everyone, Today I took a look at VeChain and it is looking neutral at this moment we started retracing back to the lower support zone and broke out uptrend line. At this moment VeChain is starting to rebound back to the upside. we could retest...

VeChain Upgraded to the Proof of Authority

17 Nov 2021 1 minute read 0 comments Novasky

Vechain the popular supply management blockchain used to be Proof of Work based chain. And recently they made change to the Proof of Authority. The developers and the foundation both made the announcement on twitter about the same.    What's the di...

VeChain, Perfect Storm Brewing In Supply Chain

10 Nov 2021 3 minute read 1 comment Tokenicer

The global supply chain sector is in a bit of a crisis as a result of the pandemic, shortages of supplies to consumers and shortages of workers around the world.   The Problem Empty shelves, panic buying all the inventory left. Both common sighting...

November Rain 🌧️

30 Oct 2021 1 minute read 2 comments Gaia ❤

So if you want to love methen darlin' don't refrainOr I'll just end up walkin'In the cold November rain Guns n' Roses   October turned out to be a decidedly positive month for cryptocurrencies, although I do not hide the fact that I have some at a...

27 OCT 2021 (WED)- VeChain (VET) Daily Risk Report

27 Oct 2021 5 minute read 0 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...

Vechain in focus, revolutionizing supply chains

18 Oct 2021 2 minute read 2 comments Austras

Background Vechain's original idea began back in 2007 under a subsidiary named BitsSe in China. Sunny Lu was the main inventor of the blockchain and built it to allow a full view of the supply chain of any company that uses it. However, the project w...

BITCOIN TECHNICAL ANALYSIS AND INTRADAY LEVELS 8 OCTOBER, AND A LOOK AT VECHAIN.

8 Oct 2021 1 minute read 1 comment trade60

The day before yesterday, a great day Long! Yesterday the prices fell, as is normal in any bullish trend.Advice for those who made an entry below 50,000 to close the position if the prices fall below 51,400. A daily close above 55750 would develop a...