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.


Vechain and pharmaceutical company Bayer are entering into a partnership

10 Apr 2023 1 minute read 0 comments Marcello86

VeChain will develop a platform for Bayer, a pharmaceutical company using Toolchain.ToolChain is a blockchain platform that provides services. Examples are lifecycle management, supply chain process control, data deposit, data and process certificati...

what is vechain

10 Apr 2023 1 minute read 0 comments Marcello86

Vechain is a blockchain solution that supports smart contracts and is one of the first cryptocurrency technology companies in the world. The company was founded by CEO Sunny Lu in the year 2015 and launched its Initial Coin Offering (ICO) in August 2...

Doge price skyrockets with Elon Musk

7 Apr 2023 1 minute read 0 comments MattiG

This week DOGE had a rise of 32% reaching a price of 0.102 usd. Despite this, there were exchanges that were equivalent to more than 182 million dollars and one who did not want to be left out of this party was Elon Musk who changed the logo of the a...

What is VeChain (VET)

6 Mar 2023 1 minute read 0 comments Learn With Hatty

Hello everyone! I finished my latest video. This video is going over the blockchain project known as VeChain. Check it out and let me know what you think in the comments. If you would like to find ways to earn Crypto then Check out my earning list b...

Penny Cryptos to Make You Rich: A Cheeky Guide to Investing in 2023

1 Mar 2023 1 minute read 1 comment xbladex

  Greetings, potential crypto investors! Are you tired of watching Bitcoin and Ethereum skyrocket while you sit on the sidelines with your humble savings account? Fear not, for there are plenty of penny cryptos out there that could make you a fortun...

Why didn't Louis Vuitton, Dior, Prada and Cartier partner with any existing blockchain but decide to create their own?

25 Feb 2023 5 minute read 6 comments Kovichni

Anyone remember the panic around logistics/supply chain cryptos in 2019 when Louis Vuitton decided to create their own blockchain instead of partnering with an existing one with already proven crypto teams/developers? That blockchain was eventually c...

VThor: The Smart Investment for Bear Market Survival

6 Jan 2023 2 minute read 0 comments Fabrynar.

VeChain's VThor is a cryptocurrency that many investors are accumulating even in a bear market. VThor is the native token of the VeChain blockchain, which was created to provide businesses with a secure and transparent platform for supply chain manag...

VeChain, VET, and VeChainThor: Let's Get This Straight!

29 Nov 2022 3 minute read 0 comments Michael @ CryptoEQ

    VeChain Two-token Model VeChain adopted a two-token model once it created its own blockchain in 2018: the VET token and the VTHO token. The two-token economic model of the VeChainThor blockchain is designed to detach the cost of transacting on t...

Does VeChain's (VET) Governance Even Enable it to Solve the Globe's Supply Chain Issues?

17 Nov 2022 5 minute read 1 comment Michael @ CryptoEQ

You are reading an excerpt from our free but shortened abridged report! While still packed with incredible research and data, for just $20/month you can upgrade to our FULL library of 50+ reports (including this one) and complete industry-leading ana...

VeChain- VET Crypto Stamp // From Collection: Crypto Stamps | NFT Showroom - Total Edition(s): 6

6 Oct 2022 1 minute read 0 comments aleister

Hi Everyone :)Let me share with you this piece minted on NFT Showroom from this collection i´m building about NFT Crypto Stamps, that´s right :P If you still question yourself about what is this "new" NFT trend all over the net, let me make a quick b...