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.

San Marino’s unique vaccination passport is produced on Vechain Thor’s Blockchain

9 Jul 2021 2 minute read 9 comments Greenchic

   San Marino issuing Digital Covid Vaccination Certificate for it’s Citizens It’s always nice to read news of practical use cases of Blockchain Technology, more than just the DEFI and NFT stuff we investors so much hear about. Here is one such exam...

VeFam, Grow Your VET Bag With 10% Annualized Expected Return On OceanEx

30 Jun 2021 1 minute read 2 comments kukukecu

OceanEx, the trading platform on Vechain's ecosystem, is holding a special event in celebration of VeChain’s 3rd year anniversary. Stake your VET on OceanEx's CryptoFarm for 10 days and earn 10% annualized expected return. You will also be generatin...

Top 5 Internet of Things (IoT) Cryptocurrencies

24 Jun 2021 4 minute read 2 comments Heath Muchena

VeChain (VET) VeChain (VET) launched in 2016 as a blockchain-powered supply chain platform. By using distributed governance and Internet of Things (IoT) technology, VeChain’s objective is to facilitate the creation of an ecosystem that provides solut...

Top 5 Smart Contract Crypto Tokens

8 Jun 2021 3 minute read 0 comments Heath Muchena

Smart contracts refer to a business logic according to which all transactions on a blockchain take place. A smart contract aims to fulfil common contractual conditions. Smart contracts are deployed to the decentralized database for a fee proportional...

Vechain (VET) Breaks Out The Triangle And Ready To Explode

5 Jun 2021 1 minute read 0 comments moon333

Hey friends, hope you are well and welcome to the new update on the Vechain (VET)Breaking out the triangle:On the 3rd of June, the price action of VET broke out the resistance of the symmetrical triangle on the daily time frame chart and now it is re...

The Importance of VeChain

29 May 2021 2 minute read 2 comments Gongo

VeChain is a public blockchain that derives its value from activities created by members within the ecosystem solving real world problems.  The main purpose of the blockchain platform is to improve the management of supply chains and related busines...

The Good, The Bad and The Ugly: Series Introduction

28 May 2021 7 minute read 2 comments Cantarella

It is often said that crypto is the new wild west, and maybe it is because of this and my affinity for spaghetti westerns, courtesy of my grandmother's house family afternoon gatherings watching these movies, that I so enjoy this space. So I thought,...

How To Buy VeChain Coin? What Is VeChain Crypto? Where To Buy VET Crypto? Main Advantages Of The VeChain Cryptocurrency And More

25 May 2021 4 minute read 17 comments StealthEX

Looking for information on how to buy VeChain coin? Then you have come to the right place. This article will also tell you what VeChain is, and where to buy VET crypto, by the way, the best choice is StealthEX. Explore the strengths of this cryptocur...

VeChain verified that 336,5 Tons of plastic waste has been removed from the ocean and rivers

18 May 2021 1 minute read 4 comments Lukros76

The ReSea Project, a business driven by a desire to end plastic pollution in the ocean with it's blockchain based tracking system, recently shared an update on their collection data from January to April as they removed 336,5 Tons (672,938.17 lbs) of...

Orbuculum: VeChain Price Analysis and Mid-term Price Prediction

18 May 2021 3 minute read 3 comments CoinJoy

What is VeChain? VeChain is a platform whose main solution is a data-tracking system with a focus on supply chains. VeChain can track goods throughout supply chains by collecting information from the sensors on its blockchain. VeChain works well for...