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 (VET) Supply Chain Coin Overview

29 Mar 2021 4 minute read 5 comments MintDice.com

As Bitcoin continues its growth vector towards the moon, another formerly unknown altcoin has recently snagged a top 20 cryptocurrency spot on the website known as CoinMarketCap. This coin is called VeChain, and although it may be relatively unknown,...

NEXT BIG CRYPTO | April 2021 | VeChain (VET) | The Future of Logistics

26 Mar 2021 1 minute read 1 comment Pk24

  VECHAIN: The Future of Logistics is based on this wonderful crypto project which aims to solve specific solutions related to supply chain management. VET is a well-organised sustainable crypto token which is the favourite of Crypto hodlers, expert...

03 Cryptocurrencies that will explode soon

23 Mar 2021 2 minute read 0 comments Medal182

Some market analysts are watching a signal of 03 cryptocurrencies that will reach their maximum! According to them, these currencies are showing signs that they will reach their next historic mark. These are: "VeChain (VET), Filecoin (FIL) and Cardan...

10x to 100x potential tokens as the bull market heats up. $ANC $VTHO $KYL $OCEAN $THETA $BMI

21 Mar 2021 1 minute read 2 comments Aware1

A quick look at some of the coins that have caught my eye in recent months and hold long-term potential. Some of the coins covered include the blockchain-based video streaming platform Theta (THETA), the data-focused Ocean protocol (OCEAN) and its P...

Morning‌‌ ‌‌Update—March 16th—Macro and Crypto Markets

16 Mar 2021 1 minute read 1 comment Justin d'Anethan

We’re not done going up. Typically, you’d expect some pause or even a quick pullback, but risk assets haven’t stopped going up since the relief package advance and the last Fed’s speech. The S&P is at an all-time high, at 3,970. The Dow is at an all-...

Is VeChain the most undervalued coin?

13 Mar 2021 1 minute read 3 comments cryptoworldd

  Since there are over hundreds of crypto coins in the world right now, it's nearly impossible to keep up with all of them. Most coins claim to offer new unique features, and it's getting harder and harder to keep up with the crypto world. This leads...

Popular Vape Brand “Puff Bar” to use VeChain in order to verify authenticity

12 Mar 2021 1 minute read 2 comments Ngulapa

In a January report, vape brand Puff Bar claimed that 95% of all products were counterfeit. The health implications of a fake nicotine vape are tremendous in the sense that unknown substances are added which can cause or exacerbate lung disease. Puff...

VeChain Price Prediction 2021

12 Mar 2021 3 minute read 2 comments StealthEX

If you are looking for information on VeChain price prediction, then you have come to the right place. In this article, we will show you what is VeChain coin, how to buy VeChain, VET coin news, and where to buy VeChain coin. So, let’s learn more abou...

VeChain (VET) Hits All-Time Highs BUT Does That Mean YOU Should Hold it?!

10 Mar 2021 8 minute read 0 comments Michael @ CryptoEQ

Overview VeChain is its own blockchain designed to improve enterprise supply chains. It originally was built atop the Ethereum blockchain in 2015 to bring transparency and authenticity to luxury goods provenance to reduce fraud and combat counterfei...

What is VeChain (VET)?

2 Mar 2021 1 minute read 2 comments nervi

VeChain is a company founded in 2015. It provides comprehensive blockchain-based solutions for businesses and uses its VeChainThor blockchain to do so. The company has strong ties to Chinese industry. VeChain provides manufacturers, distributors and...