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 2017. Vechain started on the Ethereum platform and launched its own in June 2018
Blockchain. The core development team with more than 150 employees around the world is strong and solid and has backgrounds in the IT and (information) security of luxury stores (brands).

Vechain initially focused on the '' luxury goods '' industry with blochain implementation, but has also proven itself successfully in other sectors. Examples are the car, wine and agriculture sector.
Companies that have entered into a partnership or intensive cooperation include Renault, Oceanex, University of Oxford, PriceWaterHouse Coopers, BMW and Kuehne & Nagel. VeChain's blochain is ideally designed for companies to easily track their products.
VeChain's blockchain allows brands to track their sales in real time by putting Radio Frequency IDentification (RFID) on their own products.
For consumers who buy the products, it is possible, for example, to view the separation of a product via a QR code. Main purpose of this is
to solve the problems of counterfeit goods in the market worldwide.

An example where this technique is already used is in Australia at a winemaker (Penfolds). The company makes wine bottles that are registered on vechain's blockchain.

Vechain has two types of tokens, namely:
- VET (used by the companies as payment to carry out business activities on the vechain blockchain)
- VTHO (for smart contracts and applications to run on the blockchain)

Vechain uses '' Proof of stake ''. As a holder of VET you will receive VTHO and this is an average of 0.000432 VTHO per day without doing anything.

More interest in this project see https://www.vechain.org/