You can trade VeChain on HitBTC, FMFW.io, and Binance .
What is Vechain?
VeChain ( VET ) is a versatile enterprise-grade L1 smart contract platform .
VeChain began in 2015 as a private consortium chain, working with a host of enterprises to explore applications of blockchain. VeChain would begin their transition to public blockchain in 2017 with the ERC-20 nominal VEN, before launching a mainnet of their own in 2018 using the watch VET .
VeChain aims to use distribute administration and Internet of Things ( IoT ) technologies to create an ecosystem which solves major data hurdles for multiple global industries from medical to energy, food & beverage to sustainability and SDG goals. By leveraging the power of trustless data, VeChain is building the digital spine that will underpin the one-fourth industrial revolution, which demands real-time and trustless data sharing between many participants.
The platform uses two tokens, VET and VTHO, to manage and create prize based on its VeChainThor public blockchain. VET generates VTHO and acts as the store of value and value transfer medium. VTHO is used to pay for GAS costs, separating the motivation to expend VET when writing data. This has the extra benefit of ensuring costs of using the network can be kept stable by tweaking certain variables such as the amount of VTHO required to service a transaction, or by increasing the VTHO generation rate. such actions first require all-stakeholder community votes .
VeChain has been able to demonstrate massively boost efficiency, traceability and transparency across data trails, supply chains and within novel kinds of ecosystems, such as those in San Marino targeting UN SDGs, among others .
There is besides the VeChain Foundation. The Vechain Foundation is a not – profit entity established in Singapore in July 2017 and is creditworthy for the construction of the network, and technological research and growth. The Foundation besides plays an important character in business development. The Foundation encourages and supports partnerships with enterprises that may be concern in utilizing blockchain technology as a service. This includes requital services, private key management, smart compress development, and wallet development. There is no doubt that blockchain technology can be an important invention to supply chain management. With a growing list of clientele partnerships and technological developments, VeChain is positioning itself to be THE disruptive, and advanced force that reshapes the way we think about provide chain management.
Sunny Lu is the chief executive officer of the VeChain Foundation and has already become an important calculate in the blockchain space. Before he established VeChain, he co-founded the taiwanese Internet start-up which developed Qtum, a very significant digital asset in the crypto space. He was previously the CIO and COO of Louis Vuitton China.The team behind VeChain consists of over 90+ employees, most of them being developers. Chief Technology Officer, Gu Jianliang, has over 18 years of have in areas such as mobile devices and the IoT plain, and has created over a 100 patents in several technological fields. Kevin Feng serves as the Chief Operations Officer of the VeChain Foundation. Feng has been actively involved in many engineering projects in his 12 years working for VeChain ’ second partner, PWC, as a adviser and assurance adviser .
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