What is VeChain (VET)?

VeChain is a supply chain solution on the blockchain. This means that through the VeChain protocol supply chains can be tracked and goods can be verified. The verification takes place through the Proof-of-Authority method, in which validators of the blockchain are selected by a central VeChain Foundation. Since the product is mostly used by large companies such as Walmart, BMW or PWC, the centrality does not play important for the users of the blockchain. In the VeChain network, the VET token can be used for transactions and the VeThor token is used to pay transaction costs.
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VET
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Cryptohunt's Opinion

Our take on VeChain

Supply chains are difficult to trace and goods (e.g. luxury bags) are often counterfeited. VeChain brings IOT data onto the blockchain and thus offers a solution to these problems. The blockchain is relatively centralized because the VeChain Foundation determines the validators. However, since the blockchain is primarily focused on businesses, decentralization is not as important to them. Through this compromise, VeChain manages to enable a fast blockchain with low transaction costs.
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What makes VeChain special?
VeChain is a on its own, uses to validate transactions, and is. VeChain also supports.

Interesting facts about VeChain

Here are some facts you may not already know about VeChain. Something surprise you? Go ahead, share it!Any fact missing? Contact us.
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The centrally determined VeChain Foundation members decide on the VeChain governance and thereby also on the selection of the validators.

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Transactions are validated by using Proof-of-Authority, with validators determined by the VeChain Foundation.

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VeChain is a supply chain solution that enables the tracking and authentication of goods.

VeChain reviews from the cryptohunt community

Dive deeper into the different opinions about VeChain and learn how others feels about it.
VeChain
Positive review
Review author avatar
glabunsky
5 mo. ago

VeChain is much more than a "supply chain solution on blockchain." VeChain is a full-fledged Layer 1 solution with countless possibilities of dApps and use cases. VeChain has patented IoT solutions and several high-profile working relationships with firms like DNV, PwC, BYD, and more.

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VeChain price and insights

See how much VeChain is worth and learn from other insightful metrics
No value
-0% past 1 week
24H30D
Community Reviews
Based on 1 community reviews
Market insights
Market capitalization
Very small
24 hour trading volume
Very small
Market cap % of total
Very small
Project health
# Discord members
-
# Telegram members
28,970
3% of them are active
% of total supply circulating
Very small

What’s the community like?

Community matters for projects like VeChain, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.
# Discord members
-
# Active Discord members
-
# Telegram members
28,970
# Active Telegram members
730

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