The VET token is the native cryptocurrency of the VeChainThor blockchain, designed to enhance supply chain management and business processes. VET is primarily used for transferring value across the VeChain network and plays a key role in staking and governance. It works alongside VeThor Token (VTHO), which is used to pay for transaction fees and smart contract execution. VeChain aims to provide transparent, secure, and efficient data tracking, often used by enterprises to verify product authenticity and logistics. VET enables seamless integration of blockchain into real-world applications, bridging digital and physical systems across various industries such as retail, agriculture, and healthcare.
A VET token is the native cryptocurrency of VeChain, a blockchain platform designed to enhance supply chain management and business processes.
Key Details:
Symbol: VET
Network: VeChainThor blockchain
Purpose: Used for value transfer and staking on the VeChain network
Utility: Works alongside another token, VTHO (VeThor Token), which pays for transaction fees
Common Uses:
Tracking goods in the supply chain (e.g., verifying product authenticity)
Smart contracts and decentralized applications (dApps)
Enterprise partnerships in industries like luxury goods, agriculture, and logistics
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