VeChain (VET) is a token that plays a central role in the VeChain ecosystem, designed to improve supply chain management and other business processes using blockchain technology.
Here are some interesting facts about VET:
Dual token system:
VeChain uses two cryptocurrencies: $VET and $VTHO . VET is used for transferring value and securing the network, while VTHO pays for transaction costs, similar to gas in Ethereum.
Supply chain management:
The main goal of VeChain is to enhance the transparency and traceability of supply chains. VET is used to identify products and link them to digital identifiers that can be verified by consumers.
Partnerships with major companies:
VeChain actively collaborates with major companies such as Walmart China, BMW, PwC, and DNV GL, which confirms the recognition of blockchain by leading firms.
Real use cases:
The VeChain blockchain is used for managing logistics, monitoring temperature and storage conditions, as well as creating decentralized applications for various purposes.
Energy efficiency:
VeChain is designed as an energy-efficient and sustainable network, making it attractive for businesses and government organizations.
Well-known Chinese project:
VeChain is a Chinese project that is successfully implemented in collaboration with major companies and has received investments.
Price change:
VET has shown significant growth, outperforming other Layer 1 blockchains.
Overall, VeChain is an innovative project that combines blockchain technology with real business challenges, focusing on transparency, security, and efficiency in supply chains.