VeChain

• VeChain (VET) is an enterprise-grade L1 smart contract platform that was launched in 2015.

• Transitioned from a private consortium chain to a public blockchain in 2017, mainnet launched in 2018.

• Aims to solve data challenges across industries using distributed governance and IoT technologies.

• Focuses on trustless data sharing for the fourth industrial revolution.

• Dual-token system: VeChain Token (VET) for value transfer and VeChainThor Energy (VTHO) for GAS costs.

• VET's maximum supply is capped at 86,712,634,466 with an inflationary emission rate.

As of today #{today’s date}, the price of VeChain is ₹1.99 INR or 0.02317 USD, with a 24-hour trading volume of 66210497.27 USD. The market capitalisation for VeChain is 2022454763.52USD. The circulating supply is 85985041177 VeChain, with the total supply also being 85985041177 VeChain.

Pros:

• Established partnerships with Fortune 500 companies.

• Robust suite of development tools.

• Large and engaged community.

• Real-world applications in various industries.

Cons:

• The high minimum deposit for running a node.

• Faces competition from other blockchain platforms.

• Historical ties to the Chinese Communist Party raise concerns for some investors.

• Real-world utility and partnerships with multiple companies.

• Strong, scandal-free team history and a clear value proposition with its dual-token system for enterprise-level solutions.

• A dual-token system (VET and VTHO) separates blockchain usage cost from market speculation.

• Ensures transaction cost stability, making it suitable for commercial applications.

• Problem the Coin is Solving

• Targets inefficiencies, opacity, and trust issues in traditional supply chains.

• Enables streamlined data transfer and provenance, improving visibility and accountability.

• Founded by Sunny Lu, former CIO of Louis Vuitton China.

• Team of professionals from diverse industries, driving adoption in various sectors.

• ICO price was $0.00072, raising $20 million in September 2017.

• Market volatility, regulatory changes, and competition from other projects are risks.

• Close ties to the Chinese market may introduce geopolitical risks.

The VeChain whitepaper outlines the project’s vision to revolutionise supply chain management through blockchain technology. It introduces the dual-token system (VET and VTHO) designed to facilitate value transfer and smart contract execution within the VeChainThor blockchain. VET serves as the smart currency, allowing for investments and transactional activities, while VTHO is consumed as “gas” for transactions and smart contract operations.

VeChain aims to address the challenges faced by traditional supply chains, including inefficiencies, lack of transparency, and trust issues. By leveraging distributed ledger technology, VeChain provides a transparent, immutable, and efficient platform for the flow of information and value across the supply chain. This enables businesses to verify the authenticity of products, track their journey through the supply chain, and ensure compliance with regulatory standards.

The whitepaper details VeChain’s governance model, emphasising distributed governance and stakeholder participation through tokenholder voting. This model ensures that the development and strategic direction of the VeChain ecosystem are aligned with the interests of all stakeholders, including businesses, developers, and investors.

VeChain’s technical architecture is designed for scalability, security, and ease of use. It features a proof-of-authority (PoA) consensus mechanism, which allows for high transaction throughput and low latency while maintaining network security. The whitepaper also highlights VeChain’s commitment to sustainability and its efforts to minimise the environmental impact of blockchain operations.

The whitepaper presents various use cases for the VeChain platform, demonstrating its versatility and potential to transform industries beyond supply chain management. These include applications in luxury goods authentication, the automotive industry, food safety, and healthcare.

In conclusion, the VeChain whitepaper outlines a comprehensive vision for using blockchain technology to create a more transparent, efficient, and trustworthy global supply chain. It emphasises the importance of community engagement, sustainable development, and innovation in achieving this vision. Through its dual-token system, governance model, and technical architecture, VeChain is positioned as a leading enterprise-grade blockchain platform capable of addressing the complex challenges of modern supply chains and beyond.

This summary encapsulates the essence of the VeChain whitepaper, highlighting its innovative approach to blockchain-based supply chain management and the broader implications for various industries.