VeChain

VeChain was established in 2015 as a private consortium chain collaborating with enterprises to explore blockchain applications. In 2017, it transitioned to a public blockchain with the ERC-20 token VEN, later launching its main net in 2018 as VET. VeChain envisions a trustless data-sharing ecosystem for the fourth industrial revolution. The platform utilizes VET and VTHO tokens on VeChainThor to manage value and transactions efficiently, enhancing traceability and transparency in supply chains and diverse ecosystems. The VET token generates VTHO (which is used for gas fees) and acts as the value storage and transfer medium. VeChain aims to be A scalable, low-carbon using blockchain platform for sustainability.

VeChain faces competition with other blockchains.

The VeChainThor blockchain uses a Proof-of-authority consensus mechanism (POA).

VeChain is still working towards mass adoption.

According to Coinmarketcap, The maximum supply of VET is around 86 billion VET, out of which more than 72 billion VET are in circulation. (July 2023)

According to DefiLlama, the TVL is $1.02m. (July 2023)

VeChain’s creator and co-founder, Sunny Lu, is well-known in the crypto industry.

Transactions on VeChain are moderately fast. This will boost utility.

VeChain has a detailed roadmap of its future plans. This shows the commitment to project completion.

VeChain is well known for its work with supply chains and big organizations.