VeChain
VET Price
VeChain, launched in 2015, enhances supply chains with VET/VTHO tokens, leveraging Proof-of-Authority for enterprises. More
| Fully Diluted Valuation | $1.82B |
|---|---|
| 24H Trading Volume | $22.32M |
| 24H Low / High | $0.02 / $ 0.02 |
| Circulating Supply | 85.99 B |
| Total Supply | 85.99 B |
| Max Supply | 86.71 B |
| Categories | Internet of Things (IOT) 4 more |
|---|---|
| Founder | Sunny Lu 1 more |
| Website | apps.vechain.org Whitepaper 1 more |
| Socials | 10 more |
| Chains | VeChain Ecosystem |
| Explorer | Vechain 3 more |
| Name | Pair | OG Score |
|---|
VeChain: Transforming Businesses with Blockchain Innovation
VeChain, established in 2015, stands as a groundbreaking blockchain platform revolutionizing enterprise operations and supply chain management. Initially running on Ethereum as VEN, it transitioned to its own mainnet as VET in 2018, with a fundamental focus on leveraging distributed ledger technology to streamline complex supply chains.
This robust platform thrives on two tokens: VeChain Token (VET) and VeChainThor Energy (VTHO), each serving distinct purposes within the ecosystem. VET acts as the currency powering transactions and value transfer, while VTHO facilitates stable fee charges, ensuring smooth network usage by separating gas costs.
At its core, VeChain champions Proof-of-Authority, employing Authority Masternodes for transaction verification. These nodes, accessible through staking 25 million VET and undergoing KYC, contribute to the platform's rapid transaction processing capability while maintaining a level of central authority.
The platform's standout feature is VeChain Identity (VID), utilizing SHA256 hashing to create unique identifiers attached to products, enabling comprehensive tracking throughout the supply chain via QR codes, NFC tags, or RFID tags. This system enhances trust in logistics and warehousing.
Moreover, VeChain fosters a private ecosystem with mining nodes managed by businesses, ensuring exclusivity while allowing companies to operate their nodes for enhanced data security.
Spearheaded by founder Sunny Lu, formerly CIO of Louis Vuitton China, and co-founder Jay Zhang, previously associated with Deloitte and PriceWaterhouseCoopers, VeChain's roots in enterprise-grade blockchain innovation run deep. Their mission involves transforming traditional business models, evident through collaborations with industry giants like BMW, LVMH, and Walmart.
VeChain's unique proposition lies in its dual-token system, transformative protocols like 'fee delegation,' and its user-friendly 'ToolChain' platform. This platform enables companies unfamiliar with crypto to use fiat for blockchain services while handling gas payments via smart contracts.
Notably, VeChain's success extends to diverse sectors, from carbon tracking and international logistics to incentivized ecosystems, owing to its trustless automation via smart contracts, ensuring transparency and cost reduction across industries.
VeChain Technology, with offices worldwide, provides sustainable blockchain solutions via VeChain ToolChain™, facilitating global digital transformation for enterprises. Supported by strategic partners like PwC and DNV, VeChain's real-world applications cement its position as an industry pioneer, offering trust-free ecosystems to a multitude of leading enterprises.
VeChain's uniqueness lies in its dual-token system: VET powers transactions, while VTHO facilitates stable fees, with a focus on supply chain management via VeChain Identity, allowing comprehensive product tracking.
Sunny Lu, former CIO of Louis Vuitton China, and Jay Zhang, previously linked with Deloitte and PriceWaterhouseCoopers, spearhead VeChain's enterprise-grade blockchain innovation.
VeChain has garnered support from various strategic partners, including Fenbushi Capital, PwC and DNV, aiding its global digital transformation endeavors.
VeChain operates on a Proof-of-Authority mechanism, utilizing Authority Masternodes for transaction verification and maintaining a level of central authority.
You can buy VeChain (VET) on Binance, BybitBitgetCoinbaseMEXC cryptocurrency exchanges.
OGAudit is the first independent social audit platform for web3 projects and cryptocurrencies. Here you can find comprehensive crypto evaluations, ratings, unbiased and objective expert user reviews. There may be positive, negative, and neutral evaluations based on experts' experience and perspective with the product or the service about each cryptocurrency like VeChain VET. To access these ratings, evaluations, and comments, click here.
There may be different staking options available such as to participating in DAOs, decentralized governance and revenue sharing. Please watch out for scams. Only consider staking options promoted on the official website of the project and advised partners. Please click here to see the official links and make sure to follow the latest instructions.
This data is dynamic and varies depending on the number of tokens that are being vested/vesting, removed from circulation because of network transactions or burned permanently and staking reward distribution mechanism. According to self-declared data the circulating supply of VeChain (VET) is ($85,985,041,177), max supply of VeChain VET is ($86,712,634,466) and the market cap of VeChain VET is ($1,819,050,404).
What is the VeChain (VET) price prediction?
Predicting prices in the crypto market is highly speculative and can't be definitively stated. Various factors drive price movements such as macroeconomics, Bitcoin ($btc) and crypto market overall behavior, on-chain activity, whale positionings, growth potential of the project etc. We cannot give any price predictions nor financial advice, but you can look at our comprehensive data, expert user reviews and decide if the product suits your needs! Please do your own research DYOR!
The current market price of VeChain (VET) is $0. As the OGAudit community we mainly focus on features such as use cases, product development, and sustainable growth. However, we also provide real-time market data and coin/token statistics, analytics, price history for popular altcoins. see here.
It is important to do comprehensive research before deciding whether VeChain (VET) or any other cryptocurrency is a good investment. We believe you should ask each of these questions before deciding to invest or make partnerships with any crypto project:
Is this type of digital asset considered legal in your country?
Does Coin (VeChain VET) solve a good problem or offer the best solution?
Do products and services work effectively, and solutions are scalable?
Does the team have a realistic roadmap and can catch up with it?
Does VeChain (VET) have reasonable and sustainable revenue income models?
Can the team market their products and services well?
How decentralized is the governance and how strong is the community?
Has it reached its fair market value yet?
Does the coin/token have enough trading pairs and liquidity?
As the OGAudit community crypto experts, we evaluate crypto projects by asking each of these questions and more, to provide objective and reliable comments and ratings for the end-user, investors, and institutions. By carefully considering these reviews, ratings, and price action, you can decide whether VeChain (VET) is a good crypto to invest in or not. To access these evaluations and ratings please click here . The OGAudit experts are the largest, most experienced, and elite users in the crypto space. However, keep in mind that the scores, expert reviews and comments on our platform are OGAudit users’ personal views and meant for educational purposes only. None of the information we publish on our website contains any investment advice and should not be perceived as such. Always -DYOR- do your own research well.
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