► Complete Review: https://www.coinbureau.com/review/vechain-vet/
► Best VET Wallets: https://www.coinbureau.com/analysis/best-vechain-wallets/
► The BRD Video: https://www.youtube.com/watch?v=5Gq3Yq2uVXs
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://vechain.org/
► Whitepaper: https://bit.ly/2FtxVPy
► GitHub: https://github.com/vechain
📱️ Socials 📱
► Official Blog: https://medium.com/@vechainofficial
► Twitter: https://twitter.com/vechainofficial
► Telegram: https://t.me/vechain_official_english
📝 Project Overview 📝
VeChain aims to use the power of blockchain tech to improve upon the imperfections in the existing supply chain process. Its intention is to track goods every step of the way, from production to delivery
It makes use of a combination of blockchain technology, along with its proprietary smart chip to track products during their lifecycle. The VeChain smart chip is easily implemented into various Internet of Things (IoT) products.
⚙️ Technology ⚙️
Toolchain is one of the features on the VeChain blockchain. This is a Blockchain-as-a-Service. It’s is a comprehensive blockchain, which provides services like data deposits, product lifestyle management, supply chain process control, and process certification.
Vechain uses a unique consensus method called “Proof of Authority”. It was designed in order to overcome many of the obstacles that are faced by established consensus protocols such as Proof of Work, Proof of Stake and Byzantine Fault Tolerance.
The main benefits behind the POA consensus method is that it has low computational power requirements as well as being optimised for system continuity. Moreover, there is no requirement for any communication between the nodes to reach this consensus.
💰️ Token 💰
The VeChain blockchain uses a dual-token model with VeChain tokens (with ticker VET) and VeThor tokens (VTHO). Using this type of economic model keeps transaction fees on the platform from being dependent on the price of VET coins, which can be extremely volatile.
VTHO is created when any address holds VET. If you’re familiar with the NEO project, it’s similar to GAS on the NEO network).
If transaction costs are associated, 70% of the VTHO paid is automatically destroyed, with the remaining 30% awarded to the Authority Masternode Operator.
VeChain held a crowdsale ICO which took place on August 17, 2017. It raised more than $20 million in ETH at the time. These were for the ERC20 standard VEN tokens which were recently converted to the native token on the main-net launch.
There is an 86 billion total supply of VET Tokens.
👨💻️ Team, Partners & Development 👨💻
VeChain’s CEO is Sunny Lu, and has been on the project since the beginning. Prior to VeChain, Lu was the CIO for Louis Vuitton in China.
The current COO of VeChain is Kevin Feng, who has more than a decade of experience working in the privacy and cybersecurity industry.
Jianliang Gue serves at the Vechain CTO. He has over 16 years of experience in the software and hardware development fields.
VeChain recently released their new native VeChainThor Wallet. They are also moving forward with their designs on cross-chain interoperability. The Roadmap also includes the opportunity for anonymous transactions (with bulletproof technology).
📈 Trading & Wallets 📈
VET is quite popular and is listed on a number of exchanges including Binance, CoinEx, OceanEX.
There is strong liquidity for the token across these markets and the volume is well spread out accross them. There is also pretty decent turnover and order books on the individual exchanges.
There are a number of wallets where you can store your VET tokens. The best choice shoulc be the native VeChain thor wallet.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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