Article contents:
- What is VeChain (VET)?
- Do you have VeChain NFT?
- How does VeChain work?
- Is investing in VeChain a good idea?
- How to buy VeChain?
- VeChain price history
- How to use VeChain?
What is VeChain (VET)?
VeChain was co-founded by Sunny Lu, former CEO of Louis Vuitton China, and Jay Zhang. They first launched the VEN coin on the Ethereum blockchain and raised $20 million through the sale of the coin. VEN was later replaced by VET when VeChain launched its own blockchain.
Solving problems in the supply chain and making it easier for companies to manage information is the main goal of the VeChain platform. The key to VeChain's mission lies in the smart chips that track all points in the supply chain flow.It is linked to a Distributed Ledger (DIT) for maximum security, transparency and reliability. For example, VeChain has partnered with Renault to create a tamper-proof digital automotive service record that protects potentially sensitive repair data.
VeChain's secondary goals are to become a leader in Decentralized Applications (DApps) and Initial Coin Offerings (ICOs) and to become an Internet-of-Things (IoT) broker. VeChain has two currencies, VET and VTHO. VET is a VeChain token used to cancel smart contracts on the VeChain network, functioning as "smart money".Anyone can buy and invest in vocational training. The VeChainThor or VTHO energy token is used for transactions on the VeChain blockchain.
Do you have VeChain NFT?
users need a VeChain compatible wallet to buy, sell and store NFTs on VeSea, which is compatible with VeChain Sync2 and VeChainThor wallet. In addition, there are no additional costs with VeSea thanks to the efficiency of the underlying blockchain.However, users have to pay a transaction fee of 2.5%.
VeChain offers two series of VeKings: NFT and Paper Project. 8,147 artifacts are available in the VeKings NFT series, representing Vikings and Valkyries, symbols of the great VeChain empire. A total of 11,880 uniquely generated NFTs make up the Interactive NFT Paper Project, developed and maintained by Southern California artist Emmet Ahlstrom.
How does VeChain work?
Is investing in VeChain a good idea?
However, investing in a cryptocurrency that you feel you need more confidence in can be very risky and you could lose your hard-earned money. So base your asset allocation decisions on the return you expect from your investment. But is the VeChain network secure?VeChain works with a number of security companies including Secureware, SlowMist and HackenProof to detect potential vulnerabilities and proactively block cyber threats.
How to buy VeChain?
VeChain price history
Like other digital currencies, VeChain is an extremely volatile asset. There is no reliable way to predict the price of VET. As always, it is important that you do your research before investing in cryptocurrencies.
From the launch of VET on the VeChainThor blockchain in 2018 to the first months of 2021, the coin's price has fluctuated around €0.005.Since January 2021, the price first reached an all-time high of €0.19 in April 2021 and then again in May 2021. The price has fallen significantly again and has not reached its previous high.
How to use VeChain?
As supply chains become more complex, the need for transparency, efficiency and trust becomes more important. With its innovative integration of blockchain, smart contracts, IoT and tamper-proof RFID tags, VeChain offers an unparalleled solution to supply chain management challenges.By providing trust, accountability and real-time intelligence, VeChain is poised to usher in a new era of supply chain efficiency and reliability and revolutionize industries around the world.
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