When was VET coin issued

VeChainThor (VET), officially launched on June 30, 2018, serves as a secure and efficient blockchain platform for businesses in managing supply chains and complex processes.

Nov 06, 2024 at 10:25 pm

VET Coin: A Comprehensive Guide

When Was VET Coin Issued?

VeChainThor (VET) was officially launched on June 30, 2018, after completing its initial coin offering (ICO) in August 2017.

Understanding VeChainThor (VET)

VeChainThor is a blockchain platform designed to provide businesses with a secure and efficient infrastructure for managing supply chains and other complex processes. It is built on the Ethereum blockchain and uses a dual-token system that includes VET and VeChainThor Energy (VTHO).

The VET Token

VET is the native token of the VeChainThor blockchain. It is used to:

• Pay for transaction fees on the network.
• Secure the network through staking.
• Manage decentralized applications (dApps) built on VeChainThor.

The VTHO Token

VTHO is a utility token that is used to:

• Pay for gas fees on the network.
• Executing smart contracts.
• Providing incentives for node operators.

Key Features of VeChainThor

VeChainThor offers several key features that make it well-suited for supply chain management and other business applications:

• Traceability: VeChainThor allows businesses to track products and assets throughout their entire lifecycle, ensuring transparency and accountability.
• Security: VeChainThor uses advanced cryptography to secure transactions and protect data.
• Immutability: Once data is stored on the VeChainThor blockchain, it cannot be tampered with or altered.
• Scalability: VeChainThor is designed to handle high volumes of transactions without compromising performance.
• Interoperability: VeChainThor can integrate with other blockchain platforms and legacy systems, making it a versatile solution for businesses.

Use Cases of VeChainThor

VeChainThor has been used in a wide range of industries, including:

• Supply chain management: Tracking the movement of goods from production to delivery.
• Healthcare: Managing patient records, drug traceability, and clinical trials.
• Finance: Facilitating cross-border payments, trade finance, and asset management.
• Sustainability: Monitoring environmental performance, waste management, and carbon emissions.

The VET Token: A Detailed Analysis

VET is a valuable token with a number of unique characteristics:

• Finite Supply: There is a fixed supply of 86.7 billion VET tokens.
• Governance: VET holders can participate in the VeChainThor governance model by voting on proposals and staking their tokens.
• Tokenomics: VeChainThor uses a burn mechanism to reduce the supply of VET over time, increasing its value.

Investing in VET

VET is a popular investment asset due to its strong fundamentals and potential for growth. Here are some factors to consider when investing in VET:

• Research: Thoroughly research VeChainThor and its ecosystem before investing.
• Risk Tolerance: Cryptocurrencies can be volatile, so only invest an amount you are willing to lose.
• Investment Strategy: Decide on a clear investment strategy, such as holding for the long term or trading for short-term gains.
• Secure Storage: Store your VET tokens in a secure hardware wallet or software wallet to protect them from theft or loss.

Additional Information

• Official Website: https://www.vechain.org/
• Whitepaper: https://github.com/vechain/VeChain-Whitepaper/blob/master/vechain_whitepaper_en.pdf
• Explorer: https://explore.vechain.org/home
• GitHub Repository: https://github.com/vechain/thor