October 4th, 2024
Vechain (VET) News
Get the latest VeChain (VET) news covering critical developments, market updates, and innovations in the VeChain ecosystem. Discover updates about its growth and how it is applied to revolutionizing the supply chain and healthcare industries through sustainable solutions that enhance business transparency, traceability, and overall efficiency.
VeChain (VET) Price on Verge of Bullish Breakout Amid Rising Community Engagement
By Steve Muchoki
August 26th, 2024
The VeChain ecosystem has grown rapidly in the past years to encompass decentralized community governance through the VeBetterDAO.
Nubila Kickstarts Fundraising Round Led by IoTeX, VeChain and Other Leading Investors
By Chainwire
July 1st, 2024
Nubila, a leading data oracle specializing in accurate and actionable Environmental, Social, and Governance (ESG) data for the Decentralized Physical Infrastructure Network (DePIN) ecosystem, has kicked off its fundraising round.
Investors Brace as ADA Is Set for 5x, XRP for 10x, VET for 20x, But NFTFN Aims to Eclipse Them All with A 50x Return in the Bull Run
By Svetlana Soroka
April 7th, 2024
The impressive growth potential offered by these altcoins is being challenged by NFT Finance (NFTFN).
VeChain (VET) Joins Tokenization Scene with MaaS Launch
By Godfrey Benjamin
March 27th, 2024
The debut of VeChain’s MaaS platform has aroused debate regarding the potential influence on the price of VET, in addition to its technological improvements.
Predicting the Next 10x Altcoin: Could It Be Pullix (PLX) Over VeChain (VET) or Stellar (XLM)
By Svetlana Soroka
December 23rd, 2023
In this article, we will answer a major question: among Pullix, VeChain, and Stellar, which one has the potential to skyrocket by 10x?
Why Do Investors Have Their Eyes on Hedera (HBAR), VeChain (VET) and Shiba Budz (BUDZ)
By Svetlana Soroka
September 27th, 2023
Hedera Hashgraph (HBAR), VeChain (VET), and Shiba Budz (BUDZ) are three coins that have recently been creating a stir in the market.
SingularityNET Partners with Blockchain Firm VeChain to Fight Climate Change
By Babafemi Adebajo
August 25th, 2023
SingularityNET’s partnership with VeChain is one of many cases where blockchain is being integrated with AI.
VeChain (VET) and Filecoin (FIL) in Decline, VC Spectra Climbs: A Beacon in Crypto Downturn
By Svetlana Soroka
August 24th, 2023
VeChain’s (VET) and Filecoin’s (FIL) recent bearish trends have propelled many investors to embrace VC Spectra (SPCT).
Can VeChain Return on A Bullish Trajectory? Price Projections for VET, FLOW, and SPCT
By Svetlana Soroka
July 13th, 2023
Let’s cover the near-term price estimates for VeChain (VET), Flow (FLOW), and VC Spectra (SPCT).
Ethereum on the Brink of Hyped Resistance, VeChain and Tradecurve Prices on Upward Swing
By Kseniia Klichova
June 28th, 2023
Tradecurve, a hybrid exchange combining centralized and decentralized features, has generated buzz within the online trading community alongside VeChain and Ethereum.
VeChain VET $0.02 24h volatility: 2.2% Market cap: $1.84 B Vol. 24h: $22.36 M is an enterprise blockchain designed for operational accountability and transparency. Its origin includes being a subsidiary of Bitse, one of the largest blockchain firms in China. VeChain began with the VEN token on the Ethereum blockchain, but moved to its own network, the VeChainThor (VET) blockchain, in 2018.
The blockchain platform operates a dual token system, each token performing unique functions. While VET is the asset available for public purchase and used for transactions on VeChain dApps, the VTHO token is used for smart contracts. Separating both tokens allows the VeChain network to maintain high scalability with low transaction fees.
The platform offers more flexibility than many other networks. For instance, several meta-transaction features are available to developers, such as fee delegation used for easy user onboarding.
In addition, users can specify transaction execution and expiry depending on specific factors. While transaction execution allows VeChain users to define a block height or timestamp for execution, transaction expiry lets users define expiry times for most transactions. Outside the specified window, the transaction expires or becomes invalid. However, these functions require smart contracts and are not available for simple VET transfers.
The focus of VeChain on the Internet of Things (IoT) is already yielding applications that allow real-time data monitoring for supply chain purposes. Businesses can use IoT devices powered by the VeChain blockchain to simplify communication and data exchange, ensuring supply chain traceability and easy information verification.
Explore our VeChain (VET) guide for extensive details about the network and its exciting use cases.
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FAQ on Vechain (VET) News
What does VeChain do?
VeChain is a blockchain that supports smart contract solutions for various business applications. Its enterprise application offers businesses an efficient way to run their operations, permanently record data, and enjoy easy traceability for the transportation of goods and products.
Who owns VeChain?
The VeChain network was co-founded by Sunny Lu, who was the former chief information officer (CIO) of Louis Vuitton’s Chinese arm, and Jay Zhang, who serves as the chief financial officer (CFO) at VeChain, in 2015.
Is VeChain better than Ethereum?
VeChain and Ethereum have a few similarities, including support for decentralized applications and smart contracts. However, while Ethereum is more appealing to a broader community, VeChain is better applied to enterprise operations.
Is the VeChain coin worth buying?
The existing and potential applications of VET make the asset a healthy investment. Increased adoption of the VeChain network can also increase the likelihood of VET’s profitability soon. However, all users must remember to conduct extensive research before making any investments.
Does VeChain burn tokens?
VeChain’s burn mechanism is applied to VTHO and not VET. The network continuously burns a percentage of VTHO every time users or enterprises execute transactions or smart contracts.
