In This Article
If you’ve been hearing about VeChain but aren’t quite sure what it is or why it matters, you’re in the right place. In this guide, we’ll give you a full VeChain overview, how it works, what problems it solves, and why real companies are already using it.
We’ll cover the basics of what is VeChain (VET), break down how its two-token system (VET and VTHO) functions, and explain how it connects blockchain tech with real-world business needs. Whether you’re brand new or just looking for a quick VeChain review, this guide will walk you through everything you need to know.
Key Takeaways
- Enterprise-grade blockchain: VeChainThor is optimized for business use, offering scalable infrastructure for real-world applications like supply chain tracking and ESG data.
- Dual-token model: VET is used for value transfer and governance, while VTHO handles transaction fees to maintain network efficiency and cost predictability.
- Proof-of-Authority consensus: A small, verified group of validators runs the network, reducing energy usage and speeding up transactions.
- Adopted by real companies: VeChain is used by global brands like BMW, Walmart China, and DNV to track supply chain data and verify authenticity.
- Updated tokenomics: The Renaissance upgrade added staking NFTs and new reward mechanisms to increase decentralization and long-term sustainability.
- Sustainability focus: VeChain is building tools to support recycling, carbon tracking, and behavior-based reward systems tied to ESG goals.
VeChain (VET) Review: Summary
In this guide, we’ll break down how VeChain works, VeChain use cases, and how the VET and VTHO tokens are set up to keep things efficient. We’ll also cover real-world use cases, explain how the network supports businesses, and show why companies like BMW and Walmart China are using it.
We’ll look at what makes VeChain different from other blockchains, from its Proof of Authority setup to its enterprise focus. And if you’re thinking of investing, we’ll walk you through everything from VeChain explained to where to buy VeChain crypto.
Terms You Need to Know Before Understanding VeChain
If you’re trying to wrap your head around what VeChain actually does, a few key terms will keep coming up. Understanding these early on will make everything else click into place faster, from how the tech works to why businesses are paying attention.
- VeChainThor: This is VeChain’s custom-built blockchain. It’s made for companies that need reliable, real-time data tracking and not just for trading crypto.
- VET: The main token used to move value around the network. If you’re holding VET, you’re also helping keep the ecosystem running and earning passive rewards in the process.
- VTHO: This token actually pays for transactions. The more VET you hold, the more VTHO you generate. Simple as that.
- Dual-token system: VeChain keeps things stable by splitting utility (VTHO) from value (VET). This helps businesses avoid crazy fee spikes like those on other blockchains.
- Proof of Authority (PoA): Instead of relying on anonymous miners, VeChain uses known validators to confirm transactions. It’s fast, efficient, and easier to scale in the real world.
- Authority Masternodes: These are the trusted parties that keep VeChain running smoothly. They’re approved based on identity and reputation, not just who has the most computing power.
Once you’re familiar with these terms, the rest of VeChain’s ecosystem starts making a lot more sense, especially when it comes to real-world adoption.
What is VeChain (VET)?
VeChain is a public blockchain designed to help businesses gain visibility into their supply chain, not just in theory, but in real-time operations. Every product, every shipment, every step gets logged using blockchain technology and IoT integration. That data is locked, timestamped, and tamper-proof.
Instead of spreading itself thin, VeChain focuses on what it’s good at: solving real problems in product lifecycle management, supply chain management, and compliance tracking. Smart contracts, blockchain-as-a-service tools, and a dual-token system (VET and VTHO) are practical for companies that want automation, not overhead. The network supports meta transaction features, offers consistent transaction fees, and is already being used in industries like automotive, retail, and healthcare.
Our Take on VeChain Crypto Project
We think VeChain is one of those rare crypto projects that doesn’t try to be loud. It’s not chasing headlines or trying to reinvent everything. Instead, it’s doing something surprisingly practical, using blockchain to solve real problems in logistics, product tracking, and sustainability.
It’s not trying to flip the entire financial system. It’s just helping companies keep track of stuff better. That sounds simple, but when you look at how messy global supply chains are, it starts to feel pretty important.
The two-token setup, VET for value and VTHO for gas, takes a second to wrap your head around, but it actually works well. It separates utility from speculation in a way that keeps the network usable while still rewarding holders.
We like that VeChain has stayed focused. It hasn’t pivoted a dozen times or tried to chase whatever’s trending. That consistency matters. So does the fact that it already has partnerships with companies outside of crypto. That’s more than a lot of chains can say.
VeChain probably won’t make headlines on crypto Twitter every other week. But in terms of actually getting used to? It seems to be doing pretty well. This is one of the few projects we’d call “boring in a good way.” And in a market full of hype, that’s refreshing.
History of VeChain Crypto
VeChain was founded in 2015 by Sunny Lu, former CIO at Louis Vuitton China, and Jay Zhang, who worked at PwC and Deloitte on financial controls and token economics. It started out under Bitse, focused entirely on business use cases like authenticating goods and tracing shipments.
In 2017, it rebranded and, by 2018, launched the VeChainThor blockchain, its own network with a Proof-of-Authority consensus mechanism and a closed group of 101 Authority Masternodes. These identity-verified nodes keep things fast, secure, and compliant.
Over time, VeChain built relationships with serious players, BMW, Renault, Walmart China, DNV GL, and rolled out features like carbon credit solutions, digital maintenance books, and standardized smart contract services. It was never a science experiment. It was meant to get picked up and used.
About the VeChain Team
The project is managed by the VeChain Foundation, based in San Marino. It oversees everything from code updates to public engagement. The team has a Steering Committee backed by five teams handling tech development, partnerships, and process templates.
Sunny Lu brings a background in managing complex computer systems, and Jay Zhang adds structure through his experience in corporate governance and finance. That mix of tech and business helps them make decisions that actually work. Features like on-chain governance and stakeholder voting give the wider community a say, without slowing things down.
Vision of the VeChain Blockchain Project
The goal of VeChain is simple: make blockchain useful. That’s it. The VeChainThor platform was built to plug into existing systems, not replace them. With support for smart contracts, dApps, and multi-task transactions, businesses can connect real-world operations to secure digital records.
It uses a two-token model, where VET transfers value and VTHO covers gas fees. This makes costs more stable and the network easier to scale. It supports tracking systems using RFID, QR codes, and smart chips, with plug-and-play access via RESTful APIs.
It’s all designed for use in environments where traceability and accountability matter, like sustainability reporting, product verification, and workflow automation.
What Problems Does VeChain Solve?
VeChain aims to tackle real-world problems that slow businesses down or leave them exposed:
- Product Authenticity: Verifies products are legitimate using blockchain, IoT devices, and traceable tags.
- Regulatory Traceability: Logs every step on-chain to meet strict compliance and industry standards.
- Enterprise On‑Chain Governance: Makes business decisions more structured using verified validators and a clear proposal process.
- IoT & SaaS Integration: Links physical products to digital systems through existing APIs, so companies don’t need to rebuild from scratch.
- Supply Chain Transparency: Tracks the full journey, where something came from, how it moved, and when it arrived.
VeChain was built to do one thing well: give businesses a reliable way to track, verify, and automate. It’s already doing that in the field, backed by real companies and a functional blockchain network. There’s no flash here, just infrastructure that works.
VeChain (VET) Tokenomics
VeChain is built with intention; every piece of its tokenomics system is structured to support practical use. Its dual-token economic model, fixed VET supply, and smart approach to governance make it well-suited for businesses that care about cost predictability, transparency, and long-term sustainability.
This breakdown explains how the VeChainThor blockchain balances utility, value, and real-world functionality.
VET Token Supply
VET, the native token of the VeChain network, has a maximum supply of 86.7 billion tokens. That number is locked. All tokens were pre-mined, so there’s no surprise inflation or creeping supply increases. It uses 18 decimal places, which allows for micro-transactions across industries like logistics, retail, and IoT, where precision matters.
The large supply of the VeChain VET token suits enterprise use cases, especially those involving high transaction volume, machine-to-machine payments, and automated smart contracts. It’s also easier for businesses to work with a token that offers stable units of account.
A fixed supply gives every stakeholder, from node operators to CFOs, the ability to plan ahead. For businesses, it means clarity. For the ecosystem, it reinforces long-term value stability.
VET Coin Distribution & Allocation
VET’s initial distribution came through a public and private sale before the mainnet launch. The allocation looked like this:
- 41% to public and enterprise investors
- 23% to the VeChain Foundation
- 10% to the core team, under vesting
- 26% reserved for ecosystem growth and strategic partnerships
Today, nearly all of the supply is already in circulation, which removes the risk of massive unlocks or quiet token releases. The VeChain Foundation continues to use its portion to fund dApp development, issue grants, and build out long-term infrastructure.
Healthy distribution supports decentralization while leaving enough room for structured growth. There is no heavy central control, no massive reserves sitting idle, just a solid foundation for a real-world ecosystem.
VeChain Utility & Use Cases
One of VeChain’s strongest features is the dual-token model. It splits value from utility so businesses can run operations without needing to speculate on token prices.
- VET: Used for value transfer, staking, node roles, and protocol-level voting.
- VTHO: Generated automatically by holding VET. It’s used to pay gas fees, power smart contracts, and cover the cost of every on-chain transaction.
This structure keeps transaction costs stable. Enterprises can budget confidently, acquire VTHO as needed, or let it accumulate naturally through staking.
Real-world use cases include:
- Supply chain tracking via IoT tags, QR codes, and RFID
- Anti-counterfeiting for luxury goods, electronics, and pharmaceuticals
- Carbon credit systems with full-chain traceability
- Digital certificates for education, quality control, and compliance
- ToolChain integration for SaaS-level blockchain services
This isn’t theoretical. These use cases are live, and businesses already use VeChain to verify products, track movement, and automate workflows. The two-token system keeps things efficient and scalable.
VET’s Governance & Protocol Control
VeChain uses a Proof-of-Authority (PoA) system, built for performance, identity assurance, and real-time finality. Instead of open anonymous validators, PoA relies on a set of Authority Masternodes, entities that have been verified and meet the staking requirements.
The main parts include:
- Authority Nodes: Validate transactions and maintain consensus
- Economic & X-Nodes: Stake VET, earn VTHO, and contribute to ecosystem stability
- VeChain Foundation & Steering Committee: Propose and review VeChain Improvement Proposals (VIPs) using structured process templates
- VeVote platform: Allows all stakeholders to vote based on their token holdings and node type
PoA 3.0 introduced flexible validator requirements (no KYC needed), while still maintaining trust through stake thresholds (25M–600M VET). Delegators can stake using NFTs and assign their weight to validators, increasing participation.
This model balances speed and transparency. It’s efficient, but not opaque. Decisions are open to the community, but block production remains reliable. That kind of balance is rare in enterprise-grade blockchain platforms.
VeChain’s tokenomics are purpose-built. The fixed supply, dual-token architecture, and hybrid governance model are designed to make blockchain usable in serious, high-volume environments.
While other chains focus on ideology or flexibility, VeChain focuses on execution. It’s one of the few platforms that can handle real-world adoption while offering stable fees, network governance, and a working ecosystem that includes both startups and multinational giants.
How Does VeChain Work?
VeChain combines blockchain technology with real-world business processes, offering a reliable way for companies to track, verify, and automate data across supply chains and product lifecycle management. It’s more than a digital currency platform; it’s a full blockchain-as-a-service toolkit designed for real-world adoption.
The backbone of the ecosystem is the VeChainThor blockchain, a purpose-built blockchain network that supports smart contracts, IoT integration, and RESTful API connectivity. This allows industries like logistics, carbon credit solutions, manufacturing, and environmental sustainability reporting to monitor assets and maintain data integrity digitally.
What makes the VeChain platform unique is its two native tokens: VET tokens (also referred to as the VeChain token VET) and VTHO (VeThor token). Alongside this is its Proof of Authority (PoA) consensus protocol, supported by verified Authority Masternodes. It’s not just about storing value; it’s about improving transparency, reducing transaction fees, and solving practical challenges across industries.
Architecture Behind the VET Coin
VeChain’s architecture was built from the ground up with enterprise needs in mind, emphasizing modularity, transparency, and control. When developers buy VeChain, they’re buying access to a network optimized for real-world utility.
- Dual-token system: The primary token, VET, is used for value transfer, while VTHO covers transaction process costs. This lets enterprises avoid volatile fee models by decoupling asset value from network usage.
- Proof of Authority: The consensus mechanism uses a small set of verified Authority Masternodes, replacing energy-heavy mining with efficient validation.
- Meta transaction features: Developers can cover user fees, thanks to flexible transaction structuring.
- Business-ready APIs: Integrated modules for product authenticity, QR codes, timestamping, and radio frequency identification help verify goods.
This approach turns the VeChain network into more than just a crypto exchange asset; it’s a powerful digital backbone for sectors that demand traceability and compliance.
VeChain’s Blockchain Structure
The VeChainThor blockchain network is engineered for speed, security, and clarity. An Authority Master Node creates every block in under 10 seconds, and finality is achieved instantly due to a lack of reorgs.
The main parts of the structure include:
- Layered architecture: Separates consensus mechanisms, governance, and transaction processing.
- Immutable recordkeeping: All actions, including those from smart chips and IoT devices, are permanently logged, supporting use cases like digital car maintenance books.
- Multi-task transaction support: Multiple contract clauses run in one operation, improving network efficiency and clarity.
This architecture supports VeChain staking, on-chain governance mechanisms, and efficient validation transaction processes.
Did You Know?
After understanding VeChain’s real-world use cases, it’s just as important to store your VET securely in a non-custodial wallet like Best Wallet. Meanwhile, if you’re exploring other promising blockchain projects, don’t miss our guide on 14 Cryptos With the Most Potential in 2025, where we highlight top coins with unique breakout potential.
VET’s Token Standards & Smart Contracts
Smart contracts on the VeChainThor blockchain platform go beyond basic automation; they’re optimized for enterprise SaaS integration, standardized smart contract services, and complex supply chain management workflows.
- Multi-task transactions let one trigger (like scanning a product) execute multiple contract outcomes.
- Fee delegation improves UX by allowing sponsors to cover transaction fees.
- Custom token standards, similar to ERC-20, allow for metadata-rich assets useful in compliance, logistics, and carbon credit tracking.
These features combine fundamental functionality with an appropriate economic model that supports both public and private business operations.
Scalability & Performance
VeChain launched with scalability in mind. Its infrastructure can handle real-world business demand while maintaining speed and reliability.
- Authority nodes confirm transactions quickly, using less energy than PoW or PoS chains.
- Transaction throughput is high thanks to clause-based batching.
- Light computer systems can run nodes, keeping barriers low for entry.
- VTHO generation stabilizes fees, regardless of VeChain token VET market price.
This model supports the VeChain ecosystem as it expands into areas like enterprise blockchain, smart money use cases, and credit solutions.
VeChain’s Key Features
- Proof of Authority consensus with trusted validators
- Dual-token model (VET + VTHO) to keep operations stable
- Meta transaction features for gasless user experience
- IoT integration and blockchain-as-a-service modules
- Tools for product lifecycle management, anti-counterfeit, and supply chain tracking
- ESG functionality for environmental sustainability reporting and CO₂ tracking
These features a focus on real, measurable business impact.
Pros & Cons of VET Coin
Like any blockchain platform, VeChain has trade-offs. Here’s a quick look:
Pros
- Real enterprise adoption across global supply chains
- Stable transaction fees via VTHO model
- Fast and efficient Proof of Authority consensus
- Integrated support for stakeholder voting and VeChain Improvement Proposals
- Ongoing development by the VeChain Foundation
Cons
- Less decentralized than some other chains
- Governance access requires node status or a long-term stake
- Smaller dev community compared to the Ethereum blockchain
- Focuses on business adoption more than retail use
Still, VeChain started with a specific mission: to bring trust, automation, and verifiability into industries that need it most. Whether you’re an investor exploring how to buy VeChain, or an enterprise architect looking to tap into the VeChain platform, the architecture speaks for itself.
Satisfied with what VeChain offers? You can visit our quick 2-step how-to-buy VeChain guide.
VeChain’s Analytics
In this section, we’ll provide a data-driven overview of VeChain’s performance on-chain, in developer circles, and across the broader cryptocurrency community.
On-Chain Metrics
Let’s take a closer look at what’s actually happening on the VeChain blockchain. This part covers the real activity behind the scenes, how many people are using it, how much VET is concentrated in big wallets, and what developers are doing with the codebase.
These are the numbers to watch if you want to understand whether a project is being used or just talked about.
Whale Holdings
VeChain’s token distribution is mainly centralized among a few major holders, mostly exchanges and large custodial wallets.
As of June 2025:
Number of Active Addresses
VeChain has seen strong network growth, with over 8.96 million known addresses and a notable uptick in activity since early 2024.
- Daily active addresses: ~133,000 (24h)
- Weekly active addresses: ~397,000 (7d)
- New addresses: Over 50,000 in the past 24 hours, totaling ~280,000 in the week of June 16th, 2025.
The chart shows a sharp increase in total addresses from mid-2023 onwards, pointing to rising adoption and usage, especially during major market cycles or ecosystem updates.
Addresses by Holdings
Data from VeChainStats reveals that:
- Over 60% of addresses hold under 1,000 VET, indicating a large base of retail users.
- Mid-tier holders (10,000–1M VET) make up a meaningful portion of the distribution, often linked to small businesses or mid-size investors using VeChain’s enterprise tools.
- The upper echelon (wallets with over 10M VET) includes mostly centralized entities such as exchanges, with only a few known to be strategic partners or foundations.
Development Activity
VeChain’s development activity reflects periodic bursts of technical upgrades rather than constant, high-volume code commits.
- Recent commits (past 4 weeks): 13 commits vs. an average of 1 in the sector, showing short-term improvement
- 12-week window: 25 commits (avg. 5)
- Annual commits: 26, which is below the yearly average of 64 for comparable projects
The most active repositories include:
- Sync2 (778 commits past year)
- Connex, Thor, Thor Devkit, and Docs, each showing periodic activity related to front-end tools, SDKs, and network documentation
Developer cross-pollination is strong. VeChain developers are also contributors to projects like Polygon, Chainlink, 0x, 1inch, and Status, which signals a developer base connected to the broader Web3 ecosystem.
According to data from Stack.money and Cryptometheus, VeChain ranks 81st in developer activity, which puts it behind more active ecosystems, but still within the top 100, maintaining relevance through core updates rather than community-driven expansion.
Also, commits often correlate with short-term price surges, as seen in mid-2023, though the overall trend has been declining since then.
What Crypto Community Thinks About VET Coin
Metrics and development matter, but so does perception. What do actual users, traders, and long-term holders think of VeChain? Sentiment can influence momentum, and sometimes, it’s a better signal than the charts.
Turns out, the community is still very much on board:
- 86% of people are bullish on VET, according to more than 86,000 votes on CoinMarketCap.
- VeChain’s social reach is impressive. The project’s official Twitter (X) account has over 856,000 followers, making it one of the most followed enterprise-focused blockchains in the space.
The interest doesn’t stop there; over 856.5K followers on CoinMarketCap also follow VET.
The community backing VeChain is made up of long-term believers who understand the project’s purpose and are willing to wait for adoption to play out. That kind of sentiment doesn’t fade quickly, and in many ways, it’s one of the most valuable assets a project can have.
Is VeChain a Buy?
VET’s price chart tells a familiar story in crypto. After hitting a peak near $0.28 during the 2021 bull run, it’s been on a slow grind downward, currently hovering around the $0.02 to $0.03 range. That’s a drop of more than 90% from all-time highs. At first glance, that might look discouraging, but context matters.
VeChain still has one of the largest enterprise-focused blockchains in crypto, with real-world logistics, supply chain, and sustainability partnerships.
But here’s the trade-off: VET has been more of a slow mover than flashier DeFi or meme coins. It didn’t enjoy the same speculation hype in 2023–2024, and adoption hasn’t scaled as fast as some expected. Still, the fundamentals haven’t collapsed. The project has a strong dev team, one of the most distributed networks in terms of wallet count, and decent user activity.
VeChain probably won’t scratch that itch if you’re after explosive short-term gains. But if you’re looking for a long-term hold with strong utility, solid partnerships, and a price that’s deeply discounted compared to its 2021 peak, VET could be worth accumulating, mainly if the market rotates back into infrastructure and utility-driven narratives.
So, is VeChain a good investment? Well, for VET, we’re cautiously optimistic. VeChain isn’t a momentum play, but it could be a smart bet on utility if the crypto market matures past speculation.
Refer to our detailed VeChain ($VET) Price Prediction guide for more.
Top Wallets To Store VeChain
Before you invest, make sure you’re storing your VET safely. Here are a few solid wallet options:
- VeChain Official Wallets: VeWorld is the official wallet that acts as the gateway to all VeChain applications and focuses on mobile usability and web3 integration. Another one is Sync2, a desktop wallet for almost all platforms designed for interacting with VeChain dApps and browser-based tools.
- Best Wallet: This wallet has a clean UI and multi-chain support, built-in token swaps, and access to the best crypto presales, making it great for everyday users. Check our Best Wallet Review for more details.
- Atomic Wallet: A flexible non-custodial wallet that supports over 1,000 assets, including VET, with staking support and desktop/mobile access. Visit our detailed Atomic Wallet Review.
- Ledger Flex: Hardware wallet built for security-first users who want cold storage and compatibility with VeChain’s ecosystem tools. Refer to our Ledger Stax vs Flex Review.
- ELLIPAL: A fully air-gapped hardware wallet that keeps your private keys 100% offline, with a large screen for secure, transparent transaction signing. We suggest a glance at our Ellipal Titan 2.0 Wallet Review.
Want more options? Check out our full guide here: Top 10 Best Bitcoin & Crypto Wallets – July2025
VeChain’s Future: What To Expect?
VeChain is already known for bridging blockchain with the real-world supply chain, but what’s next? The answer lies in its “Renaissance 2025” vision, a forward-looking roadmap that sets the tone for the project’s future. While many blockchains focus on buzzwords and hype, VeChain is leaning toward enterprise-grade use, sustainability, and actual utility.
VeChain’s Renaissance 2025 Roadmap
- VeBetterDAO – a sustainability-focused, community-powered ecosystem rewarding real-world impact via decentralized apps.
- Protocol Upgrades (Galactica & Hayabusa) – updates include tokenomics tweaks, dynamic fees, EVM compatibility, and stronger staking rewards.
- VeWorld – a hub app designed to bring token use and ecosystem tools under one roof.
Development is already underway. VeBetterDAO is live, the marketplace-as-a-service is active, and ecosystem tools continue to roll out.
The key test now is execution. If governance tools, developer support, and enterprise projects all launch smoothly, VeChain has a strong shot at standing out among enterprise blockchains. But deadlines matter. If projects slip or broader crypto trends shift downward, momentum could stall.
Conclusion: What is VeChain (VET)?
VeChain is designed with a clear purpose: to bring reliability and accountability to industries that depend on accurate data and traceable systems. It does not seek attention through speculation or trends. Instead, it focuses on delivering long-term solutions through technology that works.
The path forward depends on adoption. If more businesses choose blockchain tools for transparency, compliance, and efficiency, VeChain is well-positioned to serve that demand. Its foundation is already in place, real partnerships, working infrastructure, and a model that prioritizes stability.
What happens next will depend on continued execution and market readiness. But among blockchain platforms built for real-world use, VeChain stands out for doing exactly what it was built to do.
Refer to our analysis on the best RWA cryptos to see which other real-world projects are likely to boom.
See Also:
References
- Investopedia. “Blockchain-as-a-Service (BaaS).” Investopedia, https://www.investopedia.com/terms/b/blockchainasaservice-baas.asp.
- Kraken. “What Is a Blockchain Gas Fee?” Kraken, https://www.kraken.com/learn/what-is-a-blockchain-gas-fee.
- ScienceDirect. “Proof of Authority.” ScienceDirect, https://www.sciencedirect.com/topics/computer-science/proof-of-authority.
- Stack. “VeChain.” Stack, https://stack.money/asset/vechain.
- Cryptometheus. “VeChain (VET) Project Overview.” Cryptometheus, https://cryptometheus.com/project/VET.
- VeChainStats. “VeChain Blockchain Explorer.” VeChainStats, https://vechainstats.com/.
- VeChainStats. “VeChain Accounts.” VeChainStats, https://vechainstats.com/accounts/.
- VeChainStats. “VeChain Rich List.” VeChainStats, https://vechainstats.com/rich-list/.
FAQs
What is the use case of VeChain?
VeChain helps businesses track products in real time, proving where things came from and if they’re genuine.
What is the VET token used for?
VET holds value on the network, and just by holding it, you earn VTHO to pay for transactions.
What makes VeChain different from other blockchains?
It’s built for real-world use, with two tokens and trusted validators to keep things fast, cheap, and secure.
Is VeChain a public or private blockchain?
It’s public, you can see everything on-chain, but only verified entities can validate blocks.
Can I stake VET?
Yes, just hold VET in your wallet and it automatically generates VTHO rewards over time.
Is VeChain open-source?
Yes, VeChainThor’s code is public and available on GitHub for anyone to view or build on.
Can VeChain be used for NFTs?
Definitely. VeChain has its own NFT platforms and supports minting, trading, and even staking NFTs.
What is VeChain used for?
VeChain is used to track products and data. VeChain real-world applications include verifying goods, tracking shipments, and monitoring carbon output.
Which companies use VeChain?
BMW, Walmart China, DNV, and PwC. These are also some of the biggest VeChain partnerships to date.
What’s the difference between VET and VTHO?
The difference between VET and VTHO is that VET holds value, while VTHO is used to pay for transactions.
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