5.71%

Market Change

$2 555 543 247 499.44

Total Market Cap

$235 213 443 812.03

Total Volume

18113

Cryptocurrencies

66 GWEI

67 GWEI

67 GWEI

Ethereum gas price

45.36%

BTC Dominance


VeChain (VET)
VeChain

VET 3.68%

24h Change

$7 673 204 841.48

Market Cap

$628 650 804.22

24h Volume

$0.1194

Current Price

Tech Specs

Last historical data: 2021-01-22T08:14:02.000Z

Decimal places: 0

Algorithm: VeChainThor Authority

Prooftype: Proof of Authority

Country origin: CN

Genesis date: 2017-08-15

Liquidity score: 61.985

Publi interest score: 24.091

Community score: 49.104

Developer score: 76.986

Coingecko score: 61.322

Market cap rank: 32

Coingecko rank: 21

Alexa rank: 281766

Bing matches: 30900

VeChain (VET)

VeChain is a blockchain-enabled platform that is designed to enhance supply chain management processes.

By utilizing tamper-proof and distributed ledger technology, VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought.

From product source materials, to servicing history, and spare part replacements, every single piece of information about the supply chain movement of a product can be recorded and verified to bring about a supply chain management ecosystem that is secure for all participants.

VeChain plans to achieve this secure supply chain management ecosystem via the method of asset digitization.

VeChain enables manufactures to assign products with unique identities to the platform.

This will allow manufacturers, supply chain partners, and even consumers, to track the movement of products through their supply chain. There is also the VeChain Foundation.

The Vechain Foundation is a non - profit entity established in Singapore in July 2017 and is responsible for the construction of the network, and technological research and development.

The Foundation also plays an important role in business development.

The Foundation encourages and supports partnerships with enterprises that may be interested in utilizing blockchain technology as a service.

This includes payment services, private key management, smart contract development, and wallet development.

There is no doubt that blockchain technology can be an important innovation to supply chain management.

With a growing list of business partnerships and technological developments, VeChain is positioning itself to be THE disruptive, and innovative force that reshapes the way we think about supply chain management. The solution of "hard forking" has made people question the idea of "de-centering" of Ethereum and even Blockchain.

This way of governance is not so much a "democracy" as an "anarchy." VeChain development team highly regards blockchain’s decentralizing nature, yet intends to adopt some traditional corporate governance and thus improve the efficient formulation and implementation of the VeChain development and strategy for the benefit of the community to prevent and avoid serious blockchain design philosophy differences and irreconcilability. Sunny Lu is the CEO of the VeChain Foundation and has already become an important figure in the blockchain space.

Before he established VeChain, he co-founded the Chinese Internet start-up which developed Qtum, a very important digital asset in the crypto space.

He was previously the CIO and COO of Louis Vuitton China.The team behind VeChain consists of over 90+ employees, most of them being developers.

Chief Technology Officer, Gu Jianliang, has over 18 years of experience in areas such as mobile devices and the IoT field, and has created over a 100 patents in several technological fields.

Kevin Feng serves as the Chief Operations Officer of the VeChain Foundation.

Feng has been actively involved in many technology projects in his 12 years working for VeChain’s partner, PWC, as a consultant and assurance advisor.

Vechain is a blockchain platform focused on creating an ecosystem which can be used by enterprises for products and information.

The ecosystem enables transparency and symmetrical information.

The VeChain token is called VET and serves as fuel in the VeChain platform.