VeChain

VeChain (VET) is a blockchain platform launched in 2018 that focuses on supply chain management and business processes. It enables companies to track products throughout their lifecycle, using tamper-proof data recording to improve transparency and efficiency. VeChain uses a two-token model, with VET serving as the main value-carrying token for enterprise transactions.

VeChain uses a Proof of Authority consensus mechanism, where vetted authority nodes validate transactions, offering high throughput and low energy consumption. The network includes a two-token system: VET for value transfer and VTHO for transaction fees, separating cost from value. This design supports enterprise applications by providing predictable costs and scalable performance.

VET is the primary token of the VeChain network, used for transferring value and as a basis for smart contract operations. Holding VET generates VTHO, which is required to pay for transaction fees on the network. It also enables token holders to participate in governance decisions, influencing the platform's evolution.

VeChain (VET) distinguishes itself by focusing on real-world business integrations, particularly in supply chain management, with a permissioned validator system. Unlike public proof-of-work blockchains, VeChain's Proof of Authority allows for faster, energy-efficient transactions. Its two-token model also provides cost stability for businesses, separating the speculative value token (VET) from the utility fee token (VTHO).

VeChain is currently priced at $0.007381, down 6.77% in the last 24 hours. It is ranked #84 by market capitalization. Over the past 7 days, VET is down 15.07%.

VeChain has a market capitalization of $634.66M. The 24-hour trading volume is $18.47M, reflecting the total value of VET traded across all exchanges in the last day.

There are currently 85.99B VET in circulation. VeChain has a maximum supply of 86.71B VET, meaning no more than this amount will ever exist.