What is VeChain? VeChain is the world’s leading blockchain platform offering Blockchain-as-a-Service to enterprises for products andShow more [+] information.
By leveraging on blockchain technology, VeChain strives to build a trust-free and distributed business ecosystem, which is self-circulating and scalable.
The VeChain token used in VeChain platform is called VET. VET is likened to the fuel or the blood which supports VeChain’s distributed platform. All participants must use VET to get products and services.
The VeChain foundation (hereinafter referred to as the foundation) is a non - profit entity established in Singapore in July 2017. The foundation will act as VeChain sponsor entity, committed to VeChain’s development, construction and governance, transparency, advocacy and promotion work, and promote the safety and harmonious development of open source communities.
With reference to the experience of corporate governance structure, the foundation will set up functional Committees, including the strategic decision-making Committee, the technical audit Committee, the remuneration and Nomination Committee and the public relations Committee.
Why would Crypto investors rather invest in other Shit coins?
I have an honest question that I simply don't understand the answer to?
Sure, I am a VeChain maximalist so "To a hammer everything looks like a nail", i.e.: I see VeChain everywhere I look (reddit, twitter, google, web sites) as I am so deeply involved in the project. Yet, I wonder is that the same case with TRON holders? or Eth holders? or IOTA holders? etc...
To me the writing is on the wall, VeChain is the ONLY legitimate crypto in the entire space, yes the ONLY one. Yet right now we are only holding about 0.5% of market dominance. So I really wonder, what do the rest of the crypto holders think? I mean, this reddit is the 3rd most popular crypto reddit, so that's evidence that there is a large community behind VeChain and it is NOT a secret as many in the space are fully aware that VeChain is very legitimate investment and its huge potential; yet if you look at our market cap (0.5%) and price (0.014c) we are "just another coin". Am I missing something?
TL;DR, pricewise and total market domination we are just another coin, but as far as community and total holders (32k+) we are very large and very active, so the two simply don't match up...!
I took a look a the recent activity on the network, and the average VTHO spent per clause (aka transaction) is about 32.5. That’s quite a bit higher than the minimum possible, but reflects the higher cost of writing data to the chain than just moving VET around.
The total amount of VTHO generated per day on the network is 37,459,858 (from the white paper). With an average tx cost of 32.5 VTHO, the current generation rate can supply enough VTHO for about 1,150,000 tx/day, 133 tx/block or 13 tps.
I realize that 1M transactions per day is not going to happen tomorrow. When it does happen (or sometime before) the foundation will be forced to increase the generation rate and VET will become intrinsicly more valuable instantly. This won’t happen by surprise, speculators will be pricing in the valuation bump as they watch the VTHO burn rate approach the total generation rate.
I have no idea when this will happen, but it will probably be a major FOMO event when it does.
Edit: I forgot to account for the 30% that stays in circulation. By my calculations you'd have to spend roughly 53.5M VTHO per day to exhaust all the tokens generated. Using that number we're looking at more like 1.6M transactions to consume all the VTHO.