Review on VeChain by Sergio Daniel Delgado
Something about VeChain
Started in June 2015, VeChain is a business-focused blockchain platform that focuses on commercial applications related to supply chain management, including quality control, inventory and monitoring. It now has international offices in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco.
In simple terms, VeChain allows manufacturers to assign products with unique identifiers on the platform, allowing participants to track the movement and provenance of products in a supply chain.
From one point of view, the FoodGates blockchain platform can track the entire life cycle of a cow from the selection process to slaughter, packaging and shipping between continents to restaurants for meat products.
And all of this is powered by VeChain blockchain technology, which has also led to partnerships with many companies like Price Waterhouse Coopers, Jiangsu Electronics, Renault, and more.
Pros
- Crypto investors can also be confused with the 2 tokens offered by VeChain. Yes, it has two tokens that serve different functions
- VET transfers value across the network. In other words, decentralized app transactions occurring on the VeChain blockchain will use VET.
- The VTHO token stands for VeChainThor Energy (VTHO) used to drive transactions in VeChain and is equal to the cost of conducting transactions on your blockchain.
Cons
- None
