Review on VeChain by Arun Kaul

Name: VeChain
Item: VeChain
Rating: 4

June 17, 2019

VeChain, the world's leading blockchain application platform driven by Enterprise Adoption.

If you have been around long enough in the crypto sphere, I am pretty sure you would’ve heard about the VeChain coin.
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Vechain  is a network that uses advanced technology aimed at providing solutions and innovation to data management and Internet of Things. Issues like counterfeit, fraud, data manipulation, fake assurance, and other barriers are something VeChain works towards rectifying. Except the VET coin, in the network you can use the VTHO (VeChain Thor) tokens, which are used to cover the transaction fees. 
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VeChain’s development started back in 2015 and the team worked on it for 2 years before doing an ICO. Initially it was launched as an ERC20 token and later on, it was moved to the native coin after the release of the mainnet. 
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The future of the project is very bright. With the recent development of Thor and goal for supporting dApps on the network, new and improved features are just piling up. The team is currently working on cross-chain transactions and expanding the Thor ecosystem to provide even more flexibility to the users. 
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VeChain is a semi-decentralized blockchain network that operates and confirms transaction through the Proof of Authority consensus method which is abided by 101 Authority nodes. It is similar to a Delegated Proof оf Stake (dPoS) network, but the nodes are being voted on by a set group of individuals who are in charge of keeping them in check and monitor their performance. 
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Pros

VeChain stands out as a great strength is the clear roadmap and direction of development for the project.
Quality Control – with an increased focus on quality, companies can reliably maintain high product standards in their supply chain
Hybrid Governance – it uses a semi-decentralized model with a decentralized system and centralized channels. This is to make sure that it is as efficient as possible

Cons

Vechain is the centralized governance. There is a Board of Steering committee that actually makes the network more centralized and private than others like Ethereum.
Fast growth – while not considered a real disadvantage, it can become one without proper guidance and a clear goal
Lack of complete decentralization – while yes, the system is efficient, it is not completely severed from third-party influence. The network relies on Proof of Authority and 101 nodes to do the heavy lifting