Review on VeThor Token by David Olayide
VeTHOR Token
VeThor (VTHO) is the secondary token of the VeChainThor ecosystem and functions as the gas for transactions. VTHO represents the underlying cost of using the VeChainThor blockchain and the token is consumed after certain blockchain operations are performed an example is gas payments. The amount of VTHO that will be needed for a transaction actually depends very much on the size of the data that is sent on the VeChainThor blockchain.
This project has some features which I’ve discovered, can be very attractive. These features are native to VeChain Thor blockchain’s core protocol, and they include, multi-party payment, multi-task transaction, controllable transaction lifecycle, transaction dependency, make the development more user-friendly for enterprise adoption. Users can set the time when transaction is processed or expired if not being included in a block.
Additionally, to achieve the network security and consensus integrity there is really no need for power consuming computation at all. The governance model of the project is largely transparent and this accounts for the rapid rate at which innovations can be made resulting in a consensus that is properly balanced and at the same time reflective of the stakeholders views.
VeThor Token is a VIP-180 Standard token, which is used to settle the cost for using the VeChainThor blockchain. Its primary aim is to facilitate processes and transactions on the blockchain, and it essentially represents the smart contract layer of the network. Maximum VET supply is 31,946,532,533 tokens. For security, the project is secured with the PoA consensus mechanism. Binance is a large and popular market that trades the VTHO token.
Pros
- VTHO is used as has fee to cover cost of transactions
- The VeTHOR features a lot of advantages and benefits
- Network is secured with the PoA consensus mechanism
Cons
- Low market value and influence
- Not popular enough to capture the general market attention
