Market Cap
$3,900,974,079.0
Fully Diluted Valuation
$4,179,378,157.4
24 Hour Trading Vol
$112,209,826.0
Circulating Supply
80,985,041,177.0
Total Supply
85,985,041,177.0
Max Supply
86,712,634,466.0
VeChain Price
$0.048
24h Range
$0.045 - $0.049
Percent Change 1h
-0.63%
Percent Change 24h
6.31%
Percent Change 7d
6.37%
All-time high
$0.281
All-time low
$0.001917
1D
7D
1M
1Y
VeChain (VET) is a blockchain platform designed to enhance supply chain and business processes through the use of distributed ledger technology. Launched in 2015, VeChain aims to provide businesses with a secure, efficient, and transparent way to manage their supply chains and product lifecycle. The platform utilizes smart contracts and Internet of Things (IoT) technology to facilitate the exchange of data between devices and systems, allowing for real-time tracking, verification, and authentication of products. As of 2024, VeChain is recognized for its ability to streamline operations across various industries, including logistics, automotive, food safety, and luxury goods.
VeChain was founded by Sunny Lu, who has a background in information technology and has previously served as the Chief Information Officer (CIO) of Louis Vuitton China. He co-founded VeChain with the vision of creating a blockchain solution that addresses real-world business challenges. The founding team also includes other key figures such as Jay Zhang and Kevin Feng, who have contributed to VeChain's development and strategic partnerships. The project has garnered significant support from various organizations and continues to evolve under their leadership.
VeChain operates on a dual-token system comprising the VeChain Token (VET) and the VeChain Thor Energy (VTHO). VET is primarily used for value transfer, while VTHO is used to pay for transaction fees and smart contract execution on the VeChain Thor blockchain. The platform utilizes a unique consensus mechanism known as Proof of Authority (PoA), which allows for faster transaction speeds and lower energy consumption compared to traditional mining-based blockchains.
VeChain also incorporates IoT devices and sensors to collect and transmit data about products in the supply chain. This data is recorded on the blockchain, creating an immutable record that can be accessed by stakeholders, including manufacturers, retailers, and consumers. By leveraging blockchain technology, VeChain ensures the authenticity and traceability of products, reducing fraud and enhancing consumer confidence.
VeChain has established itself in various industries, with several notable use cases:
To keep your VeChain (VET) secure, consider following these best practices:
Investing in VeChain (VET) or any other cryptocurrency involves several steps:
1. Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.
2. Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.
3. Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.
4. Buy VeChain: Once your account is funded, you can purchase VeChain directly from the exchange. Choose the desired amount and complete the transaction.
Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in VeChain using Botsfolio, follow these steps:
Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.
VeChain (VET) is currently trading at $0.048 and exhibits good potential for future growth. Check the latest VeChain (VET) price prediction.
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