What is VET coin ? Supply, exchange rate and how to own Vechain

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What is VET coin – Although there have been many virtual currencies in the past time, but VET coin is still constantly developing and asserting its position in the crypto market. However, there is still a large part of investors who do not really understand this coin. If you too, you can refer to the following article!

Discover virtual currency VET coin

What is VET coin?

VeChain (VET) is a cryptocurrency on the blockchain platform VechainThor that is receiving a lot of attention. At the beginning, the developer applied Ethereum’s ERC-20 standard to create VeChain. However, after a successful Mainnet launch, on July 30, 2018, VeChain was officially swapped and moved to run on VechainThor’s blockchain platform.

Artwork: “What is VET coin?”

In addition to understanding coin VET You should also get more information about VeThor token (VTHO). This token is existing in parallel with VET coin and it was created after the successful implementation of Launching Mainnet. The function of VTHO is to charge “gas” in the VechainThor blockchain.

Highlights of VET coin

Coin VET is a cryptocurrency with many outstanding advantages. It is created for the purpose of Identity or VID tracking to track products. Those products can be written from QR codes, NFC tags or proprietary RFID chips.

The introduction of VID technology has brought many advantages to business. Specifically, manufacturers can easily integrate their real-life business into the VeChain platform, and consumers can through it get information about the products they are interested in, such as: Origin, shipping time, delivery, … Besides, VeChain is also applied in many other fields, such as logistics.

VET coin has a lot of highlights

In VeChain, there is also a PoA consensus protocol, ie Proof of Authority. This protocol is completely different from PoS and it brings more advantages, effectively serving commercial purposes. The introduction of the PoA protocol can help integrated networks easily scale without consuming too much energy during maintenance and operation. Currently, Facebook’s Libra is also using this protocol.

VET coin details

Name, supply, contract

VET coin belongs to the VechainThor blockchain and has a total supply of 86,712,634,466 coins. Of which, the circulating supply is 64.32 billion coins. The total supply of this cryptocurrency will be distributed proportionally as follows:

Release to the market via token sale: 41%

Private Investors: 9%Enterprise Investor: 23%Co-founders and development team: 5%Operation budget, technology development: 12%Business development: 10%

Since its launch, VET coin has conducted 3 rounds of fundraising through ICO, namely: Public Sale, Private Investors and Enterprise Investors. Specifically, how much VET token is sold, you can refer to the following table:

Basic information:

Ticker: VETBlockchain: VechainThorToken Standard: VIP180, VIP181Token type: CoinAvg. Transaction time: 10,000 TPSAvg. Block time: 10 seconds Total Supply: 86,712,634,466 VET

Current rate

Below is the exchange rate update at the time of writing VET coin According to Coinmarketcap page that you can refer to:

VET coin exchange rate at the moment

Note: The rate of VET coin at different times may be different. This rate depends on the volatility of the market which can increase or decrease.

How to own and trade VET coin

In 2017, a lot of people have earned VET coins through Bounty or Airdrop program. But now, both of these programs have ended. Moreover, VET coin cannot be mined like ETH or BTC, etc. Therefore, if you want to own this cryptocurrency, you can buy it on exchanges.

There are a lot of cryptocurrency exchanges listed coin VET. Prominent can be mentioned as Binance, LBank, Bitmart or OceanEx. On average, in 24 hours, the total trading volume of this cryptocurrency can reach 12 million dollars. Among the exchanges that have listed VET coin, OceanEX and Binance have the largest trading volume, reaching 42.1% and 29.9% respectively.

Although it is not possible to mine VET coins, you can still own VeThor Token (VTHO) through 2 ways:

Hold VET coin to receive VHO

Who is holding coin VET will be rewarded with VTHO at the rate of 0.000432 VTHO per VET per day. That is, if you hold 10,000 VET, you will receive 4.32 VTHO per day. The amount of VTHO will be distributed by the 5th of every month.

Thus, if you hold the amount of VET is 100,000, within 10 days you can get 10 x 4.32 x 10 = 432 VTHO.

Become a Validator of VechainThor

If you perform the transaction confirmation task, you can receive a reward of 30% of the VTHO collected from the transaction fees in the VechainThor network. This is not a small bonus percentage.

Roadmap and team of developers

Roadmap of VET coin

VET coin does not give accurate information about its Roadmap. However, after successfully launching Mainnet on 30/07/2018, VeChainThor will continue to fully deploy products such as:

Successfully developed token standards on its blockchain, which are VIP180 and VIP181Vetoolchain: Providing blockchain technology solutions for businesses in many fields VechainThor Wallet: Developing official storage wallets of VET and VTHO

Roadmap of VET coin

Team developer / backer of Vet coin

Development team

Participate in development VET coin It’s Sunny Lu. He used to hold the position of Information Director of the world’s leading fashion brand Louis Vuitton, China branch for a long time, and then co-founded BitSE.

Vechain coin development team

Besides Sunny Lu, there are also contributions from many names such as:

Richard Fu: Marketing Manager Chin Qian: Sales ManagerJay Zhang: CFO Scott Brisbin: Vechain Advisory Board MemberJerome Grilleres: Business Development

Partner

Among the partners of VET coin, there are many large and prominent enterprises such as: BIOS, LVMH, BMW, PwC, etc.

Vechain’s Partner

Investors

Investments for this project are all reputable and large-scale funds such as: PwC, Fenbushi Capital, Draper Dragon, etc.

Closing and Disclaimer

With the above sharing, we hope you have a better understanding of VET coin What is and how to be able to own this cryptocurrency. This is a virtual currency that is receiving many hopes in the future from investors.

Disclaimer: Our articles are for informational purposes only. We do not give any investment advice. Therefore, every investment result in VET coin We hereby refuse to accept responsibility. Before investing in virtual money, you should be careful and mentally prepared to take risks.

Currently, the Vietnamese state does not provide legal support for any electronic currency, you still have the right to mine and use it, however, when there is a dispute or conflict, the state has no obligation to assist in resolving these issues. this problem.