VeChain (VET)

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Last updated 19/07/2021

Official website: https://www.vechain.org/

What is VeChain (VET)?

The VeChain project began in June 2015 with a focus on building a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration and high-speed value transfer. VeChain specializes in blockchain and IoT technologies and has grown to be one of the first blockchain platforms with real-world business applications, implemented by highly regarded enterprises across numerous sectors internationally.

By providing vigorous and secure blockchain infrastructure, enterprise solutions, turnkey packages and development tools in both software and hardware, VeChain seeks to allow its business partners and developers to implement blockchain solutions for their business and also produce a powerful and sustainable ecosystem. They have an international professional team of over 100 staff members including over 50 professional blockchain application developers. VeChain is also vigorously working with some of the most prestigious universities worldwide in its blockchain R&D capacity, such as Tsinghua University, Stanford University, MIT, and the Oxford Mathematical Institute.

VeChain is Proof-of-Authority based meaning there is low computation power required to acheive network consensus and security, and hard forks can be avoided due to the built in smart contracts. All Authority Masternode Operator identites are strictly verified by the Foundation so improve security on the network. There are also meta-transaction features native to VeChainThor blockchain's core protocol, these include controllable transaction lifecycles, fee delegation, multi-task transactions (MTT) and transaction dependency.

Team

VeChain was founded in 2015 and is one of the older entities within the blockchain industry. It has offices in China, France, Singapore and Japan. VeChain first began as a subsidiary of BitSe, which is one of China’s largest blockchain companies.

The project is also supported by the VeChain Foundation. The foundation was established in Singapore in July 2017 as a non-profit organisation. The CEO, Sunny Lu, holds well over a decade’s worth of experience as an IT executive in Fortune 500 companies. Meanwhile, the CFO Jay Zhang has more than 14 years’ worth of experience as a senior manager with PwC and Deloitte. You can find more about the VeChain team here.

Roadmap

VeChain migrated onto its own blockchain from the Ethereum network and consequently rebranded itself in 2018. This included the VEN blockchain adapting into the VeChainThor (VET) blockchain in 2018. There are many documents here to help you find everything you need to know about VeChainThor. The preliminary target that they have established is to disrupt the supply chain industry and to do this, they will make all data within the network actionable and transparent. The blockchain also has ideas which involve having dApps and initial coin offerings (ICOs) on VeChain and the Internet of Things (IoT) platform.

Where to Store VeChain (VET)

The VeChain Foundation released its own official wallet to store VeChain and VeThor. The initial release of the VeChainThor wallet came in form of a mobile wallet app which aimed to provide a “powerful, secure, simple and fully functional portal to the VeChainThor blockchain”. The wallet can be downloaded for both iOS and Android devices.

There are also several third party wallets that can store VeChain (VET). These incude Guarda Wallet, Atomic Wallet, Trust Wallet and many more. We have helpful Wallet Guides available to help you set up and use various wallets. We recommend using Exodus to store VeChain as Exodus has a very user-friendly interface and supports most cryptocurrencies. Your VeChain wallet address can be prominently displayed within Exodus ensuring ease of use when sending and receiving this coin. The platform also presents a real time portfolio valuation and tracks the value of digital assets held.

We always recommend our customers to perform their due diligence and research into any platform they are looking to start using. You may find some general information regarding various wallets on our Wallet Guides page.

Where to Buy and Sell VeChain (VET)

You can Buy & Sell VeChain (VET) here at BC Bitcoin. You can Buy VET by heading over to the Buy Coins page of our website. VET is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying VET has never been easier, simply place your order and provide your wallet address. Once your payment arrives, VET will be sent directly to your wallet.

If you choose to Sell VeChain (VET), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

VeChain (VET) Resources

Website: https://www.vechain.org/

VeChain Documents: https://docs.vechain.org/

Block Explorer: https://explore.vechain.org/

Twitter: https://twitter.com/vechainofficial

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.