• VeChain (VET) is a cryptocurrency and blockchain platform that was launched in 2015 and designed to provide supply chain solutions.
• VET is currently trading at $0.020, with a market capitalization of $1.7 billion, and ranked 37th on the price charts.
• VeChain recently announced their biggest mainnet hard fork ready for deployment and is actively involved in UFC 280 as part of its multi-year deal with UFC.
Introduction
VeChain (VET) is a cryptocurrency and blockchain platform that was launched in 2015. It is designed to provide supply chain solutions and has gained significant adoption in a variety of industries. The altcoin’s market capitalization was as high as $1.7 billion, with the crypto ranked 37th on the price charts.
VeChainThor Blockchain
The VeChainThor blockchain operates with two tokens, VET, the primary token used for storing and transferring value, and VTHO, used for transaction fees. The separation of the two tokens helps ensure a stable price for the token used for transaction fees. VeChain raised funds through an initial coin offering (ICO) in 2017 and since its launch has grown to become a leading platform for supply chain management solutions.
Mainnet Hard Fork
The firm recently announced VeChainThor’s most significant mainnet hard fork ready for deployment following the successful vote on VIP-220 dubbed the ‚Finality with one Bit‘. This milestone upgrade will bring the final phase of VeChain’s proof of authority 2.0 and is expected to take place on 17 November.
Multi-Year Deal With UFC
VeChain was actively involved in UFC 280, which took place on 22 October, as part of its $100 million multi-year deal with UFC which was announced earlier this year in June. Additionally, VeChain is mulling over a significant Proof of Authority upgrade which will integrate VIP-220 with the VeChain Thor Mainnet if approved by all stakeholders‘ votes..
Conclusion
VeChian remains one of the most popular platforms among businesses looking to streamline their supply chains due to its focus on security and transparency along with cutting edge technology it uses to facilitate transactions securely across various industries such as healthcare, agriculture etc