VeChain is a cryptocurrency platform designed to enhance supply chain management processes. The VeChain platform aims to connect technologies such as NFC, RFID, QR codes, and barcodes with products so the items can be tracked to prevent counterfeiting.
One of the first partnerships obtained by the Singapore-based company behind VeChain was with D.I.G, China’s largest fine wine importer, which was trying to prevent counterfeit wines from reaching its shelves. Ownership of the wines would be determined based on private keys. The bottle’s ID would be scanned each step of the way in the supply chain to ensure its authenticity.
The VeChain team is already working on expanding the platform capabilities so the platform can become a full “programmable blockchain,” much likeEthereum. There will also be a rebrand from VeChain (VEN) to VeChain Thor (VET), as well as a newThor coin, which will be used to execute the “smart contracts” running on top of VeChain Thor.
Max Supply: 86,712,634,466
Circulating Supply: 55,454,734,800
Total Supply: 55,454,734,800
Cryptographic Algorithm: VeChain Thor Authority
Issue Date : 2018-06-30
Source Code: 2018-06-30
Issue Price: $0.022500
White Paper: https://resource.bnbstatic.com/books/20180529/1527572058244.pdf
Consensus Protocol: Proof of Authority
Website: Proof of Authority
Explorer 1: https://explore.veforge.com/
Explorer 2: https://explorer.vtho.net/
Explorer 3: https://trivial.co/t/0xd850942ef8811f2a866692a623011bde52a462c1