Still, at this time it’s too early to tell.ĭespite the fact that 100% accurate technical analysis for VeThor Token cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated VTHO buy-and-sell rating for selected timeframe. Since then, its price has mostly been in decline, although the mid-June movement may hint at a possible trend reversal after hitting ~$0.004. As a result, VTHO price soared in April 2021 (like many others), almost reaching $0.03. Note that VeChain made its two-token system specifically to protect VTHO price from market volatility, but it didn’t quite work in the face of the overwhelming wave of interest to all things crypto in early 2021. During that time it’s been relatively unknown, especially to the Western public, quietly building its ecosystem and partnerships, some of which seem quite significant, like a COVID-19 risk management system or Walmart China food traceability solution. Later the price has corrected, dropping below $0.001 by November of the same year, where it had stayed until early 2021 (with a few small exceptions). When VeChain introduced VTHO to the market in the summer of 2018, there was a short-lived post-launch frenzy, when VTHO’s price jumped to $0.04. VTHO is consumable and burns after a few uses the good thing is it’s not mined, it just appears automatically in VET holders’ wallets. While actual economic activity in the network uses the VET token, VTHO is needed for transaction fees and to facilitate everything working correctly in general. VeChain uses Proof-of-Authority (PoA) consensus protocol which means the blocks are verified by a number of authorized, KYC-compliant master nodes. This facilitates trust between stakeholders, helps to avoid losses due to inefficient processes, eliminates corruption and generally simplifies supply chain management. Due to the blockchain technology’s tamper-proof nature, anyone who has access to the chain can verify the information stored there. This allows data gathered from sensors, RFID, etc.
The company’s geared towards enterprise clients, and its goal is to speed up businesses’ digital transformation by integrating blockchain and IoT into the supply chain management framework.
In 2018, VeChain moved to its blockchain and rebranded. VeChain, a foundation behind VeThor, was founded in China in 2015, though it was initially just a subsidiary of a larger blockchain platform Bitse. It’s one of the network’s two tokens: VTHO’s purpose is powering the network, while the other token - VET - is a means of transferring value. VeThor (VTHO) is a VIP-180 standard token (a unique standard based on ERC-20) used in the VeChainThor public blockchain.
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