What Is Vechain?

Launched by Sunny Lu (formerly CIO of Louis Vuitton China) and Jay Zhang (of Deloitte and PriceWaterhouseCoopers) in 2016, VeChain (VET) is among the pioneers of blockchain-based supply-chain platforms. By tapping into the Internet of Things (IoT) and recording all transactions on a decentralized, encrypted, public ledger, VeChain aims to make supply chains- from the point of production to the point of consumption- transparent, traceable, efficient, and less expensive. Secured by a proof-of-stake algorithm as well as a proof of authority (involving masternode operators), VeChain issues two native tokens, VET and VTHO, in a system that is designed to stabilize the currency: VTHO is automatically generated through VET holdings, which are used to pay for transaction and other activities; then 70% of the VTHO is destroyed. The maximum supply of VET is 86,712,634,466 tokens, and the average block time is 10.3 seconds. See below for a full selection of markets where you can trade VET for other cryptocurrencies, US dollars, and other fiat currencies.