VeChain (VET)

The exchange rate of one VET at 14:01 UTC is 0.03453$

Chart | Average rate

“VeChain” is a real-life business model-focused crypto platform to help large companies get rid of confusing logistics reports with a single decentralized ledger. That is, now there will be no need to hire a huge number of workers and synchronize various programs to ensure reliable delivery and tracking of goods in transit. This opportunity appeared due to the use of RFID identifiers and QR codes on the packages of various products in the VeChain infrastructure, with the help of which data is transmitted to the blockchain without the possibility of its further change.

According to the project management, such a scheme can be used, for example, by pharmaceutical organizations during the delivery of specialized medicines with the need to comply with a certain temperature regime during transportation, as well as in many other areas of the economy and trade.

At the same time, VeChain already cooperates with many large companies, for example, with “DNV GL Winery”, which uses RFID to identify alcohol products, about which the buyer can get comprehensive information using the original mobile application. Similar partnerships have been forged with “PwC DIG”, an accounting firm that tracks alcohol supply chains in China, as well as with “Kuehne & Nagel”, BMW, Samsung, and many others.

In addition, the main element of the infrastructure of this cryptosystem is a high-tech proprietary blockchain called “VeChainThor”, which includes the following important components:

- “VeVID”, providing synchronization of the ledger with identifiers

- “Nodes”, large nodes of the crypto network through which the confirmation of transactions passes (namely validators and masternodes)

- “ThorWallet”, the main cryptocurrency wallet for storing VET and interacting with other DApps

Now the VeChain project is in the TOP-30 according to CoinMarketCap with a market capitalization of about $9 billion. Meanwhile, almost any major crypto exchange can be used to exchange VET coins, including KuCoin, Bitfinex, Binance, WazirX, Bittrex, Gate.io, Crypto.com, Huobi, LBank, Upbit, etc.

In conclusion, it is worth noting that this platform has great prospects, but only in the case of widespread introduction into large trading ecosystems.