VeChain is a blockchain platform that implements distributed registries to reduce entry barriers, is compatible with smart contracts and is designed to improve the supply chain and accelerate the mass adoption of blockchain technology. Using the functions of meta transactions, the method of consensus with confirmation of authority (PoA), the management mechanism in the blockchain and a unique system with two tokens, the VeChainThor blockchain hopes to solve the problem of launching large-scale commercial decentralized applications (dApps).

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VeChain

VeThor token is a VIP-180 token, is the cost of using the VeChainThor blockchain and essentially represents the level of smart contracts on the network. Its main goal is to facilitate processes and transactions in the blockchain. VTHO is an integral part of VeChainThor's work.

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VeThor Token

Vitalik Buterin: The cost of sending Eth and swapping tokens needs to be below $0,05 to be truly acceptable

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Agreed - #Blockchain must be cost competitive with other kinds of communication protocol which is why we built our two-token model $VET & $VTHO, to allow transaction fees to be kept low/stable. POA provides the throughput to avoid congestion & soon, we'll add finality. #VeChain https://t.co/MgBRB4GbSp
— VeChain Foundation (@vechainofficial) May 3, 2022