$VET VET coin

• Issuance and history: VET coin was issued on August 18, 2017, with a total supply of 1 billion, released at one time. VeChain project was launched in June 2015, and is committed to creating a trusted distributed business ecosystem with transparent information, efficient collaboration, and high-speed value transmission.

• Technical features:

• High efficiency: The VeChain platform adopts the Proof of Authority (PoA) consensus mechanism, which has faster transaction confirmation speed and higher network performance.

• Low cost: The transaction fee of VET coin is relatively low, and users can save a lot of costs when conducting transactions.

• Cross-chain technology: The VeChain platform supports cross-chain technology, which can realize data and value transmission between different blockchain systems.

• Industry solutions: VeChain provides a complete set of blockchain solutions for various industries, including supply chain management, anti-counterfeiting traceability, data security and other fields.

• Application scenarios:

• Supply chain management: Through the VeChain platform, enterprises can achieve transparent management of the supply chain, improve operational efficiency and reduce costs.

• Anti-counterfeiting traceability: VET coins can be used to track the production, circulation, sales and other links of goods to ensure the authenticity and quality of goods.

• Data security: The VeChain platform provides data encryption, storage and transmission services to ensure the security and privacy of user data.

• Identity verification: VET coins can be used as identity verification credentials and applied to finance, medical care, education and other fields.

• Decentralized application (DApp) development: Developers can develop various decentralized applications on the VeChain platform to provide users with more convenient blockchain services.

• Dual token mechanism: VeChain adopts a dual token mechanism, with two cryptocurrencies, VET coins and VTHO coins. The role played by VTHO coins in VeChain is similar to that of NEO's GAS, which is a reward for holding VET coins.

• Circulation: The maximum fixed supply of VET is 86,712,634,466 tokens, of which more than 70% of the total tokens are sold to the community, enterprises and users.

• Development prospects: VET coins closely focus on the needs of various industries, provide practical blockchain solutions, and have high practical value. VeChain Foundation actively promotes ecological construction, establishes cooperative relationships with many companies, and continuously expands the application scenarios of VET coins.