$VET VET Coin, full name VeChain Token

• Definition and Function:

• VET Coin is the native token of the VeChain ecosystem, issued on August 18, 2017, with a total supply of 1 billion, released all at once.

• VET Coin serves as the value layer for the transmission of value on the VeChain blockchain, meaning that decentralized application transactions occurring on the VeChain blockchain will use VET.

• VET Coin and VTHO Coin together form VeChain's dual-token mechanism, where VTHO Coin is similar to GAS in Ethereum, used to pay transaction fees.

• Technical Features:

• VeChainThor adopts a unique dual-layer consensus mechanism, including "Authority Witness Nodes" and "Economic Nodes," balancing decentralization and efficiency.

• Transactions require the consumption of energy points (THOR), a design aimed at preventing malicious attacks and ensuring reasonable allocation of network resources.

• VeChainThor has strong IoT integration capabilities, achieving seamless connectivity between physical assets and the digital world through the integration of NFC/RFID chip technologies.

• Cross-chain interoperability, enabling interaction of assets and data with other mainstream blockchains like Ethereum and Binance Smart Chain.

• Application Scenarios:

• Supply Chain Management: VeChain can help enterprises achieve transparent management of the supply chain, improving efficiency and reducing costs.

• Internet of Things: VeChain uses IoT devices to achieve real-time data collection and on-chain integration of physical world data, providing data support for IoT applications.

• Finance: VeChain can offer safe and efficient payment and settlement services for the financial industry, reducing transaction costs.

• Property Rights Trading: The VeChain platform can realize the digitization of property rights, lowering transaction thresholds and improving transaction efficiency.

• Identity Authentication: VeChain can provide users with secure and reliable identity authentication services, applicable in multiple fields such as government, healthcare, and education.

• Market Performance:

• As of November 29, 2024, VET Coin's market performance has been relatively stable. Although the cryptocurrency market is highly volatile, VET Coin, with its unique application scenarios and technological advantages, has gradually gained a certain level of recognition and influence in the market.

• Development Prospects:

• VeChain's vision is to use blockchain technology to construct a trusted distributed business ecosystem that can both self-cycle and expand outward.