VeChainThor (VET), which is known as a platform related to IoT capable of product tracking and genuineness verification.
With partnership with the Chinese government, attention is very high.
This page summarizes the features, prospects and handling exchanges of such VeChainThor .
By reading this we can see what kind of project VeChainThor is and how it will be useful to the world.
Let’s briefly outline the cryptocurrency VeChainThor (VET)
Overview of VeChainThor
Detailed description of the features of VeChainThor (VET)
VeChain is a block chain IoT solution .
It also has the role of platform, you can make dApps and implement ICO on VET.
Through this platform, VET is aiming for ” achieving a highly reliable IoT ecosystem (economic zone) “.
- What is IoT solution
- It is easy to understand as a technology to disseminate and realize IoT (the Internet of things).
Those who feel that it is a bit difficult to understand what VET is trying to figure out even if you skip to “VET’s potential, possibility and usage”.
DApps / ICO platform for enterprises that can track product and acquire terminal information with IoT
VET communicates with mono by QR code, NFC (like IC chip), RFID (communication by radio).
You can create dApps on VET that can track and manage “Mono” information in which this IoT device is embedded.
It is planned to be able to manage authenticity appraisal, product tracking, inventory management etc of brand goods well known in VET with dApps on VET .
- Areas for which IoT will advance in VET
- Automobiles · Medical & Healthcare · Cold chain Logistics · Liquor · Agriculture etc.
There is VeThor which plays the role of GAS in the network
VeChainThor has two kinds of tokens (VET · VeThor).
Of these, VeThor has a role like a currency used within the network of VeChainThor, it is essential for VET interaction, real contract of smart contract, etc.
It is no problem to think that it is the same as the role of GAS in NEO.
- If you have a lot of VET, VeThor will be automatically granted. A lot of possessions are granted, similar to NEO · GAS in that rates are not fixed.
A node is established if it holds 1,000,000 VET or more
One feature is that VET is the “master node brand” where the master node can be set up.
There are roughly three types of master nodes.
Types of VET master nodes
|Authority master node||Recommendations & votes by the VeChain Foundation|
|Economic master node||Hold over 1,000,000 VET|
|X node||Early participant benefits (Deadline for March 20, 2018)|
Economic master nodes can participate by anyone among them.
In addition, classes are divided according to the number of possession even among economic master nodes.
Economic node and token holding number
|type||Number of VET Holdings|
|Strength node||1,000,000 to 4,999,999|
|Thunder node||5,000,000 to 14,999,999|
|Mujoronia node||15 million|
The higher classes are getting bigger benefits.
I have a partnership with the Chinese government
VeChain has a high degree of attention because there is a great partnership with Gui’an of China (Special Economic Zone directly under the Chinese government) .
In Gui’an, there is already a system provided by VeChain that is being tested to manage electronic government systems and business registration, certificates, related documents such as banks etc in the business.
There are already many partners and partnerships with famous places
VeChain is one of the reasons for high anticipation of having partnerships with one of the world’s leading companies.
DNV GL (world’s largest certification service company), PwC (global consulting company), NRCC (China’s largest consulting company), BitOcean (Japanese startup), etc. are listed as strategic partners.
In order to extend the technology of VeChain to the world, not only technology development but also you can see that we are working on the basic strategy and licensing from the base as well.
【VeChainThor (VET) Future Potential · Potential】 How to use · Explain the use case
I will explain how VeChainThor will influence the world with reference to case examples.
Here we will focus on what kind of problems VeChainThor will solve rather than technical matters.
IoT can authenticate appraisal of brand goods and track products
With VET’s IoT × block chain technology , you will be able to authenticate appraisal of brand goods and product tracking.
Embed information in objects and manage them with dApps.
Many things will be possible if this can be done.
- I know that the brand name is fake or genuine. High reliability as block chain management
- Risks of embedded devices can be expressed numerically (used for insurance risk estimation, etc.)
- Food Production ~ Shipment ~ We understand all processes of sale
Depending on the function of dApps you can see various data on things.
Unified management of KYC with VeChainThor (VeVid)
Once KYC is finished with the system called VeVid , you do not have to do KYC again on VET.
Because VET manages various data, it is essential to maintain its reliability.
This makes it easier for companies to manage even large amounts of data .
Vote on VeChainThor (VeVOT)
By using the system called VeVOT, you can easily vote.
It is originally a system created for selection of authority nodes, but it is also planned as a function in dApps.
In addition to government and administration, voting in various organizations such as the executive board can be assumed.
Let’s check the roadmap of VeChainThor (VET)
The roadmap of VeChainThor is dispensed with a short span.
If there is an update we will also correspond here so please check regularly.
Short-term road map released on Twitter (2018 Q2)
The VeChainThor Blockchain is days away from being unleashed. Please review the following timeline and be prepared to witness Blockchain X! Pic.twitter.com/kxlQkcc 6 PI
– VeChain Foundation (@ vechainofficial) June 21, 2018
Short term VeChainThor roadmap published on Twitter.
|June 30|| Authority master node started operation |
The first block of VET is generated
Snap & X node pauses on ETH
|July 9|| Dedicated mobile willet release |
Start X node construction
|Mid-July||Exchange token swap|
|Late July||General token swap|
|Aug. 1||Restart X node operation|
|August||VEN-VET ledger integration|
From the end of June 2018 to the end of August, the movement to the main net (VeChain on ETH → VeChainThor) will be active.
The X node application has been closed, but since you can set up an economic node at any time, let ‘s keep a close eye on those who want to collect it.
Medium-term road map of white paper (until Q4 of 2018)
This is a longer-term roadmap than published on Twitter.
|2018 Q2||VeChainThor block chain (main net) launch|
|2018 Q4||Construction of economic sphere on VET|
The details of the 2018 Q2 plan correspond to the short-term road map that we wanted to be published on Twitter earlier.
And in 2018 Q4 we plan to expand business use.
We will introduce a cross chain / side chain solution and develop more flexibly to meet the needs of customers.
What is the advantage of VeChainThor (VET)? Compared with similar projects
If you understand about VeChainThor, let’s also check about competing projects and companies.
Compete with IBM’s IoT solution “Watson”
One of the biggest competitors of VeChainThor is Watson, a global IT company, IBM.
Watson is a project to make platform of block chain technology × IoT advanced by IBM.
If you also check on partners and use cases, I think you can understand how strong competition is.
One of the merits of VeChainThor is that it can build an economic zone in addition to the platform, there is a boost from the Chinese government.
For the Chinese market VeChainThor may be slightly advantageous.
- A little technical story
- The block chain on which Watson’s data carries is IBM ‘s public chain. VeChainThor is also different in that it is a network in which various institutions, investors and individuals participate.
Difference from Walton
Walton (WTC) is a project from Korea, characterized by having a patent on IoT technology with RFID tag.
VET uses authentication technologies (RFID tags and NFCs) manufactured externally, but WTC uses its own one.
In this regard, the evaluation that Walton is taking a bit of technical skill is more frequent.
However, VeChainThor is more valued for partnership and marketing .
Partnership with large companies such as PwC and DNV GL, affiliation with Gui’an special economic zone in China, the fact that VET is higher in market capitalization is also convinced that VET is more valued in tie-ups and advertisements is not it.
- A little technical story
- Because VET interacts with authenticator via API, single point of failure arises. On the other hand, WQTC adopts its own RFID tag, so API is unnecessary. Some people evaluate that WTC is more reliable in this respect.
Opinion · Tweet summary to VeChainThor (VET)
DB Schenker is a company involved in the logistics of the New Silk Road in China and Europe, so it is amazing to use vechain’s system there.
I think that Vechain will grow rapidly with the plan of the whole of China in the future.
DB Schenker reference news: https: //t.co/oSyl2T29az
– Miyachi (@ jumpingmiwi) June 12, 2018
Recently Vechain’s momentum seems to be amazing. .
The market capitalization top 10 entering may also enter soon
– x Virtual Minister idsr (@ NrSruwwgcHANHLN) June 20, 2018
Vechain has to fight with Oracle, Alibaba, etc, but can we survive?
– Shinobu @ Bitcoin Cash & Digibyte (@ sinobu_curecoin) June 26, 2018
#VeChain $ VEN uses the latest tip RFID tag to record the trace information of the product in blockchain, analyze forgery prevention, product safety management, consumer orientation and so on. Using heat mapping and AI, there is a possibility that it will be adopted in China’s state-of-the-art supermarket. I hope you do your best. The level is different from Japan. https://t.co/6MdhqMR1DT
– Toru Kazama🎾 (@ leonhard_en) June 7, 2018
SAFE Haven @ Safe Havenio will also implement ICO at VeChainThor Blockchain. Asset management system
Do you already have 4 projects to implement ICO on VeChainThor?
Plair @ plair_life
MustangChain @ MustangChain
OceanEx @ Oceanex Official
– Arata / cryptocurrency Shibuya system IT Riemann (@ cry_curr_ar) June 24, 2018
A list of exchanges that VeChainThor (VEN) can purchase! Recommended is Lbank!
List of exchanges of VET
It is a list of exchanges dealing with VET.
According to Coinmarketcap data, most of VET transactions are traded against BTC.
The largest transaction volume as of June 2018 is VET / BTC in LBank.
Since trading is easier to trade in areas with higher transaction volume, let’s use the highest trading exchange as much as possible.
If it is LBank, Binance, Huobi, you can trade without problems.
VeChainThor (VET) Project Summary
I summarized VeChainThor (VET) .
There is real demand that VeChainThor is trying to do, so if the project goes smoothly … the expectation is high.
Also, we are paying attention to strong background such as partnership with Chinese government and strategic partner such as PwC.
If you would like to learn more about VeChainThor, please also join the official website, whitepapers, official Telegrams.
CRYPTO TIMES also co-hosts Meetup of VeChainThor, so if you are interested please join us as well.
Author: Satchan 【Coin Desk News】 – Source Post: https://crypto-times.jp/vet/
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