VeChainVET
Overview
What is VeChain?
VeChain is an enterprise-focused Layer 1 blockchain founded in 2015 that provides fast, low-cost, and energy-efficient transactions on the VeChainThor network. It supports EVM-compatible smart contracts and has established partnerships with major organizations including Walmart, UFC, and BCG for supply chain, sustainability, and real-world asset applications.
How does VeChain work?
Users deploy smart contracts on the VeChainThor blockchain, which uses Proof of Authority consensus for fast, low-cost transactions. The dual-token model separates governance (VET) from gas (VTHO), while the 2024 Renaissance upgrade added EVM compatibility and dynamic gas fees.
Who governs VeChain?
Enterprises and developers seeking a sustainable, enterprise-grade blockchain for supply chain tracking, carbon management, and tokenized real-world applications.
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