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πΊ Earlier VeChain Video π
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– TIMESTAMPS –
0:00 Intro
2:04 What’s VeChain?
5:38 Why It’s Wanted
9:38 The VET Token
12:33 VTHO & Blockchain Use
15:15 Current Collaborations
18:40 Conclusion
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π° Sources π°
βΊ Web site 1:
βΊ Web site 2:
βΊ Coin Telegraph Paper:
βΊ Vechain Staking Exodus:
βΊ MyCare Announcement:
βΊ Viking Line MyCare:
βΊ Partnerships:
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π€ What’s Vechain π€
It’s a “Blockchain as a service” firm that has provide chain administration options for enterprise purchasers. It brings IoT infrastructure and blockchain expertise collectively to assist corporations higher perceive the whole items provide chain.
Items may have digital tags equivalent to QR codes that may allow them to be tracked all through the whole provide chain course of. Nevertheless, this monitoring shall be positioned on the blockchain. This can be a twin token ecosystem that has the native VET token in addition to the VeThor Token.
The VET token is the first retailer of worth on the VeChain blockchain. It’s a programmable Token that acts as a provider of worth and used for transfers between totally different enterprise actions on the platform.
The VTHO tokens are decrease stage tokens which might be used with a purpose to pay for transactions and execute good contracts. Mainly, if you wish to write any information to the Vechain blockchain you need to pay with VTHO. These VTHO are additionally earned by staking these VET.
Vechain has additionally developed an enterprise prepared SDK platform known as “toolchain”. This may permit these enterprises to simply construct on high of the Vechain blockchain and observe their items because it passes by means of their provide chains.
π― Want For Vechain π―
There’s a lack of belief in provide chains. Individuals can not absolutely confirm that the products have come from the acknowledged supply and so they don’t have any approach of figuring out. That is significantly related within the meals sector.
At Vechain, this provides belief to the availability chain course of. When an excellent is produced on the farm it’s allotted a QR code or RFID chip. Then, all through every stage of that provide chain they will scan the code to guarantee that the products have been by means of the proper traces and stored in the fitting situations.
Ultimately, when used at scale, there’ll come a scenario through which
π VET Tokenomics π
VET powers the whole ecosystem. These tokens are additionally used with a purpose to generate that VTHO.
One thing else that’s essential to know in regards to the VET token is that it has a capped provide. There are a bit underneath 87 billion VET out there and that quantity won’t be elevated. This in fact locations a pure provide restrict on the token.
There are a selection of various nodes that function on the Vechain community. Authority nodes require a minimal of 25 million VET. There’s presently 4.5 billion locked in Financial nodes and 11.2 billion locked within the X nodes. So, mixed with the Authority nodes that means that about 21% of all VET is off the market.
π VTHO Tokenomics π
To be able to run these dApps and to ship transactions, these customers want VTHO. This VTHO is the “fuel” within the VeThor blockchain. 70% of all VTHO that’s used to energy the community is consequently burned whereas the remaining 30% is paid to the authority nodes.
The extra demand there may be on the community the extra want there shall be for the VTHO tokens. Which means the worth of VTHO is more likely to improve. As this will increase there shall be extra demand to mint these tokens throuh staking the VET. This may then result in extra demand for VET.
You have got a scenario the place demand and utility use of the Vechain blockchain will finally enhance feed into the worth of VTHO and therefore the VET tokens.
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π Disclaimer π
The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who is just not a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable threat of loss. The speaker doesn’t assure any specific final result.
#Vechain #VET #crypto #blockchain #Overview #VTHO #supplychain #binance
Source: Coin Bureau
40 Responses
Glad you guys are liking the video! Vechain really is a project that is trying to tackle that question of enterprise adoption. They have the right strategy to do it with their toolchain SDK and platforms built on top of VechainThor. You need to take their hand and show them the way to a decentralised and trustless future supply chain π. Don't forget to join my newsletter if you want more coin reviews / insight in my weekly mailers – https://guy.coinbureau.com/signup/
Yo my guy! We need another update on VET brother! Clue us in! π€
I do hold some VeChain, so not trying to poke holes in it but have a question hopefully someone can answer. Couldn't this supply chain be hacked at the ground level? Let's take the wine example. There's a QR code on the bottle itself, but halfway between Italy where it comes from, and Australia where it'll be consumed, someone just replaces the bottle and puts the QR code on the fake bottle. So now the fake cheaper bottle has the history of the original bottle?
Thanks Guy
It's really crazy how this coin didn't get enough attention from investors from it real world usecase.People like Doge anyway fckn idiots
Vet 50$ 2023
Just recently purchased VET so this is very valuable info. Thanks a Mil!
So say someone finished a bottle of wine with a QR code on it confirming where it came from. If they wanted to couldn't they peel tht QR code off and just put it on another bottle now tht one looks real?
Update on Vechain man.
Very concise and easy to understand information! Iβm very new to crypto and iβm doing research on which is worth to invest in. I have to say you summarise the profile of VeChain very well.
Why don't you hold VeChain in your current holding?
Guy! you are the guy!
So much to learn about all this new technology. Thanks Guy. I've been watching your videos a lot the past couple weeks.
First comment!!!
Why Nobody told me about crypto a year ago?
Damn! Vchain guys should hire u for their PR.. u sold it π€π€π€
WILL IT REACH $5 THIS YEAR OR SHOULD A HODL STRATEGY BE USED HERE?
dat VTHO
Thank you. Given me a good idea covering how it works. I can see it has a very promising future if it catches on which cant see why it wouldn't. Why couldn't a coin like this get traction even in a bear market. Produce doesn't really go into bear markets esp world wide.
Vechain is going to change the world
VeChain ππππππππ
Amazing Technology
And itβs 0.18 today with more to come!
I think you should reupload this video. It is such an art piece with all the editing and you give all the information. I just think there are more people paying attention now. I joined when I watched your video 7 months ago. I think new users would love this
Please give us an updateπππ
Should we also considere vethor? Or the man here is the VET ? Thanks for the video. I have ready subscribed. Is great
age well
We are at 0.25 now!!!
how many floors do you think
Every time I watch your videos, I swear I feel the urge to share them with my friends. I can't even wait till it ends. You make multiple points that make me jump out of my seat in awe of the future.
Is Guy John Cleese's son?
wish i had watched this a year ago lol
FINALLY, a no-hype video on Vechain… informative and much appreciated
V-Chain is a utility, not a valuable asset.
I still don't get why this needs a centralized block chain, instead of just using the server client model.
Great channel. And WOW!! you rarely blink! π
This aged like wine
Please an update this was 9 months ago! πππβ₯οΈ
Couldnβt a scammer just make a copy of the QR code?
Sysco needs this. Nor Cal
So pretty much a vendor chain.
Closed Loop Logistics. Amazing.
SUPER!!!