VeChain – a solution to real-world problems
VeChain was initially launched in 2015 and is considered one of the oldest cryptocurrency projects. Its ecosystem is a dual-token system comprised of a VeChain token (VET) and VeThor Power token (VTHO). A Proof-of-Stake protocol is adopted, and it means that rewards are directly given to VET holders in the form of VeThor tokens. Therefore, the more VeChain tokens one has, the greater his reward would eventually be.
The initial idea behind this project was focused on supply chain management and linking products to customers using the emerging blockchain technology. However, this idea evolved into solving real-world economic problems and creating value using blockchain's features to track the assets and their owners on the blockchain and build decentralized applications resistant to censorship and corruption.
Currently ranked #22 in terms of market capitalization, the VeChain community hopes that it can add value to businesses and build solutions that will make the world's economy run smoothly. The hard work of everyone included in the project is about to get paid off as the token, and its mission is more recognizable than ever. Developed companies like Microsoft, Renault, and PWC have adopted VeChain in their activities. This can only mean that the project developers are on the right track to grow and expand in the future.