VeThor Price

The VeChain Thor network is a Blockchain-as-a-Service platform that aims to make data actionable and transparent and facilitate services for enterprise users that employ smart chips. The network is an intermediary for implementing NFC chips, QR codes, and RFID trackers for the enterprise Internet of Things on the blockchain.

The VeChain Thor blockchain is a dual-token system with VeChain Token (VET) and VeChainThor Energy (VTHO) tokens.  The VeThor token plays an integral role in the functionality of the network and is used to power smart contract transactions.

Check the current price of VeThor token, VTHO price history, VTHO price statistics, 24h trading volume, market cap, total supply, circulating supply, etc., and get updates on VTHO price in real-time on CoinStats, one of the best crypto platforms around.

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What Is VeThor (VTHO)

VeThor is part of the dual-token system used on the VeChainThor public blockchain and plays an integral role in it. VeThor token is the VeChain ecosystem's main method of payment required for every transaction and smart contract operations made on the network. It also represents the gas currency of the network.

In some way, the more VET tokens a user has, the more VTHO tokens he receives. VTHO is generated by holding VET, so you can earn VTHO by holding a VET balance.

As in cryptocurrencies like Bitcoin, VET transfers and stores value, while VTHO is considered an energy token.

VeChain is a blockchain technology platform founded in 2015, designed to enhance business processes and supply chain management. Its objective is to streamline these processes and information flow for complex supply chains through (DLT) distributed ledger technology.

Healthcare, carbon emission tracking, food safety, anti-counterfeiting, etc., use the VeChain platform to track quality, authenticity, storage temperature, and transportation medium. The VeChain platform uses smart chips that broadcast vital information onto the blockchain network that can be later tracked on the VeChainThor blockchain.

How Does VeThor Work

The VeThor token (VTHO) is a VIP-180 token that makes executing operations on the network faster and more efficient. VIP-180 is part of the ERC20, which puts forward certain APIs on the VeChain that allows for ongoing spending by third parties.

VeChain’s website refers to VTHO as the network's " energy, " similar to gas on the Ethereum blockchain. The VTHO token is used to cover the computational gas costs for all transactions on the VeChainThor blockchain. The cost varies depending on the data and size of the transaction being processed.

VeChain’s Whitepaper notes that 70% of VeThor paid per transaction is destroyed while the remaining 30 % is awarded to the Authority Masternode Operator. Variables can be adjusted to maintain adequate levels of supply and demand.

The VeChainThor network is secured by a Proof-of-Authority (PoA) consensus mechanism that makes instant verification of VeThor’s transactions and ensures the network's efficiency with relatively little electricity.

VeThor Founders

The VeChain Thor network was founded in 2015 by the CEO and founder of the VeChain Foundation, Sunny Lu, a Chinese software engineer. Lu previously served as IT Manager for Barcadi China before becoming the Chief Technical Officer of Louis Vuitton China.

In the early days, VeChain operated as a subsidiary of Bitse, China’s blockchain powerhouse. Later, in 2016, VeChain became a separate entity thanks to the initiative of Sunny Lu.

Initially, VTHO tokens operated on the Ethereum blockchain until 2018, when the network rebranded itself and moved to its own VeChainThor blockchain. Subsequently, it became a dual-token ecosystem for the Internet of Things enterprise solutions that operate with smart chips. The VeChain Thor blockchain and the VeThor Token (VTHO) were created to facilitate diversity.

Other VeChain team members include a steering committee comprised of individuals with diverse backgrounds. The project also has an advisory board with Jim Breyer, Cy Cheung, James Gong, etc., forming part of the board.

VeThor Metrics

VeThor token (VTHO) has a market capitalization of $67.7 million, which makes it a small cap coin. It has a market rank of 304 and a market dominance of $0.01%. In terms of price history, the token reached its all-time high of $0.04201 back in 2018 and faced its all-time low in March 2020.

The VeThor token has a circulating supply of 45.6 billion VTHO, and the total supply is the same. There is no max supply on the project's crypto assets as it uses adjustable variables to maintain supply and demand levels.

Where to Buy VeThor

Several leading exchanges have listed the VeThor token (VTHO) on their platforms, including Binance, the largest exchange in the world in terms of trading volume, Coinbase, the largest exchange in the US, and other US-based exchanges like Kraken and Gemini.

Other crypto exchanges that have listed the token include BitVavo, CoinSpot, Crypto.com, and HitBTC.

In choosing where to buy VeThor token, consider the exchange's reputation, the fees charged by the platform, the security, etc.

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