What is VeChain (VET)? | VeChain Crypto Explained in Under 60 Seconds

The VeChain Platform is a blockchain-powered platform aiming to use decentralization & innovative technology to provide mass adoption of blockchain solutions for businesses. The VeChain Token (VET) is used for transactions & other activities on VeChain. A ‘proof-of-stake’ token that also allows holders to generate VeThor tokens (VTHO).

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VeThor (VTHO) functions as a “gas token” that provides fee payments. The dual-token system helps to prevent fee fluctuations & network congestion.

VeChainThor is VeChain’s public blockchain which provides a sustainable & scalable blockchain ecosystem for business users & developers.

VeChainThor expands on essential building blocks of Ethereum, allowing the creation of large-scale commercial decentralized apps (dAPPs) on the blockchain.

VeChain ToolChain is the BaaS (“Blockchain-as-a-Service”) platform running on the VeChainThor blockchain that makes blockchain integration frictionless for enterprises.

WEBSITE: https://www.vechain.org/