What Is VeChain (VET)?

VeChain is a blockchain platform that provides a full view of any organization or group by disintermediating the information from available data.

The main aim of VeChain is to build a trust-free environment and distributed ecosystem to enable transparent information flow, efficient collaboration and easy, fast transfer of values.

VeChain uses the method of Proof of Authority (PoA) consensus protocol. Under this, identity is used as a stake to validate transactions and approve or validate new block transactions.

Founded in 2015 by Sunny Lu, the former chief information officer of Louis Vuitton China.

The VeChain team first distributed its cryptocurrency, VEN, on the Ethereum blockchain in 2017.

To buy VeChain cryptocurrency or token, you can choose any cryptocurrency exchange platform and then continue with the trade and storage of tokens.

Its main feature enables enterprises to track supply chain operators for big companies. This feature makes it suitable for creating NFTs and linking digital with physical products by applying NFC and IoT technology.

VeChain’s vision of lowering the problems and barriers in the trade. It enables established businesses with blockchain technology to create value.