No items found.

VeChainThor

price
change

Discover VeChainThor's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is VeChainThor?

VeChainThor (VTHO) is a token used on the VeChainThor blockchain to facilitate transactions and smart contract operations. It is generated by holding VeChain (VET) tokens and is required to pay for gas fees on the network. VTHO is burned at a rate of 70% for each transaction, with the remaining 30% awarded to Authority Masternode Operators. This token is essential for the functioning of the VeChainThor ecosystem, which focuses on supply chain management and enterprise-level applications.

How is VeChainThor used?

VeChainThor (VTHO) is used to power transactions and smart contract execution on the VeChainThor blockchain. It is the energy token that represents the cost of carrying out transactions and smart contract operations on the network. VTHO is required for every transaction, including sending tokens and data to smart contracts, and is used to pay for the computation and storage needs of the network.

How do I store VeChainThor?

To store VeChainThor (VTHO) tokens, you can use the official VeChain mobile wallets, such as VeWorld, VeChainThor, or Sync2. These wallets are designed to be lightweight and secure, with features like 2-factor authentication and token swap functionality. They allow you to send and receive VTHO tokens, bind your X node, claim VTHO rewards, and observe addresses outside your wallet.

Alternatively, you can use a hardware wallet like Ledger Nano S or Ledger Nano X, which can be managed through Ledger Live. This provides an additional layer of security for storing your VTHO tokens. You can connect your Ledger hardware wallet to the VeWorld desktop wallet to manage your VTHO tokens securely.

How to buy VeChainThor?

To buy VeChainThor (VTHO) tokens, you can follow these steps:

  1. Create an Account: Sign up for a cryptocurrency exchange that supports VTHO, such as Coinbase, Binance, Gate.io, or Crypto.com. Ensure you have a valid ID and proof of address ready for verification.

  2. Add a Payment Method: Connect a payment method to your exchange account, such as a bank account, debit card, or wire transfer.

  3. Select VTHO: Search for VeThor Token on the exchange and select it for purchase.

  1. Enter the Amount: Input the amount you want to spend in your local currency, and the exchange will convert it to VTHO.

  2. Finalize the Purchase: Review the details and confirm your purchase.

Alternatively, you can also use a crypto wallet to buy VTHO. Choose a reputable wallet that supports VTHO, download the app, create a wallet address, and purchase VTHO using a supported payment method.

For more detailed instructions and specific exchange requirements, refer to the guides on Coinbase, Securities.io, or KuCoin.

Discover
VeChainThor
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of VeChainThor

VeChainThor, also known as VeThor Token (VTHO), is a part of the dual-token system of the VeChain Thor blockchain. The VeChain platform was initially launched in 2015 by Sunny Lu, the former CIO of Louis Vuitton China. Initially, it was a subsidiary of Bitse, one of China's largest blockchain companies. In 2018, the platform transitioned onto its own blockchain and rebranded itself as VeChainThor.

VeChainThor is a public blockchain designed for mass business adoption, focusing on supply chain management and enterprise services. It employs two tokens: VeChain Token (VET) and VeChainThor Energy (VTHO). VET serves as the value layer, facilitating the transfer of value across VeChain's network, while VTHO functions as energy or "gas" to power smart contract transactions.

The VeChainThor blockchain uses Proof of Authority as a consensus protocol, where votes are disbursed based on VET holdings and disclosure. The system consists of 101 master nodes responsible for reaching consensus on transactions and economic master nodes used as a check on power.

VeChain has formed strategic partnerships with several companies, including PricewaterhouseCoopers (PwC) and Renault, to help achieve its goals of disrupting the supply chain industry and becoming a leader in dApps, ICOs, and IoT intermediary.

The VeThor Token (VTHO) is generated by holding VET, and its supply is governed by generation and burning parameters. VTHO is used to pay for transactions and smart contract operations on the VeChainThor blockchain, and its price is subject to market fluctuations.

Discover
VeChainThor
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How VeChainThor works

VeChainThor (VTHO) is the energy token used to power transactions and smart contract execution on the VeChainThor blockchain. It is an integral part of the dual-token system, along with VeChain Token (VET). Here's how it works:

Generation and Supply

VTHO is generated by holding VET in a compatible wallet. The amount of VTHO generated is proportional to the amount of VET held. There is no maximum supply of VTHO, and its supply is governed by the generation and burning parameters. These parameters can be adjusted through a transparent governance process to control the monetary supply.

Transaction Costs

VTHO is used to pay for transaction fees and smart contract execution on the VeChainThor blockchain. Each transaction requires a certain amount of gas, which is priced in VTHO. The gas price can vary based on market supply and demand, but it is currently set to ensure stable transaction costs.

Burning Mechanism

To control the supply of VTHO, a burning mechanism is employed. When a transaction is executed, 70% of the VTHO used for the transaction is burned, meaning it is sent to a wallet without a private key and becomes irrecoverable. The remaining 30% is rewarded to the Authority Masternode that produces the block.

Relationship with VET

VTHO is generated by holding VET, and its supply is dependent on VET holdings. This approach uncouples the blockchain usage cost from VET's market price, ensuring stable transaction costs. VET is the primary value carrier and facilitates investments, while VTHO is the energy token used for transactions and smart contracts.

Governance and Consensus

VeChainThor uses a Proof of Authority (PoA) consensus protocol, where votes are disbursed based on VET holdings and disclosure. The system consists of 101 master nodes responsible for reaching consensus on transactions and economic master nodes used as a check on power. This governance structure ensures that decisions are made by the community stakeholders.

Real-World Applications

VeChainThor is designed to facilitate services for enterprise users, particularly in the Internet of Things (IoT) and supply chain management. It enables the use of smart chips, QR codes, and RFID trackers to track products and ensure their quality and authenticity.

In summary, VeChainThor (VTHO) is the energy token that powers transactions and smart contracts on the VeChainThor blockchain. Its generation and supply are linked to VET holdings, and it is used to pay for transaction fees. The burning mechanism helps control the supply, and the governance structure ensures that decisions are made by the community stakeholders.

Discover
VeChainThor
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

VeChainThor's strengths

VeChainThor (VTHO) has several strengths that contribute to its functionality and value within the VeChain ecosystem:

  1. Dual-Token System: VTHO is part of a dual-token system with VET, which allows for a stable transaction fee structure. This separation ensures that the cost of using the blockchain is not directly affected by the market speculation on VET.

  2. Gas Currency: VTHO serves as the gas currency for the VeChainThor network, facilitating transactions and smart contract operations. It is required for every transaction and smart contract execution, making it an indispensable element of the network.

  3. Supply and Demand Management: The VeChain Foundation actively manages the supply and demand of VTHO to maintain equilibrium. This is achieved through adjustments to gas prices and velocity, ensuring that the token's value remains stable and responsive to market conditions.

  1. Reward Mechanism: VTHO is generated by holding VET, incentivizing users to hold VET and participate in the network. This mechanism encourages long-term saving and contributes to the overall health of the ecosystem.

  2. Node Support: VTHO is used to reward Authority Masternodes, which are responsible for maintaining consensus and producing blocks on the VeChain network. This ensures that the network remains secure and robust.

  3. Enterprise Use Cases: VeChainThor, powered by VTHO, supports a wide range of enterprise use cases, including the integration of IoT devices, NFC chips, QR codes, and RFID trackers. This makes it a valuable asset for businesses and organizations utilizing blockchain technology.

Overall, VTHO's strengths lie in its ability to facilitate stable and efficient transactions, its role in incentivizing network participation, and its support for a robust and secure blockchain infrastructure.

VeChainThor's risks

VeChainThor (VTHO) faces several risks that could impact its adoption and success. Some of the key risks include:

  • Centralization: VeChainThor's Proof of Authority (PoA) system lacks the decentralized nature of typical blockchains, which could lead to concerns about centralization and control.
  • Competition: Large companies like Amazon and IBM might develop and implement their own blockchain-based supply chain solutions, potentially competing with VeChainThor.
  • Resistance to Adoption: Companies and organizations might resist adopting VeChainThor due to its centralized nature and the fact that their existing solutions work well enough for them.
  • Risk of High VET Prices: If VET prices increase significantly, it could make VTHO more expensive, which could negatively impact the adoption of VeChainThor's supply chain solutions.
  • Anti-China Sentiment: VeChainThor is based in China, which could lead to mistrust and anti-China sentiment, affecting its adoption globally.
  • Limited Growth Potential: The supply chain industry, which is VeChainThor's primary focus, is smaller than expected, and growth potential beyond the current stages is uncertain.
  • Lack of Funds: Although unlikely, VeChainThor might face financial constraints, which could hinder its development and adoption.
  • Risk Rating: VeThor Token (VTHO) has received a high risk rating from InvestorsObserver analysis, indicating potential volatility and uncertainty in its market performance.

These risks highlight the challenges VeChainThor faces in terms of adoption, competition, and market perception.

Discover
VeChainThor
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did VeChainThor raise funds?

Discover
VeChainThor
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

VeChainThor's ecosystem

No items found.
No items found.
Discover
VeChainThor
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

VeChainThor’s team

Here are the key team members behind VeChainThor (VTHO):

  • Sunny Lu: CEO, former CIO of Louis Vuitton China, and founder of VeChain.
  • Jay Zhang: CFO, with experience from Deloitte and PwC.
  • Kevin Feng: COO, with expertise in cybersecurity and assurance from PwC China and Hong Kong.
  • Jianliang Gu: CTO, with over 16 years of experience in software and hardware development.
  • Richard Fu: VP Marketing, with experience from LVMH and Shangri-la.
  • Chin Qian: VP Sales & Channel, with experience from HP.
  • Bin Qian: Chief Blockchain Dev, with over a decade of experience in mobile application development.
  • Peter Zhou: Chief Scientist, with a background in research from the University of Kent and the University of Oulu.
  • Jerome Grilleres: General Manager VeChain Europe, with experience in business strategy and development in retail banking.
  • Sarah Nabaa: General Manager VeChain Singapore, with a background in electrical and electronic engineering and experience in startup consultation.

Whalee AI

The fundamental analysis assistant for crypto value investors.

VeChainThor NEWS REPORT

Latest news

Want an analysis of VeChainThor? Tell us on discord.

Similar tokens

Looks like we're missing similar tokens!
Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM