VeChain

VeChain is one of the first blockchains built exclusively to meet the needs of customers worldwide. The developers of this project were looking to improve the supply chain and manage the product life cycle through technology (DLT), so they launched this platform. In general, this platform was launched to create a sense of greater user trust in their product. You ask how? If you are planning to buy a brand shoe, the product you are looking for will rotate in several hands to reach you. Are you sure you have received the same original material?

Vechain, meanwhile, steps in and builds the trust process. How? VeChain has developed smart and digital chips that are installed on the product and you can be informed of the status of the product at any time by scanning that chip and be sure that the original product will reach you or not. Vechain allows managers and customers of different businesses to track huge amounts of data. These indicators can include such things as quality, authenticity, storage temperature, and shipping status.

How does vechain work?

Vechain uses a variety of technologies to achieve its goal of simplifying the supply chain segment. Vechain, for example, uses a variety of tags and radio frequency identification (RFID) sensors to monitor important data when transporting goods. This information is transmitted through blockchain. This strategy enables stakeholders or market participants to control the case and verify its terms and authenticity.

History of Vechain

VeChain entered the digital arena in (2015) to disrupt the industry through data transparency and become true from the design page. Sunny Lu, the creator of the project, had a clear history and background in running Louis Vuitton China, which is why the project was so well known.

VeChain’s VET was first developed and launched on the Ethereum blockchain. Putting another digital currency on top of a digital currency blockchain is a strategic approach that is very popular in the market. Because it allows developers to display their currency and purpose and raise capital to develop their blockchain. This process is exactly what Vechain did. Today, VET operates in the native VeChain ecosystem.

How to maintain Vechain?

You can save Vechain in different ways. If you want to trade your VET currency and put it into circulation, you can save your currencies in the VeChainThor mobile wallet. With a simple user interface, this wallet provides all the features you need. Best of all, this software can be downloaded for free for Android and Apple devices.

But if you want to make a big investment in VET or if you want to hold this currency for a long time, a hardware wallet is the best option. Hardware wallets store your currencies offline "cold storage".

Ledger Nano S or the more advanced version of Ledger Nano X both support VET.