VeChainThor BlockchainTECH FEATURES

The VeChainThor Blockchain is designed for wide enterprise adoption, and it reflects our years’ experiences of developing and running blockchain solutions for well established brands and companies. We have created many new technology features that cater to the needs of real world business environment.

  • ComprehensiveGovernance

  • Proofof Authority

  • HighScalability

  • RoadmapforCommercial Use

Governance

As VeChain strives to achieve a balance between decentralization and efficiency, the VeChainThor blockchain has built-in governance tools including voting and know your customer (KYC) to ensure that it is supported by the smart contract to provide transparency and efficiency.

Proof of Authority

The VeChainThor blockchain uses PoA to maintain the consensus among all blockchain nodes. The blockchain consists of 101 authority nodes which are controlled by the whitelist. All the nodes no matter owned by institutions or individuals will have to meet our KYC requirements, hardware and security standards.

High scalability

The PoA consensus allows us to have a higher scalability for the VeChainThor blockchain than PoW blockchain. Based on our test, the maximum TPS could be 10,000 transactions per second. But the VeChainThor blockchain will have 50 TPS based on our estimation of the transaction volume at the launch of the platform. We will also leverage technologies such as cross chain and sidechain (such as for a vertical industry) to enhance the performance of the VeChainThor blockchain.

Roadmap for commercial use

We design the VeChainThor blockchain to cater the needs of the enterprises, and hoping more and more business and financial activities will run on it. That’s why we created our development roadmap to ensure we have the capabilities to support the activities in different stages.

State-of-the-Art IoT Solutions

VeChain believes that blockchain alone cannot realize much of the application scenarios on its own, that blockchain technology has to combine with Internet of Things.

IoT is like our eyes and hands, we use them to sense the world, to gather and collect data.

Blockchain is like our hearts, we use it to guarantee the authenticity and reliability of datasets.

VeChain has partnered with numerous world’s leading IoT devices manufacturers, RFID, NFC tags producers, to empower the integrity and accuracy of the dataset stored on VeChainThor Blockchain.

Economic Model

The VeChain Foundation introduced a two-coin system, i.e., VET and VeThor, to provide flexibility, stability, and longevity.

The basic principle for designing this model is to prevent transaction fees from being directly exposed to the volatility in price of VET, making the VeChainThor Blockchain more suitable for conducting business/financial activities for both ordinary enterprise, and government users.

VeThor

VET

  • FunctionofVET

  • Function ofVeThor

  • VeThorGeneration

01Function of VET

  • Serve as the intermedium of value, i.e., smart payment currency

  • Represent the right and privilege to occupy and use VeChainThor blockchain

  • Carry out the economic and business activities which contributes valuation of entire VET circulation

02Function of VeThor

  • Represent the underlying cost of using VeChainThor blockchain

  • Support payment transactions and smart contract executions

03VeThor Generation

The initial VeThor generation rate is mandated to be 0.000432 VeThor per VET per Day. The VeChain Foundation will closely monitor the usage and status of the VeChainThor blockchain and to balance the VeChain ecosystem.

The initial VeThor generation rate is mandated to be 0.000432 VeThor per VET per Day. The VeChain Foundation will closely monitor the usage and status of the VeChainThor blockchain and to balance the VeChain ecosystem.