VeChain: A Smart and Secure Blockchain for the Fourth Industrial Revolution

Blockchain technology has become increasingly relevant in the age of digital transformation. The need for secure and trustworthy ways of handling data has become paramount. VeChain is a smart and secure blockchain platform that provides innovative solutions to businesses looking to automate their operations securely. The system operates on a dual-token system, designed to ensure sustainability and fairness.

In this article, we will explore VeChain's features, benefits, and innovative tools in VeChainThor that make it an ideal smart and secure blockchain for the Fourth Industrial Revolution.

What is VeChain: Unique Features and Benefits

VeChain's unique features are designed to enable businesses to track and automate their processes securely and transparently. 

• Compared to other blockchain technologies that use a proof-of-work consensus algorithm, VeChain uses a more energy-efficient proof-of-authority consensus algorithm that operates on a distributed governance system. This innovation ensures that the network remains decentralized, yet maintained by trusted entities – that are rewarded with VTHO tokens for their services.
• VeChain's ecosystem operates on two tokens – VET and VTHO. VET is the Primary token and serves as a value transfer medium, while VTHO is the energy token that powers transactions on the network. This dual-token system is designed to ensure individual token holders’ stakes in the network and assist in the management of network transactions.
• The founders of VeChain, Sunny Lu and Jay Zhang, bring to the table years of experience in the blockchain industry. Lu’s experience includes developing the blockchain network that powers China’s State Tobacco Monopoly Administration, and Zhang has a background in management consulting and IT design.
• VeChain has a growing list of enterprise clients acquired over the years, including BMW, DNV GL, H&M, LVMH, Walmart China, and others. These clients reflect the various industries that VeChain serves, from supply chain management to auto manufacturing, healthcare, and more.
• The transparency and automation provided by VeChain’s blockchain technology system help businesses track and reduce costs, errors, and supply chain inefficiencies.

Innovative Protocols and Tools in VeChainThor

VeChainThor uses innovative protocols and tools that help users and token holders to operate and interact with its ecosystem conveniently. 

• The first of these protocols is the fee delegation protocol, which allows token holders to delegate VTHO to smart contracts, allowing for seamless access to dApps and operations on the platform.
• VeChain's one-stop ToolChain platform, which is available as a suite of services, is an all-encompassing solution for businesses seeking blockchain solutions. ToolChain offers pre-programmed, configurable templates for various idiosyncrasies of businesses, such as QR code management, digital contract management, and supply chain tracking. The goal is a flexible, rapid implementation, and user-friendly environment to get started on the blockchain with ease.
• VeChainThor has several partnerships and applications, such as the use of VeChain's blockchain for the Digital Carbon Ecosystem, a blockchain solution that promotes emissions trading, and the tracking of carbon credits. VeChainThor has the vision to bring a significant impact to the fourth industrial revolution and the emerging developments of the digital age.

Current Status and VeChain Future Roadmap

VeChain has a promising outlook in the blockchain industry. At the beginning of August 2021, the VeChain network marked a significant milestone by surpassing ten million transactions recorded on its blockchain. The network uptime has remained impressive, and the development team continues to release updates and protocols that enhance VeChain's security and usability.

Looking forward, VeChain has plans to expand the network's development and ecosystem expansion through partnerships, collaborations, and community engagement initiatives. The VeChain Foundation has launched a new DeFi project, and it appears that VeChain will be focusing primarily on driving growth in decentralized finance with the introduction of VeChainSwap.

VeChain's innovation and implementation in the blockchain space have opened up new possibilities for supply chain management, carbon emissions trading, and more. The platform has already gained popularity in leading industries, with BMW, H&M, and LVMH using it, among others. VeChain's prospects look bright with its partnerships and projects in the DeFi space.

How to Buy VeChain with a Credit Card?

• Buy VeChain via a Reputable Exchange

Various crypto exchanges such as Coinbase, Kraken, Binance, and OKX are offering to buy VET with a bank card.

Remember that the exchanges are usually centralized so they are not a go-to for your long-term holdings.

• Buy VeChain or exchange it right from your Wallet

Many digital wallets today offer great functionality and have an in-built buy/sell and exchange option.

Also in many wallets you can find such features:

• Address Book
• Asset statistics in Portfolio
• Full transaction history tabs
• Customizable commissions for sending coins

See the example from Arctic Wallet down below.

Source: Arctic Wallet App

Conclusion

VeChain is an ideal blockchain platform that ensures efficient data tracking and automation, allowing businesses, especially those in various industries, to keep their costs and operations under control. Their approach to blockchain infrastructure can help secure and empower new business models in the digital era.