Please sign in so that we can notify you about a reply
What Is VeThor Token (VTHO)?
VeThor Token is one of the two tokens employed by the VeChainThor public blockchain. VeChain was initially launched in 2015, but it went through a heavy rebranding process in 2018. While VeChain Token (VET) is the native token for the platform, VeThor Token (VTHO) plays an essential role in the overall functionality of the blockchain.
The VeThor Token is a VIP-180 Standard token, which represents the cost of using the VeChainThor blockchain. Its primary purpose is to facilitate processes and transactions on the blockchain, and it essentially represents the smart contract layer of the network.
Who Are the Founders of VeThor Token?
Sunny Lu is the founder and CEO of VeChain. His professional career took several big turns. In 2009, Sunny Lu took a position as the IT Manager of Bacardi China. One year later, he turned his attention to the world of fashion, becoming the chief technical officer for Louis Vuitton China. In 2014, he switched over to the IT sector of the company, becoming the CIO of the Chinese division.
A year later, in 2015, the idea for VeChain was born, and Sunny Lu founded the company. At first, VeChain was a subsidiary of one of the largest powerhouses in China’s blockchain industry — Bitse. Later on, Sunny Lu separated from Bitse, and VeChain became an enterprise of its own. In 2018, the company went through a significant rebranding process, which resulted in creating the VeChainThor blockchain and the VeThor token.
What Makes VeThor Token Unique?
VeThor Token (VTHO) is unique due to the fact that it is a VIP-180 Standard token. While VeChain Token (VET) performs as the primary value-transfer token, VTHO is an inseparable part of the operation of VeChainThor. The bi-token design of the blockchain allows traders to participate with both tokens, thus diversifying their involvement with the project.
The VeChainThor blockchain boasts increased processing speeds, and an open source design, allowing developers to pool together their efforts. In addition, VeChainThor developed meta-transaction features which allow participants to organize multi-party payments and multi-task transactions. This versatility allows enterprise users of all levels to benefit from blockchain capabilities. In addition, the VeChainThor network benefits from the dual token design, as transactions and smart contracts are executed thanks to the VTHO token, which is not directly related to the market value of VET.
No reviews found