VeChain token (VET) is one of the two native tokens on the VeChain blockchain \u2014 a project aiming to speed up blockchain adoption in the business world, primarily in supply chain management. VET is a token used for the actual transfer of value within the network, while the second token on VeChain \u2014 VTHO \u2014 works as gas fees. VeChain has been founded in 2015 by Sunny Lu and is being overseen by VeChain Foundation.VeChain\u2019s purpose is to disrupt the way that supply chains across the world are operated by using blockchain technology to track the goods. The features inherent to the blockchain, like being tamper-proof, make it especially beneficial in some areas. For example, the ability to track food improves consumer trust and helps cut costs (as demonstrated by the VeChain use in Walmart China). Other examples of use cases include luxury goods and cars.VeChain employs Proof-of-Authority security protocol, meaning that the nodes producing the blocks are committee-approved and went through the strict KYC requirements. There are other types of nodes that support the network through VET token staking. As stated earlier, though, the transaction fees are paid in VTHO rather than VET, so that the volatility in one\u2019s price doesn\u2019t affect the other. Note that VTHO is earned by holding VET.In the first half of 2021, VeChain had a real breakthrough \u2014 the VET token price went from ~$0.02 in January to an all-time high of $0.2782 in April. It climbed back down towards $0.05 by July, but as the crypto market geared up for another bull run, so did VeChain.By early September, VET token price grew more than 2x, and the coin has been trading in the ~$0.12\u2013$0.15 range. VET coin price predictions are also strong, with some signs saying it\u2019s a good time to buy.By the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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