What Is Vechain.org?
Vechain.org token is one of the two tokens employed by the Thor public blockchain. The initially launched in 2015, but it went through a heavy rebranding process in 2018. While Token (VET) is the native token for the platform, Token (VTHO) plays an essential role in the overall functionality of the blockchain. Token is a VIP-180 Standard token, which represents the cost of using the Thor blockchain. Its primary purpose is to facilitate processes and transactions on the blockchain, and it essentially represents the smart contract layer of the network.
Vechain.org Storage Key Points
|Circulating Supply||34,340,261,669 VTHO|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Vechain Coin Meta-transaction features native to Thor blockchain’s core protocol, such as multi-party payment, multi-task transaction, controllable transaction lifecycle, transaction dependency, make the development more user-friendly for enterprise adoption.
Controllable Transaction Lifecycle
With Blocker and Expiration transaction fields, users can set the time when transaction is processed or expired if not being included in a block
Vechain Coin Flexible transaction fee delegation schemes (Multi-party Payment and Designated Gas Payer) enable a freemium model within a decentralized application to onboard users without friction
Multi-task Transaction (MTT)
Multi-function atomic transactions allow developers to batch payments, add multiple calls to different contract functions into one transaction and determine their sequence.
Vechain.org Set dependencies to ensure the execution order meets the business need, transactions that specify a dependency will not be executed until the required transaction is processed.
The unique two-token system (VET+VTHO) significantly helps separate the cost of using blockchain from market speculation. Due to the correlation with the blockchain resource utilization, the cost is more predictable with the monitoring of the VTHO supply and demand. In addition, Foundation’s governance mechanism further stabilizes the cost.
Vechain Coin governance model with transparency and operational efficiency enables continual and rapid innovation, while resulting in consensus and decisions that balance the views of all stakeholders in the ecosystem. Community-elected Steering Committee facilitates decision making and execution supported by the on-chain governance mechanism.
Well governed foundation is the key to longevity, growth and stability. Making an actionable governance system, that matches the identity they envision for the ecosystem. At the core of its governance structure, Steering Committee, as the elected governing body, oversees various functional committees and represents the balanced interests of the Thor blockchain stakeholders as a whole.
Contribute to the ecosystem and earn rewards! Check out the Developer Information Center for technical documentation and Official Telegram Developer Channel to find the development resources. Please make sure you have read and agree to the rules of Rechains Bounty programs.
Vechain Coin Token (VTHO) is unique due to the fact that it is a VIP-180 Standard token. While Token (VET) performs as the primary value-transfer token, VTHO is an inseparable part of the operation of Thor. The bi-token design of the blockchain allows traders to participate with both tokens, thus diversifying their involvement with the project.
The Thor blockchain boasts increased processing speeds, and an open source design, allowing developers to pool together their efforts. In addition, 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 Thor 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.