What is VeChain (VEN)?
VeChain is a product management platform based on blockchain technology , which has completely changed the image of the products that move in the supply chain.
Vechain has made it incredibly easy and simple for manufacturers to manage, track products and communicate product information to their consumers in an organized manner. Its objective is to create a distributed business ecosystem based on blockchain technology.
VeChain offers retailers and consumers the ability to determine the quality and authenticity of the products that are purchased.
From product source materials to service history and spare parts replacements, each piece of information on the movement of a product's supply chain can be recorded and verified to generate a safe supply chain management ecosystem for all participants.
Where was VeChain born?
VeChain was developed in Singapore, born mainly from the need to create transparency in the market and to provide customers with access to information related to the products they buy or sell.
Currently, the CEO of Vechain is Sunny Lu, who was also co-founder of BITSe (a Chinese Internet company) and one of the brains behind the QTUM cryptocurrency.
Unique features of VeChain
Vechain is one of the first blockchain companies formed in the world and is being developed by a highly qualified team of blockchain experts.
It has practically applied blockchain technology to several industries, including agriculture, liquor and luxury products.
He has been delivering blockchain projects around the world and has his branches established in several countries, including Japan, France and Singapore.
It provides a great transparency to the information in an organized way.
The potential for trust problems between the parties at both ends in their blockchain supply technology has been minimized.
Based on what a person can contribute, all those linked to Vechain enjoy their own unique place and value.
It is constantly expanding in relation to the rapid development of companies and the commercial expansion of various industries.
How does VeChain stand out from other Blockchain companies?
As one of the first blockchain technology companies in the world, VeChain has had more time than other companies to perfect its technology and offer products that users really want. His position in the industry also means that the vast majority of the VeChain team has years of experience.
Over the years, VeChain has proven its effectiveness with the successful implementation of blockchain in various industries, such as agriculture, luxury goods and liquor. In addition, VeChain is spread all over the world with branches in Hong Kong, Singapore and France, which allows the global implementation of projects
What is VEN?
VEN is the token used within the VeChain ecosystem. This is the token that users use to pay for services and products or receive when they provide these things.
During the last weeks in which the prices of Bitcoin and other cryptocurrencies showed falls and slow recoveries, the VE has maintained and even improved its indexes.
41 percent of the total tokens were distributed during the VeChain token crowdsale, and the proceeds went to the operation of the VeChain Foundation, such as development, finance, marketing and legal advice.
Another 23 percent of the tokens are assigned to business investors who will use it as a development objective for their business. An additional 12 percent of tokens goes to the continuous operation of the system, as well as to the technological development. Nine percent goes to private investors, 10 percent to commercial implementations and the remaining 5 percent to the development team and co-founders.
Price and positioning of VeChain
How to buy VeChain VEN
In order to obtain Vechain VEN, you must first buy another currency: the easiest ones to buy are Bitcoin or Ethereum.
To buy Bitcoin or Ethereum, you can use any of these websites, where you can buy with a credit / debit card:
CEX.io : excellent site to buy Bitcoin, Ethereum and Ripple with credit or debit card.
Coinbase: a great place to buy Bitcoin with a credit card, and offers multiple online purses to store cryptocurrencies.
Binance: one of the main exchanges where you can exchange Bitcoin for VeChain VE.
Yobit.net: when you come across a promising new cryptocurrency, which is not yet listed in the previous exchanges, you can surely find it on Yobit.net.
Can VeChain be mined?
The formal name of the coins used in the VeChain system is 'VEN'. It is the token that consumers use to pay for services and products. 41% of the total VeChain token has been distributed through the Vechain crowdsale token and the profits have all been spent on the Vechain base for development.
The currency of Vechain can not be mined, unlike other traditional cryptocurrencies, although you can buy VEN through an exchange like Binance , exchanging it with another cryptocurrency such as Ethereum or Bitcoin.