In two days the rebranding event called apotheosis of VeChain will start. Let's have a look at what we can expect and what changes will be introduced. VeChain (VEN) was originally branded as a blockchain that’s all about product tracking via RFID, the blockchain era’s answer to supply chain management solutions, whit this system, consumers and merchants can verify the authenticity and quality of any goods using smart chip technology that’s all maintained on a blockchain. With their rebranding they will broaden their focus and move more in the market space of Neo building on a smart economy.
What will change:
- Name re-brand to Vechain Thor (VET)
- Secondary token will be introduced called THOR. This will be used as the gas to pay for the network feed same as with Neo. You can stake your VET tokens to receive THOR tokens same as with Neo calculate expected returns here.
- New governance structure read more about it on Medium
A common misconception is that the rebranding will also include their mainnet launch. This is however not the case. The VeChain mainnet is scheduled for Q2 2018, in an earlier AMA livestream, CEO Sunny Lu announced this would be in June.
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