Ninelives of Vechain

Dear Reader,

Today we are going to discuss one of the most exciting blockchain projects in existence, Vechain. If you don't believe me, check out their website, https://www.vechain.org/ it's very futuristic and for lack of a better word cool. This series is called #Ninelives because cats are said to have 9 lives due to their remarkable ability to survive; Vechain has not only survived, it is now one of the most talked about and connected blockchain projects in existence. Vechain is a supply chain management project with a few interesting twists that are going to potentially make it a popular platform token, let's find out 9 reasons why the VEN token is here to stay.

1. Supply Chain Management: One of the best use cases for a blockchain project, Vechain will help companies track their products with smart chip and blockchain technology. This will ensure the quality and authenticity of the products and help reduce couterfeits and theft. It makes Vechain a popular blockchain with major manufacturers and brands.

2. Partners: Vechain has an impressive list of partners including BMW, Renault Group, PwC China, Kuehne + Nagel, many large Chinese companies, luxury brands and more. The list is constantly growing as these companies want Vechain to help them track their products. When their mainnet goes live in about a months time(est. June 30th), they promise to release the name of another large automotive partner.

3. Vechain Thor: Their mainet will consist of a two-token system consisting of both Vechain Tokens (Vet) and VeThor tokens (VTHO.) Ven will be converted to Vet when it is taken off the Ethereum platform and the Vechain mainnet goes live. Holding Vet will generate VTHO much like holding NEO generates GAS. VeThor can be used to pay for applications and transactions on the blockchain so you don't have to give up your precious Vet. Vet will be used for new applications and platform-wide transactions and services.

4. Enterprise Platform: Vechain started out as a supply chain logistics project but rebranded itself into an enterprise platform-like Ethereum and Neo or what many other large projects such as EOS hope to become. There will be other crypto projects using the Vechain platform for decentralized applications, (dApps) holders of Ven/Vet may get airdrops in the future.

5. Vechain Foundation: A third-party, not-for-profit organization which centralizes the development of Vechain. The argument is that decentralized development or a lack of corporate governance leads to inefficiencies. This style of thinking is not surprising as Vechain originates in China, the idea is that decentralized projects spend time arguing and forking. Vechain claims the foundation ensures transparency and advocates the safety and harmonious development of open-sourced communities. This claim is doubtful but one should recognize the power of centralization, it's what makes Ripple such a popular cryptocurrency with large corporations, which always seek control. What do you think about decentralized versus centralized development?

6. A Chinese Project: Vechain has recently become the first blockchain to partner with the Chinese government. They struck a deal to prevent the counterfeiting of Chinese State Tobacco company products and assist with logistics. Their team is mostly Chinese and, as mentioned before, they have numerous other Chinese partners. Since China is the manufacturing hub for the global economy it makes sense to base a supply chain management company in China. Waltonchain (WTC) is the main competitor for Vechain but has since fallen behind. With the recent reinvention of Vechain, it seems that now NEO is Vechains largest domestic competitor. Being friendly with the Chinese government will only help Vechain in the long run as recent trends show China is opening up to cryptocurrencies and blockchain projects.

7. Economic Nodes: Each Ven/Vet you hold will produce about 0.15 VTHO per year. 30% of all VeThor consumed through transactions on the blockchain will be passed on to the 101 authority nodes or Thrudheim Masternodes (yes Vechain has awesome names) and the remaining 70% will be burnt. There are also Mjolnir Masternodes, Thunder nodes, and Strength nodes, each node represents holding a certain amount of Vet, comes with its own VTHO payout amounts, and various degrees of responsibilities. Here is a link from Vechain explaining this in further detail.

8. Automotive Passports: A unique application of Vechain, this goes beyond supply chain management and creates digital profiles for cars. Maintenence and accident records can be stored digitally on the blockchain along with ownership papers. This is what makes Vechain popular with car companies as most of this information is stored either centrally when a car was new or on paper once it was sold. In a way, this application of Vechain's technology will also be used for a persons health records.

9. Very Active Community: I'm unsure if it's because Vechain is so cool or if it's because of it's potential, but the community is extremely active. The loyalty and fanaticism of the Ven community have helped spread awareness and get Vechain listed on many major exchanges such as Binance, Bithumb etc. further fueling its popularity. Mentioning Ven was even banned on Reddit for a period of time as the community couldn't stop boasting about the coin.

Thank you for taking the time to read about Vechain Thor, I hope you found this post informative. If there are any corrections to be made, please let us know with a comment. If you would like to tell us more about Vechain feel free to comment below and include relevant links, there was much more that could have been written about Vechian Thor. I am definitely a bigger fan of Vechain after researching it and making this post. Please let us know why you like or dislike about the Ven/Vet project. I always upvote quality comments whether they are positive or negative.

In no way is this meant to be financial advice. I do not recommend purchasing, using, selling or holding VET/VTHO or any related tokens. I do not hold VEN tokens and am not affiliated with the Vechain Thor project in any way. Please do your own research when making investment decisions.

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