VeChain (VEN) Profile

VeChain Profile (PDF)

VeChain (VEN) began as a Blockchain-as-a-Service company primarily focused on supply chain tracking. Initially launched in China in August 2017, the VeChain platform attempts to combine blockchain technology with an in-house smart chip (which can be implemented in NFC chips, RFID trackers, or QR codes) to track items through the entire supply chain lifecycle. VeChain is working on implementing several industry specific tracking platforms including solutions for tracking luxury goods as well as liquor and wine. In late 2017, VeChain announced plans to rebrand as “VeChain Thor.” VeChain Thor is a DApp platform (like Ethereum, Cardano, and NEO) focused on producing enterprise level DApps. VeChain Thor will incorporate two new tokens: VeChainToken (VET) and VeThor (VTHO). VET will be used to secure VeChain’s new public blockchain, and VTHO tokens will be generated by holding VET, like NEO’s GAS tokens. Despite the rebranding, VeChain Thor is still a work in progress, and does not currently have a public alpha or beta. Its new mainnet is scheduled to launch in June 2018. As of March 2018, VEN’s trade volume is relatively concentrated: about 65% of VEN trading takes place on Lbank, which is a Chinese based exchange, and another 25% takes place on Binance.