/ VeChain Might Be The Biggest Crypto of 2018

February 18, 2018

VeChain the biggest crypto

In today's sea of cryptocurrencies, picking winners is not an easy task. 
VeChain is different, and something anyone might use in the near future - it is the crypto’s rising star.

In this post you’ll be reading about VeChain and VET, VeChain Thor and mainnet launch, their awesome partnerships that include Chinese government, one of the strongest communities in crypto community and the mysterious cryptocurrency prophet - the Coca-Cola Kid.

Let me begin by saying I have been invested in VeChain and been a member of its community since the early days, while it had less than 200 members, but am not affiliated with the company in any other way. This post is not a financial advice, nor am I a financial expert. 

Every investment I have made, I made on deep research and fundamental analysis, while the crucial aspect was its real-world implementation - who will use it and why - which is why I just love VeChain so much. For more information, read our article How To Analyze ICO's.

With that out of the way, let’s start with the most obvious question 

/ WHAT IS VECHAIN?

We will start with their vision:


Building a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high speed value transfering.


At first, this tells you nothing, but it also says everything. Basically, you will have a mobile app which lets you scan products and check all the information - its price, date, materials and origin, both of the product and the materials. 

Their original idea started with anti-counterfeiting in the fashion industry, as their CEO, Sunny Lu, is an ex Louis Vuitton executive, and the counterfeiting industry is over $6 billion. You will scan the code on the bag, and it will tell you exact type of leather that it is made of, date and factory, number of previous owners and state. 

Launching VET (first they were called VEN) tokens, introducing the biggest partnerships and announcing VeChain Thor and rebranding, it soon became clear that that’s just the tip of the iceberg, as they are planning to implement it to any industry possible. 

Soon you will know exactly what kind of food are you eating, where that car exhaust really came from or what is it in your medicine that stopped that headache. Sounds great, right?

/  VECHAIN THOR

In a few days, we will see the rebranding happening. VeChain is transforming, in philosophy, service, and scope, into VeChain Thor. Apotheosis, as it is called, is much more than just a new logo or website. It is VeChain - the only chain - becoming perfect.

VET holders will receive THOR in the form of dividends, which they can use to perform smart contracts and run applications on the blockchain. This is similar to NEO and its GAS. 

VeChain Thor relies on nodes to maintain the blockchain ecosystem. Nodes receive THOR as a reward for maintaining the network. There are four types of nodes, differentiated by their maturity date and the amount of VET that they hold:

1. Strength Nodes - 10 day maturity period and minimum of 10 000 VET
2. Thunder Nodes - 20 day maturity period and minimum of 50 000 VET
3. Mjolnir Masternodes - 30 day maturity period and minimum of 150 000 VET
4. Thrudeim Masternodes - 12/21/17 maturity start date and minimum of 250 000 VET

The three types of economic nodes (Strength, Thunder and Mjolnir) receive rewards from the VeChain Foundation THOR pool in addition to the normal reward for holding VET.

The 101 authority nodes (Thrudeim) receive the same rewards as economic nodes, plus 30% of all THOR consumed by blockchain transactions. The remaining 70% of THOR will be burned.

You shouldn't be intimidated by the amount of VET needed to become a node, and you will still receive daily THOR rewards, no matter the amount you hold. 

/ PARTNERSHIPS

Now this is even better than the VeChain Thor's passive income for anyone. I am a member of many crypto communities, and been invested in ETH and NEO before they took off, but have never seen one so updated with announcements and meaningful, following news. 

They partnered with PwC, which is one of the world’s biggest accounting firms. They have a piece of VET, and will push for it to become the global standard in the crypto arena. Renault, a French car manufacturer, in coordination with Microsoft and Viseo. DNV GL which will use the VeChain blockchain, Kuehne&Nagel, Fanghuwang, China Unicom YIDA Group, billionaire venture capitalist and private equity investor, Jim Breyer, and ofcourse, the Chinese Government in conjuction with the State Tobacco Monopoly Administration, China Central Government-owned China National Tobacco Corporation, & the development of the high tech “Gui’an New Area” which will be the leading IT hub of Western China.

Even if you haven’t heard about any of those institutions, one quick google search will easily tell you its weight.

They have introduced VeResearch, a global innovation research grant program formed by research professionals to integrate blockchain into new and emerging technology, and VeVID, the first official public infrastructural decentralized application - dApp. 

/ SO, WHO'S THE COCA-COLA KID?

The man, the myth, the legend.

Someone who obviously knows someone on the inside, because he always nails predictions before the official announcement. He gives clues few days before, and just now, he gave us clues about VeChain’s partnership with the german car manufacturer - BMW. Funny thing is, VeChain has NDA partnerships that they will announce on the rebranding date - 26th of February - and if this came out before, we can just wonder what kind of crazy partnerships we can expect in a week. 

In 3 months, VeChain Reddit community grew to almost 40 000 people. Every communication from the team is transparent and to the point, while they just keep checking the boxes on their roadmap on time, every time. If you liked what you read, I encourage you to read the official whitepaper and more about the project. 

You can find more information on their official website or their super-active subreddit. The first and largest exchange, with millions of users, that listed VET is Binance - you can register at the link. 

3 comments

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  2. The sudden drop in value by about 50 percent has led to speculation that the pseudo-currency field is dying and soon will go the way of the dodo. cardano price

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