VeChain is a cryptocurrency and software that runs on the VeChainThor blockchain, and it supports two distinct coins as well as smart contracts. VeChain is especially useful for logistics and tracking, which might capture the interest of companies in the shipping, retail, manufacturing, warehousing, supermarket, and other sectors.
VeChain began as a private consortium chain in 2015, collaborating with a number of businesses to investigate blockchain possibilities. VeChain started their public blockchain journey in 2017 with the ERC-20 token VEN, before releasing their own mainnet in 2018 with the ticker VET.
VeChain intends to develop an ecosystem that uses distributed governance and Internet of Things (IoT) technology to overcome key data challenges for a variety of global businesses, including medical, energy, and food.
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