VeThor

What is VeThor?

The VeThor Token serves a crucial role within the VeChainThor public blockchain, one of the two tokens utilized on the platform. While the native token for the platform is VeChain Token (VET), VeThor Token (VTHO) is integral to the overall functionality of the blockchain.

Operating under the VIP-180 Standard, VeThor Token functions as a representation of the expenses associated with utilizing the VeChainThor blockchain. Its primary objective is to facilitate the smooth execution of processes and transactions on the blockchain, essentially serving as the smart contract layer of the network.

Unlike VET, VTHO does not have a maximum supply. Its supply is determined by generation and burning parameters, detailed in the technical section of the page. Altering VTHO parameters is possible through a transparent governance process, allowing adjustments to increase or decrease the monetary supply. Currently, 70% of the VTHO used for transaction costs is destroyed, while the remaining 30% serves as a reward for Authority Masternodes maintaining the blockchain.

Holding VET in a wallet automatically generates VTHO, integrated into the protocol. Unlike many other blockchains, Vechain users are not required to stake with nodes to earn rewards.

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Recent Video Interview

Main points of the interview:

• VeChain’s Role: Focus on enterprise-level blockchain applications and sustainability.
• Partnerships: Collaborations with Boston Consulting Group on sustainability projects.
• Plans to reward individuals for sustainable actions using blockchain.
• Future Initiatives: Expanding ecosystem through community engagement, new applications, and partnerships.

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What is VeChain?

The VechainThor blockchain, a leading Layer-1 platform, champions sustainability with its low-carbon, scalable smart contracts. Public, secure, and decentralized, it employs Proof of Authority 2.0 and 101 distributed Authority Masternodes for robust security.

Innovations like Fee Delegation for non-crypto users, Multi-Task Transactions (MTT), and a two-token model ensure accessibility, efficiency, and predictable costs. Governance is managed by a community-appointed steering committee overseeing technical and on-chain processes, while the blockchain, reliable since its 2018 Mainnet launch, serves as the backbone for mass adoption.

Designed for sustainability, VechainThor's lightweight, agile, and low-carbon approach addresses future challenges, consuming only 0.04% of other blockchains' energy. A year of powering it has an environmental impact equivalent to one gasoline-powered vehicle driven for a year.

VeChain Dual Token System

In response to insights gained from business partners, particularly corporations and enterprise owners, it was identified that a significant hurdle to the adoption of blockchain technologies is the unpredictability of blockchain usage costs due to cryptocurrency volatility. To address this challenge, a dual-token model, comprising the Vechain token (VET) and VeThor token (VTHO), was devised.

VET operates as a utility token, serving as a value-transfer medium, while VTHO represents the essential cost of utilizing VechainThor blockchain resources, functioning as a transaction/gas token. This distinctive two-token structure effectively separates the cost of blockchain usage from market speculation.

The rationale behind selecting this model lies in mitigating the impact of crypto market fluctuations. During bullish phases, native token prices inflate, causing a corresponding increase in transaction costs when the native token is used for network transactions. The dual-token model aims to shield transaction fees from direct exposure to price volatility, ensuring predictability for enterprises and individual users alike in anticipating future network usage costs. VTHO plays a crucial role in enabling Vechain to deliver this predictability.

VeThor Team Background and Partners

Sunny Lu, the founder and CEO of VeChain, navigated a diverse professional journey. Beginning in 2009 as the IT Manager for Bacardi China, he shifted gears in 2010 to enter the fashion realm, assuming the role of Chief Technical Officer for Louis Vuitton China. By 2014, he transitioned within the company to become the Chief Information Officer (CIO) of the Chinese division.

Vechain's governing body, the Steering Committee, takes charge of overseeing functional committees and advocates for the balanced interests of all VechainThor blockchain stakeholders. Emphasizing diversity, the election process aims to bring in members with varied perspectives, marking an initial move toward decentralization. The key members of the committee are Luca Crisciotti, Qi Ge, Renato Grottola, Sunny Lu, and Antonio Senatore.

Vechain and its associated entities have forged robust cross-industry partnerships aimed at fostering ecosystem adoption and collaboration. The platform's enterprise partners are COS, DNP, Deadstock, DHL Innovation Center, DIG, DNV, Fresh Supply Co, Givenchy, Haier, Shokay, Attwood, Bayer, BMW,,,

VeThor Project Development

VeChain introduces the VeChain dApp Kit, revolutionizing the landscape for dApp builders. The cutting-edge frontend library is meticulously crafted to simplify decentralized application (dApp) development on the VechainThor blockchain.

The comprehensive toolkit offers a host of features, including streamlined wallet management through Connex technology, aligning with VeWorld and Sync2. The 'vechain/dapp-kit-ui' library enhances user interface components, making wallet selection and connection more straightforward. Specifically catering to React developers, the 'vechain/dapp-kit-react' library integrates React hooks and components seamlessly with the dApp kit.

The dApp kit ensures broad language and framework support, encompassing TypeScript, Vanilla JS, React, Vue, Angular, Svelte, and Next.js. This flexibility ensures compatibility with various projects. Notably, the dApp kit is designed for customization and extensibility, allowing integration and support for all wallets with clear guidelines for adding new wallets through pull requests. As of today, the npm packages are open for general use.