hello and welcome in this video we talk about
vehcain what it is and how it works, watch the video to the end to find out our price
target, which could really surprise you. Vechain is a blockchain that aims to
provide a solution for monitoring products along the supply chain, through the
use of technologies such as e nfc or qr code, combined with smart contracts. With this ecosystem,
vechain wants to become the reference point for global industry in order to create a
distributed information chain capable of validating the authenticity of each industrial product,
all without the need for centralized controls. But how exactly ve chain works
, well let's take an example right away. Let's take a branded bag for example. That From the moment it is
first produced until the moment it reaches into the hands of the customer, the bag is traded
between many parties.
And it is not certain that the original product always arrives at the customer as
large companies rely only on the trust of third parties to deliver the product.
To put things in perspective, the luxury goods industry alone sees
an annual loss of $ 450 billion from tampering and other issues.
With VeChain all this can be solved. Thanks to a real chip inserted
into products with which it is possible to track the products there is no
way that the authentic product gets lost somewhere in the supply chain and the
end user gets a fake product. Ve chain is also useful
for the world of logistics In fact, it will be enough to scan the
product to obtain all the preliminary information.
time in the logistics industry. born in 2015 as an erc20 token on the
ethereum blockchain in 2018 vechain created its own blockchain a
unique and very different blockchain from other blockchains.
It is very fast and infinitely scalable.
Thanks to the system chosen by VeChain which is called Proof of Authority, and it is a system that
allows you to verify transactions thanks to masternodes, in fact if in a
proof of work blockchain like that of bitcoin anyone can become a node by participating in the right
to confirm transactions To become a masternode within VeChain you need to block
an important amount of tokens about 25 million vet which would be about 2 million
dollars nowadays and above all verify your identity. In fact,
the VeChain managers subsequently also take care of verifying the identity of those who try to
participate as a super node. This makes super nodes particularly reliable, even if it
plays against decentralization. In fact, by many vechians it is also seen as a
blockchain that is not completely decentralized as the power to
confirm transactions is in the few hands.
Ve chain is a
non-mineable cryptocurrency has an outstanding supply of 65 billion and currently
the price hovers around $ 0.08. In 2018 the team also launched
a second token called vethor chi which is used only as gas fees on the
vechain blockchain, i.e. it means that any transaction (sending of tokens to execute a
smart contract will have to be paid in VTHO. Which is generated by
everyone who owns VET, in fact, for each vet held in
my own ledger or on an exchange , 0.00043 vethor are created every day that
can be used as and when you want.
only gas fees
such as ethereum's gas fees. The vechain team also stated that they
want to keep the price of vethor stable to help companies take advantage of the platform and
execute smart contracts with fixed prices. founded by the Chinese company bitse based
in Singapore nowadays vi vechain has started to spread a lot
in European countries too, and in the ult In the last few years it has also entered into important partnerships such
as with walmert china, bmw, d'Eliot and caffa.Personally, I believe that ve chain in the future can
go up a lot as its platform can be used in light sectors such as
clothing, cars, watches and food.
And in the future,
companies such as amazon and Apple may also be interested in the vechain platform. our price target for
vechain in 2022 is $ 0.40 let us know in the comments what you think
about vechain and remember to like the video and subscribe to the channel
so as not to miss the next videos. I remind you as always that I am not a
financial advisor and these are not investment advice, this video is
for informational purposes only, hello and good investment