What is VeChain VET Crypto | Price Prediction | Complete details in plain English

Cryptocurrency as an industry
is a tough nut to crack. It is quite difficult
to predict the future of the crypto project, which doesn't have
a real world use-case yet. Keeping this in mind, I have created
this video. I will discuss a coin which has a real world use case
and a good potential. Welcome to Katoch Tubes. I'm your host Paras and today I will talk about this coin which is right here
by the name VeChain VET token. I will talk about its use case, its
benefits and drawbacks, and much more. This coin has a real world use case and its already being used by the top
companies in their business operations. Before I start the video, if you're new to the channel,
do watch the complete video and check out the links which are shared
in the description, where I have shared all the content related to this project
and other crypto projects. Also, you can visit my website
which is Katochtubes.com and read everything
about any coin of your choice. Having said that,
it's time to start the video.

Before I take you through the topics that I am going to cover in this video,
you must comment below and let me know whether or not you are invested in VeChain
and what are your price predictions according to your analysis,
what do you think? Whether it holds potential or not? Having said that, let's talk about the topics that I'm
going to cover in this video. I will start with, what is VeChain? Then I will talk about, What is VET Coin? Difference between VET and VTHO The two tokens of VeChain. Next, I will talk about, How does VeChain work? And then I will talk a little bit into VeChain VET crypto ICO. Followed by, I will take you through
the benefits and drawbacks and then I will talk about the VeChain
VET price prediction. And finally, is VeChain VET token
a good investment or not? Let me start with what is VeChain?
VeChain is a blockchain project which was founded in the year 2015
by this guy whose name is Sunny Lu. He founded VeChain with one focus in mind and that is to make
supply chain more efficient. And with the inception of this project he's able to bridge the gap between
cryptocurrency and the real world.

This project has a real world application,
which means it helps to make supply chain more efficient,
more transparent and more traceable. With this core focus, here comes the VET token. VET is the utility token or you can say
the smart money of VeChain. The key features of VET token is
particularly on the governance part. It helps to maintain and secure
the network and also it acts as smart money for decentralized application
and help in transactions between the DAPPS. Apart from it. There's another token
which is VTHO i.e V-T-H-O. Now VET token and VTHO. Both have different use case. Many of the investors confuse
about these two tokens when we discuss VeChain. To simplify that I have made a quick table
to compare between VET token and VTHO, their actual use case
and their future prediction. So have a quick look at this table
before we move on with the next topics.

So I am comparing VET and VTHO
based upon the following parameters. Number one is primary use case. So, VET is
used for governance and value transfer. VTHO on the other hand is
used for paying for the gas fee. Number two, the total supply of VET is 86.7 billion and on the other hand
we have an unlimited supply of VTHO. That is quite natural because it is used
to pay for the gas fee on the network. The next comparison is volatility,
which means in VET it's very high and in VTHO it's quite low.
And the next is store of value. VET is a good store of value compared to VTHO, which is just a token
which is used to pay for the gas fee. So personally, I don't think it's a good store of value and also
its supply is unlimited. Next and final point is, possible
price appreciation.

If you compare these two tokens,
it is very clear that VET has a high chance of price appreciation
when compared to VTHO which is just used to pay for the gas fee and hence it has
a low possibility of price appreciation. So that completes the difference between VET and VTHO. Next,
I will talk about how does VeChain work? So VeChain particularly works on a proof of authority consensus mechanism in which
it has 101 trusted list of validators. Now each validator has a condition
and that is in order to become a validator,
you must hold a total of 1 million VET tokens and holding
VET tokens is not enough. You must reveal your identity if you wish to become a validator
and once you reveal your identity and you meet the criteria,
it's up to the VET team, the VeChain team that will identify or approve whether
or not you should become a validator.

So that's how VeChain works. Based on proof of authority
and verifying validators that holds 1 million VET tokens
with their identity revealed. That's the technical
side of how VeChain works. If you want to know how VeChain work on a real-time basis,
which means on day to day operation. You can read my post which is shared
in the description of the video and in that I have given an example
of a realtime scenario in which VeChain helps to make supply chain
more efficient and more transparent. Next, I will take you through VeChain ICO. So, VeChain launched its ICO in the year
2017 and raised a total of 200K or two lakhs Ethereum in value
by selling each token at a price of $0.0008. Now there is one thing that you need
to take into consideration, at the time of launch of VeChain VET
token, it was not actually VET token.

It was VEN token which is V-E-N. So, VeChain was originally based on the Ethereum blockchain before
moving on to its own blockchain. VEN was an ERC20 token of VeChain before switching to its own blockchain
and turning VEN into the VET token. This covers the details of ICO. Next I will talk about
the VeChain benefits. Number one benefit of VeChain
is real world use case. It is one of the few cryptocurrency
projects which has a real world use case. Many companies have deployed VeChain blockchain technology
to improve their supply chain management. There are very few projects that have a real
world use case, like you have one called Brave Browser BAT coin with a BAT token
which has again a real world use case just like VeChain but having
a different set of purposes. If you want to learn about Brave browser,
you can click on the link in the description or I will share
the card right above somewhere here. You can check that out. The next benefit is first mover advantage. VeChain has become one of the few projects that has a core focus
on supply chain management.

There is no competitor in its arena,
especially in the crypto industry, which is either matching
or competing with VeChain. The number three and most important benefit of VeChain is
strategic partnerships. It is able to gain strategic partnerships with the big players
in the mainstream industries. The top partnerships includes the likes
of Walmart, BMW, PwC and Louis Vuitton. Now coming to the drawbacks
of this project. Of course there are benefits, but there are some hidden
drawbacks of this project. The number one is competition
from the mainstream companies. So there are companies like IBM, SAP
which are already leading in the race of supply chain management and VeChain
is actually quite late to the party.

In fact, IBM working with the top
shipping giant which is Maersk. I hope I pronounced it correctly. It is working with the top companies and building its own supply chain system
and that can be a threat to the growth of VeChain which is just a baby
in the supply chain arena. The next drawback is
China ban against crypto. VeChain is based out in China
and any user who want to use the full potential of VeChain blockchain
has to hold VET tokens. Now this makes it difficult for the companies to hold a cryptocurrency
and use its technology. While the cryptocurrencies are being
banned in the main country which is China. And the next drawback can be
lack of global acceptance. The adoption rate of VeChain has actually slowed down after the onset of pandemic
and there is less demand of blockchain technology,
particularly in supply chain management.

So people or companies do not want to test new technologies and rather happy
to go with the old methods. That's one of the drawbacks and next I will talk about price
prediction of VeChain. So VeChain has its fair share of rise in the last bull run of 2021.
It rose to a level above $0.20 and at this time when we are talking,
it is already ranging in the range between $0.10 to $0.15. Now,
in the chart you can see on the screen with this chart, it is quite clear
that in the coming bull run, VeChain has high potential for growth.
So I won't be surprised given the price action that VeChain
should be able to touch at least in the range of $0.80
to $0.90 in the coming bull run. On a very positive side, it can actually cross $1 mark,
but that is a far fetched figure.

Because, I believe the VET token
is not much volatile in nature. That can make it able to cross $1 Mark. So I reserve my price prediction between
the range of $0.80 to $0.90 at the max. That's about the price prediction. The next and final point. Is
VeChain a good investment or not? VeChain has a real world use case. It's a crypto which is actually being rolled out in the market and performing
its operations efficiently. There is no hidden structure
behind the VeChain corporation. The company is stable
and also genuine in nature. If anyone wants to put their money
into this coin, they should be assured that this project
is going to stay for a longer time. Since Vechain has a lot of competition. But that also brings
a bigger room for growth. If you believe the blockchain project has the potential to change the supply chain
management and bring more efficiencies to the system, then you can go ahead
and park your money in the token. Otherwise, there are other cryptocurrencies which can be
invested in, to reap higher rewards. Particularly, I am neutral on this cryptocurrency
and because of low volatile nature, I won't be investing
in VET token, as of now.

What are your thoughts? Are you interested in this cryptocurrency? Comment below and let me know. This covers
my detailed review of VeChain VET Token. In the next video,
I will talk about a new coin. So do like and share this video
and I'll see you in the next video. Till then, take care and have a good day..

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