VeChain (VET) is the native cryptocurrency of the VeChainThor blockchain, a Layer-1 platform designed to revolutionize supply chain management and enterprise adoption of blockchain technology.
Launched in 2015 by Sunny Lu, a former CIO of Louis Vuitton China, VeChain transitioned from an Ethereum-based ERC-20 token (VEN) to its own mainnet in 2018, cementing its position as a leader in real-world asset (RWA) tokenization.
As of March 2025, VeChain boasts a market capitalization of approximately $4 billion, reflecting its steady growth and adoption across industries like logistics, luxury goods, and agriculture.
VeChainThor operates on a dual-token system: VET for value transfer and governance, and VTHO (VeThor Token) for transaction fees, ensuring predictable costs for enterprise users.
Built on a Proof-of-Authority (PoA) consensus mechanism, it achieves scalability with a throughput of 10,000 transactions per second (TPS) and sub-second finality, outperforming many competitors in practical use cases.
Its integration of IoT (Internet of Things) devices—such as RFID tags and NFC chips—enables seamless tracking of physical goods on-chain, from production to consumption, enhancing transparency and combating counterfeiting.
VeChain’s ecosystem has flourished with high-profile partnerships, including collaborations with BMW, Walmart China, and DNV GL, which leverage its blockchain for supply chain optimization and carbon tracking. In Q1 2025, VeChain introduced its "ToolChain 2.0," a no-code platform that empowers businesses to deploy blockchain solutions without technical expertise, further democratizing access.
This innovation has spurred adoption, with over 300 enterprise clients and 2 million daily transactions recorded on-chain as of March 28, 2025. Additionally, its carbon credit marketplace has gained traction amid global sustainability efforts, aligning with regulatory shifts in the EU and Asia.
Trading at $0.045 as of March 28, 2025, VET has seen a 5.7% increase in the past week, driven by renewed interest in RWAs and tokenized ecosystems.
