What is VeChain? Price, history, wallets [UPDATED Nov 2024]

VeChainVET0.032$ -1.58%

Enterprise supply chain network

53 Rank

2.62B$ Market Cap

54.83M$ 24H Volume

VET price live chart

0.032$-1.58%

VeChain Price statistic

VeChain price

0.032 $

Price change (24h)

1.58% 0.00 $

Trading volume (24h)

54.83M $

Market Dominance

0.078%

Market rank

#53

All Time High

Apr 19 2021 (3 years ago)

87.99% 0.27 $

Market Cap

2.62B $

Circulating Supply

80.99B VET

Download VeChain wallet app

Store & Transfer VET safely

Cropty is a convenient mobile app to store, transfer and receive VeChain safely. Cropty supports multiple networks and cryptocurrencies. Investing in VET becomes easy with Cropty wallet.

Monitor your VET balance in USD

You can track your VeChain value in 11 fiat currencies: USD ($), RUB (₽), EUR (€), INR (₨), THB (฿), KRW (₩), UAH (₴), GEL (₾), TRY (₺), GBP (£), BRL (R$).

Receive VET in BNB network

Cropty cryptocurrency wallet supports Bitcoin, Ethereum, BNB Chain, Polygon and Tron networks. To receive VeChain in Binance smart chain (BEP-20) network, just download the app, sign up and share your public address or QR-code with th sender.

Send VeChain by mobile phone number with 0% fee

No more confusion with crypto public addresses: in the Cropty cryptocurrency wallet you can send VeChain just by mobile phone number, QR-code and even a nickname! Make instant zero-fee VeChain transfers in your usual ways.

VET wallet mobile app for iOS and Android

Get access to VeChain right in your mobile phone or any browser. Cryptocurrency investments wallet is already available for Android and iOS. Download Cropty to invest in VeChain online.

VeChain basics

Name

VeChain

VeChain token type

Token name

VET

Token type

Native

Token uses

Payments

VeChain history and first price

Launch style

Crowdsale, Private Sale

When did VeChain launch?

The VeChain Foundation distributed its network's native token to private, enterprise, and crowdsale investors back in 2017. At the time, the token was an ERC-20 that ran on Ethereum. The team later discarded VEN in favor of VET when they launched a mainnet version of the VeChainThor blockchain. A token swap allowed holders to swap VEN for VET at an exchange rate of 1:100. VEN is no longer an active token.

VeChain initially minted 1 billion VEN tokens, which equates to 100 billion VET. The initial distribution of VEN (which in terms of percentages, is the same as VET) is as follows:

Private investors received 90 million tokens (9%); now 9 billion VET
Enterprise investors received 230 million tokens (23%); now 23 billion VET
Crowdsale investors purchased 277,162,634 VEN (27.7%); now 27,716,263,400 VET
The VeChain Foundation burned 132,837,366 VEN as part of the token sale refund process (13.3%)
Project team members received 50 million tokens (5%); now 5 billion VET
The Foundation gave themselves 220 million VEN (22%) for operations and development expenses; now 22 billion VET

How did VeChain come about?

VeChain is a multi-purpose enterprise blockchain for improving business operations and product tracking. VeChain blockchain development started in 2015 as a modified fork of Ethereum with a design focus on Internet of Things (IoT) and supply chain management. To date, VeChain has expanded their focus to multi-purpose functionality with customizable support for a range of enterprise uses. On-chain governance, cheap transaction fees, interoperability with non-blockchain technologies, and regulatory compliance are all priorities for VeChain core developers. VeChain wants to make all required information from manufacture to delivery (storage, transportation, and supply) available to all authorized parties for any enterprise business process that interacts with the VeChain Thor blockchain.

VeChain roadmap 2024

VeChainThor Mainnet Launch

June 2018 · Network Launch

VeChain Governance Charter

November 2019 · Governance

Specified the scope of fundamental subjects that require all stakeholder voting Redefined the categories of stakeholders with voting authority as Authority Masternode, Economic X Node and Economic Node Adjusted the voting authority model according to the new stakeholder categorization Streamlined stakeholder voting procedure Introduction of VeVote platform

Introduction of the Sync 2

January 2021 · Network Update

Designed for compatibility with all mainstream web browsers, increasing accessibility of dApps Simplification of dApps and dApp usage through a consistent user experience across different OS and devices

VeChain technology explained

VeChain’s blockchain is built on a modified version of the Ethereum codebase. VeChain optimizes its blockchain (called Thor) for enterprise use cases. Thor is the core of the VeChain blockchain, which functions as a basic layer for message exchange, key management, and data storage. Business applications can be built on top of Thor for smart contract creation and data auditing. VeChain plans to develop Thor smart contract development with visualization tools and support for multiple languages.

VeChain IDs are a key component of the VeChain blockchain. Physical good tracked with VeChain are assigned digital identities created with a SHA256 hash and tracked with NFC, RFID, and QR codes.

VeChain uses a Proof of Authority (PoA) consensus mechanism that relies on masternodes to validate transactions. Authoritative masternodes are selected by the VeChain Foundation and the VeChain community after Know Your Customer (KYC) processes.

VeChain’s blockchain circulates two tokens. The first, VET, is the network’s primary medium of exchange for governance and payments. The second, VeThor (VTHO), is a token for a lower transaction fee model that is credited to VeChain users daily based on the amount of VET they hold. VeThor is used to executing smart contracts and transactions on the VeChain blockchain.

VeChain blockchain users are categorized as users and service providers. VeChain users include manufacturers, retailers, consumers, and other enterprise clients. Service providers build specific applications on the network like smart contracts and other blockchain-based software applications.

VeChain core contributors

Individuals

Companies

Bin Qian

Chief Blockchain Developer at VeChain

Chin Qian

VP of Sales and Channel Lead at VeChain

Flora Wang

Chief Human Resources Officer at VeChain

Jay Zhang

CFO at VeChain

Jerome Grilleres

Europe Community Manager at VeChain

Jianliang Gu

CTO

Jie Zhang

CFO

Kevin Feng

Advisor

Mike Zhuang

Partner and Chief Strategy Officer at VeChain

Noah Huo

PR and Community Director at VeChain

Peter Zhou

Chief Scientist at VeChain

Richard Fu

Partner and Vice President at VeChain

Sarah Nabaa

Singapore Community Manager at VeChain

Scott Brisbin

General Counsel at VeChain

Sunny Lu

CEO

VeChain Foundation

VeChain supply limit

General Emission Type

Fixed Supply

Precise Emission Type

Secondary Token Issuance

Is capped

Yes

Max supply

86716263400

VeChain supply curve details

VeChain created a total of 1 billion VeChain (VEN) tokens. Of the total supply, 41% (410.0 million VEN) was sold in a public sale with a smaller 9% (90.0 million VEN) sold during a related private sale. Enterprise investors were allocated 14% of tokens (140.8 million VEN). The team received 5% of tokens (50 million VEN) which remain locked and 12% of tokens (120 million VEN) were set aside for ongoing operations.

Following the token sale, VeChain was required to refund Chinese citizens that participated in the token sale leading them to burn 13.3% of the total token supply (132.8 million VEN) reducing the maximum supply to 867.2 million VEN.

On Dec. 13, 2019, an attacker stole approximately 1.16 billion VET tokens from the VeChain Foundation's "buyback address." The Foundation attributed the cause of the hack to the negligence of its own staff and proceeded to have exchanges blacklist the addresses associated with the stolen funds.

Who funds VeChain core development?

FutureCap

Whales Capital

Whales Capital is a professional Venture Capital fund which mainly focuses on Blockchain. We are seeking companies or projects with big market, leading technology and talented team. We believe in value investment and empowerment investment. We grow together with the projects we invested and provide a lot of resources for them after investment.

Visionz Capital

Visionz Capital is a crypto asset fund that aims to deliver outsized absolute real returns. We hope to invest and support innovative blockchain projects with the potential to impact the world positively. By applying a rigorous fundamental research framework, we aspire to identify the future market leaders and create asymmetric returns.

Token Research Group

We are a group of blockchain enthusiasts, passionate about bringing transparency to the industry. Our analysis assists a wide range of investors, from those entering the crypto space to more established investors. Our specialist research and deep experience in the crypto market provides the fundamental due diligence on Blockchain projects, which is essential for making informed financial decisions.

RocketFuel

RocketFuel consists of top minds from cutting-edge companies such as Snapchat, Salesforce, Uber, Airbnb, Accenture, McKinsey and more. Our talent, graduates from MIT, Columbia, and UC Berkeley, have years of industry leadership in their respective fields. In a landscape where people throw money at problems, we like to provide strategic, value-add opportunities in business strategy, product, marketing, blockchain implementation, recruiting, and more in order to help our investments succeed. Our value to the cryptocurrency space is extensive and we can help your brand with more than just capital.

Parallax Digital

Parallax Digital is a professional services firm specializing in cryptoasset investments, blockchain consulting and token generation events. Parallax Digital has been involved in the crypto space since 2015 and operates SEC registered hedge funds focused exclusively on cryptoassets.

ONEBOAT CAPITAL

ONEBOAT CAPITAL is an international investment corporation in Fin Tech industry. “ONEBOAT” implies uniting all efforts in a concerted effort and empowering the next generation to innovate in the future. ONEBOAT CAPITAL was established in 2017 and now own a leading position with its keen market insight and the teamwork spirit in times of trouble,ONEBOAT CAPITAL have invested in hundreds of outstanding Fin Tech companies by focusing on their long-term investment value.

Myriad Capital Management

Myriad Capital is a thesis driven crypto fund. We invest exclusively in cryptoassets. We offer investors venture capital economics with public market liquidity. We're generally recognized for our deep technical expertise and rigorous fundamental analysis. Our goal is to gain exposure to the many facets of this blossoming, game changing technology through a blend of long and short-term fundamental cryptocurrency and ICO investments as well as generating passive income via Proof of Stake and Masternode exposure.

LD Capital

Kosmos Capital

Kosmos Capital is the leading and largest Australian based multi-strategy VC firm specializing in blockchain-based assets.

Hash Capital

Hash Capital is a leading global venture capital and asset management organization covering venture capital, consulting research and asset management.

Gama Capital

Gama Capital is a type of blockchain industrial fund established at the beginning 2018. Its capital investment portfolio covers all developing stages of blockchain industry, vertical industries, regions and commercial modes, including tracks such as basic chain, Internet of things, supply chain, cross-border remittance, traceability, enterprise level application, etc. Our concept is to realize linking in the global blockchain ecosphere by laying out the blockchain enterprises worldwide.

Aenigma Capital

Aenigma Capital is a blockchain and ICO Investment fund that combines the expertise of veteran crypto investors, venture capitalists, startup founders, engineers and token economists

FlyFuture Capital

FLYFUTURE CAPITAL is a venture capital focusing on empowering and investing blockchain projects that can creatively and continuously help solve human society problems.

Fenbushi Capital

Fenbushi Capital is the first China-based venture capital firm that exclusively invests in Blockchain-enabled companies.

Draper Dragon

We are a sector agnostic early stage fund. We look for companies with innovative technologies and business models with market appeal in Silicon Valley and in China. With our unique depth of experience and knowledge, our team can add value and resources in a broad manner. We are headquartered in Silicon Valley and have management and consulting offices in Shanghai, China.

Digichain Capital

Digichain Capital, with a team experienced in both traditional and digital finance, is exclusively focused on investing in blockchain technologies. Digichain Capital manages two funds: investmet fund and venture capital fund.

Cipher Ventures

Blockchain Venture Studio in today’s rising digital generation. Through our partners’ past experience in bootstrapping and scaling up digital ventures, we aim to open up the Southeast-Asian market through digital.

ChainPE

The partners of ChainPE is composed of experts from various area in the blockchain industry, who are successful entrepreneurs and investors. We are committed to invest and support high-growth blockchain projects around the world, including equity investment, software and hardware, and crypto-currency mining, etc.

ChainLinker

As a company which focuses on investing in the blockchain industry, ChainLinker Capital has been timely following the evolution of the latest global technology trends, exploring projects with good potentials and providing investments and consultative supports for the outstanding start-up teams. ChainLinker Capital has professionals with long duration of working experience in industries such as blockchain, venture capital, academic/industrial research as well as management. Our team is looking for the most promising projects with high standards and promoting the popularization of blockchain technology through long-term value investing. ChainLinker Capital’s team members are currently ‘decentralized’ to work across the globe, with branch offices in Beijing, Shanghai, New York and Los Angeles. Our team delivers long-term value investment in high-quality global projects by having our own selection, research, decision-making and risk management systems.

ChainFunder

Chainfunder is a pioneer venture capital firm which focuses on investing in blockchain enabled companies.

BlockAsset Ventures

We leverage our years of experience in the digital asset space and our strong industry relationships to co-invest in a portfolio of leading digital assets.

Block VC

BlockVC is a leading blockchain investment and digital asset management firm. Our mission is to bring blockchain into mainstream. BlockVC provides support and services of finance, technology, strategy and compliance for projects.

Badwater Capital

Investing in Fun and Bold Ideas. We invest in and advise blockchain teams we think are a little crazier than the rest.

USD to VET converter

USD

VET

VeChain consensus

General consensus mechanism

Other

Precise consensus mechanism

Proof-of-Authority

Targeted block time

0.17 min

VeChain governance

Onchain governance type

No On-Chain Governance

What is VeChain governance?

VeChain official links

VeChain blockchain explorers

VeChainThor Blockchain Explorer

VeChain Stats

Vechain Explorer

Insight

FAQ

1.What is the best app to store VeChain?

Store VeChain with Cropty cryptocurrency wallet by 3 simple steps:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account with Face ID or Touch ID security options.
Transfer VET from external wallet.

2. How can I receive VeChain?

Receive VeChain to your Cropty wallet by QR-code, phone number, e-mail and nickname:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account, set up a nickname.
Click ‘Receive’ and follow the instructions.

3. How can I store VeChain safely?

You can transfer your VeChain holdings and store it safely with Cropty wallet. Cropty secures safety of your holdings through various verification options like using password, authenticator app, Face ID, Touch ID and backup codes. You can be sure no one can get access to you VeChain holding except you.

4. How to start investing in VeChain easily and securely?

Start investing in VeChain with Cropty cryptocurrency wallet by 3 simple steps:

Download the app from the Apple AppStore or Google Play, or open your browser wallet.
Create your Cropty wallet account, set your authentication settings.
Transfer VET from external wallet.

5. Why should I choose Cropty to store and transfer Bitcoin?

The Cropty wallet provides the most convenient application for storing and transfering VeChain. Cropty targets to become one the best crypto wallets for Android and iOS in 2024. Cropty provides convenient application and secure custodial services, built for crypto beginners, as well as for crypto-savvies.

6. How can I receive VeChain as payment?

You can receive VeChain as payment in Cropty wallet. It is a convenient mobile app to receive, store and transfer VeChain VET safely and instantly. Open Cropty app, click ‘Receive’, follow simple instructions and get your VeChain holdings immediately.

7. How can I receive VeChain donations?

You can receive VeChain donations instantly with Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Receive’ and follow simple instructions. Share your address with someone who wants to donate you in crypto.

8. Can I send VeChain without verification?

9. How can I send VeChain without fee?

You can send VeChain instantly without fee in the Cropty wallet. Download Android or iOS app or open the web version, sign up, click ‘Send’, choose ‘Send via e-mail, phone number or nickname’ and follow simple instructions.

10. How to make money with VeChain?