VeChainThor has been around since the dawn of cryptocurrencies and blockchains. This is not without reason as Sunny Lu and his team has always been able to stay on top of the crypto league regarding development, innovation, and adoption.
While the past years, VeChain has mainly focussed on creating solutions for real-life cases based on their technology to discover whether items and products are either legitimate, high quality, or counterfeit. Nowadays, we can see that the focus has been shifted more towards the community. Allowing the community to build on the VeChainThor network via application hub, bounty programs, and several web development builders. Although the actual token price hasn’t seen much action lately, we do believe it is important to sometimes stand still and take another look at this project to realize it still is an undervalued gem.
Globalization has made the world’s major economies grow at an incredible speed.
Due to this rapid economic growth, new problems have arisen. Some side effects of mass production are environmental harm, quality loss, and viruses/diseases. In addition, there are a lot of individuals and companies who try to benefit from the modern-day huge industries by mass producing fake products, often produced in unethical and unhealthy ways to guarantee low costs.
VeChain and VeChainThor have set up innovative business processes and logistics tracking using QR codes combined with blockchain technology to verify and track items and shipments. Vechain’s primary goal is to make verification processes and the information flow more efficient for multifaceted supply chains through the procedure of their Distributed Ledger Technology (DLT).
Although VeChain’s core business is reason enough for any crypto investor to hold a bag of $VET tokens, there are other reasons why it is worth it to make an investment.
There are several ways to gain “dividends” in the form of crypto tokens by simply holding $VET in your portfolio.
By holding $VET you will gain approximately 0,000432 $VTHO per VET per day. The $VTHO token stands for VeChainThor Energy and is also known as VeThor Energy. It is used to power transactions on VeChain and is equal to the cost of conducting transactions on its blockchain. Therefore, holding $VET will slowly get you the needed funds to make future transactions, meaning that transaction costs are almost always covered by simply holding $VET.
There are several liquidity farms that you would be able to enter via so-called LP tokens. LP tokens stand for Liquidity provider tokens, these are issued to liquidity providers on a decentralized exchange (DEX) that runs on an automated market maker (AMM) protocol. This basically means that you will stake your $VET tokens on a platform that will use your tokens as liquidity for investors who are making trades. You are then rewarded in the platform’s native token. The APY (Annual percentage yield) is often higher than the $VTHO yield that you receive for simply holding your $VET tokens on an exchange or inside a wallet.
Nodes form the foundation of the blockchain. They are the combined servers of all the blockchain “users” which shapes the foundation and storage of blockchains. All nodes are perfectly connected to each other and communicate with each other forming a huge, continuously updated network. Although a growing number of Blockchain users equals a growing number of nodes, blockchains have found that further increasing the number of nodes has a positive impact on their blockchain. Resulting in a faster block validation process, verifying transactions, and storing updated copies of the blockchain.
Therefore, there are several protocols that have started paying users to hold an x number of nodes. Also, the VeChainThor network started with the provision of a variety of nodes such as “Authority Nodes”, “Economic Nodes”, and “X Nodes”. Now, since the launch of these VeChainThor nodes, we have read mixed reviews concerning the effectiveness of these nodes. It is always recommended to do your own research before you decide to purchase any product or service.
VECHAIN NFT PLATFORM | VESEA
There are lots of NFTs being launched on VeSea, the NFT marketplace of the VeChainThor network.
NFTs are a hype born in COVID times and are still going strong nowadays. NFTs make up for great investment opportunities to either quickly make a buck, join cool communities, or receive long-term benefits. Projects like VPunks, VIMworld and VeKings have been successful NFT projects with an impact on $VET. New revolutionary projects like VeNodes are also coming to the VeChain network. VeNodes will intend to combine the power of Nodes and NFTs to make nodes accessible as an investment for everyone.
VeChainThor is well-known for its incredible number of partners. Networking is an important asset within any industry, and VeChain seems to be doing a great job. In addition, the partners are from all over the globe. It’s known that VeChain has large exposure in Asian markets.
Looking at VeChain’s intrinsic value we can easily state that, according to our opinion, with the current price of $0.06609 (CoinMarketCap 10-4-2022), buying a bag of $VET tokens now, would be a great investment.