VeThor is one of two cryptocurrencies developed by the VeChain Thor blockchain, which operates as a BaaS network. In this article, “What is VeThor?” We will answer the question. In addition, we will touch on other questions about the project.
What is VeThor? What does it do?
VeThor Token (VTHO) is part of the dual token system of the VeChain Thor blockchain. The project plays an integral role in the functionality of the network. The VeChain Thor network is a BaaS platform that facilitates services for enterprise users using smart chips. VeChain Thor network is an environment for implementing NFC chips, QR codes and RFID trackers for enterprise Internet of Things on blockchain.
VeThor Token is the main payment method in the VeChain ecosystem. It also represents the gas currency of the network. VTHO is required for every operation done on the network. It is also used to send data to smart contracts. All transactions and smart contract transactions are handled using VeThor Token.
At its core, VeThor Token is a smart contract layer and VIP-180 standard token. With the use of VTHO tokens, the network enables users to initiate multilateral payments and execute multitasking transactions.
What is VTHO coin?
This coin is VeThor’s native token. VeThor Token is used to initiate transactions on the network. Users can only use smart contracts. Also, the VET token is the main vehicle for value transfer while trading with VTHO. VeThor Token is produced by holding VET at a predetermined rate. At the same time, network participants can use smart contracts to pay transaction fees and fees.
How does VeThor work?
VTHO and native token VET are part of the dual token infrastructure that allows users to enjoy fast transactions and operations for enterprise services on the BaaS platform. With smart contracts or transactions, a single transaction cannot exist without VTHO, while VTHO cannot exist without VET.
VET tokens are used to generate VTHO, where VTHO represents the cost of using VeCahin Thor and VET is subject to market speculation. VTHO is formed by holding VET. So you can earn VTHO by holding a VET balance. The relationship between the two tokens is mutually dependent, so without VET there would be no VTHO and without VTHO there would be no way to pay for VET transactions.
The number of VTHO you will receive depends on the number of VET tokens you own. With each new block created in the network, the system generates 0.00000005 VTHO per one VET held by users. A block is created every 10 seconds, so a user with 1 VET in their account can earn 0.000432 VTHO per day.
What is VeThor? How to get VTHO coins?
VeThor is currently traded on numerous cryptocurrency exchanges. People who want to invest in the project should open an account in one of the exchanges where the project is traded. The exchanges where VeThor is traded are listed as follows: Binance, MEXC, Gate.io, Bitrue. Users who want to invest in the project should open an account on one of these exchanges.
