**VeChainThor (VET): A Blockchain Platform for Enterprise Solutions** VeChainThor (VET) is an enterprise-grade Layer 1 smart contract platform with origins dating back to 2015. Designed to bridge blockchain with real-world applications, VeChain leverages distributed ledger technology, IoT solutions, and NFC chips to address data-related challenges across industries. The platform tackles key barriers to blockchain adoption through its dual-token system—VET and VTHO—which separates store-of-value functions from gas fee payments, ensuring cost efficiency and stability. Additional features include fee delegation, allowing smart contracts to cover transaction costs for business users, and an optimized transaction model that enhances data efficiency while maintaining immutability. VeChain is expanding its ecosystem with **VeBetterDAO**, a platform focused on sustainability-driven decentralized applications. In collaboration with Boston Consulting Group, VeBetterDAO aims to accelerate adoption among enterprises and individual users, supporting broader Web3 integration. With proven use cases in supply chain management, sustainability, and beyond, VeChain remains a leader in real-world blockchain adoption, reinforcing its commitment to advancing enterprise-grade decentralized solutions. VeChain was created by Sunny Lu, an IT executive and former CIO of Louis Vuitton China, who co-founded the project. Lu has gained recognition in the cryptocurrency space for advocating blockchain’s potential to enhance transparency. He emphasizes how the technology can enable "trust-free" business models by preventing information manipulation. VeChain collaborates with auditing and certification firms like PriceWaterhouseCoopers and DNV to verify data integrity and validate industrial processes. Jay Zhang, another co-founder, oversees VeChain’s corporate structure, governance, and financial operations. Before joining VeChain, Zhang held roles in finance and risk management at Deloitte and PriceWaterhouseCoopers. Launched in 2015, VeChain is one of the earliest smart contract platforms, earning a strong reputation among enterprise clients. VeChain aims to transform traditional business models, particularly in supply chain management—an industry that has seen little innovation in decades. The platform provides a decentralized trust layer for multi-party ecosystems, serving high-profile clients and government entities with proven success. By leveraging transparent technology with no single point of failure or control, VeChain enhances security, efficiency, and data tracking while reducing costs through trustless automation via smart contracts. Industries such as carbon management, supply chain, logistics, incentivized ecosystems, and automotive record-keeping benefit from its digitized trust and collaboration solutions. VeChain’s platform is designed for broad adoption across diverse industries. Its unique dual-token system, combined with features like fee delegation and the ToolChain platform, allows businesses to utilize blockchain-as-a-service without direct cryptocurrency exposure. Companies can pay in fiat while smart contracts manage gas fees, ensuring seamless network access even in regulated environments. The platform’s focus on practical enterprise adoption sets it apart in the blockchain space. VeChain IDs serve as a fundamental feature of the VeChain blockchain, providing a unique identifier for each product. By utilizing sensors, the platform tracks every stage of a supply chain, creating a secure environment where movement data is recorded and verified for all participants. The core objective of VeChain is to establish authenticity and quality assurance for physical products while combating fraud. The platform aims to supply stakeholders with detailed insights into products and business operations, enhancing market transparency and promoting fairness and efficiency in global trade. Major corporations such as BMW, LVMH, and Walmart are among VeChain's clients. VeChain's software enables enterprise developers to build and deploy decentralized applications (dApps). By leveraging VeChain’s blockchain, businesses can integrate dApps to improve the quality of their services and products. The project also incorporates proprietary solutions, including ToolChain, My StoryTool, the VeChainThor blockchain, and Internet of Things (IoT) technology to streamline operations. VeChain utilizes a dual-token system consisting of VeChain (VET) and VeThor (VTHO). This structure is designed to maintain stable transaction fees and reduce network congestion. VET serves as the primary token for transactions and platform activities, while VTHO functions as a "gas token" to facilitate fee payments—similar to how gas operates in Ethereum transactions. VET holders passively earn VTHO over time, and 70% of the VTHO spent in transactions is permanently removed from circulation. The total supply of VET is capped at 86,712,634,466 tokens, with VTHO generation directly tied to VET holdings. Current circulating supply data can be tracked through VeChainStats. (Note: Time-specific references and external links have been removed to maintain an evergreen format.) VeChain (VET) is a Proof of Authority (PoA) token that requires significantly less computing power to secure its network compared to protocols like Bitcoin. According to a report, VeChain's annual carbon footprint is minimal, representing just 2.4% of the emissions generated by mining a single Bitcoin. This highlights the efficiency of PoA as a consensus mechanism for network security. Proof-of-Authority is a process where selected authority masternode operators, chosen by an independent Steering Committee, are granted the responsibility to maintain the network. This model appeals to enterprises seeking guarantees about validator integrity and the ability to remove bad actors if necessary. *(Note: The external link to the CTI report has been retained as it provides verifiable data, while the link to the glossary term has been removed to maintain neutrality.)* VET is a freely-tradable token available on major exchanges, and VTHO also has active markets. VET is traded on platforms such as Binance and Huobi Global, with trading pairs against cryptocurrencies, stablecoins, and fiat currencies. For those new to cryptocurrency and interested in learning how to acquire Bitcoin (BTC) or other tokens, additional resources are available. The VeChain ecosystem operates on its own blockchain called VeChainThor. This platform is designed for business applications, supporting smart contracts and data auditing. Built on a modified version of Ethereum's codebase, VeChainThor enables transactions to perform multiple operations simultaneously. As a public blockchain, it allows businesses to deploy the technology globally. VeChainThor provides a scalable and sustainable framework for companies to develop decentralized applications (dApps) tailored to their needs. VeChain's blockchain aims to enhance business management by improving transparency in information sharing. The platform utilizes distributed ledger technology to optimize operations and manage complex data flows efficiently. VeChainThor employs a proof-of-authority (PoA) consensus mechanism, which uses masternodes to track transactions and regulate workflows. This approach emphasizes transparency, accountability, and network security while enabling fast transaction processing, cost efficiency, and verified node participation. The ecosystem uses two native cryptocurrencies: VET and VTHO. VET serves as the primary payment token within the network and grants holders voting rights on protocol changes. It also plays a role in generating VTHO, which is used to cover transaction costs. The dual-token system helps separate VET's price volatility from network computation fees, ensuring stable transaction costs. Together, these tokens support both project financing and blockchain operations. VeChain has introduced VeBetterDAO, a sustainability-focused dApp ecosystem driven by community stakeholders. The platform operates on an X-2-Earn model, incentivizing users for participating in sustainable activities. The VeChain Foundation collaborates with Boston Consulting Group to advance this initiative. Together, they published the *Web3 for Better* whitepaper, outlining their vision for leveraging Web3 technology. VeChain aims to attract a billion users to Web3 by 2030, targeting both individual and enterprise adoption through this ecosystem.