VeChain (VET) Price – Current Live Value

VeChain (VET)

VeChain (VET) was launched in 2015 (the coin was originally known as VEN) as a cryptocurrency and platform for supply chain management. This platform is intended for users to develop blockchain-based applications that track the location and state of products to enhance corporate logistics. The platform is based on the Ethereum blockchain, and uses a Proof of Stake (PoS) protocol based on holding the VET tokens to gain priority in using the blockchain to process and store data. Although use of the VET coin is limited to the platform, it can be traded on a number of major cryptocurrency exchanges,

The value of VeChain has remained mostly muted since its launch as the VEN coin in 2015 and subsequent rebranding in 2018. The digital currency did see a significant value increase during the 2018 crypto boom, but not to the degree observed in most other coins. It is currently a top 30 cryptocurrency by overall market cap.

VeChain has a strong record of successful real-world applications, including a major joint venture with a Chinese provincial government during a disaster relief project. The platform's focus on supply chain management makes it one of the few specialist blockchain projects dealing in this area, which means that further widespread adoption by interested organizations is likely.