Frequently asked questions
VeChain is a blockchain platform designed to aid in supply chains. VeChain was introduced in 2015 by the former CIO of Louis Vuitton China. In the beginning, the token was based on the Ethereum blockchain, but that changed in 2018 when VeChain launched its own blockchain.
There are two tokens involved in the VeChain system. First, there’s the VeChain (VET) token, which transmits value. Second, there’s the VeChain Thor Energy (VTHO) token, which provides a smart contracts platform.
The two-token system acts as a stabiliser, so that dApp developers have a more predictable environment in which to create new software. VET is the token that is of greater interest for investors.
VET's price is based on supply and demand. If there are more people willing to buy than sell, its price will increase.
That said, it’s still a volatile digital asset, whose value is tied strongly to that of Bitcoin and the wider crypto market, and it’s prone to drastic fluctuations over time.
There are a number of other rival coins looking to occupy the same space, and appeal to dApp developers. The success of VeChain, and the price of the associated token, will be influenced in the long run by how those rivals fare.
Getting started with crypto can be hard. Our detailed price comparisons and cryptocurrency guides have you covered.