VeThor is one of two cryptocurrencies developed by the VeChain Thor blockchain, which operates as a BaaS network. In this article, as Koindeks.com, “What is VeThor?” We will answer the question. In addition, we will touch on other issues that are curious about the project.
What is VeThor? What’s the use?
VeThor Token (VTHO) is a module 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. The VeChain Thor network is an environment for implementing NFC chips, QR codes and RFID trackers for the corporate Internet of Things on the blockchain.
VeThor Token is the main payment system in the VeChain ecosystem. It also represents the gas currency of the network in one-to-one time. VTHO is required for every process done on the network. It is also used to send data to smart contracts. All processes and smart contract processes are carried out using VeThor Token.
In essence, 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 run multitasking processes.
What is VTHO coin?
This coin is VeThor’s native token. VeThor Token is used to initiate processes on the network. Users can only use smart contracts. Also, VET token is the main tool of costly transfer while you can process with VTHO. VeThor Token is produced by holding VET at a predetermined rate. At one-on-one time, network participants can use smart contracts to pay process prices and prices.
How does VeThor work?
VTHO and native token VET are part of the dual token infrastructure that allows users to enjoy fast processes and operations for enterprise services on the BaaS platform. A single process with smart contracts or processes 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. Thus, you can earn VTHO by holding a VET balance. The relationship in the middle of the two tokens is mutually dependent, so without VET there is no VTHO and without VTHO there is no way to pay for VET processes.
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 trading on numerous cryptocurrency exchanges. Individuals who want to invest in the project should open an account in one of the exchanges where the project is processed. The exchanges that VeThor processes 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.