Current VeThor Token Price Insights
Understanding the VeChainThor Blockchain
The VeChainThor public blockchain operates using a dual-token system, with VeThor Token (VTHO) being one of its key components. Initially launched in 2015, VeChain underwent a significant rebranding in 2018 to enhance its identity and functionality. While VeChain Token (VET) serves as the primary token for the platform, VeThor Token plays an indispensable role in the seamless operation of the blockchain ecosystem.
Role of the VeThor Token
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The VeThor Token is pivotal to the VeChainThor blockchain, functioning as a VIP-180 Standard token that represents the cost associated with utilizing the platform. It primarily facilitates transactions and processes within the blockchain, effectively serving as the network’s smart contract layer. This unique dual-token system allows participants to engage with both VET and VTHO, offering diverse opportunities for involvement in the project.
The Visionary Behind VeChain
VeChain was founded by Sunny Lu, who currently serves as its CEO. Lu’s career trajectory has been marked by notable shifts. In 2009, he embarked on his professional journey as the IT Manager at Bacardi China. A year later, he transitioned to the fashion industry, becoming the Chief Technical Officer for Louis Vuitton China. By 2014, Lu had advanced to the Chief Information Officer position within the company’s IT division for its Chinese operations.
The Unique Bi-Token Model
The VeThor Token’s distinction as a VIP-180 Standard token underscores its uniqueness. While VeChain Token (VET) is the primary token for value transfer, VTHO is integral to the VeChainThor blockchain’s functionality and cannot be disentangled from it. This innovative bi-token model empowers traders to engage with both tokens, enhancing their participation and investment options within the ecosystem.
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Further Reading
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