VeThor (VTHO) Cryptocurrency
VeThor (VTHO) is one of two cryptocurrencies developed by the VeChain Thor blockchain, which operates as a BaaS (blockchain as a service) network. VTHO is not the only token, together with the VET token they form a dual token system that is designed to improve the efficiency and stability of enterprise users. The project provides businesses with an environment to implement RFID trackers, QR codes and NFC chips. for IoT (Internet of Things) devices on the blockchain. For all these purposes, the payment method that businesses use on the VeChain Thor blockchain is the VeThor Token (VTHO), and it is used to cover transaction fees. In other words, VTHO operates as a smart contract layer that allows users to perform multi-task transactions and initiate multi-party payments.
VeThor (VTHO) Project Overview
The VeChain Thor platform was founded back in 2015 by Sunny Lu, who is also the current CEO of the company. Later in 2018, the company was rebranded and a new idea of a two-token network was implemented. At that time, the VeThor (VTHO) token was created.
Benefits of VeThor (VTHO)
The VeChain Thor blockchain plays an important role in helping businesses around the world be transparent to build better relationships with their customers. The VeThor token offers many benefits.
- VIP-180 standard. VeThor (VTHO) is a VIP-180 standard token that is considered an add-on to the ERC-20 standard. It provides efficient functionality and can be used securely on other third-party networks.
- More efficient and faster operations. VeThor token makes performing various operations more efficient and faster.
- Stable transaction costs. The main purpose of having two different tokens on the same network is to maintain relatively stable transaction fees.
Along with the advantages, the VeThor (VTHO) token also has disadvantages.
- Semi-centralized platform. The development of the cryptocurrency and the entire platform is controlled by certain stakeholders and members of the central committee. The platform's core can make important decisions at any time, such as changing its monetary policy. According to the founders, they are trying to achieve the perfect balance between decentralization and centralization, but this goes against the core principles of cryptocurrency.
- The need for greater adoption. The project promises to solve many of the problems that exist in the Ethereum blockchain for enterprises, but its value may not grow unless it is widely adopted.
