VeChain's last recorded price was $0.01 on October 30, 2026, when it ranked #103 by market cap.
VeChain is a unique blockchain platform designed to enhance the use of blockchain technology across various industries, with a particular focus on supply chain organizations. The platform addresses common issues such as lack of transparency and integration of financial and logistical services in businesses.
The VeChainThor Blockchain
The public blockchain, VeChainThor, serves as the foundation for an expandable enterprise blockchain ecosystem. Unlike Ethereum-based applications, which face challenges in governance framework and economic model, VeChain uses innovative solutions like meta-transaction features and a proof-of-authority (PoA) consensus method to address these issues.
Unique Two-Token System
The VeChain ecosystem operates on two tokens - VeChain Token (VET) and VeChainThor Energy (VTHO). VET is used for creating VTHO and making payments or remittances within the system. On the other hand, VTHO settles transaction fees and covers costs associated with the platform's operation.
Securing Transactions with PoA Consensus Algorithm
VeChain employs a PoA consensus algorithm that secures transactions on its network. This is achieved through a network of 101 Authority Masternode operators who uphold the governance rules of the VeChainThor blockchain.
Collaborative Product Development with VeChain Toolchain
One of VeChain's key offerings is the VeChain Toolchain - a product that allows companies to develop new services and products collaboratively. This tool provides platform-as-a-service (PaaS), software-as-a-service (SaaS), and blockchain-as-a-service (BaaS) capabilities.
VeChain NFT Ecosystem
In addition to its applications in supply chain management, VeChain also boasts a thriving nonfungible token (NFT) ecosystem. Its decentralized NFT marketplace, VeSea, allows for the creation and trading of VIP-181 tokens that are stored on the VeChain blockchain.
Sources:
What is VeChain's all-time high (ATH)?
On April 18th, 2021, VeChain hit a historic high of $0.280991, 5 years ago.
What is VeChain's all-time low (ATL)?
On March 12th, 2020, VeChain bottomed out at $0.0019171300, 6 years ago.