VeThor (VTHO) is one of the two cryptocurrencies that are developed by the VeChain Thor blockchain, which works as a BaaS (Blockchain as a service) network. VTHO is not the only token there, along with the VET token they form a dual-token system that is designed for the efficiency and stability of enterprise users.
The project provides enterprises with a medium 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 the enterprises use on the VeChain Thor blockchain is VeThor (VTHO) token, and it's used for transaction fees coverage. In other words, VTHO works as a smart contract layer that allows the users to operate multitask transactions and initiate multi-party payments.
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 rebranding of the company happened and the new idea of a dual-token network was implemented. At that time, the VeThor token (VTHO) was created.
The VeChain Thor blockchain plays an important role in helping enterprises around the world to be transparent to build better relationships with their customers. The VeThor token brings numerous advantages to the table.
Along with the benefits, there are also some downsides of the VeThor (VTHO) token.
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