VeChain (VET)USD

VeChain is an enterprise-focused Layer 1 public blockchain called VeChainThor, built for supply chain tracking, product authentication, sustainability reporting, and other verifiable business data applications. Sunny Lu founded the project in 2015 under the name Verification Chain, and the VeChain Foundation was formally established around 2017. The original network and its token, VEN, were rebranded and migrated to the VeChainThor blockchain in 2018, when VET became the primary network token. VeChainThor uses a Proof-of-Authority consensus mechanism, which has since evolved into a hybrid delegated model called PoA 2.0 to balance transaction speed, low energy use, and broader validator participation. VeChain operates a dual-token system. VET is the native value, staking, and governance token used for transfers, voting on protocol changes, and generating the second token, VTHO. VTHO is the gas token that pays for transactions and smart contract execution on the network. Enterprises use VeChainThor to build applications for supply chain management, product provenance, digital product passports, and data integrity, often integrated with IoT devices. VET has a fixed maximum supply of 86,712,634,466 tokens with no additional minting, making its issuance schedule fully defined.