Blockchain technology is steadily permeating industries across a spectrum of use cases. But issues of slow processing speeds, higher computational costs, and low scalability are still impediments to blockchainās adaptability to real-world uses. VeChainThor is one such blockchain that has attempts to overcome these shortcomings to find use cases as an optimum supply management platform in several industries. We discuss about this blockchain today.
The VeChainThor blockchain hosts the VeChain ecosystem. It allows faster processing speeds and powers real-world supply chain management processes. It ensures each stage in the supply chain passes the quality standards and is compliant. Being an open-source protocol, it allows developers to pool together their efforts.
VeChainThor blockchainās core protocol also allows multi-party payment, multi-task transaction, transaction dependency, and controllable transaction lifecycle. All these features make the blockchain compatible with enterprise adoption. The blockchain uses the proof-of-authority consensus mechanism to approve new nodes allowing low computation power requirements. It has built-in smart contracts, which can be used to avoid hard forks if consensus on upgrades is not attained by the authority masternode.
VeThorChain uses a governance model for continually evolving and innovating its ecosystem while keeping its members in the loop.
VeThor: Fundamental Analysis
VeThor Token (VTHO) is a VIP-180 Standard token and performs the task of primary value transfer on the VeThor blockchain. It fuels the economy of the blockchain by facilitating processes and transactions. It essentially represents the smart contract layer of the network.
The total circulating supply of VTHO tokens is 45.63 billion. VTHO tokens are burned after on-chain operations are performed.
Short-Term Technical Analysis
VeThor token is trading around at $0.0045 today and is amongst the top 300 cryptocurrencies by market cap. The token is rising on a support trendline and has also retested supports at $0.0039 and $0.0042. Once it overcomes resistance at $0.0047, it looks likely to test $0.005 and beyond.
Source: TradingView, Binance
VeChainThor blockchain, via its bi-token economic model, seeks to benefit every stakeholder at all levels in its ecosystem - enterprise users, partners, community investors, institutional /research partners, developers, or startups. VeChainThor can track and manage anything that has been tokenized on its platform. It is being used in several industries, including healthcare (I-Dante), carbon emission tracking, food health and safety, anti-counterfeiting, and other areas of supply chain management.
The VTHO token has seen a slow cum volatile uptrend since last week with a positive long-term growth outlook. To be actually considered a viable crypto investment, VTHO needs to break into the top 200 lists.
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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.