VeChain is a Blockchain-as-a-Service company with a mission to develop “a trust-free and distributed business ecosystem to allow transparent information flow, efficient collaboration, and high-speed value transferring.”
What is VeChain (VEN)?
VeChain is an Ethereum-based, supply and logistics blockchain token which aims to help both customers and manufacturers keep track of their orders and the integrity of each order, and it reduces reduction of errors and instance of lost items. It enables manufacturers to assign special attributes and unique product identities to each other. The transportation of supplies can be made more transparent by maintaining this information on a ledger.
VeChain (VEN): History
The concept of VeChain was first designed in the second half of 2015 by computer networking specialist Sunny Lu and brought into development in 2016. He is a co-founder of the “blockchain-as-a-service” company named BITSE, which recently teamed up with PricewaterhouseCoopers to “boost blockchain adoption in the Asian Pacific markets.” VeChain officially launched on November 2nd, 2016 after several additions, adjustments, and documentation releases. VeChain has many more components with future release dates and plans for 100% of the operation to go live by Q2 2018.
How Does VeChain (VEN) Work?
VeChain has developed what they describe as a “blockchain-enables enterprise software platform through utilization of Ethereum’s vast and open-ended API source code. In the sense that it is accomplishing its aims by plugging proprietary software into the Ethereum network which enables it to act both privately and transparently at the same time. People can access the product information by scanning the QR code of a product with the VeChain app. Sometimes product information is represented in a chip under the tag of a product.
How to Buy VeChain (VEN)?
First of all, you have to set up a VeChain (VEN) wallet to store your coins safe. You can use MyEtherWallet to store your coins. Make sure you won’t forget the password of your wallet if you do, you lose the access to your coins. Then buy Ethereum by using Coinbase. Then trade it for VeChain.
VeChain (VEN) Price Prediction 2018
VEN can be a profitable investment option. VeChain price equal to 5.262 USD at 2018-02-15. If you buy VeChain for 100 dollars today, you will get a total of 19.003 VEN. Based on our forecasts, a long-term increase is expected, the price prognosis for 2023-02-11 is 73.060 US Dollars. With a 5-year investment, the revenue is expected to be around +1288.34%. Your current $100 investment may be up to $1388.34 in 2022. VeChain (VEN) price today is $5.27 and have the current supply of 470,676,264 VEN. The market cap value is $2,481,866,526 and the volume is marked as $93,802,300. VeChain price prediction, VeChain price forecast, VeChain price and news, VEN price forecast, VEN price prediction 2018, What is the price of VeChain 2018.