VeChain is a Layer 1 enterprise-grade blockchain platform focused on supply chain management, sustainability tracking, and real-world business applications. The platform uses a unique dual-token model: VET serves as the value transfer and staking token, while VTHO is generated by holding VET and is used to pay for transaction fees. VeChain employs a Proof of Authority consensus mechanism with 101 Authority Masternodes selected through a rigorous identity verification process, ensuring high throughput and energy efficiency suitable for enterprise use. The blockchain has secured major partnerships with companies like Walmart China, BMW, DNV, and PwC for supply chain tracking, carbon credit management, and product authentication. VeChain's ToolChain platform provides no-code blockchain-as-a-service solutions for enterprises. The ecosystem also includes DeFi applications on its VeChainThor mainnet.
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