Cryptocurrency Category: Coins
What is VeChain? What’s the vision of VeChain?
VeChain is the world’s leading blockchain platform offering Blockchain-as-a-Service to enterprises for products and information
By leveraging on blockchain technology, VeChain strives to build a trust-free and distributed business ecosystem, which is self-circulating and scalable.
What are the advantages of adopting VeChain-powered ecosystem?
The access to transparency and symmetrical information.
Breaking silos, reducing the trust issues between different corporates.
Each person and each enterprise has their own part to play in this eco-system. Based on their contribution and value, they can obtain relatively fair rewards.
We wish to build a platform that supports high volume at high speed for the benefit of the enterprises in our ecosystem.
What is the token used in VeChain ecosystem?
The VeChain token used in VeChain platform is called VET
VET is likened to the fuel or the blood which supports VeChain’s distributed platform. All participants must use VET to get products and services.
Is Vechain developed based on Ethereum?
Yes, it is. In the past two years, the team has done lots of code modifications and improvements including DBGP, DMBSP, and DGIP protocols.
How many times has VeChain developed in the recent two years? What’s the path of the VeChain technology development and future plans?
2015.06: TPOC, initial VeChain design;
2016.01: Ethereum TPOC approved, VeChain v0.1 development started;
2016.06:VeChain v0.1 launched. Basic smart contract templates, blockchain explorer, standard blockchain API, Android app, 1st generation VeChain smart chip, 1st business implementation go-live;
2016.09:VeChain v1.5 launched. Functional smart contract templates, re-adjust service infrastructure, API gateway, VeChain Dashboard, iOS app, 2nd generation VeChain smart chip
2016.11: VeChain v2.0 launched. More smart contract templates, DBGP,DBMSP, and DGIP model launched.
2017.05:VeChain v3.0 initiated more business implementation cases in the luxury segment, automobile, agriculture and audit.
Future development roadmap
2017Q4:BLACP, PBCP, DCCP, CHAOS go-live, 3rd generation smart chip, Asymmetric blockchain checksum, VeChain launched B-a-a-S cloud platform, and more business implementation cases.
2018Q2:VeChain v3.0 go-live, Rust-restructure, VeChain Token (VET) related service including VeChain Token (VET) wallet, gas exchange, audit service, etc. VeChain Token (VET) launches, completing VeChain Token (VET) and ERC20 token 1 to 1 exchange.
2018Q4:VeChain v4.0 go-live, achieve commercial ecological environment system integration platform. Integration with IoT, and more specific industrial blockchain cloud.
What kind of organization is VeChain Foundation? What is the specific governance structure?
The VeChain foundation (hereinafter referred to as the foundation) is a non – profit entity established in Singapore in July 2017. The foundation will act as VeChain sponsor entity, committed to VeChain’s development, construction and governance, transparency, advocacy and promotion work, and promote the safety and harmonious development of open source communities.
With reference to the experience of corporate governance structure, the foundation will set up functional Committees, including the strategic decision-making Committee, the technical audit Committee, the remuneration and Nomination Committee and the public relations Committee.