Vekhain is one of the largest platforms using blockchain for products and information. The principle of operation of the system is that the material object is assigned a unique ID. Data is located in the block chain, as well as on the products in the form of a QR code, RFID-tag or chip NFC. Thus, Vechain connects the API with an applied level of the system connecting Blockchain to real information.
The story of the creation of Vekhain
The project was launched in 2015 in Singapore. Founder Sunny lu. At the moment, the company has 111 nodes in the 5 largest countries.
At the moment, the main guidelines:
Using the technology of blockchain and special NFC chips, the consumer can track the entire life cycle, simply scanning the chip using his mobile phone. This approach almost completely excludes the option of falsification of the product.
The concept of IoT was used. Together with Vekhain, a unique possibility of collecting and providing data to increase the quality and number of crops in the organic agricultural industry appears.
With the help of blockchain technology, the most effective exchange of information is achieved between all participants in logistics processes.
With the help of Vekhain technology, it has become possible to track the entire life cycle and improve quality control.
The main features of Vekhain
| The principle of operation (algorithm) | Products are assigned ID The identifier is stored in the blockchain The product is marked with a special chip with information about the identifier |
| Smart contracts | Landmark for operations/transactions with material objects/products |
| Mining (there is no, complexity, algorithms) | No |
| What type of Proof or Proof-Os uses | POS |
| Tokens | Ven |
| Number of coins in circulation for today | 277 162 633 Ven |
| The maximum possible number of coins | 867 162 633 Ven |
| Capitalization for today | $ 2 164 346 375 USD |
| Cost for today | $ 7.81 USD |
| Website | https: // www.VECHAIN.Com/ |
| When starting | August 22, 2017 added to the exchange |
| The main exchanges are represented | Binance LBANK Huobi Gate.Io Hitbtc Liqui Bigone Etherdelta Qryptos Coss Kucoin |
Vekhain roadmap
June 2015: the beginning of the development of the Vekhain project;
January 2016: approved by Ethereum TPOC, the beginning of the development of VECHAIN V0.one;
June 2016: Launch Vekhain V0.one. The main smart contract templates, a blockchain conductor, a standard API interface, an Android application, first-generation Vekhain intellectual chip, first implementation of Go-Live business;
September 2016: Launch Vechain V1.5. Functional intellectual contract templates, reconfiguration of service infrastructure, API gateway, Vekhain Dashboard, iOS application, 2nd generation Vekhain smart chip
November 2016: Launch Vekhain V2.0. More intelligent contract templates, DBGP, DBMSP and DGIP have been created.
May 2017: Vechain v3 initiation.0.
Ven course
Vekhain (Ven) token appeared on exchanges on August 22, 2017. The course was 0.239862 USD. In October 2017, cryptocurrency growth began. At the moment, the cost of 1 Ven is 7.81 USD. So far, the maximum value was 9.45 USD (January 22, 2018).
Features of Vechain and opportunities for investors
Initially, when developing a platform, the main task was to create a decentralized system for a business that provides maximum transparency of information chains, which improves the efficiency and safety of cooperation in various fields.
Vechain technologies allow large brands and manufacturers to integrate IoT (Internet of Things) into their products at the manufacturing stage. This will facilitate the tracking of goods at the logistics stage. In the future, such integration will make it possible to get the final consumer all the information about the products, and to manufacturers – to evaluate the trends of the secondary market.
At the moment, the Vekhain platform has already appreciated large companies in the field of pharmacology, logistics, light industry and brands producing Lux class goods.
VEN, VECHAIN TOKEN, is used by all participants in the ecosystem. In order to transfer the cost and perform smart contracts in the blockchain system, participants will need to purchase Ven.
To date, investors, having evaluated the prospects of the project, willingly go to cooperation. An agreement was signed with the consulting structure of PWC. Not so long ago, a VECHINA representative in his blog announced a partnership with DNV GL (tobacco industry, China). Active development of technologies for insurance companies is also underway.
Against the background of all these prospects, as well as the active work on the development of the Vekhain platform, the Ven cryptocurrency course began its growth since the end of last year. Analysts believe that at the moment its true value is underestimated by almost a third, so it is likely that by the end of 2018 we will observe the intensive increase in the cost of this coin.
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