LATOKEN team regularly reviews tokens in order to keep crypto traders up to date with current and upcoming trends in blockchain technology. This time, LATOKEN review VeThor Token (VTHO) crypto token.
VeThor is Part of the Dual-token Ecosystem of VeChain.
The simplest way to obtain a VeThor (VTHO) is to buy VET. When a user buys VET on the VeChain platform, the system adds a set amount of VTHO to the ledger. As of right now, 1 VET is equal to 14.285714285714285 VTHO. When it comes to VTHO generation, it has to be done through a voting process by VTHO holders. VeChain Thor uses a consensus mechanism known as proof of authority (PoA). When VTHO is used to pay for transactions, 70% is burned and the other 30% is retained by Authority Masternodes.
What is VeChain Ecosystem?
VeChain is an enterprise focussed blockchain and partners with large companies, such as Seeing PwC, Grant Thornton, BMW, Walmart China, DNV, and others. It is also one of the few blockchains providing an income stream to token holders as a result of real world usage. VeChain is a dual-token ecosystem and both VET and VTHO have their own functions. Both tokens are interconnected. VTHO is needed to pay for transactions on the VeChain platform, while Vet acts as a cryptocurrency.
There is also a system of “nodes“ on the VeChain ecosystem. There are two types of nodes: authority nodes and economic nodes.
Authority nodes validate, group and add transactions on the blockchain. Authority nodes can become the validators on the network and require special hardware to support it. Users must stake a minimum of 25 million VET, in order to become an Authority Masternode who can verify and add transactions. People who are interested in operating authority nodes need to apply and get approved prior to running the node.
Economic nodes work to stabilize the VeChain ecosystem and do not require special hardware or application.
Where is VeThor Token (VTHO) cryptocurrency Headed?
The position of the overall VeChain ecosystem influences the price and upward or downward mobility of both VET and VTHO. As the VeChain ecosystem is further stabilizing its position in the crypto-world by the use of different enterprises, it is likely for VTHO to gain more popularity. From the current trajectory of the Token, it is likely to remain in a favorable position, however, only time will tell where will VTHO be headed in the future. As of now, the token is available on LATOKEN exchange, at today’s rate of 1 VTHO = 0.006751 USDT.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.