Deep Dive
1. Purpose and use
VeChain aims to make information about products and business processes easier to share and check. For example, a company could record a product’s journey through a supply chain or create a digital record of its origin. The blockchain makes recorded entries traceable, but it cannot independently confirm that the information entered is true. VeChain’s documentation describes its focus on real‑world blockchain applications.
2. Network and tokens
VeChainThor is a Layer 1 blockchain, meaning it operates as its own base network, and it supports smart contracts—programs that run on the blockchain. Since the Hayabusa upgrade on December 2, 2025, it has used Delegated Proof of Stake: VET holders can help secure the network by validating or delegating their stake. CoinMarketCap’s VeChain overview outlines this model.
The network separates token roles: VET is used for staking and network security, while VTHO pays transaction fees. This two‑token design separates the token used to participate in the network from the one used to pay for its activity.
Conclusion
VeChain is a smart‑contract blockchain focused on recording real‑world data, with VET supporting network participation and VTHO paying fees. Which real‑world records could benefit most from being traceable on a blockchain?
