Rohan Mathawan
One of the most advanced cryptocurrency platforms is the Vechain platform. It differs from the common crypto platforms because it offers distinctive features, unlike other coins. The Vechain platform also works as the bedrock for Vechain tokens. It assists in pumping the tokens and helps put the tokens on the list of the most sort after cryptocurrency to watch out for. The Vechain platform has one primary function: to assist marketing industries to keep tabs on their products by attaching sensors to supply chains. These sensors help to monitor the products’ temperature, location, and general welfare using advanced technology.
The platform, however, makes use of cryptocurrencies. Hence, it’s impossible to use these tracking services without having the native cryptocurrency Vechain (VET). Hence, an advanced strategy in selling VET to the public. Also, it’s impossible to transact VET without having gas fees, and these gas fees are paid using VeThor (VTHO). Hence, before any transaction can occur on the platform or any tracking services, every user must have VET and VTHO. While VET and VTHO work hand-in-hand, it’s essential to note that they have unique features and differences. Although they are used on one platform and have somewhat similar adoption, they are never the same. Here are some of the differences between VET and VTHO
Differences between VET and VTHO tokens
- Usage:
The main difference between the VET and VTHO tokens is their usage. As mentioned earlier, both tokens are used on the same platform. However, their usage differs. VET token serves as leverage the user has over the platforms. That is, the more VET a user holds, the higher the priority given to the user. However, VTHO token, on the other hand, serves as gas fees used to confirm decentralized applications. Note that the VTHO tokens are gotten from VET tokens, i.e., the more VET tokens a user has, the higher the number of VTHO tokens he gets. VET and VTHO tokens are similar to Ethereum and ether on the Ethereum blockchain. Hence, if you want VTHO, you need to buy Vechain and transact with it on the Vechain network.
VET is used as a transfer and store of value like every other cryptocurrency, Bitcoin, Ethereum, Cardano, etc. In contrast, VTHO is used as energy tokens. For every added transaction on the blockchain, units of computational power are requested, and this is paid using the VTHO. Note that the amount of VTHO paid as gas/computational power depends on the size and data of the transaction being processed.
- Price and principle of accumulation:
The prices of both tokens are another crucial difference between them. Although VET is needed to acquire VTHO, it could also be bought. So, as a marketing firm or an investor, you need not have VET to accumulate VTHO when you can invest in VTHO by buying from the exchange where it’s trading. Currently, VET is trading at $0.10 while VTHO is trading at $0.0076. So, it doesn’t matter if you buy Vechain or you invest in VTHO; they are both great investments. Note, however, that their prices are not dependent on one another, unlike predicting the price of VET increased as the number of users using the Vechain blockchain increases. The user index influences the price of VET on the Vechain blockchain because VET is needed for every trade. Hence, it’s essential users have it available. VTHO, on the other hand, as explained earlier, is for computational power, and it could be bought. However, the computational power is its unique use case. If anything is to influence its price, it’s the number of transactions carried out on the blockchain per active trading hours.
Although there are several other distinguishing factors between VTHO and VET, those mentioned earlier are somewhat the most spelled of all. Before now, industries and supply firms rely on trusts and portfolios of distributing firms to ensure every supply is distributed as planned. Some became obsolete with the Vechain blockchain, where supply chain tech is being incorporated into the system. So there’s little, or no, need for human effort in ensuring transactions and supplies run as they ought to. All that is required of the sender is to provide Vechain blockchain with the supply details, and it would be delivered safely. The Vechain network uses advanced technology to monitor the general welfare of the supply, as it’s also done in the cryptocurrency niche. Every transaction can be accounted for as they are registered on an open-source ledger available to anybody and everybody.