VeThor (VTHO)

Transaction Fees and Smart Contracts

VeThor is used to pay for transaction fees and fees for using smart contracts on the VeChainThor blockchain. It acts like the "energy" needed to perform actions on the network, similar to how Ethereum uses ether.

Token Generation and Supply

VeThor tokens are generated by holding VeChain Token (VET) at a fixed ratio. When transactions occur, 70% of the VeThor used is destroyed to help regulate its value, and 30% is given as a reward to validators.

Enterprise and Developer Use

VeThor powers transactions for businesses and developers building decentralized applications (dApps) on VeChainThor. It supports supply chain management, Internet of Things (IoT) devices, and other enterprise blockchain solutions.

Market and Trading

VeThor can be bought and sold on various cryptocurrency exchanges. Its price and supply are influenced by network activity and token burning during transactions.

Real-World Adoption

Companies like Walmart use VeChainThor blockchain technology, where VeThor is used behind the scenes to pay for blockchain transactions, often without users needing to handle the tokens directly.

Pros

• Improves the efficiency of operations on the VeChain Thor blockchain.
• Stabilizes transaction costs by using a dual token system.
• Powers smart contract transactions and facilitates multi-task and multi-party payments.
• 70% of VeThor tokens used in transactions are destroyed, helping regulate token supply.
• Not mineable, so it does not rely on miners, which can reduce energy consumption.
• Generated automatically by holding VET tokens, providing a steady supply without active staking.
• Plays a crucial role in the VeChain Thor ecosystem as the gas currency for transactions.
• Supported by a reputable blockchain platform with enterprise-grade applications.

Cons

• Its market cap and trading volume are relatively small compared to major cryptocurrencies.
• Price can be volatile and influenced by network usage and demand for transactions.
• Limited use case strictly for paying transaction fees and smart contract execution, not for general currency use.
• Value depends heavily on the adoption and success of the VeChain Thor blockchain.
• Not widely supported on all major exchanges (e.g., Coinbase does not support VTHO transactions).
• The token’s price is not directly linked to VET, which can cause separate market dynamics.

Founders

VeThor was founded by Sunny Lu and Jay Zhang. Sunny Lu is the primary founder and current CEO of VeChain. Jay Zhang is the co-founder who manages the project's global corporate structure, governance, and financial management.

Background

Sunny Lu previously worked as CIO of Louis Vuitton China and has a strong IT executive background. Jay Zhang has experience in finance and risk management, having worked for Deloitte and PriceWaterhouseCoopers.

History

VeThor was created as part of the VeChain ecosystem, which started in 2015 as a subsidiary of Bitse, a major Chinese blockchain company. In 2018, Sunny Lu and Jay Zhang rebranded the project to VeChain Tech and launched it as an independent enterprise, introducing the dual-token system including VeThor.

Investors in VeThor

There is no specific public information about individual or institutional investors in VeThor. However, VeThor is part of the VeChain ecosystem, which attracts a variety of investors interested in blockchain technology and enterprise solutions.

Investment Interest

Investors in VeThor typically include those who hold VeChain Token (VET), as VTHO is generated by holding VET. This system encourages long-term holding and participation in the network.

Market Participation

VeThor is traded on multiple cryptocurrency exchanges, making it accessible to a wide range of investors globally, from beginners to experts. The token's price and trading volume reflect active market interest.

Community and Sentiment

Investor sentiment can be tracked through market data and community discussions on platforms like Reddit and crypto forums, where users share insights and trading ideas related to VeThor.

Halal Status of VeThor

VeThor is considered halal because it complies with Shariah rulings. It operates on a proof-of-stake consensus mechanism, which is allowed in Islamic finance. VeThor tokens are used as gas fees within the VeChain blockchain ecosystem, and this utility aligns with halal principles. Multiple Islamic finance sources and communities have reviewed and listed VeThor as halal.