VeChain is a Layer-1 blockchain that allows developers to create unique smart contracts and decentrtalized apps.

VeChain (VET), is a blockchain-based platform that aims to make it easier for existing businesses to leverage the potential of blockchain technology to solve real-world problems. It provides technical features that can be customized based on the specific needs of developers, users, and enterprises.

Initially developed as a subsidiary of Bitse, a Chinese blockchain company, VeChain was created as a modified fork of Ethereum. The VEN token was initially used to function on the Ethereum blockchain but after the transition into its own blockchain in 2018, VeChain has relaunched as VeChainThor (VET) blockchain.

The VeChainThor blockchain is designed to support various use cases such as supply chain management for the food industry, digitizing products using unique blockchain identity, and more. VeChainThor also provides a unique onboarding process for businesses unfamiliar with blockchain technology, through its VeChain ToolChain. It is a one-stop data BaaS (Blockchain-as-a-Service) platform that helps organizations seamlessly integrate their operations and data with the blockchain. The platform combines the VeChainThor public blockchain, the Internet of Things (IoT), industry expertise from business partners in the ecosystem, and possibly artificial intelligence to offer a comprehensive solution that reduces enterprises’ barriers to implementing blockchain technology.

The VeChainThor blockchain features unique meta-transaction characteristics such as multi-party payment, multi-task transaction, customizable transaction lifetime, and transaction dependence that make the development process more user-friendly for business adoption."

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