Crypto tokens in the market are gaining popularity rapidly. VeThor Token, used by the VeChainThor open blockchain network, is one of them. It has unique features due to its VIP-180 smart contract. This article on Zatrun.com answers questions like “What is VeThor Token (VTHO)?” Read on to learn more about the project.
What is VeThor Token (VTHO) and How Does It Work?
VeThor Token (VTHO) is part of the binary token system of the VeChainThor blockchain and plays a complementary role in the functionality of the network. The VeChainThor network is a SaaS Blockchain platform that facilitates services for enterprise users using smart chips.
The ecosystem is a platform for the application of NFC chips, QR codes, and RFID trackers for enterprise IoT on the blockchain and provides products to its corporate customers for supply management.
VTHO cryptocurrency is the main payment method in the VeChain ecosystem, allowing for the payment of gas fees on the network. It is used for sending data to smart contracts as well, required for every transaction made on the network.
All smart contract transactions are carried out using VeThor Token. It is a special token that works with the VIP-180 standard as a smart contract layer. The use of VTHO coin enables the network to allow users to initiate multi-party payments and perform multi-task transactions.
Is VTHO a Good Investment?
VTHO and native token VET provide a dual token infrastructure that allows users to enjoy fast transactions and operations for enterprise services in the VeChain ecosystem. While smart contracts cannot be executed with just VTHO, VET is also needed for VTHO to exist.
VET is used to create VTHO coin. The price of VTHO coin depends on the cost of using VeChainThor. In contrast, VET is subject to market speculation. The cryptocurrency is created by holding VET, so you can earn VTHO by holding a VET balance. The relationship between the two tokens is mutually dependent.
VeThor Token allows users to diversify their use of the VeChain blockchain and is an essential part of the VeChainThor network. The cryptocurrency covers the cost of using the network. The VeChainThor blockchain enables the operation of the VeChain network with quick execution of smart contracts. As the network develops, VTHO coin will become a valuable asset in the cryptocurrency market. Therefore, the value of the asset is related to VeChain.