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VeThor Token: An Introduction

VeChain is a renowned Blockchain application platform that offers a wide range of services to businesses. It focuses on streamlining supply chain management and other business processes.

One crucial aspect of the VeChain ecosystem is the VeThor token (VTHO). This token is used to pay for data writing services on the VeChainThor blockchain. Essentially, any transaction or interaction with a smart contract requires settling in VTHO.

The amount of VTHO needed for a particular transaction depends on the size of the data being sent. On average, a simple VET transaction consumes approximately 30 VTHO.

The Significance of VeThor Token

VeChainThor (VTHO) is developed as a mobile wallet platform for storing VeChain coins (VET). It was created by the VeChain team after the launch of the mainnet (main network).

The generation rate of VeThor (VTHO) is determined by each block added to the chain every 10 seconds. With each new block, every VET owned generates 0.000000005 VTHO. In other words, the generation rate for each VET is 0.000432 VTHO per day. If a user holds 10,000 VET in their wallet, they will earn 4.32 VeThor tokens daily.

The default VTHO generation rate can potentially increase through a voting process. All stakeholders, including token holders, funds, and businesses, have the right to vote for a generation rate increase.