Glossary
VeChain
An EVM-compatible Layer-1 focused on supply-chain and enterprise use cases — uses a two-token system (VET for value, VTHO for gas) and Proof-of-Authority consensus.
VeChain launched in 2018 as a Layer-1 designed around enterprise supply-chain applications: traceability for luxury goods, authenticity verification, carbon credits, logistics. The chain uses a curated 101-node Proof-of-Authority consensus rather than permissionless validation.
The two-token model separates value (VET) from gas (VTHO): holding VET automatically generates VTHO over time, paying for transactions. Enterprise partnerships with PwC, BMW, Walmart China, and others have driven much of VeChain's adoption story.