VeChain is one of the hottest items in the cryptocurrency space, and not without reason. For years now, crypto analysts have been heralding the potential for blockchain to revolution the supply chain industry. And while that might sound as interesting as…I don’t know…watching a supply chain in action, this is actually one of the most tangible purposes for blockchain technology yet conceived.
We’ll describe what this all means in just a bit, but for now simply understand that VeChain’s great potential makes VeChain coin something that many people want to own. **Note: If you are reading this post near the time of its publication, crypto prices are likely still in the toilet. This means that the VeChain price (barring a total crypto nuclear event) could be the lowest we see again.**
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How to Buy VeChain Coin/VeChain VEN
As with many things in life, to buy VeChain there’s an easy way and a hard way. There are pros and cons. We’ll show you the easy way to buy VeChain coin through VeChain Binance listings.
Buy VeChainat Binance
How Can VeChain Coin Improve Supply Chains?
As many of your will already know, blockchains are among the most secure ways to store data. Once data is stored, it is protected by a extremely though-to-crack code. Then this code gets coded with another code when the next block is added. Then another code protects all the previous code when the next block is added. Data stored within one of these blocks is about as safe as it can be.
VeChain is a project that wants to take a record of every event that happens on global supply chains, (using oranges as an example) from seed to harvest to supermarket to your homemade fruit salad. VeChain uses “VID” (VeChain Identification) technology to track every event that happens to a product, be it product or produce. These actions are stored, immutably, on the VeChain blockchain.
This means that one day soon, you’ll be able to tell for sure whether or not pesticides were ever used on your veggies, or whether slave labor was used to make your clothes. It’s easy to imagine an app that simply scans a QR code and gives you a rating at the grocery store. There’s work to be done, but this is one of the coolest applications of blockchain that will likely affect us all.
What Does VeChain Coin/VeChain VEN Do?
VeChain coin/VeChain VEN is the currency used to make the network run. The VeChain network is made up of “Nodes” (technology used by people and organizations to run VeChain core software), and actions on the chain are paid for with VeChain Coin/VeChain VEN. Nodes that contribute a lot to the VeChain network will also be paid in VeChain as an incentive to keep up the good work.
Final Thoughts on VeChain VEN
VeChain is a remarkable project that stands to change the way we think about and use products, goods, commodities, food, and more. For centuries, consumers have had to put a great deal of trust in the people who made their stuff – that the products were made according to the specifications the producer claimed, that there was no cheating or shenanigans involved in making or moving it. Nonetheless, bad products were foisted upon consumers who had no recourse but to accept what was available to them at market.
If VeChain has their way, all of this knowledge will be recorded, stored immutably, and provided to the customer at the end of the chain. This will change the way we buy and use basically everything.
As always with crypto, this might happen as we hope, or something else entirely might result. However, if VeChain happens in a big way, the current VeChain price may be the investment opportunity of a lifetime. Think about it.