VeChain

What Is VeChain (VET)? Key Insights VeChain is a Layer-1 public smart-contract blockchain designed for real-world adoption. VeChainThor supports applications involving supply chains, product provenance, sustainability, digital product passports, tokenized incentives and other forms of verifiable business and consumer data. VeChainThor is EVM-compatible and includes features such as fee delegation, multi-clause transactions, controllable transaction lifecycles and a dual-token economic model. The network uses two core tokens: VET, the native asset used for staking and network security, and VTHO, the gas token used to pay for transactions and smart-contract execution. Following the Hayabusa upgrade in December 2025, VeChainThor operates under Delegated Proof of Stake. VET holders can participate in network security by operating a validator or staking and delegating VET through StarGate. The ecosystem includes VeBetterDAO, which rewards verified positive actions; VeWorld, the official self-custody wallet; and VeWorld.ai, a platform for building, publishing and hiring AI agents with blockchain-based trust mechanisms. Introduction VeChainThor is a public blockchain built to connect blockchain technology with real-world applications. Its infrastructure is used to create verifiable digital records, coordinate incentives and support transactions between businesses, applications and users. VeChainThor was designed to address common barriers to blockchain adoption. Its native fee-delegation features allow an application or business to pay transaction fees on behalf of users, while multi-clause transactions allow multiple operations to be completed within a single transaction. The dual-token model separates VET, the network’s primary asset and staking collateral, from VTHO, the token used to pay transaction fees. This structure is intended to reduce the direct effect of VET price movements on application operating costs. VeChain’s early applications focused on supply-chain management, product authenticity and enterprise data sharing. The ecosystem has since expanded into sustainability, consumer rewards, decentralized governance, staking, digital product passports and AI-agent infrastructure. Founding and Background VeChain was founded in 2015 by Sunny Lu. Its early development focused on using blockchain together with technologies such as NFC chips, RFID tags and QR codes to improve product identification, authenticity and supply-chain traceability. Before launching its public blockchain, VeChain operated using private and consortium-chain infrastructure. The project originally issued VEN as an ERC-20 token on Ethereum. The VeChainThor mainnet launched in June 2018, after which VEN was migrated to the native VET token. Since then, VeChainThor has supported applications across sectors including supply chains, food safety, automotive records, sustainability, consumer engagement and digital product information. VeChain materials cite enterprise adoption and collaborations involving organizations such as Walmart China, BMW, DNV, PwC and Boston Consulting Group. The VeChain Foundation supports the development and adoption of VeChainThor and its wider ecosystem. VeChain Foundation San Marino S.R.L. has published MiCAR-compliant white papers for VET and VTHO for their admission to trading through applicable European crypto-asset service providers. What Makes VeChain Unique? Dual-Token Model VeChainThor uses VET and VTHO for separate functions. VET is VeChainThor’s native asset. It is used for staking, delegation, value transfer and participation in network security. VTHO is the network’s gas token. It is used to pay for transactions and smart-contract execution. Separating the network asset from the transaction-fee token allows VeChainThor’s operating costs to be managed independently from VET’s market price. Following Hayabusa, new VTHO is generated through actively staked VET instead of passively by all VET holders. VTHO generation is dynamic and varies according to the amount of VET securing the network and other protocol parameters. Fee Delegation VeChainThor supports native fee delegation, allowing an application, business or designated sponsor to pay transaction fees on behalf of a user. This means users can interact with a VeChain application without first acquiring or managing VTHO. For consumer and enterprise applications, this can create an experience closer to that of a conventional web or mobile application. Multi-Clause Transactions A single VeChainThor transaction can contain multiple clauses and perform several operations. For example, one transaction may transfer assets, interact with a smart contract and record data without requiring each operation to be submitted separately. VeChainThor also supports transaction dependency and lifecycle controls. Developers can specify when a transaction becomes valid, when it expires and whether it depends on the completion of another transaction. EVM Compatibility VeChainThor is compatible with the Ethereum Virtual Machine, allowing developers to use Solidity and familiar smart-contract development tools. The Galactica upgrade aligned VeChainThor with Ethereum’s Shanghai EVM version. The ongoing Interstellar roadmap includes further work towards broader EVM and JSON-RPC equivalence. VeChain Renaissance VeChain Renaissance is a multi-stage protocol roadmap designed to modernize VeChainThor’s technical architecture, staking system, tokenomics and governance. Galactica The Galactica upgrade launched in July 2025. It introduced an EIP-1559-style dynamic fee market, priority fees for validators and the burning of transaction base fees. Galactica also aligned VeChainThor’s EVM implementation with Ethereum’s Shanghai version and introduced additional developer and transaction-processing improvements. StarGate StarGate is VeChain’s staking platform. It launched in July 2025 and introduced staking positions represented…