Blockchain-based ecosystem VeChain (VET) succeeded to surpass 1 million transactions on their mainnet, according to the official video announcement.
According to the video, the value of the token is determined by how many people use the platform.
In order to use a public blockchain, individuals and businesses need to use VTHO, which is the official token of VeChain.
Previously, VeChain signed a memorandum of understanding (MoU) with the UAE’s leading cloud provider BIOS Middle East.
VeChain is a blockchain platform designed for supply chain management processes. Its mission is "to enhance a trust-free and distributed enterprise ecosystem for enabling a free flow of information, high-speed value transfer, and efficient collaboration."
Moreover, earlier, VeChain demonstrated to the representatives of the first China International Import Expo the ‘My Story’ and cold chain logistics solutions co-developed with DNV GL.
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