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VET/USDT: Convert and Swap vechain (VET) to Tether (USDT)

1 vechain equals 0.0260 Tether

Last update: 2:02 AM, June 23, 2024

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The current VET to USDT conversion rate is 0.03. Inversely, this means that if you convert 1 USDT you will get 38.52 VET.

The conversion rate of VET/USDT has decreased by 0.04% in the last hour and grown by 0.57% in the last 24 hours.

Overview

About vechain (VET)

VET is one of two native tokens on the VechainThor blockchain. VechainThor is an energy-efficient, sustainable network that global enterprises and governments can use to leverage smart contracts and decentralized applications. VET tokens are the “value-transfer medium” across the VechainThor blockchain. VET tokens govern the network and generate VTHO tokens. VTHO is the other native token of the VechainThor blockchain which is used to pay network gas fees.

VeChain (VET) is a versatile enterprise-grade L1 smart contract platform that originated in 2015. It is recognized for its pioneering role in real-world enterprise applications, utilizing a distributed platform powered by Internet of Things (IoT) technologies, NFC chips, and blockchain to address data-related challenges across various industries. VeChain employs an intelligent two-token model, VET and VTHO, to separate the protocol's store of value and gas fee payment mechanisms, ensuring stable and low costs. The platform is dedicated to driving real-world adoption of blockchain technology, with a focus on sectors ranging from supply chains to sustainability.

VeChain operates through unique identifiers known as VeChain IDs, which are assigned to products. These IDs, tracked by sensors at each step of a supply chain, create a secure environment for all parties involved, documenting and verifying movement data. The platform aims to provide comprehensive information about products and business processes, enhancing market transparency and making international trade more efficient. VeChain software allows enterprise developers to create and run decentralized applications (dApps), offering a higher level of services and goods. The platform also uses proprietary solutions and developments, including ToolChain, My StoryTool, the VeChainThor blockchain, and IoT technology to facilitate processes.

VeChain seeks to disrupt traditional business models, particularly in the supply chain industry. Its transparent technology with no single point of control allows for enhanced security, efficiency, and ease of tracking for all kinds of data, while reducing costs through trustless automation via smart contracts. The platform has wide appeal to many different clients and industries, from carbon and supply chain to international logistics and incentivized ecosystems. VeChain's platform also includes VeBetterDAO, a wave of incentive-based sustainability dApps, aiming to onboard the next billion users to Web3 over the coming decade.

VeChain was created by Sunny Lu, a former IT executive and CIO of Louis Vuitton China, and co-founder Jay Zhang, who previously worked for Deloitte and PriceWaterhouseCoopers in finance and risk management. Established in 2015, VeChain is one of the oldest dedicated smart contract platforms on the market. The platform has continuously demonstrated its leading role as a driver of blockchain in business, working closely with key auditing and certification consultants such as PriceWaterhouseCoopers and DNV to verify data quality and certify industrial processes. VeChain has a maximum fixed supply of 86,712,634,466 tokens and uses a Proof of Authority (PoA) consensus mechanism for network security.

About Tether (USDT)

Tether (USDT) is an Ethereum token that is pegged to the value of a U.S. dollar (also known as a stablecoin). Tether’s issuer claims that USDT is backed by bank reserves and loans which match or exceed the value of USDT in circulation. Important note: at this time, Coinbase only supports USDT on the Ethereum blockchain (ERC-20). Do not send USDT on any other blockchain to Coinbase.

Tether (USDT) is a digital currency platform that was launched in 2014 with the aim of facilitating the use of traditional fiat currencies in a digital format. It seeks to provide a more modern approach to money, disrupting the conventional financial system. Tether has made strides by enabling customers to transact with traditional currencies across the blockchain, without the typical volatility and complexity associated with digital currencies. Tether's USD₮ token is a digital dollar, powered by blockchain technology, and is pegged 1:1 to the USD. This stablecoin provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit.

Tether operates as digital tokens built on several leading blockchains, including Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, Kava, and Statemine. These transport protocols consist of open-source software that interfaces with blockchains to allow for the issuance and redemption of Tether tokens. Every Tether token is backed 100% by Tether's reserves, and Tether publishes a record of the current reserve assets, maintaining transparency.

Tether's unique feature is that its value is guaranteed to remain pegged to the U.S. dollar. This property makes Tether a safe haven for crypto enthusiasts during periods of high volatility, as they can park their portfolios in Tether without having to completely cash out into USD. Additionally, Tether provides a simple way to transact a U.S. dollar equivalent between regions, countries, and even continents via blockchain, without having to rely on a slow and expensive intermediary, like a bank or a financial services provider.

Tether, initially known as Realcoin, was launched in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. Brock Pierce is a renowned entrepreneur who has co-founded several high-profile projects in the crypto and entertainment industries. Reeve Collins was the CEO of Tether for the first two years of its existence and has co-founded several successful companies. Craig Sellars has been a member of the Omni Foundation for over six years and has worked in several other cryptocurrency companies and organizations. Over the years, Tether has faced controversies regarding the validity of their USD reserves, at times disrupting USDT’s price. Despite these challenges, Tether has continued to grow and expand its operations.

How vechain (VET) and Tether (USDT) differ

VeChain (VET) and Tether (USDT) are two distinct digital assets, each with its unique purpose and functionality. VeChain, an enterprise-grade L1 smart contract platform, aims to drive real-world adoption of blockchain technology, particularly in sectors like supply chains and sustainability. It operates through unique identifiers known as VeChain IDs, which are assigned to products and tracked throughout a supply chain, enhancing transparency and efficiency. On the other hand, Tether is a digital currency platform that seeks to facilitate the use of traditional fiat currencies in a digital format. Its USD₮ token is a digital dollar, pegged 1:1 to the USD, providing a robust and decentralized method of exchanging value. Tether's value remains stable, making it a safe haven during periods of high volatility in the crypto market. While VeChain uses a Proof of Authority (PoA) consensus mechanism, Tether operates as digital tokens built on several leading blockchains. Both platforms strive to disrupt traditional models, but while VeChain focuses on data-related challenges across various industries, Tether aims to modernize the way we use money.

Market

vechain (VET)

Market cap

$2.10B

Volume (24h)

$25.44M

Price

0.0260 USDT

High (24H)

0.0263 USDT

Low (24H)

0.0257 USDT

Tether (USDT)

Market cap

$112.90B

Volume (24h)

$26.71B

Price

38.52 VET

High (24H)

38.92 VET

Low (24H)

38.03 VET

Conversion tables

VET to USDT

Amount (VET)
Amount (USDT)
0.5 VET
0.0130 USDT
1 VET
0.0260 USDT
5 VET
0.13 USDT
10 VET
0.26 USDT
50 VET
1.30 USDT
100 VET
2.60 USDT
500 VET
12.98 USDT
1,000 VET
25.96 USDT

USDT to VET

Amount (USDT)
Amount (VET)
0.5 USDT
19.26 VET
1 USDT
38.52 VET
5 USDT
192.59 VET
10 USDT
385.19 VET
50 USDT
1,925.94 VET
100 USDT
3,851.89 VET
500 USDT
19,259.44 VET
1,000 USDT
38,518.88 VET
Last update: June 23, 2024 at 2:02 AM

VET to USDT history

24 hours ago
Change (24h)
1 week ago
Change (1W)
1 month ago
Change (1M)
1 year ago
Change (1Y)
0.0258 USDT
+0.53%
0.0286 USDT
-10.27%
0.0359 USDT
-38.12%
0.0186 USDT
+28.21%
Last update: June 23, 2024 at 2:02 AM

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