VTHO/EUR: Convert VeThor Token (VTHO) to Euro (EUR)

VeThor Token (VTHO) is a critical component of the VeChainThor public blockchain, a platform that aims to facilitate processes and transactions in the digital space. Launched in 2015 and rebranded in 2018, VeChainThor employs two tokens: VeChain Token (VET) and VeThor Token (VTHO). While VET serves as the primary value-transfer token, VTHO plays an integral role in the operation of the blockchain. VTHO, a VIP-180 Standard token, represents the cost of using the VeChainThor blockchain and essentially embodies the smart contract layer of the network. The dual token design of the blockchain allows users to engage with both tokens, diversifying their interaction with the project.

The VeThor Token operates within the VeChainThor blockchain, which uses a proof-of-authority (PoA) consensus mechanism for swift transaction validation. The VeChainThor blockchain is not built on Ethereum, but it is its own separate blockchain, heavily influenced by the Ethereum Virtual Machine (EMV). The PoA consensus relies on approval from an Authority Masternode (AM), selected by the VeChain Foundation. Both VET and VTHO tokens are a special class of ERC-20 coins, meaning they are versatile and can be stored in various cryptocurrency wallets. The VTHO token is generated from the VET token, with a part of a VTHO token created for every VET token added to the block.

The VeThor Token aims to facilitate various processes and transactions on the VeChainThor blockchain. Its primary use case is to represent the cost of using the VeChainThor blockchain, essentially serving as the smart contract layer of the network. The VeChainThor blockchain, powered by VTHO, aims to offer increased processing speeds and an open-source design, allowing developers to collaborate. It also developed meta-transaction features, enabling multi-party payments and multi-task transactions. This versatility aims to benefit enterprise users of all levels, allowing them to take advantage of blockchain capabilities.

VeThor Token was born out of the VeChain project, which was founded by Sunny Lu in 2015. Initially, VeChain was a subsidiary of Bitse, a major player in China's blockchain industry. However, Sunny Lu separated from Bitse, and VeChain became an independent enterprise. In 2018, the company underwent a significant rebranding process, resulting in the creation of the VeChainThor blockchain and the VeThor token. The VeChainThor blockchain and its dual token system, including VTHO, have been operational since then, aiming to provide a platform for transparent information flow, efficient collaboration, and high-speed value transfers.