VTHO es uno de los dos tokens nativos de la cadena de bloques VechainThor. VechainThor es una red sostenible y energéticamente eficiente que las empresas globales y los gobiernos pueden utilizar para apalancar los contratos inteligentes y las aplicaciones descentralizadas. Los tokens VTHO se utilizan para pagar las tarifas de gas de la red. VET, el otro token nativo de la cadena de bloques VechainThor, genera tokens VTHO. Los titulares de tokens VET acumulan automáticamente y reciben tokens VTHO.
What Is VeThor (VTHO)?
VeThor (VTHO) is a secondary token of the VeChain Thor ecosystem that works on a bi-token design. VeChain Thor is a public blockchain that aims to make distributed ledger technology accessible to businesses of all sizes. According to the whitepaper, the goal of VeChain Thor is to serve as the foundation for a long-term and scalable corporate blockchain ecosystem.
Currently, many popular blockchains are unsuited for running large-scale commercial decentralized applications (DApps). Moreover, these protocols lack an appropriate economic model that would allow businesses to run their DApps at a predictable and manageable cost. The developers created the VeChain Thor blockchain with the aim to address the mentioned problems. The protocol expands on some of Ethereum's fundamental building blocks and seeks to offer technical solutions powered by VeChain’s governance and economic models to make blockchains more user-friendly and create new business ecosystems with greater efficiency and trust. Keeping this mission in focus, VeChain Thor intends to host technological features tailored to the specific requirements of businesses, users, and developers.
With a mission to make the platform more user-friendly for enterprise adoption, the VeChain Thor protocol enables meta-transactions, or gasless transactions. Meta-transactions are those transactions where users aren’t required to pay the gas fee. Meta-transactions on the VeChain platform are characterized by multi-party payment, multi-task transactions, controllable transaction life cycle, and transaction dependency. The transactions aim to offer the following characteristics:
Controllable Transaction Life Cycle: Users can set the time when a transaction is executed or expires if it is not included in a block.
Fee Delegation: Fee delegation is a mechanism where ordinary people can use decentralized applications (DApps) without purchasing cryptocurrencies.
Multi-task Transaction (MTT): The VeChain Thor blockchain enables a single transaction to perform multiple tasks. Developers can form batches of similar transactions and execute them in one go.
Transaction Dependency: Set dependencies to ensure the execution order meets the business requirement; transactions that are dependent on the execution of others are executed only when required criteria are met.
Another essential feature of the VeChain protocol is its proof-of-authority (PoA) governance mechanism. The proof-of-authority consensus is a consensus algorithm that requires nodes to be authorized to participate in the blockchain consensus. Nodes receive equal chances to publish new blocks and get rewards once they have been authorized. As mentioned in the whitepaper, the VeChain Thor protocol is maintained by the Authority Masternode Operators, who have a common interest in developing the VeChain ecosystem. PoA addresses enterprises' common concerns of inefficient energy use. Following are solutions that the mechanism aims to provide:
Only a tiny amount of computer power is necessary to accomplish network security and consensus integrity.
Hard forks can be avoided if authority Masternodes fail to upgrade due to the built smart contract.
The Foundation verifies the identities of all Authority Masternode Operators.
The VeChain network is fueled by a dual-token system, VET and VTHO. The objective is to prevent transaction fees from being directly exposed to price volatility. VET acts as a value-transfer medium or smart money that allows quick value circulation within the ecosystem. On the other hand, VTHO represents the actual cost of using the VeChain Thor blockchain and will be burned after certain blockchain operations are completed. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means, the tokens are lost forever. Tokens are usually burned to reduce availability and increase market value. Simply put, VTHO is the native utility token of the platform primarily used to pay for transaction fees and enable smart contract executions. Holding VET generates VTHO automatically. In other words, everybody who owns VET receives VTHO that may be exchanged and traded, allowing users to obtain more VTHO for larger-scale tasks like hosting a blockchain application.
History of VeThor (VTHO)
VeChain Foundation oversees VeChain Thor with the VeChain Steering Committee as the elected governing body that is at the heart of its governance system. The group oversees numerous functional committees and represents the balanced interests of all VeChain Thor blockchain stakeholders. The committee consists of Renato Grottola, George Kang, Antonio Senatore, Sunny Lu, Jay Zhang, Peter Zhou, and Margaret Rui Zhu.
VeChain was started as a subsidiary of one of China’s major blockchain companies, Bitse. The currency was developed as a modified fork of Ethereum. Therefore, VeChain (VEN) token was initially used to function on the Ethereum blockchain. After transitioning into its own blockchain in 2018, the VeChain blockchain (VEN) was relaunched as VeChain Thor (VET) blockchain.
How Are New VeThor (VTHO) Created & Earned?
Users can create VTHO by holding VET tokens for a long time to perform transactions at no extra cost. 70% of the transaction fee paid in VTHO in each block is burned, and the remaining 30% is rewarded to the Authority Masternode that produces the block.
