You are using an out of date browser. It may not display this or other websites correctly. You should upgrade or use an alternative browser.
Kiwi Farms
VeChain is a Proof of Authority token built on the Thor blockchain that aims to have a high transaction per second rate. Blocks are formed by a "committee" of nodes that are randomly selected by the network to insure accuracy. A Block will then be periodically reviewed by other randomly selected nodes before being approved as "safe". The Ve Foundation maintains the odds of a Block reversion, while not impossible, are infinitesimally small (0.0000001%).
The purpose of VeChain is to provide validation and permanent decentralized records for Information Technology transactions. An example that has already been deployed in the economy is the use of barcode tracking of various shipments in the global supply chain, as well as proof of ownership for luxury goods shipped globally. The blockchain supports the production of dAPPS, and its scalability means that anyone can use it for their shipping processes and tracking in the same way Amazon tracks its packages right now. This can be applied to industries that right now have huge inefficiencies in their global shipping, such as food supplies. A shipment of Mexican Avocado's for example, could travel through any number of middlemen before reaching your plate, and their provenance cannot always be guaranteed. VeChain however can track each box of Avacado's from Farm to Table no matter whose hands they are passed too.
VeChain is already attracting interest in companies who need more efficiency in their shipping ability, especially companies in direct competition with Amazon. Wal Mart has already begun testing the use of VeChain in their business with China.