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Reason To Buy Vechain(VET)

• It works on the Proof-of-Authority (PoA) consensus algorithm.
• VET is the native cryptocurrency of the VeChainThor ecosystem.
• It is used for financial transactions on its blockchain.
• There is a maximum supply of 86 million VET coins.

VeChain was launched in 2016 but started its venture a year back led by Sunny Lu, who is regarded as a great admirer of Blockchain technology.

It started with the aim of providing blockchain-based solutions to businesses built on its VeChainThor blockchain. It uses the Internet of Things (IoT) and distributed governance to solve some of the major problems with supply chain management. VeChain has been powering a large number of businesses with its BaaS product and has been a notable development in the market. It also allows for greater security, accessibility, transparency, cost reductions and ultimately places more power on the users.

Things to consider before Buying Vechain(VET)

• VeChain has been a consistent player in delivering a wide range of DApps which are used in the real world.
• It also allows users to become Authority Masternodes if they have at least 25 Million VET coins. 
• Users or Businesses adapting Vechain can use its Blockchain as a Service (BaaS) product called ToolChain.

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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.