VeChain emerged as one of the most active cryptocurrency during 2017’s “Cryptocurrency Boom.” VeChain defines itself as a pioneer in supply chain management applications using public blockchain technology. VeChain project launched way back in 2017, and since then, it has been advanced to a new level. Vechain (VET) ranked at #16 spot as per market capitalization after the Cryptocurrency Boom of 2017. Sunny Lu and DJ Qian originally invented VeChain, and its essential reason for creation was to solve Physical-World Industrial problems using Blockchain-based Solutions. The Vechain Foundation is a non-profit organization founded in 2017 to support the development, governance, advertisement, advocacy, and clarity and progress of the VeChain network.
The original plan for VeChain began in June 2015, and the initial development of VeChain v1.0 witnessed in January 2016 along with approval for Ethereum TPOC. Later in June that year, VeChain v1.0 was launched. Three months after the launch of the first version, the VeChain released v1.5. The VeChain dashboard included an API gateway, functional smart contract templates, an iOS app. In November 2016, VeChain Launched V2.0 launched with smart contract templates and models for DBMSP, DBGP, and DGIP. Later in May 2017, V3.0 released with the application for supply chain management, including audit, agriculture, autos, and luxury goods.
VeChain offers companies across a variety of enterprises with solutions to their everyday problems using the blockchain. VeChain team is highly experienced and holds the potential to present VeChain as a pioneer in supply chain management.
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