How VeChain Creates Secure Business Environment?

VeChain, founded in 2015, aims to create a trust-free, distributed business platform to enhance supply chain transparency and efficiency. The VeChain Thor Network, launched in 2018, integrates smart contracts and IoT solutions to connect blockchain with real-world applications. Technologies like RFID, NFC, and QR codes enable product tracking, ensuring quality and authenticity. VeChain's dual currency system, VET and Thor Power, supports transactions and governance, maintaining stable token prices. The platform is designed for mass adoption, benefiting businesses and consumers by enhancing trust and reducing counterfeits.

What is the primary goal of VE Chain as mentioned in the video?

• To replace traditional banking systems

• To create a new cryptocurrency

• To develop a social media network

• To build a trust-free and distributed business platform

Which two main functions does the VE Chain Thor network combine?

• Social networking and messaging

• Smart contracts and IoT

• Cryptocurrency mining and trading

• Video streaming and gaming

How do RFID tags and QR codes contribute to VE Chain's supply chain solution?

• They offer discounts on products

• They track product location and status

• They provide entertainment content

• They connect to social media platforms

What is the purpose of the dual currency system in the VE Chain ecosystem?

• To increase the price of VET tokens

• To stabilize the token price and reward validators

• To create a new form of digital art

• To support online gaming transactions

What is the transaction capacity of the VE Chain network?

• 100 transactions per second

• 100,000 transactions per second

• 1,000 transactions per second

• 10,000 transactions per second