VeChain is a supply chain tracking system that launched in 2015 and combines physical tracking with blockchain record-keeping. As of now, it is ranked #37 with a market cap of $3B on CoinMarketCap.
Global supply chain-based blockchain project VeChain has recently made an announcement of a new partnership with crypto payment services Alchemy Pay that will allow people to use its VET token as a payment method at two million worldwide stores.
Due to these recent developments, the price of the VET token posted a temporary gain of 4% before falling back to pre-announcement prices and trading as usual from there.
VeChain has a proof of authority (POA) consensus mechanism that has 101 master nodes and functions by verifying identities and reputations, unlike Bitcoin's or Ethereum's (proof of work and proof of stake) etc.
Thanks to partner @AlchemyPay, $VET can now be used to buy goods at 2 million+ stores globally!— VeChain Foundation (@vechainofficial) April 27, 2022
Using our advanced low-#carbon #blockchain, transactions cost fractions of a cent & are processed in seconds from any #VeChain wallet!$ACH #DeFi $VTHO #Web3https://t.co/ceeHRpcbKT