What is VET?

VET is the cryptocurrency of VeChain, a blockchain-powered supply chain platform. VeChain has an unique dual-token system, VET and VTHO. VeChain aims to disrupt traditional supply chain models, an industry that has gone through little change in recent decades. VeChain's model appeals to businesses that are looking to reduce supply chain friction and have more transparency. VET is a proof-of-stake token, that has a separate feature called of proof-of-authority. Proof-of-authority involves masternode operators maintaining the protocol in their own interest. Proof-of-Authority addresses enterprises' common concerns of inefficient upgrade and waste of energy. VeChain is governed by a community-elected Steering Committee that facilitates decision making and execution.