15 Examples You Can See VeChain Thor Being Used

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VeChain Thor Energy (VTHO) is primarily used is to power transactions on VeChain and represents the cost of transacting on the platform. This guide discusses VTHO and highlights some of its uses. 

Understanding Vechain Thor

VeChain Thor is a token you need to write data on the VeChainThor blockchain. In simpler terms, every transaction on the blockchain (sending data to smart contracts or sending tokens) is paid for in VTHO. The amount of VTHO needed per transaction depends on the size of data you intend to send. For instance, it will cost you around 30 VTHO to do a simple VET transaction. 

On the other hand, you can spend up to 1000 VTHO to send a transaction filled with data to the smart contract. While spending a transaction might be costly, you won’t pay any VTHO to read from the blockchain. Every time you transact on the platform, you will see a “gas used” pop-up message under the blockchain explorers menu. As of today, 1 VTHO equals 1000 gas. This gives you the freedom to transact within the blockchain without using plenty of VTHO. 

Examples of VeChain Thor Use

The VeChain platform tracks authenticity, quality, mode of transportation, storage temperature, and delivery of an alcohol bottle or medicine pack right from the production stage through to when it reaches the consumer. The VeChain platform uses smart chips and sensors that relay crucial information on the production network for that to happen. This information can be accessible in real-time by authorized personnel. 

By applying sensors, all parameters linked with the product are constantly monitored and checked for problems. In case there is a problem, relevant authorities are informed. It is important to note that companies have to spend VTHO tokens to get these services. Apart from manufacturing companies, automobile owners use this platform. They use VeChain to negotiate better policies with their insurance companies.

Industries Where VeChain is Useful

Logistics and supply chain

This industry benefits immensely from the VeChain blockchain. The application of VeChain in this industry is primarily in the form of smart contracts. These contracts trigger actions as soon as the set conditions are met. Through VeChain, supply chain management is better, making it easier to control. Some of the fields using VeChain in the logistics and supply industry include;

  • Luxury goods and brands (expensive whiskeys, handbags, etc.)
  • Traditional retail
  • Agriculture
  • Logistics
  • Automotive industry

Medical industry

The medical industry also used the VeChain platform to a great extent. This platform helps solve two common problems in the medical sector; copying of pharmaceutical products and ensuring quality. Through VeChain, pharmaceutical companies can now track their products and ensure there is no copyright infringement. They also use the platform to ensure medical products are of high quality.