VeChain Foundation

©2019 by VeChain Foundation

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VeChainThor

The public blockchain that derives its value from activities created by members within the ecosystem solving real world economic problems

META-TRANSACTION FEATURES

Meta-transaction features native to VeChain Thor blockchain’s core protocol, such as multi-party payment, multi-task transaction, controllable transaction lifecycle, transaction dependency, make the development more user-friendly for enterprise adoption.

Controllable Transaction Lifecycle

With BlockRef and Expiration transaction fields, users can set the time when transaction is processed or expired if not being included in a block.

Multi-party Payment (MPP)

Flexible transaction fee delegation schemes enable a freemium model within a decentralized application to onboard users without friction.

Multi-task Transaction (MTT)

Multi-function atomic transactions allow developers to batch payments, add multiple calls to different contract functions into one transaction and determine their sequence.

Transaction Dependency

Set dependencies to ensure the execution order meets the business need, transactions that specify a dependency will not be executed until the required transaction is processed.

PROOF OF AUTHORITY

Authority Masternode Operators, with the aligned interest in the development of VeChain ecosystem, maintain the VeChainThor protocol according to the Foundation's governance policy. PoA addresses enterprise' common concerns of inefficient upgrade and waste of energy.

Low computation power required to achieve the network security and consensus integrity

Controlled via the built-in smart contract, hard forks can be avoided in case authority masternodes fail to upgrade

All Authority Masternode Operator identities are strictly verified by the Foundation

GOVERNANCE

The balance between decentralization and centralization ensures efficiency and transparency. Community-elected Steering Committee, as the governing body of the ecosystem, facilitates decision making and execution supported by the on-chain governance mechanism.

ECONOMIC MODEL

The unique dual-token system (VET+VTHO) significantly helps separate the cost of using blockchain from market speculation. Due to the correlation with the blockchain resource utilization, the cost is more predictable with the monitoring of the VTHO supply and demand. In addition, Foundation's governance mechanism further stabilizes the cost.

VTHO generation from any address holding VET at the predetermined velocity of 5x10-8 per VET per block (10s)

70% of VTHO paid in each transaction is destroyed and the rest is awarded to the Authority Masternode Operator

Adjustment to variables (e.g. gas price, velocity) can be made to maintain the equilibrium of VTHO demand and supply

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STAKEHOLDERS BENEFIT FROM COLLECTIVE VALUE CREATION THROUGH THE DEVELOPMENT OF THE ECOSYSTEM

VeChain Foundation

Key enabler of the ecosystem, focusing on building the underlying technology, infrastructure utilities and services. The Foundation holds a significant reserve to support the ecosystem growth

Community Investors

Investors as well as users of the platform and ecosystem projects stand to benefit as the aggregate value of the ecosystem increases

Institutional Founders

“Blockchainization” of portfolio companies to create additional value for VC/PEs; additional co-investment opportunity in standalone blockchain project

Enterprise Users & Partners

Purchase blockchain services from VeChain’s partner network or leverage VeChain technologies to build enterprise applications to improve operational and capital efficiencies for existing businesses at a reasonably stable cost, which can be further offset by holding VETs

Developers / Startups

Develop applications and contribute to VeChain’s technologies in their specialized areas, and be supported with business leads, capital investment, incubation and technology from the ecosystem

Research Partners

As part of VeChain’s VeResearch program, contribute to the technological research & development endeavor to improve the underlying technologies to meet the growing business needs

RESOURCES

Grant

Apply for funding support for your projects that benefit the VeChain ecosystem

Application Hub

Accelerator and Bounty Program

STEERING COMMITTEE

A well governed foundation is the key to longevity, growth and stability. Making an actionable governance system, that matches the identity we envision for the VeChain ecosystem. At the core of its governance structure, VeChain Steering Committee, as the elected governing body, oversees various functional committees and represents the balanced interests of the VeChainThor blockchain stakeholders as a whole.

Renato Grottola
George Kang
Daniel Kelman
Sunny Lu
Jay Zhang
Peter Zhou
Margaret Rui Zhu

ADVISORY BOARD

VeChain has sought out a promising Advisory Board to be the backbone that the Foundation can lean on to provide immense wisdom and experience in the design, implementation, and vision of VeChain.

Founder and CEO of Breyer Capital

Jim Breyer
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PwC Cybersecurity and Fintech Partner

CY Cheung
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Founder of Longhash and CEO of chainb.com

James Gong
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Visiting Fellow of the Tsinghua University, Former Member of House of Representatives of Japan

Masanari Koike
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Co-Founder and CEO of OceanEx

Jay Zhang
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Global CTO, Deloitte Blockchain Team

Antonio Senatore
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Founding Partner of gf.network and Fenbushi Capital

Bo Shen
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General Counsel of gf.network, Partner at Broad&Bright, General Counsel of Fenbushi Capital

Roland Sun
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