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.
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
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.
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
STAKEHOLDERS BENEFIT FROM COLLECTIVE VALUE CREATION THROUGH THE DEVELOPMENT OF THE ECOSYSTEM
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
Investors as well as users of the platform and ecosystem projects stand to benefit as the aggregate value of the ecosystem increases
“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
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
Apply for funding support for your projects that benefit the VeChain ecosystem
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.
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.