VeChain (VET)

VeChain's utility token.

VETText

Type

Native Coin

Precision

18 decimal places

Total supply

86,712,634,466

What is a Native Coin?

A native coin, in the context of a blockchain, refers to the primary cryptocurrency or digital asset that is native to a specific blockchain network. It is usually the fundamental unit of value and serves various purposes within the blockchain ecosystem.

Native coins are designed to be used within the specific blockchain network and are often used as a medium of exchange, store of value, or as a utility token to access and interact with the network's features and services.

Why does VET have 18 decimal places?

One of the differentiating factors between cryptocurrencies and fiat currencies is divisibility. VET can be broken down into multiple subunits, the smallest being 1 wei and there are 1,000,000,000,000,000,000 wei per VET. One of the main advantages of divisibility within VeChain, is that micropayments can be facilitated far easier than with traditional fiat currencies. Incentivization through micropayments, coupled with many other features, makes VeChain very suitable network to support the advancement of sustainability goals.

What is a total supply and is it fixed?

The total supply, or max supply, is the maximum amount of a cryptocurrency that will ever exist in the lifetime of the blockchain. It is analogous to the fully diluted shares in the stock market. When a cryptocurrency states a total supply, then that value should be fixed and should not change. A fixed, total supply enhances transparency and predictability thus providing clarity to users and investors, allowing them to assess the potential value and long-term viability of the cryptocurrency.

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