The smart-contract platform launched in 2015 for enterprise use, like databases, IoT, and supply chain tracking, went public in 2017. Has a second token — VTHO, which is used to pay for transfer fees, instead of its precursor. This is done to control the transfer fee price, reducing potential losses for using this blockchain to perform workloads.
VeChain was co-founded by Sunny Lu, an IT executive, and formerly CIO of Louis Vuitton China. Advocated “trust-free” enterprise/business structures that do not suffer from information corruption. Second co-founder — Jay Zhang, who worked in the finance and risk management sphere.