Vechain is wanting to create a trustless ecosystem on the Blockchain and provide a platform that supports Decentralized Apps, tracks supply and logistics and much more, see the full review HERE
For a masternode beginners guide click HERE
For a full in depth masternode buyers guide click HERE
ROI (annual) – Not yet available
MASTERNODE WORTH – Not yet available
STAKING REQUIRED – 25mil for authority MN
MARKETCAP- $1,758,112,156 USD
VOLUME – $71,091,400 USD
ACTIVE MASTERNODES? – Not yet available
GENESIS BLOCK – Not yet available
USE CASE – Supply chain
WORKING PRODUCT? – no
COMMUNITY/DEVELOPER ACTIVITY – Very High
What is the purpose of Vechain Masternodes?
VeChain are creating masternodes in order too to expand from being limited to existing just as supply chain based enterprise into also being a platform to build decentralised apps (DApp’s) improving on the likes of existing blockchains like ethereum. Masternodes are required to run a Proof of Stake (POW) network like VeChainTHOR will be. Click here for full info on masternodes
Are there different nodes or tiers?
Yes, Vechain has a tierd Masternode structure which requires different amounts of staking/collateral. VeChain will offer 2 classes of Masternodes; Authority and Economic. Within those there are tiers based on the collateral held. There will be 101 Authority Masternodes at the launch of the platform. The time to qualify as an X node has passed but you can still get an authority MN or basic economic node.
Servers connected to the network running the VeChainThor full node software and must possess a full copy of the blockchain. They are only full nodes on the network that can authorize, validate and produce blocks.
Highest weight per vote in community voting.
Stabilize the ecosystem by using their vote to influence the governance acting as a distribution of power withing the blockchains economy.
Vechain THOR – VET Explained
There is some confusion with the way VeChain is running their masternode system. VeChain announced plans at the end of 2017 to launch its mainnet VeChainTHOR at the end of July 2018. The new platform will use 2 tokens;
1. VeChain Tokens – VET
2. Thor power – THOR
Will be used as the payment currency for businesses to utilise the blockchain. The more VET a business holds the higher the priority and rights they receive while using the blockchain. Holding VET will also generate THOR similar to how holding NEO will generate GAS.
THOR – Thor Power
The THOR that the holders of VET generate can be used to perform smart contracts and run apps on the blockchain.
Here is an approximate calculator of the THOR you can generate passively by holding VET tokens.
April – May 2018 – Alpha 1.0
May – Early June 2018 – Alpha test 2
Early-end of June 2018 – Public beta test
End of June – Mainnet Launch
*After mainnet launch the VeChain token will change to VET and all owners of VET will begin generating THOR.
The near future looks good for VeChain providing its mainnet launch goes to plan, unlike EOS Mid June 2018 which s still trying to recover. Having a very firm grounding in China they are partnered with some absolute Giants, read the full VeChain review here for a full analysis
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Disclaimer : The Author of this article was holding Ve Chain ($VEN) at the time of writing this article. All content is research, opinions and personal view points from our Analysts. This is not financial advice and should not be treated as such. If you have any queries or edit requests please contact [email protected]