What is VeThor?

VeThor Token (THOR) is part of VeChain's dual token system, which includes VeChain Token (VET). Users receive THOR as a reward for holding VET, and while VET can be utilized to deploy applications on the VeChain platform, THOR serves as a means to pay for applications and transactions within the network. This economic model is designed to cater to enterprise needs, differentiating itself from other blockchain structures where increased usage raises costs.

VeChain has been transitioning from an ERC-20 token on the Ethereum blockchain to establishing its independent network. The foundation has outlined plans for this transition in their roadmap, which includes developing partnerships and launching new features such as a mobile wallet and ledger integration. Collaborations with firms like Fanghuwang.com, BMW, Groupe Renault, and DNV GL have been reported, with a focus on enhancing the financial services sector within their development strategy.