On the other hand, you may be wondering why should you get VET coins and trade them? Well, I would like to talk a bit on that topic and give you some points that I consider would give you the incentive to become a part of the network. I personally would recommend Bitfinex as it supports fiat money purchases, Binance and Huobi. If you would like to buy some VeChain coins you have a few options from which to take your pick. Mjolnir Node – requires 15 million or more VET coins.Thunder Node – which requires between 5 million and 15 million VET coins.Strength Node – which requires between 1 million and 5 million VET (VeChain coins).There are 3 different types of Economic nodes: Authority nodes are the ones that create and validate blocks on the blockchain network, while the other nodes are there to stabilize the price. The validator/authority nodes are called Thrudheim and the rest are Economic nodes. There are two different classes of nodes. Nodes are an integral part of any network as they support it and can validate transactions. Also, there is no difficulty adjustment in the network as the validator nodes don’t actually have any competition. The block size is not limited or a pre-set value. The hash function that VeChain uses is SHA-256 and has a block time of about 10 seconds between blocks.

It is similar to a Delegated Proof оf Stake (dPoS) network, but the nodes are being voted on by a set group of individuals who are in charge of keeping them in check and monitor their performance. VeChain is a semi-decentralized blockchain network that operates and confirms transaction through the Proof of Authority consensus method which is abided by 101 Authority nodes. The official roadmap is being updated regularly, you can find the link at the end of this article. The team is currently working on cross-chain transactions and expanding the Thor ecosystem to provide even more flexibility to the users. With the recent development of Thor and goal for supporting dApps on the network, new and improved features are just piling up. The future of the project is very bright. The explosive growth of the project has pushed development to its peak and currently, Crosschain technology is being worked on for the network. With the help of the dedicated team comprised of financial, technology and blockchain experts like Jay Zhang, Kevin Feng and Jianliang Gu, VeChain has come a long way. Initially it was launched as an ERC20 token and later on, it was moved to the native coin after the release of the mainnet. VeChain’s development started back in 2015 and the team worked on it for 2 years before doing an ICO. The concept for VeChain was created by Sunny Lu, the founder of the project. The network relies on Proof of Authority and 101 nodes to do the heavy lifting Lack of complete decentralization – while yes, the system is efficient, it is not completely severed from third-party influence.Fast growth – while not considered a real disadvantage, it can become one without proper guidance and a clear goal.Here are some other disadvantages that you should take into consideration: There is a Board of Steering committee that actually makes the network more centralized and private than others like Ethereum. One of them is the centralized governance. Of course, I would like to also talk about the shortcomings of the project.

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