The VeChain Foundation is a non-profit organization based in Singapore. It is one of the leading public blockchain platforms at the enterprise level.
The project was founded and started by Sunny Lu in 2015. He is ex CIO of Louis Vuitton in China and worked in Fortune 500 companies as IT-executive for over 13 years. VeChain has accumulated great experience in an ever-expanding list of industries.
The main goal of VeChain is to connect blockchain technology to the real world. It provides a comprehensive management structure, reliable economic model and advanced IoT integration in the real-world applications.
What is IoT technology?
IoT (Internet of Things) is a system of interrelated computing devices, mechanical and digital machines, objects, living creatures or people that are provided with unique identifiers (UIDs). It provides opportunity to transmit data over the network without requiring a ‘human to computer’ interaction.
The IoT system consists of smart devices with network support that use built-in processors, sensors and communication equipment to accumulate, send and process the data they acquire in their environment.
IoT devices share their data by connecting to an IoT gateway. Sometimes the devices cooperate with other related devices and affect the information they receive from each other. Devices perform most of the work without human involvement, but people can interact with devices to set them up or access data, for example.
How to use VeChain in Atomic Wallet?
VeChain is a Coin and it has token to pay fee for transactions. You should send Coins on your wallet and the system will generate Tokens by itself. More balance – more tokens. Transactions will not be possible without the Tokens.
Manage VeChain in one simple clear interface!
Atomic is a custody-free multi-asset Wallet with decentralized order book and cross-chain Atomic Swap exchange.
Click on your public key to copy it. Use Ctrl-V to paste the address to send. Enter the password to confirm the transaction and click the ‘Send’ button.
All keys are stored in an encrypted manner on the end-user device and never leave it. All data is stored in an open blockchain and is totally decentralized.