VeChainThor (VTHO) is a mobile wallet platform to support VeChain coin (VET) storage, this platform was developed by VeChain team after the mainnet (mainnet) launch of the project. According to the project description, VeChainThor is an open source, secure, simple and useful wallet for the VeChainThor blockchain.

Currently, the developers are still in the process of perfecting VeChainThor. Users can download VeChainThor on iOS or Android.

Features of VeChainThor

High level of safety and security: VeChainThor wallet has undergone a series of security checks performed by reputable security companies, including feature testing, source code review, smart contract audit and input security, etc.

Multi-platform digital asset management system: VeChainThor Wallet provides a safe and efficient cryptocurrency trading environment. With wallet check feature, users can effectively convert tokens, link X nodes and track the balance of digital assets in other VeChainThor wallets such as hardware wallets and desktop wallets.

X node link service: Node X participants can transfer node X state from Ethereum wallet (e.g. MEW) to VeChainThor wallet using X node linking service.

VTHO (Vethor Token) Rewards: When VeChainThor launches a full node version, node program participants can receive VeThor tokens (VTHO) rewards for storing VeChain in the VeChainThor wallet. VTHO is a Vechain token, used to pay transaction fees, similar to NEO’s GAS.

What is VeThor Token (VTHO)?

After successfully launching the mainnet, the VechainThor blockchain has a new token called Vethor (VTHO) that coexists with the VET coin.

VeThor (VTHO) acts as a GAS fee in the VechainThor blockchain network.

Types of rewards VTHO

In addition to the default rate, also known as the type 1 bonus, there are 3 other methods that allow you to earn more VTHO than the base rate:

1st class reward

Requirements: For VeChain, it doesn’t matter how many you have and you don’t need to put them on a node.

Thor Power Generation Rate: 1 VET gets 0.000432 thor and stays the same every day. This number may increase in the future, but will not decrease.

Type 2 rewards

Requirements: Own a permission node

Thor Power Generation Rate: 30% of total Thor Power used by blockchain transactions will be rewarded to 101 owners of Thrudheim Masternode. The remaining 70% will be worn out with use.

3 type rewards

Requirements: Authority or economy node (excluding the smallest VeThor X node)

Thor Power Generation Rate: The VeChain platform has created a special fund called Foundation Reward Pool, in which there are 15 billion VET. The Thor Power generated by this fund will be distributed among those who qualify for the category 3 rewards.

Type 4 bonus:

Requirements: Authority node or economic node X

Thor Power Generation Rate: The VeChain platform has established a special fund called Foundation X Reward Pool, in which there are 5 billion VET. The Thor Power generated by this fund will be distributed among those who qualify for the Category 4 rewards.

Conclude

Light, fast and good security are the outstanding advantages of VeChainThor, but its disadvantage is that it “requires VeThor token (VTHO)” as transaction fee for sending VET. However, VTHO is what makes the VeChain network different.

You can see VTHO prices here.

According to AZCoin News

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