Vichain project, launched in June 2015, is a global information conversion platform based on blockchain technology, committed to creating a trusted distributed business ecosystem with transparent information, collaborative efficiency and high-speed value transmission. It digitizes people, things and things in the real world, enabling information connectivity and mapping the real business world onto the blockchain. BaaS (Blockchain as a Service) provides enterprise users with commodity asset management, traceability, anti-counterfeiting verification, new supply chain management and other services. Since its inception, Vichain has focused on the development of blockchain and Internet of Things technology, and has become one of the few blockchain platforms in the world that are applied by well-known enterprises in various industries.
According to the expected future usage of Raytheon blockchain and related projections, VET mostly involves fractional forms in smart payments. In order to solve this problem, weichain will exchange the token in a ratio of 1:100 when the token replacement is issued on the main network. Every ERC-20 VEN can be replaced with 100 VET. After the replacement, the VET configuration requirements of each node will be increased by 100 times.