The VeThor Token (VTHO) is a cryptocurrency token that is used to power transactions and smart contract execution on the VeChainThor blockchain.
VTHO is created and distributed as a reward to holders of the VeChain Token (VET), which is the main cryptocurrency of the VeChainThor blockchain. VTHO is generated by holding VET in a compatible wallet, and the amount of VTHO generated is proportional to the amount of VET held.
VTHO is used to pay for transaction fees and smart contract execution on the VeChainThor blockchain. This means that businesses and projects that use the VeChainThor blockchain to manage their operations need to buy VTHO, or buy VET to generate VTHO, in order to use the vechain blockchain.
Some essential facts on VTHO:
- The total supply of VTHO is unlimited, for the current supply see https://vechainstats.com/charts/#vtho-supply
- Each basic transaction (for example a VET transfer) requires 21000 gas.
- 1000 gas equals 1 VTHO
- One basic transactions costs 0.21 VTHO
- 70% of the VTHO used for a transaction gets burned, 30% gets paid out to the Authority Node creating the block.
- 10.000 VET tokens generate 4.32 VTHO every 24 hours.
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