VET/USDT: Convert and Swap vechain (VET) to Tether (USDT)

VeChain (VET) is a versatile enterprise-grade L1 smart contract platform that originated in 2015. It is recognized for its pioneering role in real-world enterprise applications, utilizing a distributed platform powered by Internet of Things (IoT) technologies, NFC chips, and blockchain to address data-related challenges across various industries. VeChain employs an intelligent two-token model, VET and VTHO, to separate the protocol's store of value and gas fee payment mechanisms, ensuring stable and low costs. The platform is dedicated to driving real-world adoption of blockchain technology, with a focus on sectors ranging from supply chains to sustainability.

VeChain operates through unique identifiers known as VeChain IDs, which are assigned to products. These IDs, tracked by sensors at each step of a supply chain, create a secure environment for all parties involved, documenting and verifying movement data. The platform aims to provide comprehensive information about products and business processes, enhancing market transparency and making international trade more efficient. VeChain software allows enterprise developers to create and run decentralized applications (dApps), offering a higher level of services and goods. The platform also uses proprietary solutions and developments, including ToolChain, My StoryTool, the VeChainThor blockchain, and IoT technology to facilitate processes.

VeChain seeks to disrupt traditional business models, particularly in the supply chain industry. Its transparent technology with no single point of control allows for enhanced security, efficiency, and ease of tracking for all kinds of data, while reducing costs through trustless automation via smart contracts. The platform has wide appeal to many different clients and industries, from carbon and supply chain to international logistics and incentivized ecosystems. VeChain's platform also includes VeBetterDAO, a wave of incentive-based sustainability dApps, aiming to onboard the next billion users to Web3 over the coming decade.

VeChain was created by Sunny Lu, a former IT executive and CIO of Louis Vuitton China, and co-founder Jay Zhang, who previously worked for Deloitte and PriceWaterhouseCoopers in finance and risk management. Established in 2015, VeChain is one of the oldest dedicated smart contract platforms on the market. The platform has continuously demonstrated its leading role as a driver of blockchain in business, working closely with key auditing and certification consultants such as PriceWaterhouseCoopers and DNV to verify data quality and certify industrial processes. VeChain has a maximum fixed supply of 86,712,634,466 tokens and uses a Proof of Authority (PoA) consensus mechanism for network security.

Tether (USDT) is a digital currency platform that was launched in 2014 with the aim of facilitating the use of traditional fiat currencies in a digital format. It seeks to provide a more modern approach to money, disrupting the conventional financial system. Tether has made strides by enabling customers to transact with traditional currencies across the blockchain, without the typical volatility and complexity associated with digital currencies. Tether's USD₮ token is a digital dollar, powered by blockchain technology, and is pegged 1:1 to the USD. This stablecoin provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar accounting unit.

Tether operates as digital tokens built on several leading blockchains, including Algorand, Avalanche, Bitcoin Cash’s Simple Ledger Protocol (SLP), Ethereum, EOS, Liquid Network, Omni, Polygon, Tezos, Tron, Solana, Kava, and Statemine. These transport protocols consist of open-source software that interfaces with blockchains to allow for the issuance and redemption of Tether tokens. Every Tether token is backed 100% by Tether's reserves, and Tether publishes a record of the current reserve assets, maintaining transparency.

Tether's unique feature is that its value is guaranteed to remain pegged to the U.S. dollar. This property makes Tether a safe haven for crypto enthusiasts during periods of high volatility, as they can park their portfolios in Tether without having to completely cash out into USD. Additionally, Tether provides a simple way to transact a U.S. dollar equivalent between regions, countries, and even continents via blockchain, without having to rely on a slow and expensive intermediary, like a bank or a financial services provider.

Tether, initially known as Realcoin, was launched in 2014 by Brock Pierce, Reeve Collins, and Craig Sellars. Brock Pierce is a renowned entrepreneur who has co-founded several high-profile projects in the crypto and entertainment industries. Reeve Collins was the CEO of Tether for the first two years of its existence and has co-founded several successful companies. Craig Sellars has been a member of the Omni Foundation for over six years and has worked in several other cryptocurrency companies and organizations. Over the years, Tether has faced controversies regarding the validity of their USD reserves, at times disrupting USDT’s price. Despite these challenges, Tether has continued to grow and expand its operations.