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#VeChain X Fee-Delegation
Mass adoption can not be expected without fee-delegation, period.

Imagine your country creates an ecosystem dApp to reward environmental friendly behavior.
1/8
 $VET
2/8 An ecosystem wherein a token is used to transfer value from environmental bad behaving companies to good behaving individuals.
For example: Receiving discount tokens ( $DT ) which can be used for public services because you drive an electric car on an economic way.
$VET
3/8 If your mom drives well and wants to use her received $DT to use a public service, she needs to pay a transaction fee to the blockchain nodes to execute the transaction; In the case of Ethereum you need ETH/Gas, in the case of VeChain you need VTHO.
$VET
4/8 Can you imagine explaining your mom she needs (to buy) some $ETH/ $VTHO in order to use the received $DT.
No way this dApp will scale and make it to mass-adoption. This is the reason why a lot of dApps have scaling/ adoption issues; it's totally not user friendly.
$VET
5/8 So this is why fee-delegation is needed;
Transaction fee-delegation is a mechanism that allows ordinary people to be able to use dApps without directly paying the transaction fee caused during their interactions with dApps.
$VET
6/8 The VeChainThor blockchain is the first public blockchain with native fee-delegation. Thanks to this feature, dApps explained in the example can actually come to fruition. Which is currently happening:
San Marino
dnvgl.com/news/san-marin…
China
medium.com/vechain-founda…
$VET
7/8 Anyone can use a dApp while someone else takes care of the tx costs. It can also be useful for companies if the regulations of cryptocurrencies are not clear.

Currently around 97% of the txs on VeChain is fee-delegated*. This shows the importance.
*vechainstats.com
8/8 If you want to know how fee-delegation exactly works, this is an article by Peter Zhou, Chief Scientist VeChain Tech.

Transaction Fee Delegation (VIP-191)
bbs.vechainworld.io/topic/242/what…

VeChain, ready for mass adoption.

#VeChain
$VET
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Martijn Ⓥ | 👨‍🎓 = 🔑
@Martijncvv
#VeChain X $VTHO 1/8
Blockchain technology is a certain way to store data.

In order to store data on the VeChainThor blockchain you need VTHO to pay the transaction costs.

The Authority Nodes (“miners”) will receive 30% of these transaction costs, 70% will be burned.
#VeChain X $VTHO 2/8
Walmart, Givenchy, DNVGL, PwC, BYD, San Marino, Deloitte and everyone else who wants to use the VeChainThor blockchain needs to pay the Authority Nodes VTHO to store their data. There is NO way to use the blockchain without paying VTHO.

So where is $VET
#VeChain X $VTHO X $VET 3/8
We need to know the origin of VTHO to answer this question.

Facts
- Every $VET generates a certain amount of $VTHO/block.
- $VTHO has a certain value in Dollar, based on supply/demand.
- So, $VET generates a certain amount of value in Dollar/block.
Read 8 tweets

Related threads

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Brot KnoblauchHaus (Parody account)
@BredGarlicHouse
#VeChainThor primer 2:
How are Tx costs kept stable on #VeChain
A major hurdle towards enterprise crypto adoption is the price volatility of crypto assets. As discussed earlier,@vechainofficial offers a #BaaS product called #ToolChain which enables enterprises to pay a flat fee.
2/ But how does the foundation manage this?

As we already know, the network fee is paid with $VTHO. However, the Tx costs are calculated in an arbitrary unit called $GAS. The ratio between GAS and #VTHO is 1000:1. So if a Tx costs 21000 GAS, you need 21 VTHO.
3/ So if VTHO price suddenly shoots up 10x, will Tx costs go up 10x too?

No. The beauty of VeChain is that the GAS:VTHO ratio can be adjusted on the fly without disrupting any services. So if VTHO becomes 10x more expensive, the ratio can be made 10000:1 to maintain the Tx costs
Read 8 tweets
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Brot KnoblauchHaus (Parody account)
@BredGarlicHouse
#VeChainThor primer: How to understand utility on the chain:

#VeChain is different from other projects in the sense that you can specifically see what actions on the chain relate to utility and what’s not.
A lot of leading chains have high number of Txns, but the reality is that most of it is just coins moving from/ to exchanges and between wallets.

VeChain uses what’s called “Clauses” and every Tx can have multiple clauses. Here are the important ones:
1) #VET clause: This works like what we are used to seeing on other chains, a VET clause happens when the primary token of the chain, VET is moved around

2) #VTHO clause: This happens when the secondary token and network fuel, VTHO is moved around
Read 11 tweets
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Nguyen Sy Thanh Son
@thanhson1085
You need around 10 minutes to own a relayer -> #TomoX saves Relayer Owner’s time
You need deposit 25000 $TOMO to propose a new relayer, but you can resign and get back your fund any time you want -> Zero fees, #TomoX saves Relayer Owner’s money.
All relayers share the same order book, matching engine -> volume, liquidity is better, it’s really good for traders
Many relayers run around the world with different domains. #TomoX runs on TomoChain’s nodes, a truly decentralized network -> Nobody can block #TomoX
Read 7 tweets
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swarnim bharat
@a_sandhan
#Ecosystem How ecosystem (international n domestics) operates.
👉Friends u will be surprised to know that only 1000 families control the lever of power in India
👉Their hold over all narratives/govt policy/information/how history to be presented is absolute
👉They have their people everywhere in all pillars of democracy. They control all resources
👉Every year new independent people enter system, how r they controlled or co-opted by system
👉Big industrialists n MNC funds many trusts which gives scholarships for foreign studies, they run big club houses, have hotels at exoctic location worldwide
👉Any independent individual in administration/police/army/judiciary/politician/media r given
Read 11 tweets
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Matthew Willemsen
@mwill_crypto
0/ Left feeling glum after yet another strong #cryptocurrency sell-off? Then this thread's for you!

Below are 22 #blockchain-related things that caught my eye over the past ~24 hours.

Regardless of price performance, this #crypto space just keeps on developing!
1/ 🎮 @ThetaToken parent @SLIVERtv360 formed a partnership with Tencent Games to launch a 24-7 live #eSports channel powered by #Theta rewards.

@RoE_Tencent players can purchase in-game items and upgrade using the $THETA #crypto token! sliver.tv/win/roe
2/ 💸 @AragonProject's six Nest grantees shared their project's quarterly progress reports.

See link for latest on @DAppNode, @EspressoOrg, @Frame_ETH, @Pando_Network, @PryLabs and @SpaceDecentral. All are improving the #Aragon and #Ethereum ecosystems! blog.aragon.org/aragon-nest-q3…
Read 24 tweets
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Matthew Willemsen
@mwill_crypto
0/ Having trouble staying on top of all the latest in the world of #crypto and #blockchain? I've got you covered. Well, at least for the last 24 hours or so 💁‍♂️

Let's get this thread going shall we.
1/ 📝 @DPRating published the September edition of its #GitHub Audit, rating more than 200 #crypto and #blockchain projects.

Teams that ranked disproportionately well included @Raiden_Network [ $RDN ], @NulsService [ $NULS ], @ParticlProject [ $PART ], and @POANetwork [ $POA ].
2/ ♻️ @PowerLedger_io [ $POWR ] introduced Asset Germination Events (AGEs), furthering the utility of its native #crypto token.

AGEs will allow people to invest in and co-own energy assets. More details to come via a Friday AMA. medium.com/power-ledger/p…
Read 24 tweets

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