HBAR vs VET: Basic Info Before Investing
While trusting your gut matters, experienced traders understand that detailed analysis is far more important. If you are considering HBAR vs VET in your trades, the basic info provided in this article could assist with your decision.
The guide discusses what makes Hedera and VeChain stand out from other coins and each project’s key features. We’ll also cover the two tokens’ price performance and predictions to consider which token could perform better in the coming years. Here’s a detailed overview of Hedera and VeChain!
What Makes Hedera Stand Out?
Hedera doesn’t use blockchain technology as a base for its project. Instead, it’s a decentralized distributed ledger that uses the hashgraph consensus. That’s a proof-of-stake protocol famous for bringing bandwidth usage close to perfection. Thanks to that, Hedera can reach an impressive speed of over 1,000 transactions per second.
The basic protocol’s idea is for the node community to agree on the order of adding the transactions to the ledger. Hashgraph is an aBFT consensus, which makes it the most secure option for distributed systems. Hedera’s main goal is to create an economy where individuals and companies can design dApps to fit their objectives.
Apart from the consensus services, Hedera also uses smart contract tools and token services. It is compatible with the Ethereum Virtual Machine and allows programming in Solidity. Another convenient feature is a file storage service, which allows creating, updating, and removing files with proof of deletion.
Token services on Hedera let you configure, mint, and manage coins, including changeable tokens and NFTs. Hedera offers low transaction costs per transfer as they are always set at $0.0001. Thanks to its unique consensus system via asynchronous BFT, Hedera offers a superb security level.
Hedera uses the native HBAR token for transaction fees and micro and in-app payments. Its market cap goes over $2 billion, with the current token value set at $0.066. HBAR’s worth is far below its $0.49 all-time high in 2021 but also considerably above the all-time low, which was $0.01 in 2020. The circulating supply is at 26.3 billion tokens, which is over half of the maximum supply set at 50 billion.
What Makes VeChain Stand Out?
The story of VeChain begins in 2015 in Shanghai. It was designed as a blockchain-as-a-service crypto network aimed to support data management and logistics. It primarily focuses on businesses and governments to enable simple migration to the blockchain.
VeChain focuses on creating actionable and transparent data for the supply chain industry. Manufacturers can keep track of their products from the actual making process to distribution.
VeChain uses a two-coin system, with VET being the official platform’s token, which serves for transactions, and it’s accessible for trading at major exchanges. VTHO is the abbreviation for VeChainThor Energy, which powers transactions. The two-token system is convenient because it assists in separating market speculation from using the chain.
The meta-transaction features are important for making VeChain user-friendly. The platform uses a fresh, innovative fee delegation protocol, so companies can use smart contracts and a separate gas account to handle any fees. It’s possible to adjust dependencies to prevent certain transaction execution before another transfer is finalized. That feature is convenient to ensure the order of execution meets the company’s requirements.
The current VET’s value is set at $0.0278, while its market cap is just above $2 billion. That’s enough to put it among the top 40 cryptocurrencies in the overall ranking. VET reached its highest value in 2021 when it was $0.22. A year before that, it was at the lowest value of $0.0029.
The crypto market has been showing signs of recovery in recent months, and the forecasts for HBAR and VET are optimistic. Hedera will continue stabilizing by the end of the year and will range between $0.11 to $0.17. By 2030 that value might double to $0.36.
VET might increase to $0.047 before the year ends. By 2025, the coin’s value could reach $0.036, and in seven years, it could exceed $0.15.
While both could be attractive investments, Hedera seems to be showing a higher potential. If you are looking for a safer option, you can consider converting XMR to BTC, too. Ultimately, it’s important to consider all factors before deciding which trade to choose.