Here are some of the key on-chain metrics for VeChain. High failure alert!
- Market Capitalization:
- US$ 1.365.280.334 VET
- US$ 81.826.902 VTHO
- Total Supply:
- 86,712,634,466 VET coins.
- Unlimited VTHO
- Circulating Supply:
- 72,714,516,834 VET
- 64.41B VTHO
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Transactions per Day: 232.860 VET
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Active Addresses: 2.149.148 VET
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Block Time: 10 sec VET
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Hash Rate: No, proof-of-authority (PoA) consensus algorithm called Proof of Authority 2.0 and has Authority Masternodes (AMs) responsible for block validation.
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Token Holders: 643.439 VET Holders 2.016.796 VTHO holders
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Token Velocity: seems to be stable and uptrending (image 2).
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Succesful transactions: 75%.
The overall performance of VeChain is satisfactory, but there are certain aspects that raise doubts, particularly concerning its health. The block time is only 4 seconds faster than Ethereum, indicating that an upgrade to their mainnet might be beneficial, especially when compared to the impressive speed of Solana, which boasts a block time of 400ms. In contrast, Bitcoin has a block time of 10 minutes, so it could be considered worse in comparison.
One surprising concern is that approximately 1 in 4 transactions fail and are subsequently reverted, which is a significant issue. This high failure rate prevents me from giving a rating higher than 2 stars, as such a level of performance is unacceptable from my perspective when considering the overall health of the network.
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