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#On-Chain Activity

Here are some of the key on-chain metrics for VeChain. High failure alert!

  1. Market Capitalization:
  • US$ 1.365.280.334 VET
  • US$ 81.826.902 VTHO
  1. Total Supply:
  • 86,712,634,466 VET coins.
  • Unlimited VTHO
  1. Circulating Supply:
  • 72,714,516,834 VET
  • 64.41B VTHO
  1. Transactions per Day: 232.860 VET

  2. Active Addresses: 2.149.148 VET

  3. Block Time: 10 sec VET

  4. Hash Rate: No, proof-of-authority (PoA) consensus algorithm called Proof of Authority 2.0 and has Authority Masternodes (AMs) responsible for block validation.

  5. Token Holders: 643.439 VET Holders 2.016.796 VTHO holders

  6. Token Velocity: seems to be stable and uptrending (image 2).

  7. 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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