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ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Name | Bitpanda Asset Management GmbH, Bitpanda GmbH |
Relevant legal entity identifier | 9845005X9B7N610K0093, 5493007WZ7IFULIL8G21 |
Name of the crypto-asset | VeThor |
Consensus Mechanism | VeChain employs a Proof of Authority (PoA) 2.0 consensus mechanism, where trusted Authority Masternodes are responsible for validating transactions, providing both security and efficiency for enterprise applications. Core Components of VeChain’s Consensus: 1. Proof of Authority (PoA) 2.0: Trusted Authority Masternodes: VeChain’s PoA 2.0 relies on a set of pre-approved Authority Masternodes to validate blocks and confirm transactions. These nodes are selected based on their reputation and reliability, ensuring network integrity and trustworthiness. 2. Finality and Security: Immediate Transaction Finality: Once a block is validated under PoA 2.0, it is final, reducing the likelihood of forks. This immediate finality enhances the security and reliability of the network, making it suitable for enterprise-grade applications. |
Incentive Mechanisms and Applicable Fees | VeChain’s incentive model utilizes a dual-token system to support staking, transaction processing, and economic stability, helping to ensure predictable costs for network users. Incentive Mechanisms: 1. Dual-Token Model: VET (VeChain Token): VET is used primarily for value transfer and staking on the network. VET holders can stake their tokens to generate VTHO, which serves as "gas" for transactions. VTHO (VeThor Token): VTHO is used to pay for transaction fees, providing a buffer against fluctuations in VET’s market price. This setup decouples transaction costs from VET’s volatility, allowing for stable and predictable transaction fees. 2. Staking Rewards: VET Staking to Generate VTHO: By staking VET, holders automatically generate VTHO tokens, which can be used to cover transaction costs. This staking mechanism incentivizes VET holders to participate in the network and secure its operations. Applicable Fees: • Transaction Fees in VTHO: Transaction fees on VeChain are paid in VTHO, keeping costs stable and predictable for users regardless of VET’s market price. This predictable fee model makes the network appealing for enterprises and high-volume applications. |
Beginning of the period | 2024-09-09 |
End of the period | 2025-09-09 |
Energy consumption | 505.89000 (kWh/a) |