VentionPrice

(VENTION)

Vention is a crypto and Web3 project centered around a token known as Vention (VENTION or VNT). It operates within an ecosystem that includes the Vention Smart Chain (VSC) and an NFT-focused platform. The Vention Smart Chain (VSC) is highlighted as the first Filipino-owned Layer 1 blockchain that is compatible with the Ethereum Virtual Machine (EVM). Its design emphasizes security, scalability, and decentralization, aiming to provide an efficient and cost-effective blockchain technology. VSC utilizes a Delegated Proof of Stake (DPoS) consensus mechanism, which allows for high transaction throughput and low transaction costs. The Vention team developed VSC with the goal of enabling continuous deployment of various decentralized applications (DApps) on its network. The Vention Token (VNT), also referred to as Vention (VCR20 VNT), serves as the native cryptocurrency within the Vention Smart Chain. It is used to cover transaction fees, incentivize stakers and node validators, and support server costs. Token holders can delegate their VNT to validator candidates, with the top 21 candidates becoming active node validators for subsequent epochs. VNT also supports staking. Beyond its native blockchain, Vention is also described as an ERC20 token operating on the Binance Smart Chain (BSC), fueling a broader Vention Ecosystem. This aspect of the project primarily focuses on Non-Fungible Tokens (NFTs). The Vention NFT platform aims to elevate valuable and collectible digital items, enhance their recognition, and protect the work of undervalued talents and skills. The Vention platform provides a digital marketplace where artists, celebrities, and collectors can engage in the creation, trading, and collection of digital merchandise, with an emphasis on artistic items and memorabilia. It seeks to address challenges faced by new artists in gaining visibility and selling their digital works by offering an artist-focused marketplace that aims for international reach. Within this platform, VENTION tokens facilitate transactions such as the creation, trading, buying, and selling of NFTs. The Vention ecosystem is also designed to support smart contracts, which are self-executing agreements with terms coded directly into them, facilitating automated transactions without intermediaries. In a separate but related context, the company Vention, which provides blockchain software development services, also created an internal blockchain-based employee recognition platform called "Vention Rewards." This internal platform utilizes its own proprietary cryptocurrency, a merch store, and an NFT exchange for its employees, running on a private EVM-based blockchain. Learn more

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