VeChain (VET) API and Price Oracle

VeChain API Logo

VeChain

VET
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x0000...0000
Network
Blockchain network where the asset is deployed
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VeChain
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is VeChain (VET)?

VeChain (VET) is a blockchain platform designed for supply chain management and business processes. It aims to improve transparency and traceability by using distributed ledger technology. Founded in 2015 by Sunny Lu, its name VeChain comes from "Vector Chain," representing the connection between the physical and digital world. VeChain offers a blockchain-as-a-service solution and has partnerships with various companies across different industries, including retail, luxury goods, and agriculture. Its native token, VET, is used for transactions and governance within the VeChain ecosystem.

How does VeChain work?

VeChain is a blockchain-based platform that aims to improve supply chain management and product verification processes. It utilizes a combination of blockchain technology, smart contracts, and IoT integration to create a transparent and traceable ecosystem.

VeChain operates on its own blockchain, which is built upon the Ethereum platform. The blockchain ensures data immutability and security, making it suitable for recording and verifying transactions. The platform focuses on providing enterprise-level solutions, catering to industries such as logistics, healthcare, and agriculture.

At the core of VeChain's functioning are smart contracts. These self-executing contracts are programmed to execute specific actions when pre-defined conditions are met. Smart contracts on the VeChain blockchain enable automated and trustless interactions between different stakeholders in a supply chain, facilitating seamless and transparent processes.

VeChain also integrates IoT devices, such as RFID tags, sensors, and QR codes, to collect and transmit real-time data about a product's journey through the supply chain. This data is then recorded on the blockchain, providing an immutable and auditable trail for verification and tracking purposes.

By leveraging blockchain technology and IoT integration, VeChain enables businesses and consumers to verify the authenticity and quality of products. It also helps in detecting and mitigating issues such as counterfeiting, fraud, and supply chain inefficiencies. Ultimately, VeChain aims to improve trust, transparency, and efficiency across various industries by leveraging the power of blockchain technology and IoT devices.

What are the benefits of VeChain?

VeChain offers several benefits compared to its direct competitors in the blockchain space. One of the main advantages of VeChain is its focus on supply chain management. VeChain enables businesses to track and verify the authenticity and quality of products at every stage of the supply chain using blockchain technology. This transparency reduces the risk of counterfeiting and enables consumers to make more informed purchasing decisions.

Another key benefit of VeChain is its robust and scalable network. VeChain Thor, the platform's blockchain, is designed to handle a high volume of transactions. This scalability makes VeChain a suitable choice for enterprise-level applications, where efficiency and speed are crucial.

In terms of governance, VeChain adopts a collaborative approach through its VeChain Foundation. This foundation includes various stakeholders such as enterprises, government bodies, and technology providers. This model allows for effective decision-making and consensus-building, ensuring the platform's long-term viability.

Furthermore, VeChain stands out for its focus on compliance and regulatory requirements. The platform is designed to meet industry-specific regulatory standards, making it an attractive option for businesses operating in highly regulated sectors.

When compared to its direct competitors, such as IBM's Food Trust and Waltonchain, VeChain's distinct features include its supply chain focus, scalability, collaborative governance model, and compliance with industry regulations. These factors make VeChain a compelling choice for businesses looking to leverage blockchain technology for supply chain management and other enterprise applications.

What is VeChain used for?

VeChain is a blockchain-based platform that aims to enhance supply chain management and improve business processes. It utilizes distributed ledger technology to provide transparency and traceability in various industries.

One common use case for VeChain is in the luxury goods industry. With the platform, manufacturers can generate unique digital identities for each product, embedding them with NFC chips or QR codes. This enables customers to verify the authenticity and origin of luxury items, helping to combat counterfeiting. The immutable nature of the blockchain ensures that this information cannot be tampered with or altered.

Another specific case where VeChain has shown its value is in the food and agriculture sector. By utilizing sensors and IoT devices, VeChain can monitor and record vital information about food products throughout the supply chain. This includes details about the temperature, humidity, and quality of the products. By providing this information on the blockchain, consumers can have confidence in the safety and quality of the food they consume.

In summary, VeChain is used to enhance supply chain management and bring transparency to various industries. It helps combat counterfeiting in the luxury goods industry and ensures the safety and quality of food products in the food and agriculture sector. Its use of blockchain technology ensures the integrity of data, providing trust and transparency for all parties involved.

What is DIA's VeChain API?

DIA's VeChain API is part of DIA's comprehensive API endpoints that provide real-time price feeds for various crypto assets. These price feeds are constructed using raw data from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, ensuring a reliable and accurate data source.

DIA offers both free API endpoints for developers to test and fully customizable custom feeds. While the free API endpoints are available for informational purposes and allow developers to experiment, the custom feeds offer a more tailored and specific configuration.

Custom API data feeds can be customized based on sources, methodologies, and update mechanisms, among other parameters. To request a custom feed, developers can get in touch with DIA via Discord or Telegram.

The importance of custom feeds lies in their ability to address specific user requirements. These feeds can be utilized in various ways within the blockchain ecosystem, including applications in DeFi, such as derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, and money markets. They also find usage in NFTfi applications, such as peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, and NFT fractionalization.

DIA's API provides a valuable resource for developers and users in need of reliable price data. By offering both free endpoints for testing and customizable feeds for specific use cases, DIA caters to a wide range of needs within the blockchain community.

What is DIA's VeChain price oracle?

DIA's VeChain price oracle is a smart contract that provides real-time price feeds of cryptocurrencies. As one of the leading data providers in the web3 space, DIA offers a range of price oracles for various layer 1 and layer 2 networks. These oracles are built by sourcing raw data from over 85 on-chain and off-chain exchanges, ensuring accurate and reliable price information.

While DIA provides demo oracles for developers to test in their documentation, these are not intended for production use. However, for users who require a tailored price feed, DIA offers custom configuration options. Users can request a dedicated price feed oracle that can be customized in terms of sources, methodologies, update mechanisms, and more. To request a custom feed, users can reach out to DIA via Discord or Telegram.

DIA's custom oracles are particularly valuable for users looking to integrate price data into their production applications. The versatility of these oracles allows for a wide range of use cases in the blockchain ecosystem. For example, in DeFi, the price information from DIA's oracles can be used in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Likewise, in NFTfi, DIA's oracles enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative applications.

Overall, DIA's custom oracles provide users with reliable and customizable price feeds, enabling the seamless integration of accurate data into their blockchain applications. Contacting DIA through Discord or Telegram allows users to explore the full potential of DIA's oracles.

A blockchain oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. These oracles play a crucial role in bridging the gap between on-chain and off-chain data sources, ensuring the accuracy and reliability of information used in blockchain-based applications. DIA's price oracles serve as trusted intermediaries, delivering real-time price feeds to enable various use cases across the blockchain ecosystem.

Why use DIA's VET API & price oracle?

DIA's VET API and VET Price Oracle offer several advantages for users in the blockchain ecosystem. One of the key benefits is the high level of customization available. Users can tailor each oracle and API endpoint to meet the specific requirements of their decentralized applications. This includes configuring data sources, applying data cleaning filters, determining pricing methodologies, and setting update mechanisms and frequency. Such customization ensures robustness and resilience to unique market conditions associated with chosen data sources, providing a tailored solution for every user.

Additionally, using DIA's API and Oracle feeds provides a high level of transparency. Users can enjoy full and granular transparency throughout the entire data journey. DIA also offers tracking and monitoring tools, allowing users to closely monitor the performance of their oracle and API feeds.

By leveraging DIA's technology, users can access accurate and reliable price data for cryptocurrencies and NFTs. The combination of customization, transparency, and tracking tools offered by DIA's VET API and VET Price Oracle ensures that users have access to robust, resilient, and transparent data solutions. These benefits make DIA's offerings an attractive option for users seeking reliable and customizable price data in the blockchain ecosystem.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.