HBAR vs VET: Are They worth Investing Money In?
The cryptocurrency market is an eclectic ecosystem with
thousands of different projects aiming to solve a wide range of problems. Each
has a different approach to blockchain technology and specializes to provide
unique use cases.
Hedera and VeChain are two decentralized solutions. They
provide the industry with advanced smart contracts for creating decentralized
applications. Consequently, they present a great opportunity for investors that
wish to diversify their portfolios. These projects provide different use cases,
which we explore in this article by outlining their fundamentals and providing
an HBAR vs VET comparison.
Moreover, we take a look at some price predictions from
reputable sources to give you an edge if you decide to invest in either of
them.
What Is HBAR?
Hedera is an open-source, smart contract platform. It aims
to provide high stability and decentralization to its users. Unlike most
platforms in the industry, Hedera doesn't rely on a typical blockchain
technology.
Instead, it uses a proprietary technology called a
Hashgraph, which uses a Directed Acyclic Graph. To achieve this, it uses a
novel proof of stake model, where the HBAR tokens are locked in the network.
Moreover, Hedera's nodes are mostly controlled by the foundation and governing
council members, with plans to move to an entirely decentralized solution in
the future.
The HBAR tokens are used for gas on the network, and allow
users to run smart contracts. In addition, the token is used for staking and
incentivizing node runners. Crypto enthusiasts often choose cold storage for
this token, so if you're interested, make sure you learn what is a cold wallet and choose a reliable one for your coins.
Finally, it's worth noting that Hedera smart contracts are written
in Solidity, which allows Ethereum developers to easily migrate to the network.
HBAR Price Forecast
Hedera came out in the markets in late 2019 and struggled at
first during the first year until the bull rally of 2020 began. In 2021, the
HBAR token reached an all-time high of $0.57 but has since dropped to the
current price of $0.05.
Priceprediction.net analysts believe this is a great entry
for aspiring HBAR investors, as they provide a price prediction of $0.17 for
2025.
Digitalcoinprice.com has a similar, bullish forecast for the
Hedera project. They provide a price target of $0.19 for 2025 and as high as
$0.54 for 2030.
What Is VET?
VeChain is an open-source smart contract platform that aims
to solve real-world industry issues through its blockchain technology. Focused
on the supply chain industry, VeChain's goal is to create a distributed
ecosystem using the Internet of Things (IoT). It wishes to alleviate the issues
encountered in global industries such as healthcare, food and beverage, textile,
etc., by providing transparency.
By offering data that is both automatized and verifiable,
VeChain boosts these industries' efficiencies and hopes to be a frontrunner in
the new industrial revolution.
The blockchain uses a double token mechanism with VET being
the store of value asset and VTHO serving for gas payments.
VET Price Prediction
VeChain is a veteran in the crypto space and has been around
since 2018. As such, it managed to gain traction over the years and experienced
a great run in the 2021 market, reaching $0.25. Currently, the price has fallen
to $0.019, providing a good upside opportunity for investors.
Priceprediction.net hopes to see the VET token reach $0.062
in 2025 and go as high as $0.42 in 2030. Digitalcoinprice.com, on the other
hand, predicts a target of $0.0699 for 2025 and $0.20 for 2030.
Start Trading HBAR or VET Now
Hedera and VeChain have yet to reach their full potential.
Developers have been building genuine and useful ecosystems on both platforms,
albeit with very different use cases. Where HBAR caters to DeFi, VET is the
blockchain of choice for the supply chain industry.
Consequently, both of these tokens should find a spot in
your portfolio, as their prices depend on different market dynamics. This
should allow you to benefit from market movements in development from different
narratives.
