$VDA is the native utility token for the Verida Network. The Verida Network is the first decentralized database network for owning, storing and controlling private data. It has multi-chain interoperability and is built on decentralized identity. The network is specifically designed to enable fast commits, advanced security and built-in unlimited scalability.

$VDA as a storage credit or currency on the Verida Network, creates a data economy enabling secure interactions between accounts to facilitate secure data storage, trusted sharing, fast querying and trusted messaging.

Both developers and storage providers to stake its native utility token, $VDA, to participate in the network. Users also pay for their own storage needs in $VDA. Applications may also pay for storage on behalf of their users.