At the end of December, Sis Crypto shared about the achievements of the Velas series and the price movement of its native token, VLX.
Interesting to know Velas background before making the dive!
Trivia Velas (VLX)
Her body
Based in Switzerland and launched in 2019.
It was the brainchild of CoinPayments CEO, and Canadian Blockchain Society expert Alex Alexandrov and was inspired by the sophistication of Web 3.0 and blockchain technology.
'Velas' stands for Virtual Expanding Learning Autonomous System.
It is a hard fork to the Solana series.
Recognized the world's first fastest EVM/eBPF Hybrid Chain blockchain mechanism.
Technology
Velas was developed with the support of the Solana codebase. So it's not surprising that there are also a handful of people calling it Solana V2.
Using the Artificial Intuition Delegated Proof of Stake (AIDPOS) consensus mechanism, it is also supported by a theoretical process known as 'Artificial Intuition'.
Capable of processing up to 75,000 transactions per moment (tps) in approximately 1.2 seconds.
The record found that Velas managed to reach 59,490 tps, 400 milliseconds (ms) of block revenue and transaction costs were only $0.00001.
The presence of the Schnorr Signature is aimed at authorizing transactions in the Velas series based on the legal ownership of the wallet
The implementation of Velas' multi-wallet technology allows users to diversify their cryptocurrency portfolio apart from their native token, VLX; such as Bitcoin (BTC), Ethereum (ETH), XRP, Monero (XMR), and EOS.
Velas was also developed as support for the Ethereum Virtual Machine (EVM).
EVM support allows decentralized applications (DApps) on Ethereum to run on the Velas suite.
This suite also features a passwordless authentication system, Velas Account; makes it easy for users to access multiple services safely without a password request.
There are also various ways to recover accounts, through several methods: seed phrases, Google accounts, Apple accounts, Facebook accounts, and WeChat accounts.
The native token – VLX
Used for executing transactions, staking, any payments including fees, and supporting Proof-of-Stake (PoS) consensus.
Also required for smart contract earnings.
A 25% discount is offered for users of the Velas wallet and CoinPayments platform.
There is no limit to the number of VLX but there are 2.24 billion VLX in the market.
Inflation rate: 8% annually.
Velas cooperation and projects
Integration between Velas with wallet and cryptocurrency payment intermediary, Coinpayments.
In collaboration with Mind AI – a blockchain that offers protection to the technology framework in the Velas suite.
Is the official protocol partner for the Swiss Blockchain Hackathon.
Collaborating with Scuderia Ferrari to promote Ferrari digital products in the Velas series.
Also cooperate with GPNFTS to bring a collection of motorcycle sports in the form of NFT.
It's easier to book accommodation on Travala.com using VLX.
Interesting about Velas (VLX) right? The native coin once made an all-time low price (ATL), $0.19 on December 21, 2021 before hitting an all-time high (ATH), $0.65 on January 3, 2022.
If you are interested in making investment in Velas, make sure you are familiar and clear with this series.
