Velas VLX

velas
Velas
$0.064-2.32% 24H
Velas Chart

Blockchain technology provides unique services globally. As more developers try to use their infrastructure to create projects, the new generation of blockchains is on the way. Velas is one of the most significant cryptocurrency projects on the market. 

 It is a self-learning and self-optimizing blockchain that will solve the problem of scalability forever. Bitcoin and Ethereum have been the most famous names in the blockchain industry forever. However, they can handle 7 and 15 transactions per second. With projects like Velas, we are talking about tens of thousands of transactions per second. We will talk about everything you need to know about Velas before investing in this cryptocurrency. 

What is Velas (VLX)?

Velas is the fastest EVM/eBPF Hybrid Chain mechanism blockchain in the decentralization industry. It is an open-source platform that provides the necessary infrastructure for building decentralized projects and applications. The most exciting thing about this platform is how it manages to solve the problem of scalability the Bitcoin and the Etheum have suffered from for so long. Instead of processing only 7 or 15 transactions per second, Velas can process up to 

750000 transactions per second, which is an impressive figure. 

On the other hand, the fee is low. With instant finality and solidity support, everyone wants to join this network. 

It is sufficient to say that Velas is the next generation of self-learning blockchain. This type of blockchain uses an AI-powered Delegated PoW consensus mechanism or AIDS.

 The mechanism mentioned above provides high security and interoperability and improves scalability on a large scale. 

Who founded Velas 

 Velas was created by Velas Network AG, a startup in Switzerland. The founder of this ecosystem is Alex Alexandrov. He is also the co-founder of the best payment gateway for cryptocurrencies, CoinPayments.  

How does Velas work?

 You might not understand the Velas project at first because it is a bit complex. So we are going to explain it one step at a time.

 The most important thing to understand about this project is that it uses a one-of-a-kind consensus mechanism known as Artificial Intuition Delegated Proof of Work. This is what makes the core of the Velas platform. Artificial Intuition tries to understand human consciousness more and more. If the AI can recognize network inefficiencies, it can make the necessary adjustment itself.

 It seems that the whole protocol is able to process up to 30000 transactions per second. So the AI algorithm will decide about the speed of releasing new blocks according to the network’s demand.

·      Unique permission

 Most blockchains use a simple signature, but Velas use a different protocol for permission and signatures. Because the old way is perfect as long as individuals access the private key, what happens if people use the same wallet? The Schorr Signatures are what is needed in this sense. So before executing a transaction, the AI algorithm ensures that every owner of the wallet signs the transaction.

·      More sucure blockchain

Blockchain is the most secure data resource that ever existed. However, since Velas claims that it can process up to 30000 transactions per second, it seems that the next generation of blockchain is already here.

The Valas network is safeguarded agist hacks and attacks. For every block to be announced validated, there should be 80 percent consensus in the network.

·       New wallet technology

The Velas wallet is capable of supporting other cryptocurrencies as well. You can hold your bitcoins, Ethereums, Moneros, and EOSs in that wallet.

Vleas Token

 The native token of the Velas network is called VLX. It has many use cases, which we are going through in the following.

 First, it is the token used to fuel the network; it supports smart contracts. It is also used to pay the transaction fees.

When you are using VLX within the network, you will get a 25 percent discount on fees. The same discount is available when using the Coinpayments platform.

 You can also stake VLX to earn profit as well. Users can stake their VLX to support the network and earn a share of the block rewards and fees. On the other hand, users can also contribute their GPU power to the network and earn additional rewards.

The future of Velas?

The Velas project is still in its infancy; there are many things on the way for this platform. The developers are trying to increase the security and provide more features in the network. It has a hardware wallet and a fully open-source framework with processing up to 30000 transactions per second and the promise of increasing that number up o 75000 transactions per second; the future is waiting for AI-powered blockchains like Velas

What is EVM compatibility?

 EVM or Ethereum Virtual Machine is a bridge between the decentralized world of applications and the DeFi platform that connects those dApps to the fast-running world of Velas with a large number of transactions per second. So, developers can use this bridge to benefit from low transaction fees, higher speed, and other capabilities of the Velas blockchain. It is a new definition for interoperability.

velas Velas
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FAQs

Best way to buy Velas in Australia?

To find the best crypto exchange in Australia, you should go for the big names in the region. Bitunivex is one of Australia’s most excellent exchanges, a trusted and reliable exchange capable of handling high-volume transactions. 

 Create an online account in Bitunivex and start trading your crypto of choice. We have provided you with necessary tools such as stop-limit orders.

Is Velas real and safe?

Velas is one of the most scalable blockchain-based on Solana that will change the blockchain industry. For a crypto exchange to be successful, more investors should be in the market. Velas has attracted much attention since its launch, and the number of investors participating in this platform is increasing. The more investors developers are attracted to the platform, the safer and more reliable it will be. Remember that Velas is one of the first self-learning and optimizing blockchain platforms in the blockchain industry.

Can I cash out Velas anytime?

When dealing with Bitunivex, you can always cash out your investment quickly. All you need to do is send us a cash-out request, and we will take care of your request in less than three minutes. We know how important it is to convert our cryptos to another asset at the right time, and we do our best to process your request quickly.