THE VIABILITY OF THE AIDPOS OF THE VELAS BLOCKCHAIN

Consensus algorithms/mechanisms are part of the reasons why blockchain projects and platforms succeed. They help to forestall many glitches that could have otherwise reduced the pace of transactions if the algorithms weren’t there.
The VELAS blockchain is the latest blockchain platform. It has a definite goal and that is to ensure that the traditional consensus mechanisms, which have been embroiled in many challenges, are replaced.
The likes of the Delegated Proof of Stake (DPoS) and the Proof of Work (PoW) consensus algorithms are the ones that have been having those challenges.

AIDPOS – THE LATEST CONSENSUS ALGORITHM
The VELAS blockchain came up with a different consensus algorithm called the “AI-Operated Delegated Proof of Stake” consensus algorithm. It is meant to function as the DPoS would only that it makes use of Artificial Intelligence (AI).

WHAT MAKES AIDPOS DIFFERENT?
AIDPOS has many features that differentiate it from the regular blockchain consensus algorithms. The most notable is the leverage of Artificial Intelligence (AI), which we know that AI is more advanced.
Thus, the application of AI in the traditional Delegated Proof of Stake (DPoS) consensus algorithms will help the VELAS blockchain in the following ways:

OVERALL IMPLICATION OF THE AIDPOS CONSENSUS ALGORITHM
The AI-Operated Delegated Proof of Stake (AIDPOS) consensus algorithm has specific features, and the majority of these are based on how to resolve those issues that have been tenable in the DPoS and the PoW consensus algorithms.
Ideally, the application of the AIDPOS consensus algorithm will help in bolstering the scalability of blockchain transactions. It will also help in the enhancement of decentralization and security of transactions.

WHAT DOES THIS MEAN FOR VELAS BLOCKCHAIN?

The VELAS blockchain stands to benefit a lot when the AIDPOS is in motion. Below are some of the ways the platforms stands to witness massive traction when it is in use.

Election
The VELAS blockchain believes in transparency and one of the ways to do that is by conducting elections.
The elections here are conducted by the Artificial Intuition and those to be elected are the block producers.

Scalability
The speed of transactions is also worth considering. The VELAS blockchain has already made efforts to ensure that scalability is optimum.
Ideally, the platform can process 30,000 transactions every second.

Fully Decentralized
There is no gainsaying that the VELAS blockchain will be fully decentralized. The application of Artificial Intelligence (AI) in the Delegated Proof of Stake (DPoS) is already a pointer to that end.

Required Block Creation
Most blockchain networks create blocks, which may not be needed. This means that more resources are wasted than they ought to be saved.
However, the VELAS blockchain has better opportunities. Here, blocks can only be created or produced when they are needed. Already, VELAS has directed that the block producers must abide by this.
When it comes to the timely creation of blocks, this can be done in real-time. Blocks can be created every two seconds or every five minutes and this is when they are needed.

WRAPPING UP
The VELAS blockchain presents a new way of leveraging blockchain technology. Do you think the anticipated functionalities of this platform are worth the effort?

USEFUL LINKS
Website: https://velas.com/
Blue Paper: https://velas.com/VELAS-Blue_Paper.pdf
Technical Paper: https://velas.com/VELAS-Technical_Paper.pdf
Telegram: https://t.me/velascommunity
Twitter: https://www.twitter.com/VelasBlockchain/
Facebook: https://www.facebook.com/velasblockchain/

AUTHOR’S DETAILS
Bitcointalk Username: Intertek
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2760026;sa=summary