Velas blockchain uses AI-enhanced DPOS (AIDPOS) consensus for high volume transactions processing without sacrificing decentralization and security.
Virtual Expanding Learning Autonomous System (VLX)
AI-Operated Delegated Proof-of-Stake Blockchain.
Algorithm of Network Training
Each node forms its own dataset (training sample) from the blockchain data. On this data, a layered training of the genetic algorithm occurs. Every next layer is learning the previous one: training on the principle of an autoencoder. After the pre-training, the backpropagation method is applied to tighten the weights to a minimum. The network must be trained before the next block cycle.
With the advent of Proof-of-Stake (PoS) digital currencies, a lot of connected services have started to emerge that help the average investor and crypto enthusiast make most out of their cryptocurrency portfolio without the stresses of various technical difficulties.
Staking pools are one such way through which investors can earn passive income. In this case, several coin holders merge their resources to increase the chances of validating blocks and receiving rewards. They bring together their staking power and share the final block rewards proportionally to each member’s contributions.
Selecting a staking pool to stake and earn rewards jointly is a dependable way to make a regular profit. Staking pools can help you generate income without doing much work individually, as all responsibilities can either be distributed or delegated.
Node Stakers
This feature allow users to stake their VLX tokens on the right of any particular node to participate in the formation of blocks in the next production era. Nodes that are successful in becoming block producers will distribute 80 percent of their block rewards to the users who correctly predicted their election.
Velas Desktop Wallet
The Velas desktop wallet is a highly secure wallet program that runs on Windows, macOS, and Linux operating system. The desktop version of the wallet also uses the same mnemonic seed phrase feature and RSA-256-CBC encryption algorithm as the web version.
Velas WEB Wallet
A standout feature of the WEB version is that users can specify cryptocurrency transfers in any currency of their choosing. The wallet is continually updated with the current VLX exchange rates against all fiat currencies.
WEB WALLET
The Velas wallet will be mnemonic-based (all individual coins’ sub-wallets will be based on one mnemonic phrase), lightweight and optimized for third-party integrations. It will utilize smart TX fees that will be calculated based on average price per byte.
The wallet doesn’t require backend and works directly with Velas public nodes. In the future it will also include staking, smart contract builder, decentralized exchange (DEX), and encrypted file storage tool. The wallet will essentially serve as a single window for these and all upcoming services within the Velas ecosystem.
Block Explorer
Web-based, universal blockchain explorer, featuring a REST API for devs.
https://explorer.velas.com/
Under a dPoS consensus model, tokens can be used in two ways, either for electing nodes or for staking as part of the block production process. The launch of the Velas masternode staking program enables network participants to use VLX tokens for the second purpose.
The Velas model is that the platform’s artificial intuition algorithm will ultimately be the determinant of block reward allocation. However, the company is still developing this feature in preparation for the beta launch. Therefore, it has set the interim masternode block rewards at 8%, which is higher than EOS is currently paying out.
To operate a full masternode, participants will need a minimum stake of one million VLX tokens, which is worth around $30,000 at the current price of VLX. They’ll also need the necessary GPU power, and a Velas wallet. The wallets are available in web and desktop versions, with the latter downloadable for the Windows, MacOS, and Linux operating systems.
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