Ever since the founding & launching of blockchain in 2009, the crypto space has been continuously expanding due to the avalanche of new projects with special peculiarities in terms of problem solving. The developers of the Velas blockchain project, a type of delegated proof of stake (dpos) blockchain which has the ability decentralized application, tokenize them and then issue smart contracts with almost any digital currency (cryptocurrencies). Velas blockchain project is enhanced by an artificial intuition (AI).
VELAS BACKGROUND, ARTIFICIAL INTUITION (AI) & AIDPOS.
Velas a Switzerland based project was originally founded in 2019, it's an acronym for virtual expanding learning autonomous system. Velas offers a maximum & unparalleled level of decentralization, it offers lasting solutions to the erstwhile menance of scalability with modalities that make the network accommodative to block producers and delegators.Velas blockchain is a brain child of Alex Alexandrov & his team of seasoned specialist, Alex Alexandrov also doubles as the CEO of coin payments ( a first & world's largest platform for processing altcoin payments.
Velas has it tentacles of operation wrapped around artificial intuition, that will make it function similarly to human consciousness. The consensus model called AIDPOS (AI-Operated delegated proof of stake). Every node within the blockchain forms its own data set from the available blockchain data. Velas takes a holistic precaution against 51% attacks & double-spend attacks by implementing a cycle block in every 24 hours. This makes it practically impossible for hackers to hack into the system since they will have to be in possession of the entire network before hacking it.
THE PLATFORM GOVERNANCE MODEL: STAKING & REWARDS.
Verification of transactions are executed via staking ( holding coins on network) but there is a provision for compensating nuances validators for staking & training the artificial intuition. The higher the stake the more VLX tokens assigned, while the artificial intuition (AI) algorithm ensures that there is an effective/continuous block producing & transaction, the PoS on the hand aims to give commensurate incentive & long-term investment. The AI through the evaluation of input & behavior managers reputation for stakers on the blockchain.
ABOUT VELAS TOKEN & VELAS WALLET.
VELAS TOKEN
Some of the Velas token (VLX) uses are:
Token supply:2,000,000,000
12.5% of token supply allotted for velas developer funding.
25% of token supply will be allotted for private investors.
Velas token (VLX) is a utility token for carrying out transactions or power smart contracts.
Velas token (VLX) is can also be used for coin payments (primary trading) with 25% trading fee discount.
VELAS WALLET
The velas wallet has an underlying blockchain infrastructure that ensures hassle-free transaction in a secured Multi-wallet system, tokens like Bitcoin, ethereum & other major cryptocurrencies like monero, XRP & EOS can be stored in either the public or private containers with their private keys.
CONCLUSION
In terms of scalability velas Offers great prowess that gives it the ability to run at 30,000 t/ps, which makes it far better than others cryptocurrencies like Bitcoin & ethereum with 7 & 15 t/ps. Velas relies solely on its artificial intuition (AI) feature to clear the ledger from incessant & unnecessary workload, to increase or decrease it's network. The schnorr signatures fosters high-speed based transactions with special multi-signature that provides veritable cryptographic proofs for a wallet owned by different parties.
USEFUL LINKS
Website: https://velas.com/
Twitter: https://www.twitter.com/VelasBlock chain/
Telegram: https://t.me/velascommunity
Bitcointalk: https://bitcointalk.org/index.php?topic=5244455.0
Facebook: https://www.facebook.com/velasblock chain/
Instagram: https://www.instagram.com/velas.block chain/
Medium: https://medium.com/@VelasBlock chain
LinkedIn: https://www.linkedin.com/company/velas-ag
Github: https://github.com/velas
Discord: https://discord.gg/CTcKpPc
Author's Bitcointalk Username: Abulu730
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2539309