Vision statement: We believe in a future where many blockchains will grow to serve different needs. Easy transfer of data and assets between blockchains will become increasingly important. We designed Vite to bridge every blockchain in a decentralized way.
VITE has developed a smart-contract platform based on the Directed Acyclic Graph (DAG) with a Snapshot Chain structure to enable zero-fee transactions and improve transaction speed, dependability, and security. To achieve network agreement, the Snapshot Chain of VITE uses Hierarchical Delegated Proof of Stake (HDPoS), with supernodes receiving just staking rewards and no transaction costs. Vite virtual machine is compatible with EVM and uses Solidity, an asynchronous smart contract language.
On the Vite network, the VITE token is used for simple token transactions and smart-contract executions, with users staking VITE for transaction quota rather than consuming gas. Voting for Snapshot Block Producers can also be done with VITE (aka supernodes). Furthermore, a VITE staker with unused transaction quotas can lease them to dApps in exchange for tokens. Users can, for example, stake VITE in exchange for VX, ViteX’s native decentralized exchange token.
Bridging Every Blockchain in a Multi-Chain Future
Vite’s Global Node Network
Vite’s nodes have extended to 184 countries and regions throughout the world since the introduction of the mainnet on September 25, 2019, totaling over 1,200 nodes. Full Node and Snapshot Block Producer are the two types of Vite nodes (SBP). Every year, 30 million VITE are produced and awarded as mining prizes to SBPs.
The fuel that fuels transactions on Vite’s network are VITE. Unlike traditional fuel (gas) that is consumed on other public chains like Ethereum, VITE is used to stake for computational and bandwidth resources, and it may be kept at no cost once transactions are completed – which means it is completely free!
- ViteX is a decentralized exchange that presently handles 20+ digital assets and has an on-chain order book and matching engine.
- Vite App is a mobile app that combines trading (ViteX), asset management (wallet), and dapps (such as Vite-based games) into one app.
- VitePay is a fee-free payment option that is now accessible in Singapore’s Ce La Vi Sky Bar and cab services through the Midwest Global network. Users can pay for retailers using Vite wallet, and merchants get paid with no costs and near-instant settlement. VitePay is also compatible with the OpenCart e-commerce platform, and VitePay can be used at the official Vite store.
- VitePlus is a government and enterprise blockchain solution built on the Vite platform. Vite has created a trial program for the Syracuse government called SyraCoin, which allows municipal housing fund donors to earn blockchain-based vouchers that can be redeemed for goods and services inside the city limits.
Distribution of Supplies
The total supply of Private Sale tokens is 40.43 percent. It was held in May 2018 for 404.33 million VITE at a rate of 7,000 VITE = 1 ETH, raising a total of 57,762 ETH ($40.43 million) at a price of $0.10 per token, accounting for 40.43 percent of the total token supply.
- Marketing tokens make up 10% of the overall supply
- Ecosystem Development tokens account for 23.57 percent of all available tokens
- Team tokens account for 20.00% of the total supply
- Airdrop tokens make up 5.00% of the total supply
- Advisor tokens make about 1% of the entire supply
User Case Studies
- Receive Quota: Vite has designed a zero-cost, quota-based transaction paradigm to replace “Gas,” which has been widely used in Ethereum and other blockchains. In the Vite network, initiating transactions will cost Quota, and the Quota consumed will be refilled over time.
- Stake as Mining Staking VITE on the ViteX exchange allows users to mine the platform token VX. VITE coins that have been stashed can be retrieved in three days, but they must be locked for seven days before they are credited to each user’s account. Please keep in mind that there are no awards available during the retrieval period.
- Vote for SBP(Snapshot Block Producer): Users can vote for SBP and earn prizes for doing so. Voting, unlike staking, does not bind the assets. View the most recent SBP list on the Vite forum that distributes voting incentives and vote for the best!
- Become a Snapshot Block Producer (SBP): Stake 1 million VITE to become an SBP and earn SBP Rewards.
What are the advantages of Vite compared to other public chains?
1. Vite is the first public chain to implement smart contracts on the basis of a Directed Acyclic Graph (DAG) ledger.
2. Vite utilizes asynchronous sending and receiving of transactions, resulting in fast transaction speeds with confirmations in seconds to create low-cost smart contracts.
3. Vite is a fee-less transaction model. It’s free!
4. Vite utilizes a novel snapshot chain that strengthens the security of all transactions by eliminating vulnerabilities associated with DAG.
5. Vite features a built-in, truly decentralized exchange.
VITE is now available for purchase on a number of top-tier exchanges such as Binance and is already listed on Wazirx, the first Crypto Exchange in India.
VITE listing on WazirX + Grand VITE Giveaway
VITE is already listed on WazirX on Wednesday, 16th September and you will be able to buy, sell, trade VITE in INR and USDT market. WazirX is also running a giveaway for you via a host of activities.
- Friday, 17th September: YouTube Live with Richard Yan on WazirX YouTube.
- Monday, 20th September: AMA with Richard Yan. Learn everything about VITE and win total prizes of $250.
- Tuesday, 21st September: Trivia on WazirX Instagram page with prizes of $50. Play interesting trivia about VITE and win.
- Tuesday, 21st September: Quiz in our Telegram group with prizes of $500. Show off your VITE knowledge in a fun quiz session and win.
- Thursday, 23rd September: VITE Airdrop worth $9,850 for top WRX holders for always supporting us.
- Friday, 24th September — Sunday, 26th September: 48-hour long Highest Trader Kaun Marathon with prizes of ₹15,48,300 ($20,000) worth VITE for top 300 traders.
Where to buy/trade the VITE coin?
WazirX is one of India’s most trusted Bitcoin, Ethereum, and other cryptocurrency exchanges where people can invest, buy and sell various cryptocurrencies. Users can trade Bitcoins also. Trading platforms are growing in popularity among the young generations and the business people who dream of growing big with money.
WazirX is the best place to buy this new token, and the ongoing giveaway makes it even more obvious. To stand a chance to win the giveaway, check: https://wazirx.com/blog/grand-vite-giveaway/
Where to mine the VITE coin?
You can ‘mine’ VITE on the Vite network by running a Snapshot Block Producer (aka supernode to participate in the HDPOS consensus process) and receiving block rewards in the form of the annual inflation of 30 million VITE coins. You can also run a full node and get VITE prizes from the Vite foundation if you do so.
Start your journey into crypto today using https://wazirx.com/invite/nqchwjcx