What is Vite?
Vite is a generalised decentralized application platform that has the capacity to provide full support for a set of smart contracts, each of which is a state machine with independent state and different operational logic, which can communicate by message delivery. In general, the system is a transactional state machine.
Vite is a platform that possess the prerequisite or necessity highly required for industrial applications in relation to high transaction rate, scalability, optimum security and a period between the initiation of transaction and the occurence. The Vite platform has a built-in native token known as Vite Token, which can be used to make payment for asset exchange transaction. The Vite Coin is already listed on CoinMarketCap.
Mode of Operation
The structure of ledger used by Vite is DAG, and accounts are fully responsible for the grouping of transactions in that ledger. Which in turn helps to input the throughput of the system alongside other notable structures. The Vite team noticed that the DAG ledger doesn’t provide optimum security, and they make available the Snapshot Chain Structure which can help to make up for that deficiency.
The Vite platform is known for its great features of scalability and high performance which is provided by the HDPoS consensus algorithm, which is responsible for making the writing and confirmation of transactions to occur at a different time.
An improvement is brought upon the description through the compatibilty function of Vite VM with EVM, creating an extension of the smart contract language from solidity. An improvement in the rate of transaction and scalability in the system is implemented as a result of an improvement brought upon the Vite design and that notable improvement is the introduction and acceptance of a asynchronous Event Driven Artichecture, which communicates information through messages between smart contracts.
A complete value system is formed by Vite based on the Loopring protocol function, which trigger Vite to provide support for the issuance of digital assets by users with an inclusion of its own built-in native tokens, cross chain value transfer and exchange of tokens. Light users that do not trade frequently on Vite are spared from paying high transaction fees or gas charges due to the resource allocation that Vite acquire by quotas.
Summary features of Vite
Generally, Vite is tri-dimensional in nature because it has a high-performance decentralized platform, a multi-token wallet which is decentralized for the managament of your digital assets, and a decentralized exchange to carry out trading of digital assets.
Earn some Vite Coin through Airdrop
Vite is currently holding an airdrop where you can Claim free 10 Vite Coin on a daily basis. I am including this so that my fellow trybalist will earn some free Vite Coin which is worth $0.04 per Vite as at the time of writing this post.
- Download Vite wallet from here https://growth.vite.net/share?inviteCode=1heENDln&lang=en
- Create an Account
- Switch to a 12 or 24 keyword phrase and make sure you back it up by writing it down.
- Go to the last tab at the bottom and click “Invite friends and win Vite”
- Insert my invite code “1heENDln” and we will both get 10 vite each instantly.
- Immediately you are done with that, wait for about an hour. You can minimize or exit the Vite App.
- After the time is elapsed, move to the 2nd tab at the bottom and click on “pick up now” to claim ur free Vite.
- You can go back to claim free 10 Vites Coin after every 24 hours.
I see Vite as a very promising project that will help promote the blockchain and cryptocurrecy industry at large. Let’s watch out for them.
Add your Scripsio!