Check out Vite

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.

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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
High Throughput
Scalability
Optimum Security
High Performance
Low Delay
Value Circulation
Usability
Economy
Contract Scheduling
Name Service
Contract Update
Block Pruning


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.

  1. Download Vite wallet from here https://growth.vite.net/share?inviteCode=1heENDln&lang=en
  2. Create an Account
  3. Switch to a 12 or 24 keyword phrase and make sure you back it up by writing it down.
  4. Go to the last tab at the bottom and click “Invite friends and win Vite”
  5. Insert my invite code “1heENDln” and we will both get 10 vite each instantly.
  6. Immediately you are done with that, wait for about an hour. You can minimize or exit the Vite App.
  7. After the time is elapsed, move to the 2nd tab at the bottom and click on “pick up now” to claim ur free Vite.
  8. You can go back to claim free 10 Vites Coin after every 24 hours.

Final Thoughts
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.

🗞 Daily Crypto News, August, 23rd💰

  • Binance: Funds ‘SAFU’ After Amazon Web Services Error Stops Withdrawals ;
  • Ethereum Poised to Be First Public Blockchain in Hyperledger Consortium ;
  • Circle Is Raising a $100 Million Fund for Its Crowdfunding Arm ;
  • Coinbase Now Allows You to Access Dapps on Desktop Browsers ;
  • Using Fear & Greed Index to trade? Why not, it seems to work ! ;
  • 📑 Daily Crypto Calendar, August, 23rd💰
  • STEEM Trading Update

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Binance: Funds ‘SAFU’ After Amazon Web Services Error Stops Withdrawals

Cryptocurrency exchange Binance has confirmed user funds are not at risk after a reported technical problem began affecting withdrawals. 


According to CEO Changpeng Zhao, also known as CZ, the situation was being resolved on Aug. 23, while funds security was not compromised. 


“Funds are #safu,” he wrote on Twitter, employing a now well-known catchphrase he had previously inadvertently created while confirming there was no danger to cryptocurrency holdings.

🗞 Ethereum Poised to Be First Public Blockchain in Hyperledger Consortium

Ethereum could become the first public blockchain on Hyperledger – if the open-source consortium’s technical steering committee approves a proposal to adopt the ConsenSys-backed Pantheon project.


Pantheon is a suite of ethereum-based services built by PegaSys, a 50-strong engineering team at ConsenSys. The Pantheon ethereum client, built on Java, is used to develop enterprise applications with features like privacy and permissioning.


The proposal was sent out in a Hyperledger mailing list email on Aug. 8, and if it is accepted, Pantheon will be renamed Hyperledger Besu (a Japanese term for base or foundation).


The approval would bring Pantheon’s protocol under Hyperledger, joining blockchain projects like Hyperledger Fabric by IBM and Hyperledger Sawtooth by Intel.

🗞 Coinbase Now Allows You to Access Dapps on Desktop Browsers

Coinbase Wallet’s decentralized web feature will allow users to link to supported Dapps from any browser using a new system called Walletlink.


The San Francisco-based cryptocurrency exchange announced today in a blog post, the open-sourced Walletlink acts as a “secure bridge” between the Coinbase ecosystem and the traditional web.


The feature will enable Coinbase Wallet users to access and administer their funds – separate from their crypto holdings on Coinbase.com – from a desktop Dapp interface for the first time, said Coinbase Wallet product lead Sid Coelho-Prabhu.

🗞 Circle Is Raising a $100 Million Fund for Its Crowdfunding Arm

Circle is hiring a new general partner to raise a $100 million venture capital fund.


The fund will take advantage of the deal flow coming through SeedInvest, the equity crowdfunding startup that Circle acquired in March 2019.


The listing on LinkedIn says: “The Partner will be expected to develop and drive an investment thesis designed to leverage SeedInvest’s sizable deal flow and its unique network of 250,000 investors to maximize returns.”
SeedInvest emphasizes itself a registry of potential startup investments that have been thoroughly vetted by the firm before they are shown to users.

🗞 Nonprofit Launches Blockchain Platform for Credit History in Sierra Leone

San Francisco-based nonprofit Kiva, a company that crowdfunds loans for financial inclusion, has launched a blockchain platform for credit history with the government of Sierra Leone.


According to a Reuters report on Aug. 21, Kiva and President of Sierra Leone Julius Maada Bio jointly launched the blockchain initiative in the country’s capital. 


The platform will use biometric data collected by the government, such as fingerprints, in order to access the credit history of citizens in the country. This will purportedly give a way for lenders to obtain citizens’ credit history.

🗞 Using Fear & Greed Index to trade? Why not, it seems to work !

The complete list of factors with their weighting

  • Volatility (25%)
  • Market Momentum/Volume (25%)
  • Social Media (15%)
  • Surveys (15%)
  • Dominance (10%)
  • Trends (10%)

For a full disclosure on what are these factors exactly referring to please go to their website

More analysis and thoughs here

We are seeing a very high level of fear (or low level of greed). I posted below a graph of their Fear & Greed Index followed by a graph of the Bitcoin Price.

In the last 18 months, the indicator dipped strongly 2 times before and when it did you can see the reaction by BTC a few weeks later !

To see this graph, go to my previous blog post

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📑 Daily Crypto Calendar, August, 23rd💰

“Nash will go live on 23 August 2019. ETH/NEO cross-chain trading, funds management tools and fiat ramps will be available at launch…”

“Due to breaking changes for exchanges, we have scheduled a soft fork on August 23, 2019.”

“Parntership with top 100 CMC token.”

“If you’re in Berlin this week, be sure to RSVP for the Stellar Meetup with SatoshiPay on Friday, August 23!”

“We invite you this Friday to learn more about #AE’s #Sophia language, #statechannels and #Starfleet incubator.”

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STEEM Trading Update by my friend @cryptopassion

Here is the chart of yersterday :

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Here is the current chart :

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So the bounce from the support line created from the lows looks quiet powerfull. We are going quickly in direction of the resistance line at 0.18$. The question will be to see if we will be able to break it this time or if we will play ping pong between these 2 lines. Stay carefull, I’m not sure that the bounce on the BTC will continue so we could be heavly impacted on the STEEM.

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Last Updates

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Join this new Free To Play on the STEEM Platform !