What Is Vite? (VITE) Complete Guide Review About Vite.

What Is Vite? (VITE) Complete Guide Review About Vite.

What Is Vite?

Vite has built a Directed Acyclic Graph (DAG) based smart-contract platform, with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The Snapshot Chain of utilizes Hierarchical Delegated Proof of Stake (“HDPoS”) to achieve network consensus, while supernodes take only staking rewards and no transaction fees. The virtual machine maintains compatibility with EVM, and utilizes asynchronous smart contract language, Solidity. The VITE token is the currency for simple token transactions and smart-contract executions on the network, with users staking VITE for transaction quota instead of consuming gas.

Vite Coin can also be used to vote for Snapshot Block Producers (aka supernodes). In addition, a VITE staker with unused transaction quota can lease such quota to dApps in exchange for their tokens. For instance, users can stake in exchange of native decentralized exchange token, VX. They 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. They designed to bridge every blockchain in a decentralized way.

Vite Storage Key Points

Coin BasicInformation
Coin NameVite
Short NameVITE
Circulating Supply486,480,645.72 VITE
Total Supply1,019,051,756
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Features

Universality

Works between any two chains

Trustlessness

Provides a bridge in a decentralized way

Product

Vite current products include a decentralized exchange a multi-purpose wallet application (App), payments and government/enterprise blockchain applications.

  • ViteX is a decentralized exchange with on-chain orderbook and matching engine, and supports currently 20+ digital assets.
  • The App is a mobile application that allows trading asset management (wallet), dapps based games) in one place.
  • Pay is a fast and feeless payment solution, currently available to use in Singapore’s Ce La Vi Sky Bar and taxi services under the Midwest Global network – Users can pay for merchants with wallet, who in turn receive payment with zero fees with near-instant settlement. also integrated with the e-commerce platform OpenCart, and one can utilize at the official store.
  • VitePlus is a -based enterprise blockchain solution for governments and enterprises. They have developed a pilot app, SyraCoin, for the Syracuse government, allowing city housing fund donors to receive blockchain-based coupons that are redeemable for goods and services within city bounds.

Where Can Bridge Be Used

Instant Cross-Chain Transfer

Allow assets to utilize cross-chain between any blockchain network and participate in the multi-chain ecosystem.

Stable Coin Cross-Chain Exchange

Building on it’s trustlessness, provides users with a Stablecoin exchange between multiple blockchain networks.

Cryptocurrency Custody

Vite Coin when a decentralized exchange (DEX) integrates it will access all the blockchains that support and enable the deposit and withdrawal of multiple cryptocurrencies.

Truly Decentralized Exchange

The world’s first DEX born on DAG; a decentralized open finance platform. Participate in decentralized governance by simply holding the VX coins. Traders enjoy 100% refund of trading fees in the form of dividends. Trade mining, stake mining, referral mining, liquidity mining, and list as mining. Mine your VX coins in up to 5 ways every day. Anybody can set up a DEX on and list tokens, as easy as creating a store on eBay. Instant, on-chain order matching makes the DEX trading experience mirror that of centralized exchanges No KYC. Your information only stays with yourself.

Bridging Every Blockchain in a Multi-Chain Future

  • Directed Acyclic Graphs (DAG)
  • Fast Transactions Per Second (TPS)
  • Instant Confirmations
  • Zero-Fee Transactions
  • Snapshot Chain Technology
  • Built-in Decentralized Exchange (DEX)

How can you buy or mine VITE?

Vite Coin may purchase at major exchanges such as Binance, OKEx, and Bittrex. To ‘mine’ you may run a Snapshot Block Producer (aka supernode to partake in the HDPOS consensus process) on the network, and receive block rewards in the form of the annual inflation of 30 million coins. You may also run a full node and receive rewards from the foundation.

Supply Distribution

The private Sale tokens comprise 40.43% of total supply. It was conducted in May 2018 for 404.33MM at a rate of 7,000 = 1 ETH and raised a total of 57,762 ETH (~$40.43MM) at ~$0.10 per token, selling 40.43% of the total token supply.

  • Marketing tokens comprise 10.00% of total supply.
  • Ecosystem Development tokens comprise 23.57% of total supply.
  • Team tokens comprise 20.00% of total supply.
  • Airdrop tokens comprise 5.00% of total supply.
  • Advisor tokens comprise 1.00% of total supply.”