What is Vite?
Vite is a next-generation smart contract platform that utilizes Directed Acyclic Graph (DAG) technology and a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The Snapshot Chain of Vite utilizes Hierarchical Delegated Proof of Stake (HDPoS) to achieve network consensus, while supernodes take only staking rewards and no transaction fees.
The Vite virtual machine is compatible with the Ethereum Virtual Machine (EVM) and utilizes Solidity++, an asynchronous smart contract language. The VITE token is the currency for simple token transactions and smart contract executions on the Vite network. Users stake VITE for transaction quota instead of consuming gas and it 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.
Vite's current products include a decentralized exchange (ViteX), a multi-purpose wallet application (Vite App), payments (VitePay), and government/enterprise blockchain applications (VitePlus). ViteX is a decentralized exchange with an on-chain orderbook and matching engine that supports more than 20 digital assets. Vite App is a mobile application that allows trading (ViteX), asset management (wallet), dapps (e.g Vite-based games) in one place. VitePay is a fast and feeless payment solution that is currently available to use in Singapore's Ce La Vi Sky Bar and taxi services under the Midwest Global network. VitePlus is a Vite-based enterprise blockchain solution for governments and enterprises.
To purchase VITE, you can go to major exchanges such as Binance, OKEx, and Bittrex. To "mine" VITE, you can run a Snapshot Block Producer (aka supernode) on the Vite network and receive block rewards in the form of the annual inflation of 30 million VITE coins. You can also run a full node and receive VITE rewards from the Vite foundation.
In terms of supply distribution, Private Sale tokens comprise 40.43% of the total supply. The sale was conducted in May 2018 for 404.33MM VITE at a rate of 7,000 VITE = 1 ETH, raising 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 the total supply, Ecosystem Development tokens comprise 23.57% of the total supply, Team tokens comprise 20.00% of the total supply, Airdrop tokens comprise 5.00% of the total supply, and Advisor tokens comprise 1.00% of the total supply.
In conclusion, Vite is a next-generation smart contract platform that utilizes DAG technology and a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The platform's native token, VITE, is the currency for simple token transactions and smart contract executions on the Vite network. Vite's current products include a decentralized exchange, a multi-purpose wallet application, payments, and government/enterprise blockchain applications. The platform is available for purchase on major exchanges, and users can also "mine" VITE by running a Snapshot Block Producer on the network. The total supply of VITE is distributed among private sale, marketing, ecosystem development, team, airdrop, and advisor tokens.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free