In order to make outright investment choices, nothing works better than gaging success alongside critics. Healthy or not, let's kick into it
Today we'd be jumping on the Velas train, just to see what the inside looks like, then we can decide whether or not to stay.
The industry is expanding daily with new projects rolling in with different focuses, although most of these projects may be older than we know, but as a result of previous limited exposure, most were shadowed out of mainstream, but as the technology becomes much more relevant, the network of its body of innovations tend to see some lights flashed on them.
Velas is a blockchain network based in Switzerland, it's a network of scalability, running a EVM/eBPF hybrid chain providing solutions for DApps with up to 50k TPS. Hybrid chains allow smart contracts run on the blockchain, while easily sourcing or computing data off chain with the help of decentralized oracles. Velas tends to target the needs of developers, which is solidity, by creating a high performance network which splits its modifiable states across multiple accounts on the chain. It combines eBPF Solana's hybrid and Ethereum VM to make integration and DApps development much easier.
Unlike many other blockchains, Velas is not PoW, PoS nor a Dpos, it runs a totally different type of network powered by AI, thus AIDPOS. Velas in full means Virtual Expanding Learning Autonomous System The big idea is to build a system that operates with minimal risks, bypassing third party involvements.
By using neural networks, the Velas blockchain makes use of Artificial Intuition to optimize its unique consensus algorithm. Known as Artificial Intuition Delegated Proof of Stake or “AIDPOS”, the AI-controlled algorithm will automatically calculate the optimal reward for node operators, VLX stakers, and block discovery times. In this fashion, the network can maximize throughput while keeping decentralizing, stability, and security at maximum efficiency.reference
Though the network collects quite a lot of data, it's however stated to be privacy protected, whereas participants' data are autonomously stored in the smart contracts. Coupled with this, Velas is an ultra performance blockchain with more than 30,000 transactions per second, making it amongst top scalable networks. Also, the chain is reported to be resistant to various types of attacks, it supports applications written for the Ethereum ecosystem, this means it is compatible with its solidity language and EVM. It also runs a supposedly decentralized custodian and management system for different blockchains.
The team believes an automated blockchain is much more risk free compared to one exposed to human errors. Velas is however a blockchain that may see certain interest in coming times, this, based on it's effortless embodiment of the workloads. The beauty of its AI module is that it stands as a layer that prevents known attacks, and this process results in slowing down the network when suspicious attacks are spotted or a network malfunction.
VLX can be utilized in many ways including payments, fees and for supporting Proof-of-Stake consensus. Staking as usual with many other projects out there enables validators and their delegators to come to a consensus on transactions, producing blocks and receiving rewards as incentives for unique block production.
Currently, VLX has a market dominance of 0.02%, a market cap of $389,548,399.38 which is up 3.19% each VLX is trading at $0.1811 each currently. It's circulatory supply is 2,124,380,663, it has no max supply ;)
This is only for research and educational purposes only