Blockchain technology as proven to be a useful technology in this modern day. Ranging from its varieties of uses in varrious sectors. Blockchain is an open ledger record of immutable data which can not be manipulated it provides every transparency that any payment gateway wil need. It is a decentralized framework which is transparent as everyone can easily see the record of transactions that was carried out on the network without no hidden cover. Blockchain has been of tremendous use and impact not just in the finnace sector alone but also in the many other industries like the automobile, health, security and IT industry. Its usecase has greatly influenced and improved a whole lot of things.
The goal of blockchain is to create and influence that which Will necessitate its wide adoption and transition to become mainstream. But just like any other technology, blockchain is faced with its difficulties and challenges. Inspite of all these improvements and usecase many financial institution has not come into terms with making crypto currency as part of their payment acceptable currency. Many of these financial institutions have not adopted fully the potentials of blockchain technology.
In the past few years blockchain has suffered great criticism from varrious critics and persecutions from government regulatory bodies which has in one way or the orther prevented the adoption and gross transition to mainstream. Reason for all this can be traced back to the quality of service offered by most crypto projects.
There have been report of several hack incidence and many have led to the tremendous loss of investors funds. Many are now scared to patronize blockchain technology for fears of being hacked. In order to turn the tides arround there has to be a change in perception in the way people and institution sees blockchain technology. The best outfit ready to deliver this mandate is velic project.
Velic project is developed with a sole aim of driving the attention of the general public and financial institutions to the benefit of using blockchain technology, these institutions can not be won over by mere gainsayings, but rather by action and proofs.
ISSUES VELIC SEEKS TO SOLVE
Hacking and system vulnerability
Blockchain is a secure framework on its own, on which other DApps are built on it. These other applications and services are somehow susceptible to hack threats and vulnerabilities that hackers can exploit. These hack incidence can lead to heavy loss of data and funds. This is exactly what velic seeks to correct and prevent. By providing a hackk-proof felicity which os repellant to hack and hackers exploitation. With this security measures in place investors and institutions can see clearly the advancement of blockchain network and move to adopt it again.
Latency
Reoccurring in bitcoin the latency between the nodes are very high. Most user which includes institutions and mega investors will love to see multiple transaction per second so as to aid their transaction since the aim of cryptocurrency is to be used as a perfect replacement for traditional fiat currencies which means it needs to mote efficient than the traditional fiat. No one wants to go and purchasea cup of coffee from a coffee shop and wait for the whole day for their transaction to be execute since they using crypto as a means of payment. For blockchain technology to attain that wide adoption the latency period needa to be reduced to the lowest minimum. The use of velic exchange will guarantee this as velic will boast of low latency and high transaction validation time.
Adequate infrastructure
As good as it may sound that many people are now coming to the realization of the potency of blockchain technology and are coming to be users, it comes with a price. As many people comes into the fold so is the number of transactions growing and the more the number of transactions the more congested the blockchain network gets and the more transaction validation are being delayed. Blockchain needs adequate infrastructure to accommodate the growing Number of transaction. Velic can be the saviour we all need in the blockchain space.
ABOUT VELIC
Velic is a well established modelled crypto asset management crypto -finance platform using VELT token, with a aim to unanimously harness all existing services into a streamlined digital asset financial service which is their unique value propositions
VELIC aims to be a digital assets service provider with well grounded ecosystem.
services VELIC will provide includes:
● An exchange for digital assets
● Comprehensive financial services such as loans, ETFs, and fixed income investments
●Providing one-stop financial services for institutional investors and individuals
● Qualitative crypto assessment management for all crypto aseets on velic platform
● Vault services
These products and services will be secured under maximum security with VELIC’s proprietary security protocol layer through an integrated crypto asset exchange.
CONCLUSION
Many projects which are being developed these days are devloped mainly towards generating profit only, it takes a sincere team with foresight and futuristic plan to actually see beyond the early profit a project can generate and try to improve the state of the efficacy of cryptocurrency and blockchain technology and this is exactly what velic project is trying to achieve. We hope to see that they acheive their goal and cryptocurrency gets a widespread adoption
To learn more about VELIC, check out the links below;
Website: https://www.velic.io/
Whitepaper:https://www.velic.io/web/download/VELIC_White%20paper_V1.01.pdf
Twitter: https://twitter.com/velicfinancial
Telegram: https://t.me/velicfinancial
Facebook: https://www.facebook.com/velicfinancial
My Details
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Profile Link: https://bitcointalk.org/index.php?action=profile;u=2539309
Email: abulu730@gmail.com