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VITE (VITE) is a cryptocurrency and the native token of the Vite platform, a zero-fee, lightning-fast blockchain for the decentralized economy. It utilizes a Directed Acyclic Graph (DAG) structure and Hierarchical Delegated Proof of Stake (HDPoS) consensus mechanism, enabling fast, reliable, and secure transactions. VITE is used for executing simple token transactions, smart contract applications, staking, and voting for Snapshot Block Producers. The platform offers various products, including ViteX (a decentralized exchange), Vite App (a mobile application), VitePay (a fast and free payment solution), and VitePlus (a blockchain solution for governments and organizations).
VITE (VITE) is the native token of the Vite blockchain, a smart contract platform that enables fast and reliable transactions. It utilizes Directed Acyclic Graph (DAG) technology and the Snapshot Chain to perform free transactions. Here are the key ways VITE is used:
Transactions and Incentives: VITE is used for transactions and incentivizing the network. Users can stake and use VITE to vote within the ecosystem, earning rewards by participating in the network's consensus mechanism.
Voting and Governance: VITE holders can vote for Super Block Producers (SBPs), which are nodes that validate transactions and maintain the network. Voting does not lock VITE coins, and users can revote to another SBP at any time.
Staking for Quota: Users can stake VITE to obtain quota, which are network resources for transactions. The minimum staking amount is 134 VITE, and the lock-up period is 3 days. This allows users to perform transactions without gas fees.
Decentralized Exchange (ViteX): VITE can be traded on ViteX, a decentralized exchange built on DAG technology. Users can earn trading fees by staking VX, the platform token of ViteX.
Blockchain Applications: VITE can be used for various blockchain applications, such as VitePlus, which offers high-performance blockchain solutions for large and medium-sized enterprises and governments.
Ecosystem Participation: VITE holders can participate in the VITE ecosystem by using the all-in-one wallet app Vite App, which manages VITE tokens and provides access to other features and products within the ecosystem.
Overall, VITE plays a central role in the Vite ecosystem, facilitating transactions, governance, and incentivizing network participation.
To store VITE (VITE) tokens, you need to choose a VITE wallet. There are several options available:
Noone Wallet: This is a free crypto wallet app that supports VITE tokens. You can easily create a VITE address, send, and exchange over 1200+ coins and tokens directly in the app.
Vite Wallet App: This is the official wallet app provided by Vite. You can use it to receive VITE tokens by opening the Vite token and pressing "Receive," then sending to the VITE address shown.
Web App: You can also use the Vite web app to store your tokens. To receive VITE tokens, send them to the VITE address that appears in the top left under "ViteConnect Address".
Remember to always do a test run first and only send a small amount for any first transaction of a new crypto to be safe.
To buy VITE (VITE) tokens, you can follow these steps:
Choose a Centralized Exchange (CEX):
- Select a reliable and trustworthy crypto exchange that supports VITE purchases, such as CoinMarketCap, KuCoin, or Pionex.
- Ensure the exchange has solid security, liquidity, and a competitive fee structure.
Create an Account:
- Enter the required information and set a secure password.
- Enable two-factor authentication (2FA) for added security.
Verify Your Identity:
- Complete Know-Your-Customer (KYC) verification, which may require providing personal and identification details.
Add a Payment Method:
- Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods.
Buy VITE:
- Use fiat currency to buy VITE directly if supported, or first purchase a popular cryptocurrency like USDT and then exchange it for VITE.
Alternatively, you can also buy VITE through a crypto wallet like KuCoin Wallet or MetaMask, which allows you to store and manage your cryptocurrencies securely.
VITE (VITE) is a cryptocurrency launched in 2018. The Vite Mainnet was launched on September 25, 2019. It is based on a message-driven, asynchronous architecture and a DAG-based ledger, which allows for fast and fee-less transactions. The consensus mechanism used by VITE is called Hierarchical Delegated Proof of Stake (HDPoS), a multi-tiered algorithm that ensures high-speed transaction verification and confirmation.
VITE is used to stake for computational and bandwidth resources and can be retained at no cost once transactions are complete. It is listed on top exchanges and can be traded for investment purposes. The current supply of VITE is approximately 1.09 billion.
VITE is also used in the ViteX decentralized exchange, where it is required to list new trading pairs. The cost of opening a trading pair is 10,000 VITE, which is immediately destroyed. ViteX Coin (VX) is the native coin of the ViteX platform and is mined exclusively by the ViteX community. VX holders receive daily dividends from a shared dividend pool that aggregates trading fees accumulated by ViteX.
The cryptocurrency project VITE (VITE) is built on a decentralized, feeless, and high-performance public chain. Here's an overview of its key technologies and features:
DAG Ledger and Asynchronous ArchitectureVITE uses a Directed Acyclic Graph (DAG) ledger, which allows for fast and efficient transactions. This architecture enables instant finality, making it suitable for commercial-level applications. The asynchronous design ensures that transactions are processed quickly and without the need for gas fees.
Smart Contract CapabilitiesVITE supports Solidity and its proprietary Solidity++, an asynchronous smart contract language. This allows developers to create complex and efficient smart contracts that can interact seamlessly with the DAG ledger.
ViteBridge: Cross-Chain Transfer ProtocolViteBridge is a decentralized cross-chain transfer protocol that enables the transfer of assets between different blockchains in a trustless manner. This protocol uses a wallet smart contract on Vite to manage remote blockchain assets, ensuring secure and decentralized transactions.
ViteX: Decentralized ExchangeViteX is a decentralized exchange built on the Vite public chain. It offers fast transaction confirmation, order book matching, and zero gas fees. The exchange operates entirely on-chain, ensuring full transparency and fairness for all users. The ViteX ecosystem has its own token, VX, which is mined by the community and used to determine dividend ratios.
Security and InteroperabilityVITE's consensus algorithm is designed to be eco-friendly, with an extremely low carbon footprint. The platform supports cross-chain asset transfer, making it a key player in the multi-chain future. Additionally, VITE's Solidity++ language ensures compatibility with the Ethereum Virtual Machine (EVM), allowing for seamless integration with existing Ethereum-based applications.
Community and DevelopmentThe Vite Foundation, established in 2018, has raised significant funding from top institutional investors. The project has a large and active community, with users distributed across 180 countries. VITE has a roadmap of ongoing and future developments, including updates to its mainnet, wallet integrations, and new partnerships.
Overall, VITE's technology is designed to provide a fast, secure, and decentralized platform for various use cases, including decentralized exchanges, cross-chain transfers, and commercial applications.
The token VITE (VITE) has several strengths that contribute to its potential as a cryptocurrency:
Zero Gas Fees: Vite operates on a blockchain that allows for zero-fee transactions, making it an attractive option for users who want to avoid high gas fees associated with other blockchain platforms.
Lightning-Fast Transactions: Vite's Directed Acyclic Graph (DAG) ledger and consensus mechanism ensure instant finality, providing fast and efficient transactions.
Cross-Chain Compatibility: ViteBridge, a decentralized cross-chain transfer protocol, allows for easy and trustless asset transfer between any two chains, enhancing interoperability and flexibility.
Eco-Friendly: Vite's consensus algorithm has an extremely low carbon footprint, making it a more environmentally friendly option compared to other blockchain platforms.
Solidity Compatibility: Vite supports Solidity and its proprietary Solidity++, an asynchronous smart contract language, ensuring compatibility with existing smart contract infrastructure.
High-Performance DEX: ViteX, a decentralized exchange built on DAG, offers a fast, secure, and smooth trading experience with zero gas fees, and stakers can share 100% of the trading fees collected on the platform.
These strengths position Vite as a scalable, user-friendly, and environmentally conscious platform for building decentralized applications and facilitating cross-chain transactions.
VITE (VITE), a cryptocurrency, carries several financial risks that investors should be aware of before investing. These risks are inherent to the cryptocurrency market and can significantly impact the value of VITE. Some of the key financial risks associated with VITE include:
Market Risk: VITE's price can be highly volatile, influenced by market trends and the overall condition of the cryptocurrency market. This volatility can lead to significant price swings, making it difficult for investors to predict the future value of their investment.
Credit Risk: As a cryptocurrency, VITE does not involve traditional lending or borrowing, so credit risk is not directly applicable. However, the project's financial stability and ability to meet its obligations can still impact investor confidence and the overall value of VITE.
Liquidity Risk: VITE's liquidity can be a concern, especially if there are more sellers than buyers in the market. This can make it difficult for investors to sell their holdings quickly and at a favorable price, leading to potential losses.
Operational Risk: The development and management of VITE's technology and infrastructure can be prone to internal errors or mismanagement, which can negatively impact the project's financial performance and investor confidence.
Regulatory Risk: Changes in regulatory environments can significantly affect the value of VITE. If governments or regulatory bodies impose strict regulations or bans on cryptocurrencies, it can lead to a decline in VITE's value.
Speculative Risk: Investing in VITE involves speculative risks, as the success of the project and the adoption of its technology are uncertain. Investors may not achieve the expected returns, leading to potential losses.
- Currency Risk: As a cryptocurrency, VITE's value can be affected by changes in exchange rates and monetary policies, which can impact its value in different markets.
It is essential for investors to thoroughly understand these financial risks and assess their risk tolerance before investing in VITE. Conducting thorough research, diversifying investments, and maintaining emergency funds can help mitigate these risks.
- Richard Yan: Co-Founder of Vite Labs, responsible for guiding the development of the Vite protocol, which includes a zero-fee layer one blockchain and an order book decentralized exchange.
- Anthony Fu: Core team member of Vite and Vue, working at NuxtLabs, known for his contributions to open-source projects.
- Evan You: Creator of Vue.js and a core team member of Vite, an independent open-source developer.
- A collaborative being @ StackBlitz: Core team member of Vite and Vue, contributing to the development of the Vite ecosystem.