Token Review — $VITE
What is $VITE?
$VITE is a DAG (Directed Acyclic Graph) coin, similar to $NANO which has smart contracts, snapshot chain, a built-in DEX, a Point of Sale solution and anti-spam measures.
Because $VITE is based on a DAG, transactions can be done instantaneously with no fees.
Features of $VITE
• Free transactions
• Instantaneous transactions
• Smart contract platform
• Cross-chain transfers via the Loopring protocol
• Built-in DEX
• Snapshot chain (using existing transactions to prevent 51% attacks, increasing the security of the network over time)
• Built-in high yield staking
• Payment app
• Global clock
Advantages of $VITE
$VITE combines Nano, Binance Chain, Ethereum, and Bitcoin.
Nano — Vite Chain uses Nano's technology, upgraded to be more resistant against spam attacks
Binance Chain — ViteX effectively replaces Binance DEX
Ethereum — A free smart contract platform compatible with Solidity and Rust
Bitcoin — Fast, free, immutable transactions
How does Vite address Nano, Binance Chain, Ethereum, and Bitcoin's disadvantages?
Nano — Nano doesn't have a global clock, thus unable to implement a credit-based anti spam system.
Binance Chain — Doesn't have smart contracts and has a fee
Ethereum — No built-in DEX, high transaction fees, slow confirmation time
Bitcoin — Slow, expensive transactions
Why isn't Vite the #1 cryptocurrency?
• No active marketing campaigns
• Small community
• Bitcoin and Ethereum has the first-mover advantage
• UX still needs improvement
• Wallet hasn't been published on the Play Store/App Store
Who are the developers?
• Chunming Liu
• Daniel Wang (Founder and CEO, Loopring Foundation)
• Ming Wu
Whitepaper — https://github.com/vitelabs/whitepaper/blob/master/vite_en.pdf
Website — https://www.vite.org/
DEX Website — https://vitex.net/
Forum — https://forum.vite.net/
Twitter — https://twitter.com/vitelabs
DEX Twitter — https://twitter.com/vitexexchange
Medium — https://medium.com/vitelabs
Telegram (EN) — https://t.me/vite_en
Telegram (ID) — https://t.me/vite_indonesian
Reddit — https://www.reddit.com/r/vitelabs/
Discord — https://discordapp.com/invite/CsVY76q
GitHub — https://github.com/vitelabs
Vite currently sits in rank 407. As a result, there's still massive upside potential. This is still a high-risk buy, even if the fundamentals are solid. For now, I'm moving 25% of all my Nano holdings to Vite (some to $DERO and $HTR) in the hopes that the price goes up a lot. It's already listed on Binance, so it's really easy to buy. I can guarantee you if they start to market their coin, it'll shoot up to the top 50.