Intro VITE coin

By liangqiang | pintro | 21 Apr 2020

About VITE

Vite describes itself as a public chain designed to provide a fast and feeless payment network and low-cost dApp platform for use in enterprise-grade applications. Vite uses a Directed Acyclic Graph (DAG) architecture with delegated Proof-of-Stake consensus algorithm. To reduce the security risks associated with DAG, Vite incorporates its Snapshot Chain technology.

The core of Vite's platform features asynchronous architecture, which reportedly allows for the separate writing of requests and responses, transaction writing and confirmation, and communication between contracts. For dApp development, Vite utilizes the Solidity++ smart contract language.

Vite aims to provide a complete ecosystem of products to accommodate everyday users, traders, and developers. Currently, its product suite includes a wallet, DEX (currently in beta), and a payment network. Vite is working on a comprehensive set of SDKs that will allow developers to easily build dApps on its platform.

Blockchain Ecosystem and Technical Stack

Blockchain platforms and protocols cut across existing industries and those that do not yet exist. Public blockchains are the infrastructure of all future applications and commercial services built on top of this technology.

Currently, the ecosystem of blockchain technology includes the consensus mechanism, smart contract, cross chain gateway, side chain technology, compatibility and scalability. The basic performance of a blockchain platform is determined by these components. The development of a platform takes shape in complex technical structures, difficult development, long R&D cycles and great controversy.

Around each blockchain platform, the ecosystem includes wallets, block explorers, commercial applications, node campaigns, mining machines, mining pools, development components, development modules, technical communities and project communities. The prosperity of the ecosystem directly determines the efficiency and effectiveness of the blockchain platform.

Ever since the project launched, Vite has been accelerating the research and development of underlying technologies of blockchain, actively promoting the construction of ecosystems and use cases. Vite believes in providing convenience and scalability, so that global economies can be served on a substantial scale.

At the end of September 2018, Vite launched five products including Vite Web Wallet, Vite iOS Wallet, Vite Block Explorer, Vite Store and Vite Pay.

Will Vite Labs Beat Its Own R&D Timeline (Again)?

These five products show Vite’s commitment not only to building a high performance public blockchain, but also, to being an active player in ecosystem construction. The overall strategy of the team is clear; because a public chain requires both strong engineering and a large community, stability will come as a product of consistent promotion and development.

If the TestNet phase of Vite is successful in Q4 of 2018, the MainNet may be advanced within the next few months — one year ahead of the roadmap. Vite plans to collaborate with global businesses, connecting over 100 merchants in Japan, Southeast Asia, North America and other countries by the end of 2018.

By methodically and carefully moving from TestNet to MainNet, forming a robust public chain platform, Vite is preparing a closed ecosystem showing the next generation of blockchain technology. This ecosystem should serve as an industry standard in the near future.


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