What Is VITE Coin?
What Is VITE Coin?

What Is VITE Coin?

By StealthEX | StealthEX Blog | 8 Apr 2021


VITE is a cryptocurrency and reactive blockchain that uses a message-driven asynchronous architecture and a Dag ledger. The main aim of VITE is to develop a robust public platform for dApps with great bandwidth and scalability. 

VITE Crypto Brief History

This platform was launched in June 2018. VITE did not conduct a public ICO. Tokens were distributed through a private sale. 400 million VITE tokens were issued and distributed (not it's over 1 billion). The issuance took place in five phases with one-month intervals, with the number of coins divided equally: 20% for each phase.

The migration of tokens and their exchange from ERC-20 to the VITE tokens began in the fall of 2018. In 2019, VITE Labs was one of 3 startups taking part in the US government's Startup in Residence (STIR) program in Syracuse. As part of the program, the project is working with the local government to develop a platform for a credit platform based on VITE.

VITE Blockchain Features 

Many investors believe in the VITE blockchain because this platform has the following features: 

  1. Dag Ledger. All transactions in this platform are allocated to accounts. This means that one transaction changes the state of one account. Send transactions are separated from the receive ones. 
  2. Asynchronous architecture. The platform ungroups transactions into transaction pairs. Transaction checks are asynchronously split, so a high level of throughput is achieved. Integrations between contracts are based on an asynchronous messaging model.
  3. Solidity++. The language is combined with almost all Solidity self-executing contracts. This syntax supports asynchronous semantics, contract scheduling, and allows for a number of standard libraries.
  4. Integrated decentralized ecosystem. An end-to-end system for value transfer supports crypto-asset issuance, cross-link chain transfer, and transactions between tokens on the Loopring protocol. 

High throughput is achieved through the use of a DAG-book structure. An orthogonal transaction can be written in parallel to the book. Multiple consensus groups are independent of each other in the HDPoS algorithm and function in parallel. The basic concept is that integration between contracts is based on an asynchronous messaging model. 

Minimal latency is achieved thanks to the fact that VITE crypto uses HDPoS, which completes the creation of a block rotation using a proxy node. 

VITE Prospects 

Developers are constantly improving this project. In December 2020, they released its new stage, VITE 2.0. Today, they are making the system more decentralized. In this case, they pay attention to trustlessness, openness and competition.

Their focus is tech. The team wants to improve the VITE protocol for reaching cross-border asset transfer capability. Furthermore, the team is going to increase compatibility with Web3, Remix and other tools.

At the product level, they're going to optimize the design of services and decrease the cost of deployment. What's more, in 2021, they will also update their mobile wallet.

The most recent release is the announcement of the ERC-20 VITE token migration. It's needed to make the transaction among different chains faster and simpler. Moreover, tokens will be available on the Upbit platform. 

Except for the project itself, the team is also going to continue conducting giveaways. They allow winners to get VCP and exchange them for goods in the VITE store. 

VITE Wallet

VITE also offers to use the app to store tokens. This VITE wallet can be used not only for VITE but also for other cryptocurrencies. What's more, it conducts marketing campaigns there to attract new members - you can share your vite wallet referral code with your friends.

VITE Summary 

VITE cryptocurrency is a promising asset, and its developers are constantly improving the decentralization and usability of the project. All this makes the VITE price prediction positive.

How To Buy VITE Crypto

Vite token is available on most popular exchanges, including StealthEX. This platform doesn't have any hidden fees for swapping. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange service. With this platform, users don't need to wait much to get tokens. So if you already have savings in crypto and wish to invest in VITE coin, just go to StealthEX and follow these easy steps:

  1. Choose the pair and the amount for your exchange. For example ETH to VITE.
  2. Provide the recipient address to which the coins will be transferred.
  3. Move your cryptocurrency for the exchange.
  4. Receive your Vite coins.

Also, you can study a detailed article with an exchange guide or watch a tutorial video on our YouTube channel.

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StealthEX

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