What is Velas (VLX)? What is Velas (VLX)?
Velas is the world's fastest EVM blockchain allowing up to 75,000 tx/s, processed instantly, with the highest security available, almost free. Velas Ecosystem consists of decentralized products built on top of their chain to introduce the ease of user experience of open source and decentralized products. Who are the founders of VelasVelas is an ecosystem startup based in Switzerland. It was founded in 2019 by Alex Alexandrov, a leading blockchain and cryptocurrency entrepreneur and investor. He is also one of the founders of CoinPayments, the world's No. 1 cryptocurrency; consultant and investor of Mind AI, a well-known Korean artificial intelligence startup. Alex is consulting with the FBI, Europol, and various national governments on technology, cybersecurity, blockchain, and AI implementation. What makes Velas unique? EVM – Supports all smart contracts and dApps based on the Ethereum stack. Low Cost Instant Transactions - Extremely efficient performance at a fraction of the cost. Velas Account: Passwordless solution that makes it easy to interact with blockchain applications at the Google account level and PayPal-like convenience, without sacrificing our user's security. Access Management: A decentralized access management system, which allows users to control access to files in IPFS using multiple types of encryption. Velas Vault: a new solution to store secrets and private keys. This enables various use cases, such as decentralized custody solutions for assets native to other blockchains (BTC, ETH, ERC-20, etc.). Velas Wallet – multi-currency wallet with staking functionality. MicroApps: Velas will soon support decentralized cross-platform applications where not only the code (logic) is stored on the chain, but also its user interface. How is the Velas network protected? The Velas blockchain is based on a high-performance protocol, which implements an innovative timing architecture, a more efficient transaction processing mechanism, and a consensus model than other blockchains. Velas is Solana and Ethereum's fully hybrid EVM/eBPF chain, inheriting the best of both: security, scalability, high performance, 1.2-second finality, extremely low fees, and EVM/Solidity support. How many VLX's are around? Velas is based on Delegated Proof of Stake (DPoS) consensus, providing participants with the most favorable conditions to interact with each other and motivate them to act for the benefit of the network. inflation rate - 8% What can VLX be used for? Velas Coin (VLX) is used for transactions, payments, fees, and to support proof-of-stake consensus. Staking allows block producers (validators and their delegators) to consent to the transaction and receive staking incentives for honest block production.