Velas History

What does Velas do?

Velas (CRYPTO:VLX) is a blockchain platform that is designed to be scalable, secure, and easy to use. It is built on a new consensus mechanism called Delegated Proof-of-Stake (DPoS). This consensus mechanism is designed to be more energy-efficient and secure than traditional Proof-of-Work consensus mechanisms. Velas operates using a decentralized network of validators. These validators are responsible for processing transactions and securing the network. VLX holders can stake their tokens to become validators and earn rewards for participating in the consensus mechanism. The main objective of Velas is to become the leading blockchain platform for developers and users alike by providing a scalable, secure, and easy-to-use platform for building and deploying dApps.

Documentation

Company Snapshot

Employees

100-200

Market Cap

$11.76M

Head Office

Zug, Switzerland

Year Founded

2018

What does Velas specialise in?

/Ethereum Ecosystem

What are the products and/or services of Velas?

Overview of Velas offerings

Cross-chain compatibility: Velas is developing a cross-chain bridge that will allow users to transfer assets between Velas and other blockchains.

Ease of use: Velas is EVM-compatible, which means that developers can easily deploy their Ethereum dApps on Velas without having to make any major changes.

Low fees: Velas transactions are typically much cheaper than Ethereum transactions.

Metaverse support: Velas is developing a metaverse platform that is powered by the Velas blockchain.

Scalability: Velas can process thousands of transactions per second, which is much faster than Ethereum.

Security: Velas is secured by a decentralized network of validators.

Velas

What does Velas do?