Velas Platform Use Case and Features
Tags: Blockchain, Smart Contracts, Algorithms, Artificial Intelligence, Consensus

After introducing the Velas platform to us all, i hope we have taken time to go through the benefits and derivation the platform brings. I will continue from where i stopped in my last post. And i will take time to evaluate to you the core features of the Velas platform.

The Velas blockchain uses Artificial Intelligence enhanced DPOS (AIDPOS) consensus on the platform to make sure that there is a high rate of volume processes on the platform, and equivalently ensuring that decentralization and security of the platform are not affected at all. And with the platform, you can own a smart contract on the blockchain, run multiple transactions at high speed and lots more.

Features of the Velas Platform includes the following:

Velas Artificial Intelligence: The AI on the Velas platform is going to be employed to identify the relationships between datas on the platform; It adapts input in a concise way and generates the best results without changing the ouput. This segment requires 3 velas node network in The Block size, The Block time and Transaction per second (TPS).

Rewards on the velas platform includes:

1. The Velas platform scalability is close to 30,000 transactions per second solving scalability troubles.

2. The Velas platform creates block only when required. (On users discretion).

3. There are no manual selection of block producers, its all done by the AI totally disruputing bias-ness or favoritism.



AI-enhanced DPOS (AIDPOS): Artificial Intuition Delegated Proof of Stake (AIDPOS) — is used to secure the Velas blockchain; it helps to fix the scalability problems and also tackles the Bitcoin’s POW system and the POS system of both Peercoin and NXT.

Note: POW: Proof of work, POS: Proof of stake

Do you want to use the Velas platform? Avail yourself to the transaction process below:

Use Case of the Velas blockchain:

1. Staking: You can stake the velas token on wallet.velas.com only, all you have to do is visit the webpage, create a wallet, buy vlx from exchanges to your velas wallet then you stake on the platform with you choosing your options yourself; the Return on Investment ROI is 0.8% — 1.5% each month depending on the staking pool.

The minimum tokens required to stake on the velas platform is 10,000 velas tokens. Also remember that while staking, you have the opportunity to choose any node you desire on the platform.

2. Payments: VLX can be used for smart contracts and transactions in Velas wallets, with a 25% discount on payment fees. In addition, VLX, which will be used as the main currency in CoinPayments and the upcoming exchange, will also enjoy a 25 percent discount on transaction fees.

3. High volume transactions (30k Tx/ sec): This means that the Velas blockchain can conduct 30,000 transactions each seconds.

4. Security: The DPOS algorithm is used to further tighten up the platform.

5. Smart contracts: Just as the etherum smart contract and waves blockchain or neo, Velas platform also allows the creation of smart contracts, easier to set up, and can contaimn several transactions in a seconds after solving scalability problems.

6. Tokenization

VELAS TOKEN

Velas ticker: (VLX)

Blockchain: Velax

Circulating Supply: 1 342 809 241 VLX Token

Total Supply: 2 080 131 909 VLX Token

Do use the links below for more information and details about the project:

Website: https://velas.com/

White Paper: https://velas.com/VELAS-Technical_Paper.pdf

Twitter: https://www.twitter.com/VelasBlockchain/

Telegram: https://t.me/velascommunity

Facebook: https://www.facebook.com/velasblockchain/

Instagram: https://www.instagram.com/velas.blockchain/

Medium: https://medium.com/@VelasBlockchain

Linkedin: https://www.linkedin.com/company/velas-ag

Github: https://github.com/velas

Discord: https://discord.gg/CTcKpPc