Velas provides us extremely scalable transactions the blockchain wants.
Tags: Blockchain Technology, Smart Contracts, Algorithms, Artificial Intelligence, Neural Networks

Hi everyone, this is a brand new day, i hope everyone is staying healthy, indoors and staying safe as we recover from the pandemic. While at home trying to keep busy, i believe that one way or the other you have gotten in contact with a thread, or a post about crypto currency, bitcoin or blockchain technology; did you read up about it ?

Bitcoin is now a popular word, especially during this lockdown as it was dicussed as an alternative to fiat because it is a digital wealth and henceforth safe; but before bitcoin fully implemented, there was the blockchain technology, which makes every crypto currency tick and function well. The blockchain technology has influenced almost all facets of life, from the banking system, to the health sector, offices, the msme platforms and even the gaming world has embraced the blockchain and crypto currency.

But do you know that even with tremendous capability of the blockchain, problem persists and several platform has tried to fix it all to no avail;

A problem is the scalability of the blockchain. What does scalability means? I term it the limited rate or time in which a network (node) can process transactions.

Another problem associated with the blockchain is the centralization of the blockchain to some extent, and network inefficiency.

Come to think of it, that after 10 years of bitcoin and blockchain dominance; decentralization has aged well, and to this effect there’s a platform which tackles and solves the scalability and also provide decentralization on their blockchain; it is The VELAS Blockchain Platform.

What is Velas?

Velas blockchain is a self-learning and self-optimizing blockchain platform for secure, interoperable, extremely scalable transactions and smart contracts. The Velas platform is going to use optimized Artificial Intelligence (AI) neural networks to enhance its consensus algorith and ensure decentralization, stability and security on the Velas Blockchain.

How does the Velas Blockahin work?

The Velas platform uses AI-Operated DPOS (AIDPOS) consensus to secure the blockchain for high volume transactions while also ensuring decentralization, stability and security. Through the use of the AI-operated algorithm network, corruptible human dependencies are removed thereby fixing major issues like the 51% attack and other compliance problems.

The Neural networks of the Velas platform are used to calculate the rewards for nodes’ operators and time of block formation. The Artificial Algorithm performs the following tasks on the Velas blockchain:

AI Algorithm is used to determine the node rating.

AI Algorithm is used to determine the number of blocks in each established transaction.

AI Algorithm blocks fake messages, false transactions and ensure that theres an increase in the quality of messages in the network; the resistance of the network are increased too.

AI Algorithm also helps the platform to correctly award rewards.

AI Algorithm helps the nodes to function and be active.

I believe you are eager to have a trial at a platform who fixed the scalability facing the blockchain, and you want to use the platform and also give a review ? Look out for my next blog on the Velas platform.

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