The Velas Airdrop: Interoperable, Scalable Transactions

Overview

  • Velas is airdropping 210,000 VLX to upto 5,000 lucky winners in the ‘VELAS (VLX) Grand $21,000.00 USD Airdrop’.
  • Velas is Artificial Intuition-operated DPoS Blockchain and Ecosystem for secure, interoperable, extremely scalable transactions

Velas
Source : Medium

What Is Velas?

Velas is a blockchain based open-source platform, and decentralised product ecosystem that is powered by artificial intelligence (AI). AI technology lies at the heart of our Ecosystem, and it optimises blockchain’s performance while also aiding other products in their operations.

Velas,  was recently named one of the top 23 crypto valley startups by CV VC and PWC. Velas aims to solve the scale and usability problems that plague cryptocurrencies.

The industry is currently afflicted by a problem: how to make blockchain both safe and scalable. As a result, it is planning to add an AI module as an additional layer to avoid known attacks by slowing down the blockchain when the system is under attack and speeding it up when the network is not under attack.

A revolutionary consensus mechanism called  AIDPoS will utilise machine learning to automatically adjust the Velas blockchain to changing circumstances, assuring optimum performance and resilience at all times, to achieve the optimal combination of speed, throughput, and security.

Velas
Source : ZyCrypto

About VLX

Velas has its own coin as well. ‘VLX,’ is a digital asset with a variety of important purposes.

To begin with, VLX is necessary to power smart contracts because it is the network’s fuel. In addition, the VLX token is utilised to make payments.

Users may save 25% on fees by utilising the VLX token within the wallet. When utilising the VLX token on the CoinPayments platform, a 25% discount is offered, which is subtracted from the trading costs.

The VLX token is also required for staking in addition to the aforementioned functions.

Staking is a method of incentivizing users to keep a specific amount of tokens locked up in order to sustain the blockchain. In exchange, the user will be entitled to a proportionate part of block rewards and transaction fees based on the number of tokens they own.

Additional incentives are offered in the case of Velas for individuals willing to provide GPU power to the network. In other words, the team wants to compensate consumers based on how much they contribute to the ecosystem.

VLX Tokenomics:

  • Total supply – 2,124,380,663 VLX
  • Circulating Supply – 2,124,380,663 VLX
  • Inflation rate – 8%

Features of Velas

  • Velas Vault – a unique way of storing secrets and private keys. This opens the door to a variety of applications, including decentralised custody solutions for assets native to other blockchains (BTC, ETH, ERC-20, etc).
  • Velas Wallet – Velas has a multi-currency wallet that also has staking capabilities.
  • MicroApps – Velas will soon allow cross-platform decentralised apps that store both the code (logic) and the user interface on the blockchain.
  • EVM – enables all Ethereum-based smart contracts and decentralised applications (dApps).
  • Instantaneous, low-cost transactions – very efficient performance at a fraction of the cost
  • Account – Velas Account is a passwordless solution that makes interacting with blockchain apps as easy as using a Google account or PayPal, without jeopardising our users’ security.
  • Access Management – a decentralised access management system that allows users to govern file access on IPFS using a variety of encryption methods.

About the airdrop

Velas is airdropping 210,000 VLX to upto 5,000 lucky winners in the ‘VELAS (VLX) Grand $21,000.00 USD Airdrop’.

How to Participate?

Participate in this airdrop and become a part of a ecosystem that allows secure, interoperable, extremely scalable transactions!