NFT on Velas is a good idea
Choosing the right project to create your blockchain project is not easy. At the beginning of 2022, when, according to the DappRadar report for January 2022, Ethereum led the industry in terms of the total amount of funds locked in smart contracts, Ethereum’s share in the industry was then 65%. However, starting from the end of last year, until the middle of 2022, we could see how the Ethereum monopoly is gradually losing ground due to expensive fees in favor of alternative blockchains.
Velas is a more reliable fork of Solana
As an alternative to Ethereum, the Solana blockchain is now used quite often. But not everything went so smoothly for this blockchain, recently Solana often faced infrastructural difficulties.
September 14, 2021, there was a major failure due to the inability to process too many transactions. December 4, 2021, Solana encountered a major bug that caused block generation to be suspended. In 2022, Solana has already experienced five major infrastructure failures.
Velas is a fork of Solana but with more stable infrastructure and Ethereum Virtual Machine (EVM) integration to run smart contracts on Solidity. Velas boasts the low cost of Solana, but is also able to work with EVM. Against the background of other blockchains, Velas compares favorably with its high transaction speed, affordable transaction fees, and a greater degree of reliability.
Velas Achievements
Velas is a blockchain with high growth potential, as we at Barter Smartplace believe, as does the well-known Italian sports car manufacturer Ferrari. Velas Network AG is the title sponsor of the Ferrari Esports series, as well as the Ferrari esports team, which plans to participate in F1 Esports.
Among the projects built on the Velas blockchain is the decentralized exchange WagyuSwap, which boasts very low fees and fast speed, as well as support for the aforementioned Ethereum Virtual Machine.
Velas is also actively used to create non-fungible tokens. Among the well-known NFTs on Velas are Velas Punks and CryptoBroke.
Velas Punks is a generated art, followers of CryptoPunks ideas.
CryptoBroke is the first handcrafted collection on the Velas blockchain.
The first crypto marketplace on Velas
Barter Smartlace and Velas blockchain signed a grant agreement in 2021. We are the first marketplace deployed on the Velas blockchain. This gives us three advantages at once:
- Low fees for users.
- Simplified user interaction with blockchain.
- Wide range of possibilities for smart contracts.
In general, Velas is a worthy alternative to Ethereum and Solana.
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