The blockchain network that is self-learning and self-optimizing and claims to be able to deliver up to 30,000 transactions per second with a speed of anywhere from 1 second to 2 minutes. Velas is a blockchain ecosystem that implements an AI-powered Delegated Proof-of-Stake (AIDPOS) consensus mechanism for dramatically improved scalability, high security, and interoperability.
We are excited to announce the listing of Velas (VLX) for Bitcoin.com Exchange users! Deposits and trading are enabled, and the VLX/BTC and VLX/USDT markets will be open for trading on Monday, July 20th, at 10:00 am UTC.
What is Velas?
Velas Network AG was founded in 2019 in Switzerland by Alex Alexandrov, the CEO of CoinPayments. Velas is a self-learning and self-optimizing blockchain platform for secure, interoperable, extremely scalable transactions, and smart contracts. The Velas blockchain uses neural networks optimized by artificial intelligence to enhance its consensus algorithm, which maintains decentralization, stability, and security.
What is the concept of Velas?
The Velas blockchain allows for the creation of public and private containers for all coins supported. These containers will allow for the creation of an on-chain/off-chain scalability solution for all other coins as needed and serve as one ecosystem wallet for all Velas’ smart contracts.
Unparalleled durability and increased tolerance mean that the Velas blockchain is unique within the field of distributed ledger technology, opening up a new era in e-commerce and the global economy.
How does it work?
Velas utilizes a unique, innovative consensus mechanism a so-called ‘Artificial Intuition Delegated Proof of Stake (AIDPOS).’ The AIDPOS framework sits at the core of the Velas blockchain, insofar that it is supported by a theoretical process called ‘Artificial Intuition’. Meaning that the above-mentioned technology seeks to collect, identify, and assess patterns and/or relationships across all data sets that go in and through the network. This process results in an ultra-efficient blockchain operation.
The company claims that it can deliver up to 30,000 transactions per second by only creating blocks when they are needed, while at the same time keeping the network safe from the threats and malicious activity. This amounts to a block per/second speed of anywhere from 1 second to 2 minutes.
What is the function of its coin?
The Velas blockchain has its own cryptocurrency, the Velas coin (VLX). It is used to fuel the Velas blockchain network, it is necessary for smart contracts and also being used for transactions.
What pairs can you trade?
Get ready and head over to the Bitcoin.com Exchange to trade this lightening fast coin!