Velasblockchain
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Velasblockchain

Velas Official

Jan 11, 2021

5 min read

The Story of Velas 3.0

How we are upgrading the Velas chain to move seamlessly and in an interoperable way to navigate in a fast evolving industry

  • Solana
  • Cosmos
  • Polkadot
  • Ethereum 2.0
  • EOS
  1. P2P communication layer
  2. DPOS Consensus
  3. Block / transaction processing and validation unit
  4. Smart Contracts

A separate standard

For example, a developer of Solidity cannot simply migrate to EOS, since he needs to learn C++ to write smart contracts. Or, if you have already developed Solidity Smart Contracts for Ethereum, then the migration to EOS will force you to rewrite all contracts again.

‘Independently’ separate

The entire Ethereum infrastructure is completely incompatible with that of the EOS infrastructure, Solana, and others. You need to develop another block explorer, wallet for all platforms, and all related infrastructure for each blockchain just to provide basic functionality for the user.

Carry out separate work on compatibility with different blockchains

The varying underlying technologies are different, the infrastructure is also different, but the problem of cross-chain transactions requires full compatibility with all other blockchain technologies. Therefore, in pursuit of different blockchain communities, each project develops its own compatibility at the level of their application.

  1. High throughput. More than 30,000 transactions per second.
  2. Resistance to various types of attacks.
  3. DPoS consensus based on VLX tokenomics.
  4. Support for applications written for the Ethereum ecosystem. In other words, support for Metamask, Solidity Language and Ethereum Virtual Machine.
  5. New level cross-chain interaction. Fully decentralized custodian and management of assets of different blockchains like Bitcoin, Ethereum, ZCash.
  6. Decentralized and autonomous storage of user secrets and secrets managed by smart contracts.