Richard’s ETH Denver Takeaways
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A Letter to the Vite Fleet from Vite Labs COO Richard Yan
Dear #ViteFleet,
As you all know I attended ETH Denver two weeks ago. It’s been a fascinating experience and I would like to share some of my thoughts and findings with you all.
EVM compatibility is a HUGE DEAL.
When we talk about EVM compatibility, very few people actually care about HOW the EVM compatibility is achieved. Many chains are taking the shortcut of forking Ethereum. That’s not what we are doing here at Vite. We have decided to go the hard way, but a technically more legitimate way.
Instead of simply forking the EVM, we are modifying the compiler so that Solidity code can be compiled into bytecode that runs on the Vite virtual machine. Right now we already have a test version (v 0.8.0) of Solidity++. Soon that will be deployed on the Vite mainnet.
It is our hope that the next version (v 0.8.1) will achieve our vision fully. If and when that happens, apps written in Solidity can be easily ported to run on Vite. And that means two things:
- All apps on Ethereum can be easily ported to run on Vite.
- We will be able to tap into a much larger network of devs to build on our ecosystem.
Again, it is our vision that this will happen, which we are doing tests for right now.
Vite network’s zero-fee feature really stands out.
To most people I have encountered, a zero-fee chain and our concept of Quota are brand new. And these are all crypto-native folks. This tells me that we have something quite SPECIAL here at Vite and we need to ramp up our efforts to elevate our differentiated approach in the blockchain space. We will be focusing on bringing more awareness of our unique features to the wider audience in the future.
We need a “Killer App” on Vite!
One way to achieve mass adoption of a blockchain project is to have such an app that has low cost, superb user experience and unique usability. To view in this light, our ViteX Exchange is already a killer-app in-the-making.
To trade on ViteX, transactions settle super fast and there is no gas fees (aside from normal platforms fees, as all exchanges charge such). In addition, ViteX is a cross-chain DEX from day one, thanks to our gateways. To my surprise, a lot of the folks I met found ViteX’s gateway/operator model very innovative.
I believe ViteX has huge potential to be our killer app. It is far from being perfect at the moment. But the fact so many found our offering a such differentiated experience proves that we have something truly special in our hands already. The question then becomes how can we improve what we already have. Rest assured that we will be actively improving ViteX, and we welcome your advice, contribution and engagement to make it better.
In the coming weeks and months, there will be more changes and upgrades rolled out in the Vite network. I’m excited as ever about the future of Vite. Keep your eyes peeled. We are innovating on Vite to serve the world’s decentralized economy.
Richard Yan
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