The Basics of Vite and VITE
Easy guide for beginners
This article serves to educate newcomers to the Vite ecosystem and update community members at a high level. First, let’s cover some basics. Vite Labs is the genesis team and development group behind Vite (the blockchain/network/protocol/layer-one L1) and ViteX — the decentralized exchange (DEX). ViteX is undergoing progressive decentralization into a decentralized autonomous organization (DAO). In terms of crypto, VITE is the token of Vite and VX is the token of ViteX.
Vite
Vite is an L1 blockchain. It powers cryptos, smart contracts, and decentralized applications (dApp). In simpler terms, Vite is one way to create cool and useful things in web3. Vite optimizes for speed and low cost of both computing and transacting.
VITE
The usefulness of VITE is summarized below.
1- VITE can be used to make fast and fee-less payments on the Vite network.
2- Developers can use VITE to create and run dApps and DAOs.
3- VITE holders can stake their tokens to earn rewards and support the network’s security.
4- VITE holders can vote on proposals to govern the direction of the Vite network.
5- VITE holders can lock assets to run full nodes.
6- VITE holders can lock assets to become Snapshot Block Producers (SBP).
7- VITE holders can power ViteX with quota and earn VX.
8- VITE holders can pay smart contract deployment fees.
9- VITE holders can pay listing fees for ViteX.
10- VITE holders can pay issuance fees for new tokens.
This is an educational article only.
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
- English: https://t.me/vite_en
- Russian: https://t.me/vite_russian
- Arabic: https://t.me/vite_arabic
- Spanish: https://t.me/VITE_Spain
- Indian: https://t.me/VITE_India
- Vite announcement: https://t.me/vite_ann
- Korean Kakao Community: https://open.kakao.com/o/gWp9av5c
- Reddit: https://www.reddit.com/r/vitelabs/
- Discord: https://discordapp.com/invite/CsVY76q
- YouTube: https://www.youtube.com/c/vitelabsofficialchannel
