Vite 102: Calling Devs to BUIDL and Decentralize 😎
Why use Vite and what do you get out of it?
Glad to see many new faces joining the #ViteFleet!
Here’s some info about the Vite project, which is so much more than just an L1 (layer one) and decentralized exchange (DEX) ✨ We will go a bit deeper — a Vite 102, if you will 🚀
Vite is a zero-gas L1 which means you don’t pay gas fees when transacting on the network. Instead of gas fees, we use something called a quota model or token-locking model. Essentially, users lock a certain amount of VITE to get transaction quota. The more VITE you lock, the more throughput you get (which improves the speed of transactions).
If you lock zero VITE, you can still make transactions by completing a proof-of-work (POW) computation (think of it as a speed bump) but the amount of transactions-per-second (TPS) allotted to you will be low. So if you are looking to make quick transactions on the DEX or sniping at a token sale, you will probably have to lock VITE for quota.
Transactions on Vite are very fast because we use a Directed Acyclic Graph (DAG) ledger and a delegated-proof-of-stake (DPOS) consensus algorithm. The ecosystem of applications (Dapps) on Vite has been growing. These projects bring users and assets to the Vite chain. We now have:
- DeFi: ViteX, Viva Staking, ViteTogether
- NFT: VitePunk, 51 Aliens
- DAO: Vita Inu, Vitamin Coin, ViCat
- Tools including wallets and explorers: Viterium, Volt Wallet, Vitescan, Vitcscan
Check out many more here: https://vite.org/ecosystem
ViteX is Vite’s flagship use case and it will be the main focus of development. What makes ViteX special is that it’s an order-book cross-chain DEX. ViteX is the native source of liquidity for Vite-based projects. On ViteX, you can:
- Earn VX via trading and placing limit orders
- Receive rewards by staking your VX
Find more information here: https://twitter.com/ViteXExchange/status/1203468831961673728
Because ViteX is a DEX, anyone can list a Vite-based token there. For trading tokens that aren’t native to Vite (e.g. cross-chain tokens like SOL or MATIC), anyone can apply to become a cross-chain gateway. We have many community gateways and we’d love to see more!
The Vite network is secured by Snapshot Block Producers (SBPs), which are essentially validators. They get voted in by the community. The higher the votes, the more rewards an SBP obtains. You can run an SBP by staking one million VITE and earn block rewards.
How to become an SBP: https://medium.com/vitelabs/supernode-101-earn-vite-rewards-daily-a47027401cab
List of Vite SBPs: https://vitcscan.thomiz.dev/sbps
Thanks for joining the #ViteFleet! Looking forward to building something great with you all.
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
- Chinese: https://t.me/vite_zh
- Russian: https://t.me/vite_russian
- Japanese: https://t.me/vite_japanese
- Vietnamese: https://t.me/vite_vietnamese
- Arabic: https://t.me/vite_arabic
- German: https://t.me/vite_german
- Turkish: https://t.me/vite_turkish
- Filipino: https://t.me/vite_filipino
- Spanish: https://t.me/vitespanish
- Indian: https://t.me/Vite_India
Korean Kakao Community: https://open.kakao.com/o/gWp9av5c
Reddit: https://www.reddit.com/r/vitelabs/
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en
