Scalability is perhaps one of the major concerns the cryptocurrency industry is trying to address these days. Unless you are not one of the top hundred cryptocurrencies with a well established community, it’s going to be difficult for your project to survive the competition. The industry is fast-paced and constantly innovating, to make a name for oneself, a project must stand apart and deliver results.
One such project working to facilitate seamless transactions and super fast speeds is Vite. Vite is defined as a smart contract platform built on Directed Acyclic Graphs (DAGs) with a Snapshot Chain structure that enables zero-fee transactions while also maximizing transaction speed, dependability, and security. Vite Snapshot Chain achieves network consensus using Hierarchical Delegated Proof of Stake (HDPoS), with super nodes receiving just staking rewards and no transaction fees. The Vite virtual machine is EVM-compatible and employs the asynchronous smart contract language Solidity++.
VITE (VITE) is a mineable cryptocurrency that was established as the Vite platform’s native token. The VITE token is the currency that allows users to perform basic token transactions and smart contracts on the Vite network by paying VITE for the transaction quota rather than spending gas. VITE may be used to vote for Snapshot Block Producers as well. Furthermore, a VITE staker with unused transaction capacity can lease it to dApps in return for tokens.
Real-life use cases?
A blockchain project is only as popular as its most popular use case, and Vite offers many. Vite’s current products include a decentralized exchange (ViteX), payments (VitePay), and government & enterprise blockchain applications (VitePlus).
ViteX is a decentralised exchange that presently handles 20+ digital currencies and has an on-chain order book and matching engine.
VitePay is a quick and free payment option that is presently accessible at Singapore’s Ce La Vi Sky Bar and cab services operated by the Midwest Global network. Users may use Vite wallet to pay merchants, who will get money with no fees and near immediate settlement. VitePay is also compatible with the e-commerce platform OpenCart, and it may be used in the official Vite shop.
VitePlus is a government and corporate blockchain solution built on Vite. Vite has created SyraCoin, a prototype programme for the Syracuse government that allows municipal housing fund donors to obtain blockchain-based vouchers valid for products and services inside city limits.
- Global Market Cap (at presstime): $40,611,790 USD
- Global Trading Volume (at presstime): $8,179,321 USD
- Circulating Supply: 488,731,848.90 VITE
- Total Supply: 1,021,302,959 VITE
Where can I buy VITE?
With several use cases, VITE is gaining traction among the global cryptocurrency community and Indian crypto enthusiasts don’t have to missout, thanks to crypto exchange WazirX.
VITE has now been listed on WazirX as a part of the company’s rapid listing initiative. Users can now Trade VITE on both INR and USDT pairing. Right now it is only possible to deposit VITE from Binance, but complete deposits and withdrawals are expected to start in the near future.
Meanwhile, WazirX continues to surprise its users with another giveaway and this time it’s VITE for the taking. The giveaway will be held across their social media channels and everyone can participate. Here’s the full schedule:
Users can participate in a live interview of Richard Yan, by Archit Sinha to learn everything about VITE tokenomics.
When: Friday, 17th September, 6:30 PM IST
Users can participate in a live AMA with Richard Yan, chief operations officer at VITE, to learn everything about the project.
When: Monday, 20th September, 6:30 PM IST
How to participate?
Part 1: We will ask 10 questions (crowdsourced from our Twitter followers) about VITE to Richard.
Part 2: At the end, we will unmute the group for 5 minutes where you can ask your questions live to him. He will try to answer as many questions as he can.
$150 for the top 10 questions selected from Twitter
$100 for top 5 live questions from Telegram group
Users also have the opportunity to participate in the VITE trivia contest!
When: Tuesday, 21st September, 12 PM IST
How to participate?
- Follow WazirX on Instagram: instagram.com/wazirx
- WazirX will share 5 questions on Instagram Story
- 5 lucky winners will win each $10 worth VITE.
The platform is also hosting a VITE Quiz where you can win some free VITE with your right answers.
When: Tuesday, 21st September, 6 PM IST
Below are some reading resources recommended by WazirX to upgrade your VITE knowledge.
How to participate?
Users will have to join the WazirX Telegram group: t.me/wazirx_discuss
There will be a total of 10 questions and the winners will be chosen based on the number of correct answers.
The rewards for the contest are mentioned below:
1st prize: $100
2nd – 5th prize: $50 each
6th – 10th prize: $20 each
11th – 20th prize: $10 each
The fun doesn’t stop here, the exchange is also hosting its very popular ‘Highest Trader Kaun Marathon’ and this time it’s for VITE/INR. WazirX users will be able to participate in a non-stop 48-hour long trading contest with additional prizes.
How to participate?
The trading contest will start from 24th September, 9 AM IST onwards and will last until 26th September, 9 AM IST. WazirX customers can participate in the contest any time between Friday and Sunday. There is a total prize pool of a whopping ₹15,48,300 (~$20,000) worth VITE! Users will get the chance to win prizes based on their trading performance for the entire 48-hours.
However, it must be noted that the exchange will be considering VITE price at $0.0813, i.e., ₹6.29 for the entire giveaway and all prizes will be sent out by 10th October 2021.
#bitcoin #wazirxwarriors #cryptocurrency #VITE