Introduction
What is Velas?
Velas is the world's fastest EVM blockchain and open-source platform for decentralized projects and applications, processing up to 75,000 transactions per second with instant finality, extremely low fees and Solidity support.
Why Velas?
Inspired by the values of Web 3.0 and Blockchain technology, we created Velas, a project that combines Blockchain and innovative technologies to create a transparent, community-driven, and decentralized ecosystem of products and services.
Realizing social needs and aiming to become the industry standard, Velas is designed to be a blockchain platform suitable for thousands of applications and services to be built upon. Therefore, we architect it to be one of the most secure and fastest platforms in the industry.
Our mission is to create and integrate world-changing technology products and services to improve people's lives all over the world and make the internet free again - like it was before. We believe that disruptive technologies and innovations will help us to build a self-governed, decentralized future driven by the collective intelligence of the community.
Each of Velas' services is primarily focused on our users. We are trying to combine the best qualities of both centralized and decentralized solutions. It involves researching state-of-the-art cryptography, developing consensus protocols, and designing intuitive user interfaces providing developers, enterprises, and people worldwide to create and join easily accessible, transparent, and community-governed ecosystems for Web 3.0.
To address the main blockchain trilemma, our technologies are being developed with an emphasis on scalability, security, and decentralization. Currently, Velas Blockchain’s performance is much higher than what can be seen across most of the existing blockchain platforms.
To resolve the scalability issue, we’ve built our solution based on Solana complementing it with additional features and innovations as supporting compatibility with Ethereum Virtual Machine (EVM).
We will expand upon the Solana codebase in order to obtain and leverage one of the fastest blockchain frameworks in the entire crypto industry, far exceeding previous framework speeds and those of competitors. As a result, all Ethereum-based decentralized applications (dApps) and decentralized financial protocols (DeFis) can be seamlessly run on Velas.
What is VLX?
Token Velas (VLX ) is used for transactions, payments, fees and for supporting Proof-of-Stake consensus. Staking allows block producers (validators and their delegators) to provide transaction consensus and receive staking incentives for honest block production.
Disclaimer
All claims, content, designs, algorithms, estimates, roadmaps, specifications, and performance measurements described in this project are done with the author's best effort. It is up to the reader to check and validate their accuracy and truthfulness. Furthermore, nothing in this project constitutes a solicitation for investment.