We researched Vite coin, which outperforms PoW and PoS with its innovative system. In this article, what is Vite coin for you? We will try to answer the question.
Vite is a Directed Acyclic Graph based smart contract platform with Snapshot Chain structure to facilitate transactions and optimize transaction speed, reliability and security, adopting zero transaction fee principle. Snapshot Chain uses the Hierarchical Delegated Proof of Stake (HDPoS) method to ensure network security. This is different from the Proof of Stake and Proof of Work systems we are familiar with. On the Vite platform, network validators (nodes) only receive staking rewards and no transaction fees. ViteX is an exchange based in the British Virgin Islands. Daily trading volume based on CoinMarketCap data $68,440 so about 3 Bitcoins (BTC).
VITE coin is an altcoin issued for use in smart contract applications on the Vite network, where users stake VITE for transaction quota instead of paying transaction fees. VITE can also be used to vote for Snapshot Block Producers. Additionally, a VITE staker with unused transaction quota can lease this quota in exchange for coins. For example, users can stake VITE in exchange for ViteX’s native decentralized coin VX. VX, on the other hand, is the local currency issued by the ViteX exchange for use in trading and exchange transactions, but unlike VITE, it cannot be staked.
How Does VITE Coin Work?
VITE coin has 2 uses. The first is to stake to earn trading quota on the ViteX exchange, and the second is to trade or exchange for commercial purposes. Coin was created directly for smart contracts. It works with a Hierarchical Delegated Proof of Stake (HDPoS) system and transaction fees can be kept low as network validators only charge staking fees.
When is VITE Coin Release Date?
The Vite Coin project started its activities in 2018. The goal of the Vite team was to create a system that could unify all blockchains in order to unify the ecosystem that has become disconnected due to fragmented blockchains. The network, which has been developing since 2019, when the Vite mainnet started its operations, also hosts a large number of node supporters.
What Is the Future of VITE Coin?
Vite has a wide range of products. Available products include a decentralized exchange (ViteX), a multi-purpose wallet app (Vite App), payment app (VitePay), and government/enterprise blockchain apps (VitePlus).
ViteX is a decentralized exchange with an on-chain order book and matching engine and currently supports over 40 digital assets.
Vite App is a mobile application that allows trading (ViteX), wealth management (ViteWallet) and dapps to be done in one place.
VitePay, on the other hand, is a fast, inexpensive and secure payment tool currently available at Singapore’s Ce La Vi Sky Bar and taxi services under the Midwest Global network.
The Vite platform is rapidly moving beyond virtual boundaries to establish itself as a payment method and financial services provider in the real world. In the context of high transaction speed, zero transaction fees and innovative solutions on transaction and payment security, VITE coin may be positioned as a fiat currency or commodity in the future.
Where to Buy VITE?
You can buy VITE from major exchanges like OKEx and Bittrex or Binance. 20% off You can get it by clicking Get Vite Coins. To mine VITE, on the Vite network, you can run your computer as a Snapshot Block Producer and receive block rewards in the form of an annual inflation of 30 million VITE coins, or you can run it as a node and collect VITE rewards from the Vite organization.
VITE Coin Review
The price of VITE coin on July 26, 2022 at 16:30 was $0.0319. The 24-hour trading volume is around $3.58 million. Having dropped 9.52% in the last 24 hours, VITE coin is trading 44.57% above its all-time low. Also, VITE is trading at 92.28% below its all-time high.
When we look at the Vite coin chart data in the 4-hour period, we can see that the rising trend continues, but is in a retracement phase. If the falling price encounters strong demand at the 0.0258 – 0.0247 level, it can take a gear coin pump. On the other hand, it is possible that the upward movement will receive a reaction from the supply region at 0.0320 – 0.0350 levels. In particular, the 0.0320 and 0.0310 sinks are tested resistance zones, reinforcing the notion that the next retracement of VITE will begin at these levels. In order to interpret the continuation of the uptrend in the medium term, we need to wait for a close above the last peak of 0.0400. If the downtrend continues, we can interpret that a downtrend has started with the breaking of the trend line and crossing the 0.0247 level. The situation where one of the trend line or demand zone is crossed can be attributed to a consolidation.