Vite Labs, creators of a high performance asynchronous decentralized application platform, announced this week that its mainnet will officially launch on September 25th.
Vite utilizes a DAG ledger, this architecture is built for speed and scalability. It brings an effective solution for feeless transactions as each account has its own blockchain and payments are separated into two transactions: sending and receiving.
Moreover, back on January 18, 2019, the Vite public chain completed hard fork “Smart” which enables support for the creation and calling of smart contracts.
Products and Use Cases
Vite is dedicated to developing the full stack of possible technologies on its public-chain. From international payments to an decentralized exchange platform to public finance, the team has built an ecosystem of products that is not only capable of driving a circulating payment system, but also proven to be practical for real-world uses.
Multi-chain mobile wallet
- One wallet to manage multiple assets
- Secure, stable & open-source
- Endorsed by BTC.com, Luxor, F2Pool & more
Decentralized exchange (DEX)
- Secure asset management and identity protection, KYC resistant
- Transaction processing and on-chain order-book matching in seconds
- Cross-chain support for any coins
- Community-driven coin listing
- Decentralized governance model
- Mining of native coin VX available in 5 methods
VitePay & ViteStore
Payment platform and storefront
- Confirmations within seconds
- Zero transaction fees
- Support for stablecoin and Vite community points VCP payments
- Ensure user privacy
DApp for cities
- Contracted by the city of Syracuse
- Public-sector application powered by Vite
- City token to encourage peer- to-peer donation
- Blockchain-enforced transparency of donation pool
Following the launch of the Vite mainnet, a token swap will commence. Currently, existing VITE ERC 20 tokens can be converted into Vite native coins at the rate of 1:1 upon completing a token swap.
To swap, deposit ERC 20 tokens on the Vite wallet and click “convert” to complete the process. Since the Ethereum public chain charges for withdrawals, a small amount of ETH needs to be transferred to Vite wallet to initiate the deposit.
“After mainnet goes live, we will launch a Vite Public Chain Bug Bounty campaign to verify and ensure the safeness and stability of our technologies. Developers from all around the world will be invited to evaluate the security performance of Vite Public Chain, and whoever discovers a bug will be rewarded. Here at Vite, we strive to continue making breakthroughs and bringing innovations in blockchain technology. In the future, we will form a tech community that regularly holds technology sharing events such as Hackathons, and invite global blockchain developers to witness the development of the blockchain industry.”
– The Vite Team