Velas || A New Fast And Secure AI-Powered Blockchain
Velas which can also be described as a “virtual expanding learning autonomous system” was created to solve those problems which can not be done with other crypto ecosystems like bitcoin. Some problems like scalability, privacy, etc still there when day by day blockchain technology system improved so much. This ecosystem can process a huge amount of transactions without losing its security with its AI(Artificial Intuition) Operated delegated POS blockchain system.
Velas Blockchain
Velas is an AI(Artificial Intuition) powered highly scalable transaction and with its smart contract system. It can learn by itself and manage its blockchain platform with the highest security possible. Velas uses AI-powered Delegated Proof of Stake blockchain platform which removes the possibilities of corruptible human dependencies.
It uses a neural network that is used to calculate the rewards for operators of nodes and block formation. By using A genetic algorithm in the pre-training period and also by using the method of backpropagation of error that can find out a minimum of the objective function it became a high tech neural network blockchain system. Vela’s blockchain network can cover 30,000 Tx per second when other major blockchain networks like Bitcoin can do 7 Tx/Sec and Ethereum network can do 15 Tx/Sec. This will prevent any 51% attack in the future.
Privacy
Privacy became one of the major issues in blockchain when many people use crypto to transfer a large amount of money and also concern about their privacy. There are many wallets that collect user personal data when Velas is offering a multi-wallet that can support All the major cryptocurrency and they also ensure the privacy of user data. They do not collect User personal data like other crypto wallets.
They have a different version of the wallet for every type of user. Velas desktop wallet is similar to other decentralized wallet and uses the feature of seed phrase system which increase its security and hand over the control to its users. They also have a mobile version and WEB version.
Different kinds of cryptocurrencies like Bitcoin, Litecoin, Ethereum, DASH, XRM can be used in that multi-wallet.
What is Velas AI
Velas AI is not mean to Velas Artificial Intelligence it refers to an artificial Intuition that can also be described as a series of algorithms that can identify relationships in a bunch of data. Their neural network that is very adaptable can create the best result without any negative consequences.
AI will be based on a linear regression model that is trained by stochastic methods. Because of the adaptation in a very complex situation with a large volume of data that’s why AI-based genetic algorithms are used because of its efficiency of handling a large volume of data than other standard neural networks.
Token Information
VLX token can be used in two main ways one is for nodes election other is staking. Velas staking program will enable network participants for using Velas token for staking so that it can be used for the block production process.
Velas AI will be used for block reward allocation. Currently, it’s paying out higher reward than what EOS dose which is 8%. For operating a complete masternode participants need to have a minimum of one million VLX tokens which is estimated in current VLX market rate 30,000$. Also, they need a high GPU power for getting a reward.
- Token name: VLX
- Total Supply: 2,073,891,831 VLX
- Current price: 0.039$
- CMC Rank: 233
Conclusion
it’s true that the blockchain field became oversaturated and there is plenty of reasons behind choosing velas. This system can be a major shield from any kind of danger in that blockchain. With its multi-wallet system, Velas can be a good alternative to Bitcoin and Ethereum when it offers some tech that is better than both of them.
Accurate Information
- Website: https://velas.com/
- White Paper: https://velas.com/VELAS-Technical_Paper.pdf
- Twitter: https://www.twitter.com/VelasBlockchain/
- Telegram: https://t.me/velascommunity
- Facebook: https://www.facebook.com/velasblockchain/
- Instagram: https://www.instagram.com/velas.blockchain/
- Medium: https://medium.com/@VelasBlockchain
- Linkedin: https://www.linkedin.com/organization/velas-ag
- Github: https://github.com/velas
- Discord: https://discord.gg/CTcKpPc
Author
- Bitcointalk Username : Ris88
- Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=742331
- Velas Wallet Address : VLLmpzT6XLaaazVdrm2qw6UxpvaGyAQPQXV