Vite

What is Vite?

Vite stands as a next-generation Reactive Blockchain, introducing a message-driven, asynchronous architecture coupled with a DAG-based ledger system. The primary objective behind Vite's conception is to establish a dependable public platform tailored for industrial dApps, distinguished by its ultra-high throughput and scalability features.

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Recent Video Interview

Main points of the interview:

• Vite's zero-fee Layer 1 blockchain with smart contracts.
• Vite features an order book decentralized exchange, contrasting with market order-based DEXs like Uniswap.
• Unique zero-fee model involves locking VITE tokens, utilizing DAG ledger for scalability, and delegated proof of stake.
• Vite's ecosystem includes a community-built NFT platform, wallet, and staking protocol, with a push towards EVM compatibility.

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Innovation

The hallmark of Vite lies in its asynchronous architecture, marking a significant departure from traditional blockchain frameworks. This innovation is characterized by various asynchronous models embedded within Vite's design:

• Asynchronous model of requests and responses
• Asynchronous model of writing and confirmation of transactions
• Asynchronous model of communications between contracts

Feature

Vite's architecture harnesses a DAG ledger structure named block-lattice, offering superior performance compared to conventional blockchain frameworks. To counterbalance the inherent security shortcomings of the DAG structure, Vite integrates Snapshot Chain technology. Additionally, Vite employs the HDPoS consensus algorithm, boasting low latency and high scalability. Moreover, to ensure seamless integration with the existing ecosystem, Vite's virtual machine prioritizes maximum compatibility with EVM while introducing a more potent smart contract language dubbed Solidity++.

Furthermore, Vite's original quota-based resource model and resource-leasing function guarantee optimal allocation of system resources. This model caters to both heavy and lightweight users, ensuring sufficient quotas for the former while eliminating commissions for the latter. Vite's comprehensive design extends to token issuance, exchange via the loopring protocol, and cross-chain protocol, culminating in a closed-loop value system facilitating convenient issuance, storage, and exchange of digital assets within the Vite ecosystem.

The Model of Asynchronous Requests

Vite's transaction processing is delineated into request transactions and response transactions, enhancing system throughput by minimizing interference among transactions. Each transaction operates within the scope of a single account, further amplifying scalability by distributing transactions across different network nodes.

The Model of Asynchronous Confirmation

In Vite's framework, transaction writing and confirmation processes operate asynchronously, enabling parallel transaction processing and constant snapshotting. As snapshots of transactions increase, so do confirmations, optimizing resource utilization by mitigating fluctuations in transaction writing speed.

The Model of Asynchronous Communication

Vite's inter-contract communications embody a message-driven architecture, facilitating message exchange between contracts without shared states. Transactions between contracts adhere to a request-response paradigm, ensuring precise communication and enabling exactly-once semantics of messages within the ledger.

ViteX

ViteX is a pioneering decentralized exchange (DEX) renowned for its high-performance order-book system. Built on DAG (Directed Acyclic Graph) technology, it stands as the world's premier cross-chain DEX, ensuring swift, secure, and seamless trading experiences without gas fees. Users can trade effortlessly and earn VX, the platform token, simultaneously. VX stakers enjoy the privilege of sharing 100% of the trading fees accumulated on the platform. With ViteX, listing trading pairs requires no permissions, and KYC procedures are unnecessary, safeguarding users' privacy and autonomy.

Project Development

In the first half of 2024, Vite plans to introduce stake products to reduce token circulation and integrate VITE Passport into the web wallet. The iOS and Android apps will undergo rebranding, and ERC20 & BEP20 VITE brands will be updated. Furthermore, a new SBP Incentive Program will be launched alongside ViteX gateway migration to community gateways. The ecosystem program will incentivize community projects, and VITE DAO's second stage will commence. A hackathon season aimed at inspiring community developers will take place, alongside new exchange listings and the release of VITE Connect SDK for building dApps or wallets.

In the second half, Vite Passport will be rebranded, leading up to the mainnet upgrade named "Neptune." Additionally, upgrades to the app and web wallet will accompany the mainnet upgrade, with separate services for the web wallet and ViteX. Other developments include the establishment of a DAO treasury, Solidity++ VSCode Extension, Vite Bridge DAO, VITE wallet revision 5.0.0, and partnerships.

Vite Price Analysis

As of November 25 2024 Vite has a marketcap of $15M. This is {{percentagefromath}} from its all time high of $0.345255. In terms of its tokenomics, there's a total supply of 1.1B with 100% currently outstanding. Keep in mind Vite has a fully diluted value of $15M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.