My testnet experience

  • Hi,
    I've been here for quite a while, some know me, some don't. My experience with the testnet is quite impressive. In the beginning i was a bit skeptical because many projects let their community down by not providing the development that they've engaged to do but things changed (for me) when i saw the level of commitment from the VITE team. Until now, VITE has provided everything i've been looking for:

    • very user-friendly web wallet;
    • fast and smooth transactions;
    • good mobile wallet (tbh not the best but it's in early stages);
    • easy to understand block explorer.

    What i've personally wanted to look for (not from vite team) but from SBPs is that a community is being built around them. The things which SwissVite and SnapSecure are doing is something that every SBP should do. They're way of managing things and their work is something that proves (to me) that they have the best intentions to see VITE succeed (kudos to them for their work).
    What i'm quite excited to see are the following things:

    • vite smart contracts;
    • the DEX which in my opinion will be a major factor in VITEs dApp ecosystem.

  • Agree with your review. The most important aspect I am waiting for is the inbuilt DEX.

  • Add the VITE address in your profile to get rewarded! 😄 @super

  • I like what you said about the SBPs and the efforts being made by two of the more visible ones in promoting their nodes and in doing so building communities around themselves and for Vite in general. I think the nature of Vite's DPOS consensus mechanism will naturally cause the largest communities to form around the biggest nodes (i.e. nodes that stand the highest chance of being SBPs). Node owners are incentivized to develop on and promote Vite in order to attract votes and by doing so increase their chances of becoming an SBP (and receiving attractive payouts). At the same time, VITE holders are incentivized to vote for node owners who have the highest chances of becoming SBPs, in order to secure the rewards paid out by SBPs. This creates a virtuous circle effect, where development/promotion attracts votes (and therefore community), which encourages development/promotion, and so on. Once the smart contract and DEX functionalities goes live, I think we will see more node owners actively participating in the development and promotion of the Vite ecosystem in order to encourage holders to vote for them. It is still early days, but Swissvite and Snapsecure are truly setting the pace for the rest of the node owners to follow.

  • @super said in My testnet experience:

    the DEX which in my opinion will be a major factor in VITEs dApp ecosystem

    Yup. DEX will be a game changer and will help tremendously in expanding the VITE dAPP ecosystem.

  • I am specially looking forward to the DEX. The DEXs that we have today are just not upto the mark. Idex has minimum trades of 0.15 eth, and Forkdelta is long dead. Hope to see one proper DEX this year 🙂

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