Since the Vite project was established in June 2018, we have received a ton of support from our community. We are excited to announce that, after going through more than a year of development and testing, Vite Mainnet will launch officially on September 25!
In the past year, Vite teams worked long and hard to build the world’s first public chain that implements smart contracts on DAG (Directed Acyclic Graph) architecture. We were finally able to deliver a completely decentralized high performance application platform, featuring our innovative asynchronous architecture, HDPoS (Hierarchical Delegated Proof of Stake) consensus mechanism, and Snapshot Chain. With these features, we were able to build a platform meets the requirements of industrial applications for high throughput, low latency, high scalability and security.
The launching of Mainnet marks a significant milestone in Vite’s development as it signifies that the Vite public chain will now formally support the functions and expansions of the ecosystem built upon it. We have so far deployed several use cases, such as our Syracuse GovCoin pilot project, a Decentralized Exchange (ViteX), and many DApp games. However, with the launch of our Mainnet, we will be actively engaging and involving more users to help us grow our community-driven decentralized ecosystem.
Global First DAG+DPOS Blockchain with Smart Contract Capability
Vite blockchain utilizes a DAG ledger. This architecture solves for speed and scalability, bringing an effective solution for feeless transactions as each account has its own blockchain and payments are separated into two transactions: sending and receiving. On January 18, 2019, Vite public chain completed hard fork “Smart”, featuring support for the creation and calling of smart contracts. We then became the first DAG+DPOS blockchain in the world that offers smart contracts, making it ever easier for developers to develop DApps on such a platform. The introduction of Snapshot Chain brings additional security for our distributed ledger.
Products and Use Cases
Vite is dedicated to developing the full stack of possible technologies on our pubic-chain. From international payments to decentralized exchange platform to public finance, we have 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
- Link to Wallet https://app.vite.net/
- 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
- Link to Exchange https://vitex.net
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
Milestones for Mainnet Launch
— May 21, 2019 Pre-Mainnet was launched
The Pre-Mainnet is an important milestone that accomplishes functions consistent with both the upcoming Mainnet and objectives outlined in the white paper.
Vite Mainnet is optimized based on this version.
— Sep 11, 2019 Go-vite v2.6.0 was released
Optimized system performance and synchronizing speed, adjusted SBP staking threshold. Staking amount was increased from 500K to 1M VITE for SBPs registered after Sep 11.
Events and Activities
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.
Immediately following the launch of Vite Mainnet, we will start a token swap. Currently existing VITE ERC 20 tokens can be converted into Vite native coins at the rate of 1:1 upon completing a token swap.
Deposit ERC 20 tokens to 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.
Vite native coins can be staked to mine VX on ViteX, or receive rewards by voting for super nodes in Vite wallet.
All VITE ERC20 tokens listed on OKex will be automatically converted to VITE native coins once the Mainnet launches.
Time frame for the token swap is Sept 25, 2019 — Sept 25, 2020
Stay tuned for more updates on Vite Mainnet Launch!