@kerimmmadx i think your phone is not supported for the app, is it?

@Blackey_Vite why the ranking no 1 inviting only 1 but he gets so many VX as income?

Long time no see, but I am still holding (and staking) VITE!

$VITE price seems not much moving (except for the "double kill" before Binance voting), and after the long time holding, I realize there is a way to earn good incentives in return, instead of just wait for 'the moon' or even 'wait for price to be back' at the time you bought the coins; or even sell low. Do other things, STAKE in ViteX!

So, what is stake? What benefit it gives? and what will you lose when stake?

Everything has two sides, let's go into what you gain first then go to drawback later, and make your final decision.

1/ What is stake?

Stake (as mining) is to lock your coins in a Vite smart contract for a period of time, in return, you get income as VX - ViteX coin. https://x.vite.net/trade?symbol=VX_USDT-000

So why lock it? For what?
iteX obtains quota for the transaction process so when staking VITE in ViteX, it means more quota are sent to ViteX, the faster and more maintainable the transaction process is. In Vite, you don't have to pay gas fee for miner but in stead,it costs you quota; quota doesn't have price or can be traded, it's just quota - running in the Vite system.
Locking your coin also in my very self-opinion, will eliminate the selling pressure. But also, accordingly, it leads to the elimination in trading volume since people are tending to get on well with staking

I also wonder if there is no-one stake VITE on ViteX then what will happen? I'd like to hear the voice from Vite team then (but it's weird since it's free money, very good income- VX)

There are several types of stake that makes a newbie, perhaps gets confused. I'll list out the 3 ones now available in Vite system.

• Stake for quota https://vite.wiki/tutorial/rule/quota.html#staking
  Quota can be obtained through staking. The specified recipient account will receive the corresponding quota after the staking transaction is processed successfully.
  -> lock your coins in 3 days, after that you can get it back into Vite balance anytime. Quota is there if you stake, unstake then it will disappear.

• Stake to mine VX (staking as mining) https://vite.wiki/dex/#trading-as-mining
  -> lock your coins in 3 days until you can retrieve them, and 7 days more for waiting time. Sadly this waiting time, no rewards is sent to the one who is leaving the staking system. Is it fair? I am not sure, but if I am the one who is still staking my VITE, I will be sure to earn more than normal a bit, so I think it's win-win situation for the one who stays and the one who leaves.
  Stastics of earning is different day by day when you look at vitex.net, because there are people who leave, who stay, the amount of VX released per day are not the same.
  

Until Mar 2020 when VX daily release reaches 50k and amount of VITE staked is unchanged -> your VX rewards are X5

• Stake VX to earn dividends in BTC, USDT & ETH
  -> lock your VX in a smart contract and in return you earn other currencies as above. 7 days for your coins to be delivered back if you want to withdraw the. These currencies are gained from 1% of total trading pool.

This is the dashboard of today 05 Jan, ViteX is very potential since more trading pairs are listed there, the trading volume is good in general, there are days ViteX got 200 BTC trading value, it's a good sign for a new-born exchange, expecting the more volume ViteX has, the more dividends VX stake-er earns. I am looking forward to it.
unfortunately there is no dashboard to show clearly how many dividends eanred Should we add it on #vite team?

2/ What benefit Staking brings about?

• Economical
  You don't have to run any mining machine like POW coins, no need to be online 24/24 for staking as mining. Just stake and leave your coins there, sounds ideal for me, since I am not free to open any device the whole day.
• Environment protection
  No electricity consumed, no harsh to the world and to your bill
• Security
  Locking coins in smart contract and you can see it in the vitescan link, it's secured more than storing it in any cex (even Binance also got hacked back several months ago, I am in with dex)
• Good incentives
  As above, the income is not bad. Let's do a math.

3/ What I lose when stake?

• Lock your coin in a period of time: the only issue I see when staking is that you really STAKE your coin. It takes 7 days for coins to be delivered once you cancel staking as mining, which means, if $VITE is moving its price and you want to sell for xx% gains, you still have 7 days to play around before the sell. Maybe that 7 days will pass and the pump wave is not there. But who knows? Do your own study and be decisive to join VX price could be up anytime

4/ Potential in the near future

Staking in the ecosystem is being widely used as far as I know. The return of VITE income when Stake as mining is not bad. If you are having Vite, probably you should take a look. I am in for long-term holding. And it's interesting if Vite team can consider about dividing staking periods for users into several types, maybe 3 - 6- 9 days, and different types of rewards for each staking time?

PSA 1: VITE recently was removed from the dividends pool and I feel bad about it. So I just purchased some VITE to vote for a SBP. Imo VITE is still the main coin of the whole ecosystem, so VITE has more potential to be a good bag then any coins issued on Vite chain. ETH gains more benefit and any tokens built on it.

PSA 2: I believe in Vite and what Vite is delivering, support me by clicking upvote, sharing this post, comment below. Your help is appreciated!
See you, till the next time!

@nik12 what partnership are you expecting?

and they are always on Discord to talk with you prefer

They have partnership with Harmony, Ankr. They are developing the most huge dapp called ViteX. Regardless the increase in price Nik

What can Vite blockchain do in a 'Smart city'?

I took a look at Vite.org and saw the potential of Vite Smart city.
Here is my fore-vision

Smart Payments – Of course, because Vite's recent products of wallets are amazing and super fast. Facilitate all municipal payments on a blockchain based solution, including: city programs, assistance, welfare, payroll, etc.

Identity – Vite will be the latest decentralized Identity Management systems use blockchain to provide a secure mechanism for storing and validating user identities, thereby reducing identity thefts and related frauds. And no control your date from the third party, no selling our personal data anymore.

Transportation Management – Use of blockchain to remove the rent-seekers in the ride-sharing economy (Uber, etc.). This enables a truly P2P platform for transportation. And drivers will no longer share the commission for Uber company (as an example)

Smart Energy – Create a more resilient power grid by using a blockchain powered p2p energy market. This removes sent seeking middle men and allows individuals to create, buy, sell, and trade energy while retaining value.

Government Services – Smart contracts can be used for digitizing citizen rights and identification, transparent voting, tax, track ownership of assets, remove paper, and automate bureaucratic processes.

Waste management – Improve efficiencies surrounded the entire waste management process by using IoT sensors and AI prediction modeling.

Right now Vite has partnership with Syracuse - the city of American and I believe these expectation will soon to come true!

What I found:

Vite Labs is working with the City of Syracuse, New York, in order to create a first-of-its-kind municipal token economy called SyraCoin. Our project is a government contract under Startup-In-Residence, which is a federal grant program that matches startups and cities in order to solve social use cases.

The Syracuse Token Economy is a mechanism for cities to raise self-sufficient and self-directed funds for their own programs and infrastructure, without relying on state / federal budgets and availability of nonprofit grants.

Vite Labs' vision is to prove the model in one city, for all cities.

What about your expectation?? Share it here

For the mass adoption, blockchain is being used for a lot of fields, including management, IOT, to economy, smart city and more. In this article, I will not highlight those use cases but some introduced functions of Vite that are displayed in their website vite.org.
This article is from my personal view, I love to hear comments on your side and correct me if I am wrong!

First, let’s take a look at Ecosystem of Value.
I. Payment with the functions of Instant confirmation, On-chain transaction and Multiple Tokens.

1. Instant and feeless confirmation

This graph show how Bitcoin confirmation works. It is likely that more than 60% of your transaction is confirmed within 10 minutes only if you pay a high enough fee. Or else, your transaction will last for years. The same scenario happens for ETH, since you have to pay high gas and gwei, the more you pay, the earlier your transactions get confirmed. In these traditional blockchain setups, the speed of writing transactions into a ledger is limited by the speed of packing.
Thing is different in Vite. Vite allows writing of many transactions into the ledger within the constraints of the TPS. Because the asynchronous setup allows the transactions to happen at an even speed, this reduces the peaks and troughs of the speed of transaction writing, thus optimizing usage of resources and increasing system throughput.
Also, the transactions of two users will no longer be blocked; that is, we will no longer see a scenario where a user sends a large amount of transactions that prevents the transactions of other users from taking place.
The transaction fee was originally set up for system stability and to ensure rational transaction behavior. Vite proposes the concept of trading quota for this purpose. In Vite system there is not necessary to pay fees to send transactions or run smart contracts as long as users have adequate quotas.

You don’t have to pay a cent when transferring tokens in Vite, because you can choose “POW” or “Stake your tokens”, which is called a fee-less quota-based model. PoW serves as system throttling scheme and Vite will support low trading-frequency user to obtain necessary amount of quota by solving a simple PoW puzzle. In other hands, if you are frequency transferees, for example some of SBPs that give away rewards to voters, PoW calculation is not a choice. Instead, you should stake Vite Tokens in exchange of quotas. The more Vite Tokens are staked, the more quotas are obtained, and the more transactions that can be sent and received per unit time.
2. Multiple tokens
When it comes to tokenization concept, it has been heard around for years, however, its momentum over the past years has hit its massive security scope such as Kmart to Neiman Marcus to Dairy Queen.
Tokenization also got a boost when it was adapted by Apple for its ApplePay system, which assigns and encrypts what the company calls a unique "device account number" to your iPhone or Apple Watch so each transaction is authorized with a one-time unique number.
Right now Vite wallet introduces the support of ETH and its tokens. It is a bright sign for the future intergradation for multi-tokens payment. In order to support multiple tokens at the same time, the structure of recording the balance information in Vite’s account state mapping from the token ID to the balance.

II. Token insurance with one-step token insurance and protocol-level of support.

1. Vite supports built-in smart contract token forging. In effect, Vite eliminates the high cost of token issuance on Ethereum. Vite users can issue digital currency with lower cost and safer technology. Therefore, to achieve mass adoption, leading token economies need protocol-native safety nets which protect protocol users and dApp consumers. Should the disaster occur, insurance will compensate your network/users for the losses. There is no hack in Vite. Vite provide the crypto-wallet insurance and smart-contract insurance for users.
2. In addition to native token Vite Coin, Vite also supports users to issue their tokens. The issue of tokens can be done through a special transaction, Mint Transaction. The target address of the mint transaction is 0.
   Once the request is accepted by the network, the Vite included in the mint transaction will be deducted from the initiator account as the mint transaction fee. The system records the information of the new token and assigns a token_id to it. All the balances of the newly generated tokens will be added to the owner address, that is to say, the owner account is the genesis account of the token.

III. Built-in DEX – ViteX
ViteX is developed on the Vite public chain, which features high throughput, fast transaction confirmation, zero fees, cross-chain gateway and more!
The community has 100% autonomy to mint tokens, build cross-chain gateways and create trading pairs. Additionally, ViteX’s order book is fully open via API, which allows others to launch their own exchanges based on liquidity in ViteX.
Since a DEX exists across a network of computers, it becomes much more complicated to attack. There’s no single point of entry or failure. This makes DEXs exponentially more secure. However, it also makes them more difficult to design and test, which is one of the reasons why DEX development has been slow to date.
ViteX is subjected to the performance of Vite’s own main public chain. It is a completely decentralized exchange; the transaction matching engine is performed through smart contracts. Order combinations are all completed on-chain so the order book is also stored on-chain, thus achieving true decentralization. The exchange fee redemption is implemented on-chain through smart contracts, thus ensuring that the results are fully public and dividend rules cannot be tampered with. Furthermore, ViteX also supports cross-chain protocol with the fast-order match mechanism.
In DEX, you have your own control of your fund. DEXs are generally, but not necessarily, non-custodial. As a result, users keep control of their funds throughout the entire transfer process until the moment of exchange, when a smart contract executes the signed trade. No more “funds are safu” messages. “I definitely hope centralized exchanges go burn in hell” — Ethereum founder Vitalik Buterin. That is to say keeping your funds safe is your own responsibility of a DEX.
Trading on a DEX comes with many benefits that make it attractive to crypto currency users. Most importantly, DEXs disinter mediate the exchange ecosystem, removing middlemen and allowing free, direct trade between parties.
Now, let’s sum up this post with a “snapshot”

To be clear, blockchains are not just about the Bitcoin, this technology has a wide variety of uses across several fields of business and Vite is one of the innovative public chains on their way to mass adoption.

Vite – the inspiration for start-up aiming to build a transparent ecosystem based on Blockchain

For the mass adoption, blockchain is being used for everything including management; IOT, to economy, etc. Below are some of the potential applications from Vite blockchain which can be used in real use cases.

First, let’s take a look at Ecosystem of Value.
Payment with the functions of Instant confirmation, On-chain transaction and Multiple Tokens.

1. Instant confirmation

This is how Bitcoin confirmation be like, there is a greater than 60% chance your transaction will be confirmed within 10 minutes if you pay a high enough fee. Or else, your transaction will remain till forever.
The same cases with ETH since you have to pay high gas and gwei for a transaction, the more you pay, the earlier your transactions get confirmed. In these traditional blockchain setup, the speed of writing transactions into a ledger is limited by the speed of packing.
Thing is different in Vite. But Vite allows writing of many transactions into the ledger within the constraints of the TPS. Because the asynchronous setup allows the transactions to happen at an even speed, this reduces the peaks and troughs of the speed of transaction writing, thus optimizing usage of resources and increasing system throughput. Also, the transactions of two users will no longer be blocked; that is, we will no longer see a scenario where a user sends a large amount of transactions that prevents the transactions of other users from taking place.

2. On-chain transaction
On-chain transactions refer to those cryptocurrency transactions which occur on the blockchain - that is, on the records of the blockchain - and remain dependent on the state of the blockchain for their validity.
All such on-chain transactions occur and are considered to be valid only when the blockchain is modified to reflect these transactions on the public ledger records.
It involves the transaction being validated and authenticated by a suitable number of participants, recording of the details of the transaction on the suitable block, and broadcasting of the necessary information to the whole blockchain network, which makes it irreversible.
This kind transaction can be reversed only after a majority of the network's hashing power comes to an agreement.
During the initial phase of a blockchain when the transaction volume is low and the fee is zero/less, on-chain transactions offer instant settlements.
New network protocols and cryptocurrencies that are aimed at keeping the transaction time and fee to minimal, yet providing instant settlement are making their way into the mainstream.
Once verified and confirmed on the blockchain, on-chain transactions cannot be reversed unless the majority of the network’s hashing power agrees to do so, making on-chain transactions more reliable and fraud-resistant.

3. Multiple tokens
The tokenization concept has been around for years. But it's gained momentum over the past year as major retail and restaurant chains—ranging from Kmart to Neiman Marcus to Dairy Queen—have been hit by massive security breaches.
Tokenization also got a boost when it was adapted by Apple for its ApplePay system, which assigns and encrypts what the company calls a unique "device account number" to your iPhone or Apple Watch so each transaction is authorized with a one-time unique number.

In Vite platform, not only tokenization is supported but multi-tokenizations is introduced - Multi-token payment platform, allows a single channel to serve multiple tokens. For instant, channel may dynamically add ERC20 tokens even after the channel is running on the blockchain, including tokens that have not yet been invented. The various tokens in a member’s Multi-token channel are kept distinct. Refunding one token leaves the rest untouched. Right now Vite wallet introduces the support of ETH and its tokens. It is a bright sign for the future interrogation for multi-tokens payment.

 To be continued -