You can now trade Vite on Bittrex!
The Vite market is open, and trading will begin shortly on https://international.bittrex.com/
EOS is a top 10 coin. NEO is top 20. Expecting those kinds of returns from these two is a little out there.
VITE and FANTOM are similar in the sense that they are going for the same thing but I believe VITE is doing it the right way. Focusing on the Product more than the hype. The upside to investing in VITE is huge while the risk is as minimal as it can be in crypto (at current prices).
But in the end, the decision is yours.
@fonzie do yoi think focusing on Hype is also a way to make the retail holders of Vite increase? *open to discussion
That works in a Bull run whern almost every project gets hyped up endlessly. We're in a bear market and the only projects that will survive this are those that work on their product and deliver. Hype does not work in a bear.
Let the product speak for itself now, the hype will come later.
This is actually a good suggestion. Though for the initiation, you can check the request transaction to check when it was initiated (using the request transaction hash).
Another related thing that I saw was that if I am in the block explorer and looking at older transactions, it doesn't show the exact time stamp but its age (4 hours or 5 days etc). Maybe it will be useful to show the exact timestamps on when the request was initiated and when the response was initiated.
Quota: You do not receive your vite coins until you open your wallet.
I asked about this in Discord and as plasmo explained, this is how DAG works.
"Transferring funds from one account to another requires two transactions: a send deducting the amount from the sender’s balance and a receive adding the amount to the receiving account’s balance" - This is from Nano's WP which is the base for Vite.
The login to your wallet will initiate the receive trx.
The centralization debate on DPoS never stops. As an example, in EOS there are 21 block producers who are responsible for handling transactions or executing smart contracts, then pack results in blocks. In this process, which transactions will be handled and when to be handled relies on block producers completely. Corrupted block producers may collude by returning incorrect execution result on purpose, leading to possible corruption/centralization through a controlling group, cartel, or some whales.
Let’s take a look at the consensus algorithm in Vite first.
Vite’s consensus is HDPoS(Hierarchical Delegated Proof of Stake). In general, it is like a multi-group DPoS algorithm where each group represents an independent DPoS consensus implementation. In Vite system, there are multiple private consensus groups, multiple delegated consensus groups and a snapshot consensus group. Each private consensus group is responsible for the consensus on a specific account chain. Delegated consensus groups handle consensus on smart contracts and logical consortium chains. The consensus reached in private consensus groups and delegated consensus groups should yield to the consensus of snapshot consensus group, which is in charge of the consensus of the entire network. Compared with original DPoS, this algorithm has advantage of flexibility, adaptability and, in essence, better performance.
Now let us move back to the corruption/centralization topic.
In Vite, things are different. Firstly, Vite has 25 SBPs(Snapshot Block Producer) which are merely responsible for creating snapshots of Vite network state at the moment. They neither perform transactions nor execute smart contracts, but just simply snapshot the ledger and broadcast results as consensus. Transactions in Vite will only be processed and packed in blocks by account owners. Similarly, the code in smart contracts will only be executed by a group of elected nodes in delegated consensus group respectively.
Moreover, each smart contract can designate its own delegated consensus group, and each group can register its own delegated nodes. All delegated nodes will be elected in public according to the election rules defined in each group. The number of delegated nodes in each consensus group can be specifically defined by group owner when created. Also, the number of consensus groups in the network is unlimited. Therefore, in theory the more consensus groups are in the network, the more decentralized the entire network is.
The issue of corruption/centralization in DPoS may continue to exist. However, it could be mitigated in practice by advanced developed algorithms. HDPoS is one of the solution.
Written by : Allen Liu
Supernode | Snapshot Block Producer | Community Builder
In an effort to educate our community and newcomers about the Supernode and Snapshot Block Producer (SBP) program, Vite Labs wants to shine this week’s SBP spotlight onto Tenzor Capital. Our conversation with this all-star Russian team reflects the global nature of the Vite brand. It is our goal to inspire Vite enthusiasts to follow in the footsteps of teams like Tenzor, and continue expanding our SBP program on a global scale.
Tenzor Capital is led by founder, Kirill Medvedev, and senior analysts, Daniil Ogurtsov and Maksim Mizerov. The Moscow-based team runs a venture capital fund with a focus on blockchain technology. In their search for promising investment projects, Tenzor discovered Vite Labs.
In the words of Daniil, “Vite is both a sound token economic system and a good investment opportunity. There is incentive for both of our teams to deliver the best, thus bridging the gap between differences in our localities and languages.”
(left to right) Kirill Medvedev, Daniil Ogurtsov, Maksim Mizerov
From introducing Vite technology to university academia to publishing reviews of our token on their very own ICO listing platform, Tenzor has much to offer our community. Some ideas the team has for the future of the SBP program include expanding Vite’s presence in the Russia media and at local community events.
We look forward to making these action-oriented propositions a reality in the Vite ecosystem. With global alliances in mind, we hope to see more friends from abroad hold presence for Vite in their own localities.
If you identify as one of the profiles below, contact Luke Kim, our Chief Marketing Officer. We would love to hear your story and jam out on ways to collaborate! If you are a:
We can support you in running community campaigns (e.g. subsidizing your token awards), in getting press and in organizing local events (e.g. hackathons and educational workshops).
We will be highlighting various SBP’s and community leaders in the future. Stay tuned!
Is the compaign for sharing Vite Testnet Experience still on? Can't find the topic anywhere.
The Vite testnet experience campaign is still on. You can refer the following for more details:
Today, I received about half of the total daily full node rewards I am eligible for (running multiple nodes). I used the below URL to query the cycle rewards: https://reward.vite.net/api/reward/full/query?address=vite_xxxxxxxxxxxxx
In the results, I see something like "undistributedReward":"40.763415232793208590"
Can someone from the dev team explain what this is? Why are some rewards undistributed?
@SwissVite The whole set of events clearly point to total incompetence on the part of the exchange. Even if it wasn't a straight up exit scam, it was the worst way to handle the supposed "hack".
@Umcka Hmm. I am still not convinced its something to do with the version.
Anyway, let's wait for the official word on this.