Hard-work pays off!
ViteX is exploring the possibility of adding stablecoin trading pairs with low or zero trading fees. This will make it easy for our users to convert between stablecoins, which is a growing demand.
Help us understand your needs by completing this survey here (https://docs.google.com/forms/d/e/1FAIpQLSfrUfx_oKjJktQ93M4_yu5fesPmToADtO0kBJw0ONucdpUgcg/viewform)!
@blaup 1. for new users, they can claim 10 VITE daily for 14 times if they bind the Twitter, which means they will have enough 134 VITE for stake once 14 times comes.
2. for staking, it's not a joke, we really want beside the airdrop you gain, you learn about VITE. Good for both users and Vite.
3. Referral program is not yet activated. Kindly stayed tuned for further notice.
4. Both new and old user have chance to join Vite airdrop lottery, which is rarely, you win lottery means you are lucky, if not, let's enjoy what you gain. Good luck!
Strategic partnerships
On May 7, Vite Labs announced a strategic partnership with KardiaChain. Both parties will jointly explore payment solutions and develop infrastructure for blockchain interoperability. KardiaChain is in partnership with a top telecom company in Vietnam with 60 million users, and it aims to establish Vietnam’s first mobile payment gateway. Vite’s collaboration with KardiaChain will provide more opportunity to expand Vite’s crypto payment network in Vietnam and Southeast Asia.
ViteX Exchange
On April 30, ViteX released DEX API. Users can apply for API Keys on the ViteX website. The launch of the API will further expand the ViteX trading ecosystem, help attract quant traders, and improve liquidity for the exchange.
On May 8, KardiaChain coin(KAI) was listed on ViteX via Vite Labs gateway. On May 9, KAI / ETH trading pair was opened, enabling market-making as mining.
Users with more than 10 VX in the Vite app received an airdrop of 1,250,000 KAI. This is the first time we rewarded VX users with airdrops, and we received positive feedback. In the future, we plan to run similar campaigns, iterate on best practices for airdrop rules, and coordinate with projects to increase airdrop amounts. We hope these measures will continue to raise VX’s intrinsic value.
Technology Series
On May 6, we published the technical article “The Design and Implementation of ViteX Contracts”, which briefly explained the smart contracts used within ViteX.
Community AMA
On May 9th, KardiaChain ran an AMA in Vite telegram group and rewarded 150,000 KAI to the community.
Vite Official Website
We ran a community vote on the new design of vite.org. The result will be published soon. Thanks all for participating!
Vite Mainnet
On May 27, Vite network will have the fourth hard fork named MARS. The main purpose of this hard fork is to upgrade the built-in contract of ViteX. Details: https://forum.vite.net/topic/3848/important-vite-mainnet-4th-hard-fork
Data on ViteX
As of May 15, 16,740,658 VITE have been burned, accounting for 1.67% of total issuance.
137,756,367 VITE are staked on ViteX exchange, accounting for 13.78% of total issuance.
6,377,320 VX has been released, of which 5,957,905 VX is being staked for dividends.
To-date, 49.5 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 30.3 BTC.
Vite Wallet
Vite Wallet 3.6.0 (iOS and Android) has been formally released. This version re-writes the built-in ViteX exchange in native code so as to significantly optimize the trading experience. In addition, Vite Connect, which is relied upon when generating ViteX API Key, was also upgraded. Users can self-generate API Key on the ViteX website by scanning the QR code in Vite Wallet.
After the 3.6.0 version was released, we received many valuable feedback from the community. The feedback has been well collected, and will be prioritized and incorporated in subsequent versions.
On May 11, we released Vite Wallet 3.6.1 (iOS), solving the problem that some ERC20 token transfers may fail due to gas limit, as well as under certain circumstances the built-in ViteX page may be stuck.
On May 14, we submitted Vite Wallet 3.6.1 (Android) to Google Play for review. This version fixes the occasional app stuck problem when switching addresses, and the problem that exchange-related message may wrongly appear on non-exchange pages.
We also started the development of V3.7.0. In this version, we will continue to add new features to the exchange and reduce the size of the app package for faster download.
Starting from V3.6.0, we changed the app name from Vite Wallet to Vite, meaning that the positioning of Vite wallet has changed from a single-purpose wallet to a full-stack wallet + exchange decentralized crypto asset management tool.
ViteX Exchange
ViteX API has been formally released. In the past two weeks, we have made additional optimizations, such as checking the minimum order amount and available balance to avoid invalid transactions and standardizing error code and message returns.
We are in the process of integrating ViteX API with CCXT. CCXT (https://github.com/ccxt/ccxt) is an open-source cryptocurrency exchange API adapter library that currently supports 120 exchanges. Through CCXT, users can ignore the differences in API interfaces of different exchanges and simplify the development of trading bots. At present, there are many quantitative trading programs that use the CCXT library to access different exchanges. After our integration, these existing programs will be directly accessible on ViteX.
In addition, the upgrade of ViteX built-in contract is finished. A new hard fork has been scheduled on May 27, which includes optimizing order cancellation logic, unifying the logic of order flows by raw signatures and delegated orders, and merging order placements and cancellations from the same address into one queue to ensure the deterministic matching result.
Website Upgrade
We have completed the product design and visual design of the new vite.org. The new version of Vite official website focuses on key information for facilitating new visitors to understand the full picture of Vite.
In the visual design, we have selected 6 different design schemes. It’s completely up to our users to choose the final plan through community voting.
Activities
Vite COO Richard released a new episode on The Blockchain Debate Podcast. The guests included Uri Klarman, the CEO of Bloxroute, a Chicago-based layer-0 blockchain company; and Mrinal Manohar, the CEO of CasperLabs, a New York-based public blockchain firm. The debate topic was a technical discussion around public chain scalability. The focus of the discussion was on how to achieve scalability via accelerating block transmission at the network’s transport layer.
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en
Vite is a new generation of reactive blockchain, which adopts a message-drive asynchronous architecture. In Vite ecosystem, asynchronous is not only an important concept, but also a very critical innovation.
The Model of Asynchronous Requests
Transactions in Vite can be categorized as request transactions and response transactions. Regardless of whether an event is a transfer or the call of a contract, two successive transactions get generated on the ledger.
A transfer can be split into a receive transaction and a send transaction; a transaction to invoke a contract can be split into a contract request transaction and a contract response transaction; the message call within each contract can be split into a request transaction and a response transaction.
After the split, each transaction only affects the state of a single account, and transactions do not interfere with one another, which improves throughput. In addition, transactions by different accounts are also allocated to different nodes in the network, thereby increasing scalability.
The Model of Asynchronous Confirmation
In the Vite framework, writing transactions into a ledger and receiving confirmations by the system are also asynchronous. Different users may write transactions into the ledger in parallel., and the snapshot chain will take snapshots of the ledger at a constant rate. A confirmation happens once a snapshot of a transaction is taken. As the snapshot chain grows, the number of confirmations will also increase.
The Model of Asynchronous Communication
Vite’s inter-contract communications incorporate a message-driven architecture, where the contracts do not share states but only communicate by sending messages to each other.
****If a contract calls another contract, the former needs to send a request transaction first. This is logically similar to producing a message in MQ. After the node running the target contract observes the request transaction, the node writes a corresponding response transaction in the ledger, and updates the state of the contract. This process is equivalent to consuming a message from MQ.if a return value is needed, the target contract will send another message to the source contract in the same way.
In this model, Vite’s ledger serves the role of the message middleware, and can guarantee the exactly-once semantics of messages.
The message-based architecture features high throughput and scalability. But on the flip side, the programming models become more complex. Not only is strong consistency not guaranteed, but latencies may become longer.
To address the above issues and reduce the cost of asynchronous programming, Vite will provide a contract language called Solidity++ and a full SDK associated with it. After rigorous research, we found that in actual scenarios, BASE semantics can replace ACID semantics. The increase in delay is still under control since the HDPoS consensus algorithm guarantees completion of the transaction confirmation within 1 second.
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en
On 09 May 2020, Vite welcome the special guests from KardiaChain, joining an AMA with the community at Telegram.
Tri Pham - CEO; Huy Nguyen - CTO; Son Nguyen - Head of Business Development: Astrid Dang - Head of Marketing & Partnerships
KardiaChain is the public blockchain platform focusing on interoperability and providing hybrid blockchain solutions/infrastructure for enterprise and government, not only in Vietnam but also in other countries in Southeast Asia.
They are working with major service providers (enterprises and government) to decentralize their existing solutions. KardiaChain's goal is to reach millions of users without the immense cost of educating the market. Their Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol, which provides easy-to-adopt solutions for institutional clients.
KardiaChain has successfully completed IEO on Gate.io with a total of $19m oversubscription. Based out of Vietnam — KardiaChain boasts a lineup of top Enterprise and Blockchain partners, which can be named: BlockCrafters Capital, Matic, Band Protocol, Tokoin Contentos, CertiK, TOP network, VTVCab, Vietnam Football Federation, Geleximco and has formed a partnership with Vite Labs.
More information about KardiaChain be found here.
Useful link
Website: https://kardiachain.io
Twitter: https://twitter.com/KardiaChain
Telegram: https://t.me/kardiachain
Official Announcement: https://t.me/KardiaChainOfficial
Medium: https://medium.com/@KardiaChain
Github: https://github.com/kardiachain/go-kardia
Vite admin: What are the Competitive advantages of KardiaChain & Why do any service providers choose KardiaChain instead of other similar projects?
Tri Pham- KardiaChain CEO: We aim to achieve mass adoption on a large scale in an efficient manner by leveraging our strong business acumen and local know-how and partnering with large enterprises and government bodies to decentralize their existing products/services for the general public. These hybrid decentralized solutions are called ADapps (Adoption DApps) and are unique to KardiaChain. This approach allows KardiaChain on-board non-crypto users onto the blockchain in a highly-efficient manner, while at the same time-saving costs for customer acquisition and market education. What makes KardiaChain ADapps special is that it creates real demand for KAI token and real value for our investors.
Our dapps are tokenized with many KAI use cases integrated. For example, our first ADapp ON Sports will allow for KAI token holders to play prediction games, live stream donations to their favorite football players as well as earn KAI tokens through various in-app tasks.
Vite admin: What's ON sports? Your company is in collaboration with "ON sports", could you tell in details some features about this KardiaChain 1st dApp?
Tri Pham- KardiaChain CEO: KardiaChain is building a complete KAI tokenized football ecosystem, where if you are a Vietnamese football fan, you only need to hold KAI tokens to enjoy football at its best. The football ecosystem partners will include: Vietnam Football Federation (VFF), ON Sports, Vietfootball, KardiaChain FC (our very own Futsal club).
ON Sports is the top sport app owned by VTVCab, a national tv channel in Vietnam.
There are several blockchain features
1.Prediction Games
Users holding KAI tokens in the ON Sports App are eligible to make football score predictions to win exciting football related rewards such as football match tickets, meet your favorite football player in person, football merchandise etc.
2.Livestream Donations
Users will be able to send donations to their favorite football players using KAI tokens either during football livestreams, or even their favorite player’s personal livestream.
3.Daily Rewards
Users complete daily tasks such as reading articles, viewing videos or refer their friends to acquire KAI tokens as rewards.
More details of the On sport can be found here
A sneak peak for those who want to check the app.
Here are the links:
AppStore | Google Play
Vite admin: Why does KardiaChain pay high attention to the hybrid infrastructure? What advantages does this infrastructure offer in terms of payment system and usage?
Tri Pham- KardiaChain CEO: Many people are interested in this. Combining private and public blockchains allows us to create highly flexible solutions that are much more practical for real world usage and blockchain adoption i.e. our ADapps. Let’s have a look at the mobile payment gateway example and how we combine our hybrid infrastructure to develop highly flexible solutions that allow for maximum scalability, security, and privacy:
Each purchase on this new channel is a single transaction. Vietnam with over 100 million population will be able to use this payment gateway to pay for various 3rd party services from independent merchants. Therefore, the number of transactions will be immensely high when moving onto the blockchain.
These transactions will, therefore, be processed on the Telco’s private Kardiachain blockchain to maximize scalability.
Sensitive information that needs to be kept confidential, such as customer information will also be stored on Telecom’s private Kardia blockchain
Information that does not require scalability, nor confidentiality but rather transparency such as 3rd party merchant information will be stored on KardiaChain’s public blockchain
**Vite admin:**It's clear that blockchain projects are striving to achieve the "massive adoption". What's your mass adoption definition? What's KardiaChain going to do to achieve this, not only in the Vietnam market but also worldwide?
Tri Pham- KardiaChain CEO: Mass adoption for me means a large enough number of users to bring meaningful interactions on the blockchain
I like the idea of “tipping point”, where enough of people use blockchain services or possess the tokens will lead to a dramatic shift of behavior.
We are working in Vietnam first because it’s our home market. I want to make a strong case for the world about blockchain adoption.
Although China is very well ahead of the rest of the world, I still believe there is more space for blockchain in Vietnam. Especially because we have no legacy system to compete with.
For example, in developed countries, they already have a system in place for digital services. Blockchainisation will be a headache due to all the data migrations and changes in workflow.
Vietnam is still opened for that, we are in the golden population structure, a Young workforce that is tech-savvy and ready to learn.
Vite admin: I've got a question from some community users.
Can you tell us more about the partnership between Vite and KardiaChain. What scopes are the two parties going to work together?
Tri Pham- KardiaChain CEO: KardiaChain is developing a mobile payment gateway to reduce entry barriers to onboard non-crypto users onto blockchain via user-friendly payment channels. We started the integration process with the largest telco in Vietnam with over 60m subscribers, and other SouthEast Asia countries, who will be able to purchase KAI tokens using their mobile balance. Vite has been working with their partner Alchemy regarding their payment network integrated with POS providers currently used in Singapore. Vite will use KardiaChain’s mobile payment gateway to enlarge its user ecosystem. The cooperation will significantly leverage ecosystem’s user base to reach a higher goal of a blockchain digital payment landscape throughout Asia.
We can support each other in DEX technology. KardiaChain is "Non-invasive" interop, which means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol. Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol. Since KardiaChain support cross-chain operations through smart contract, we also have an MVP in our fully decentralized cross-chain exchange.
Vite with the goal of enabling fully decentralized cross-chain asset transfer, will apply fully non-invasive interoperability “Dual Node” KardiaChain technology to enable Vitechain cross-chain transactions in a fully non-custodial manner.
1.@iam12312: What were the main challenges that you faced in these times & how do you see these Developments helping Kardiachain to Attract Investors from around the globe? & Also talk about the positives?
Son Nguyen We have a grand vision for KardiaChain and have been working to well-position our company to become the dominant player in Vietnam. So there are three points:
First, Vietnam is a great market for blockchain and KardiaChain will be number 1 in Vietnam. Second, we focus on building adoption and real-life applications for the token. Last, fixed supply and increasing demand will drive token value steadily. So KAI holders will both having great returns over a long time and become the early supporters for a decentralized future, starting from Vietnam.
2.@BintAlansary Could you give me 3 key points to convince me and other angel investors invest in $KAI in the long-term?
Astrid Dang: KAI is mainly used in staking, paying for transactions, deploying smart contract, and participating in services in KardiaChain ecosystem. KAI is good for long term holders because we focus on expanding the usage of our tokens and our user base. We are looking at 1 million KAI users at the end of 2020 acquired via a series of products and services from our partners. The longer you hold, the more places you can spend your KAI tokens. Limited supplies and increasing demand will drive the value up.
3.@rinnguyen: Can you tell me Three reason why Investors should invest in Kardiachain?
Son Nguyen Moreover, KardiaChain is proud to have many existing revenue streams by collaborating with major international and domestic strategic business partners like our first ADapp announced: ON Sports with 200,000 registered users. So how exactly do our partnerships with major organizations benefit investors?
ADapps in collaboration with major enterprises have a profit sharing model, KardiaChain will use these funds for business and tech development as well as buying back our tokens on the secondary market to reduce the total circulating supply and thus directly benefiting our investors.
Learn more about our ADapps here
4.@ashwini_Crypto: What are your plans Regarding increasing Real Value & Real demand of the KAI Token? Can we see the utilisation of these tokens in the gaming Industry?
Tri Pham We are applying KAI tokens into multiple industries. By getting more users in different market segmentations, we can increase the demands for KAI. Blockchain for Gaming industry includes several aspects: payment, single sign-on (SSO), and game items (NFT). KAI token usage will focus on SSO and NFT (but there are legal concerns). For Payment we already have a mobile payment channel with telecom.
5.@mikuranaI see on your platform, one of your ecosystem products is "ESWIM" can you explain in detail how this ecosystem product works on your project?
Astrid Dang: ESWIM (elastic sharding with incentive mechanism) is a key feature to guarantee the whole network (KardiaChain + groups of Dual Nodes) can always operate at its optimal state in terms of fee, performance, and security. The way ESWIM works is we collect the signals from all participating chains (ETH, NEO, TRX) to estimate the transaction traffic and fee in each chain in real-time. From these estimations, we combine machine learning models with our computed formula to figure out the right amount of validators that should be in each Dual Node group to ensure the most efficient state for the whole ecosystem. Then we can incentivize the validators to stay in one group or move to other groups through different methods such as increasing staking awards for the groups with fewer validators, or increasing deposit requirements for groups that already have high number validators etc.
6.@Sanjuroman1992How actually KardiaChain provide non-invasive interoperability and how can able to connect all blockchains to single protocol?
Son Nguyen: "Non-invasive" interop means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol.
Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol.
For second part of you question, since KardiaChain support cross-chain operations through smart contract, we need to add some CISC instruction like "hold-and-release-at-certain-time" which ETH doesn’t need to support. DApp developers using KardiaChain would be able to write these command in the smart contract, whereas in ETH they can’t.
7.@Shaa93: For each project, #community factors contribute to the project's victory. Kardichain is new, so how does the project have a marketing plan to attract the interest of newcomers and maintain participants in the Kardichain community?
Astrid Dang Great question! Please check out this article to learn more about our blockchain adoption approach, it is user-friendly because our effort is to decentralize enterprises and government solutions, which are well-established with existing large userbase. Our hybrid ỉnastructure as well as non-invasive platform are useful for this: https://link.medium.com/pugfV3j9j6
For the Intangible wallet solution, please read more here: https://t.me/kardiachainofficial/177
The end of AMA. Special thanks to KardiaChain team for joining the AMA
Trade here: https://x.vite.net/trade?symbol=KAI-000_ETH-000
See the announcement here: https://forum.vite.net/topic/3822/ann-vite-labs-listing-kardiachain-kai-and-airdropping-1-250-000-kai-to-vx-holders
ViteX exchange telegram at https://t.me/vitexexchange
Website: https://vite.org
Telegram: https://t.me/vite_en
ViteX: https://vitex.net
ViteX telegram: https://t.me/vitexexchange
@kjvaha the referral program is not yet activates- as plasmo said.
@kjvaha Daily airdrop is still on-going. read it https://forum.vite.net/topic/1972/vite-airdrop-first-update
Background
DAG is an acronym for Directed Acyclic Graph. It is a method for sending data in a distributed environment. Originally, DAG is not blockchain technology, but a data structure for solving dynamic programming problems. The first person to propose this concept was Sergio Demian Lerner, who published the article DAG Coin Draft in September 2015 and first proposed the concept of DAG-chain. Although DAG was not created for blockchain, this decentralized network implementation is now classified in the blockchain sector. Popular projects include IOTA, Nano, ByteBall, VITE, etc. All these projects were developed from the basic DAG structure.
The Theory of DAG Technology
In comparison to the traditional blockchain structure, DAG is no longer a single-chain. If considering the blockchain as a line, the DAG structure is a web structure, where transactions can be processed asynchronously and concurrently. With these characteristics, multiple blocks can be written into the network simultaneously. The efficiency of DAG transaction is highly increased compared to the traditional blockchain structure that only one blockchain can be produced at a time.
According to DAG structure, every transaction is directly involved in maintaining the entire network. When a transaction occurs, a new block will be generated. This new block will be added to the network and connected to the previous block. Over time, all blocks will be connected to each other and form an acyclic graph structure. Each block can be traced back to the genesis block. Thus if you want to change the data of a certain block, you need to change the data of the genesis block.
In the picture shows below, the security gradually improves from left to right, but the performance gradually decreases, resulting in a slower transaction speed. The leftmost is a combination-based structure commonly used in centralized systems. The rightmost is a typical blockchain ledger. In between are DAG structures.
The Features of DAG Technology
DAG has the following two characteristics in comparison to traditional blockchain structure:
For most blockchain network, the bottleneck is not node processing ability, but the inability to perform parallel computing. The majority of the time wasted is from idle waiting time: Part of the wait is from synchronization to all nodes when initiating a transaction; another part is the time taken to broadcast confirmation to the whole network.
There are no such problems for a DAG structure. When sending a transaction, it does not need to wait for transactions submitted before. The transaction only needs to go through local verification, network propagation, and other local verifications. These steps can be characterized as a decentralized confirmation process. In this process, every node is solving a piece of a puzzle, and connecting transactions confirmed by itself and transactions confirmed by others.
DAG on Vite Public Chain
Vite uses a specific DAG ledger structure named Block-Lattice, where each account corresponds to a chain, and each transaction refers to the hash of the previous transaction. Transactions are split into “request transactions” and “response transactions”. A response transaction refers to the hash of its corresponding request transaction. This forms a grid-like DAG structure. This ledger structure allows unrelated transactions to be written in parallel, reducing the probability of conflicts and as a result to improve throughput.
Block-Lattice ledger also has flaws. It’s weak on tamper-resistance, which might cause hidden security risks. This is because transactions are grouped by accounts. A transaction will only be attached to the end of the account chain of which it belongs. Transactions generated by other accounts will not become successors of the account chain, so the probability of the transaction being rolled back will not be decreased over time.
In order to make up for this defect, Vite introduces another chain structure called Snapshot Chain and thus improves the consensus algorithm. We will elaborate on the functions of Snapshot Chain in other articles.
SummaryDAG is a new generation of blockchain technology. The high-performance and scalability of the DAG structure can just make up the shortcomings of the current blockchain structure, and bring a new revolution to blockchain technology. Based on the DAG structure, Vite is able to provide more easy-to-use products and build a better ecosystem.
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en
@Gentleshaid Hi. Have you input enough gwei? What error you get? Please send a screenshot if possible
In order to incentivize capable teams and developers to build the Vite ecosystem together, the Vite Foundation has launched a support plan to encourage outstanding developers to participate in the development of the Vite ecosystem.
How to participate in the Vite Ecosystem Incentive Program?
The Vite Foundation will release development bounty tasks from time to time. Developers may apply for the tasks by submitting the application form and start development after receiving formal approval.
The 1st Dev Bounty Task: Vite Full Node Query
Use case:
Search for a certain address to view the status of all nodes under this address (number of nodes, status, uptime rate, version, etc.)
Development scope and description:
After entering the Vite address, click ‘search’ to jump to the details page.
Vite address only
After entering a correct address, click ‘search’ to jump to the details page.
For wrong addresses, display “Please enter a proper Vite address
Node details page should have the following functions:
Display a Vite logo and the total number of nodes on the top of the page;
Show node name, online status, uptime rate, version and registered address in search results;
Provide a search box to search for a different address;
If no node is registered under the current address, the result list will be empty;
Hitting the ‘Back’ button of the browser will return to the homepage.
Requirements:
All functions described above must be provided;
The mockup UI can be customized in developer’s preferred style but should be kept neat with a good looking;
Must support English language;
Support both PC and mobile device;
Bounty: 10,000 VITE
Note: Necessary API interface will be provided by Vite Labs once the task is assigned.
Application Process & Bounty Rules:
Submit the application form at: https://forms.gle/pmgxuF9aT4nqydkp6;
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
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Dear ViteX community,
The ViteX team is always looking to provide users with a better trading experience and protect the rights and interests of investors. As such, we recently worked with operators to limit the display of certain trading pairs. In general, operators should monitor the activeness of projects after listings. When an operator sees that a project is no longer actively developing, it should suspend the display of relevant trading pairs for such a project.
Note that since ViteX is a decentralized exchange, the trading pairs still live on the Vite chain. The ViteX team is merely making changes to the user interface to disable the display of these trading pairs. Therefore, undisplayed trading pairs are not “delisted.” Users may access them via either a third-party community-built website or by entering URLs on vite.net (example: https://x.vite.net/trade?symbol=XYZ-000_ABC-000). Also, since users custody their own tokens (Vite-wrapped), the security of these assets are not affected.
Separately, we also encourage operators to build their own decentralized exchanges based on the Vite blockchain. This is in line with the philosophy of Open Finance. In the long run, operators will benefit from building their own brand on a platform-independent from ViteX.
There will be a list of trading pairs that might be hidden based on the new rules on Nov 11, 2020.
Details of the Rules
For the sake of transparency, we enumerate below the rules for un-displaying trading pairs:
1. Project and Team
1.1 The project team has demonstrated unethical and fraudulent behaviors: E.g., the information of team founders, co-founders and consultants have been proven fraudulent; or said individuals are suspected of being involved in market manipulation or other major legal issues.
1.2 The project has been determined to have violated laws by national and regional regulators.
2. Volume and Price
2.1 For each trading pair, the average daily trading volume is less than 0.02 BTC for 2 consecutive weeks; or the trading volume is zero for 72 hours.
2.2. The project team concealed major events that may seriously affect the token price;
2.3 The trading platform and users are not notified at least 15 days prior to an increase in total supply, or a hard fork.
3. Operation of the project
3.1 The official website and community have not been maintained for a long time, and the social media or official website has not disclosed any project progress (for example: development progress, version updates, team trends, etc.) for 2 months;
3.2 The project’s information disclosure has major deviations or falsehoods;
3.3 The project team unlocks tokens earlier than the lock-up schedule as promised in the whitepaper or via other forms of communication.
4. Security
4.1 The mainnet has security risks, such as smart contract security vulnerabilities (e.g., stack overflow);
4.2 The project has been successfully 51%-attacked, or there exists serious possibility of such;
4.3 Software development has not been carried out according to the schedule in the whitepaper, and there is no announcement for related delays;
4.4 The blockchain/protocol layer source code (GitHub) has not been updated for a long time, and the long-term version of the application project product has not been updated.
5. Other
5.1 The team does not respond to community inquiries;
5.2 Other unethical, fraudulent or illegal acts
As the operator detects any of the above situations, it needs to communicate with the ViteX team. The ViteX team will provide the operator with the necessary technical support to hide the relevant trading pairs. The operator will subsequently announce to the community about the oncoming hide of trading pairs. Usually, the operator will make such an announcement one week in advance, but in the event of serious potential security problems, this lead time may be reduced.
Dear Users,
Trading pair AR/USDT will soon be enabled with Trading and MM as mining, starting 15:00 (UTC+8) on Oct 13.
A week of special event to receive 3X market-making as mining rewards for trading pair AR/USDT will also start from 15:00 (UTC+8) Oct 13 and last through 15:00 (UTC+8) Oct 20.
About Arweave
Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever.
Mining Range
Note:
The ratio of VX rewards from buys versus sells is capped. When the ratio hits the cap, if one continues to place buy orders, their VX rewards will NOT be increased.
The ratio of VX rewards from sells versus buys is also capped. When the ratio hits the cap, if one continues to place sell orders, their VX rewards will NOT be increased.
Example
Suppose that the USDT market has only HNS/USDT trading pair and all orders are placed for 24 hours, a total of 250 VX will be allocated as mining rewards. Consider five scenarios as follows:
The mining calculation is conducted as follows:
The Base Number of 1 user on one market in a day = the sum of all Base Numbers of every single order of that market. Here, the Base Number (m) is subject to three factors: the order time (T), the order amount (A), and the mining coefficient (y). That is, m = T * A * y (T ≥ 300 seconds)
The sum of the Base Number on one market in a day = the sum of the Base Numbers of all eligible orders on that day. That is, M = m1+ m2 + m3 + .....mn
Mined VX of 1 user = m / M * 2.5% * VX daily released amount on that day
Links:
ViteX website：https://vitex.net/
Vite APP Download：https://app.vite.net/
Twitter：https : //twitter.com/ViteXExchange
Telegram：https : //t.me/vitexexchange
Oct 12, 2020
Team ViteX
ViteX is exploring the possibility of adding stablecoin trading pairs with low or zero trading fees. This will make it easy for our users to convert between stablecoins, which is a growing demand.
Help us understand your needs by completing this survey here (https://docs.google.com/forms/d/e/1FAIpQLSfrUfx_oKjJktQ93M4_yu5fesPmToADtO0kBJw0ONucdpUgcg/viewform)!
Strategic partnerships
On May 7, Vite Labs announced a strategic partnership with KardiaChain. Both parties will jointly explore payment solutions and develop infrastructure for blockchain interoperability. KardiaChain is in partnership with a top telecom company in Vietnam with 60 million users, and it aims to establish Vietnam’s first mobile payment gateway. Vite’s collaboration with KardiaChain will provide more opportunity to expand Vite’s crypto payment network in Vietnam and Southeast Asia.
ViteX Exchange
On April 30, ViteX released DEX API. Users can apply for API Keys on the ViteX website. The launch of the API will further expand the ViteX trading ecosystem, help attract quant traders, and improve liquidity for the exchange.
On May 8, KardiaChain coin(KAI) was listed on ViteX via Vite Labs gateway. On May 9, KAI / ETH trading pair was opened, enabling market-making as mining.
Users with more than 10 VX in the Vite app received an airdrop of 1,250,000 KAI. This is the first time we rewarded VX users with airdrops, and we received positive feedback. In the future, we plan to run similar campaigns, iterate on best practices for airdrop rules, and coordinate with projects to increase airdrop amounts. We hope these measures will continue to raise VX’s intrinsic value.
Technology Series
On May 6, we published the technical article “The Design and Implementation of ViteX Contracts”, which briefly explained the smart contracts used within ViteX.
Community AMA
On May 9th, KardiaChain ran an AMA in Vite telegram group and rewarded 150,000 KAI to the community.
Vite Official Website
We ran a community vote on the new design of vite.org. The result will be published soon. Thanks all for participating!
Vite Mainnet
On May 27, Vite network will have the fourth hard fork named MARS. The main purpose of this hard fork is to upgrade the built-in contract of ViteX. Details: https://forum.vite.net/topic/3848/important-vite-mainnet-4th-hard-fork
Data on ViteX
As of May 15, 16,740,658 VITE have been burned, accounting for 1.67% of total issuance.
137,756,367 VITE are staked on ViteX exchange, accounting for 13.78% of total issuance.
6,377,320 VX has been released, of which 5,957,905 VX is being staked for dividends.
To-date, 49.5 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 30.3 BTC.
Vite Wallet
Vite Wallet 3.6.0 (iOS and Android) has been formally released. This version re-writes the built-in ViteX exchange in native code so as to significantly optimize the trading experience. In addition, Vite Connect, which is relied upon when generating ViteX API Key, was also upgraded. Users can self-generate API Key on the ViteX website by scanning the QR code in Vite Wallet.
After the 3.6.0 version was released, we received many valuable feedback from the community. The feedback has been well collected, and will be prioritized and incorporated in subsequent versions.
On May 11, we released Vite Wallet 3.6.1 (iOS), solving the problem that some ERC20 token transfers may fail due to gas limit, as well as under certain circumstances the built-in ViteX page may be stuck.
On May 14, we submitted Vite Wallet 3.6.1 (Android) to Google Play for review. This version fixes the occasional app stuck problem when switching addresses, and the problem that exchange-related message may wrongly appear on non-exchange pages.
We also started the development of V3.7.0. In this version, we will continue to add new features to the exchange and reduce the size of the app package for faster download.
Starting from V3.6.0, we changed the app name from Vite Wallet to Vite, meaning that the positioning of Vite wallet has changed from a single-purpose wallet to a full-stack wallet + exchange decentralized crypto asset management tool.
ViteX Exchange
ViteX API has been formally released. In the past two weeks, we have made additional optimizations, such as checking the minimum order amount and available balance to avoid invalid transactions and standardizing error code and message returns.
We are in the process of integrating ViteX API with CCXT. CCXT (https://github.com/ccxt/ccxt) is an open-source cryptocurrency exchange API adapter library that currently supports 120 exchanges. Through CCXT, users can ignore the differences in API interfaces of different exchanges and simplify the development of trading bots. At present, there are many quantitative trading programs that use the CCXT library to access different exchanges. After our integration, these existing programs will be directly accessible on ViteX.
In addition, the upgrade of ViteX built-in contract is finished. A new hard fork has been scheduled on May 27, which includes optimizing order cancellation logic, unifying the logic of order flows by raw signatures and delegated orders, and merging order placements and cancellations from the same address into one queue to ensure the deterministic matching result.
Website Upgrade
We have completed the product design and visual design of the new vite.org. The new version of Vite official website focuses on key information for facilitating new visitors to understand the full picture of Vite.
In the visual design, we have selected 6 different design schemes. It’s completely up to our users to choose the final plan through community voting.
Activities
Vite COO Richard released a new episode on The Blockchain Debate Podcast. The guests included Uri Klarman, the CEO of Bloxroute, a Chicago-based layer-0 blockchain company; and Mrinal Manohar, the CEO of CasperLabs, a New York-based public blockchain firm. The debate topic was a technical discussion around public chain scalability. The focus of the discussion was on how to achieve scalability via accelerating block transmission at the network’s transport layer.
Official: https://www.vite.org/
ViteX Official: https://vitex.net/
Twitter: https://twitter.com/vitelabs
Vite Forum: https://forum.vite.net
Telegram:
English: https://t.me/vite_en
Chinese: https://t.me/vite_zh
Russian: https://t.me/vite_russian
Japanese: https://t.me/vite_japanese
Vietnamese: https://t.me/vite_vietnamese
Arabic: https://t.me/vite_arabic
German: https://t.me/vite_german
Turkish: https://t.me/vite_turkish
Indonesian: https://t.me/vite_indonesian
Spanish: https://t.me/vite_spanish
Portuguese: https://t.me/vite_portuguese
Filipino: https://t.me/vite_filipino
French: https://t.me/vite_french
Discord: https://discordapp.com/invite/CsVY76q
Facebook: https://www.facebook.com/vitelabs/
Instagram: https://www.instagram.com/vite.labs/?hl=en
Hi, please reach out to one of our Operators at Vitex.net 
On 09 May 2020, Vite welcome the special guests from KardiaChain, joining an AMA with the community at Telegram.
Tri Pham - CEO; Huy Nguyen - CTO; Son Nguyen - Head of Business Development: Astrid Dang - Head of Marketing & Partnerships
KardiaChain is the public blockchain platform focusing on interoperability and providing hybrid blockchain solutions/infrastructure for enterprise and government, not only in Vietnam but also in other countries in Southeast Asia.
They are working with major service providers (enterprises and government) to decentralize their existing solutions. KardiaChain's goal is to reach millions of users without the immense cost of educating the market. Their Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol, which provides easy-to-adopt solutions for institutional clients.
KardiaChain has successfully completed IEO on Gate.io with a total of $19m oversubscription. Based out of Vietnam — KardiaChain boasts a lineup of top Enterprise and Blockchain partners, which can be named: BlockCrafters Capital, Matic, Band Protocol, Tokoin Contentos, CertiK, TOP network, VTVCab, Vietnam Football Federation, Geleximco and has formed a partnership with Vite Labs.
More information about KardiaChain be found here.
Useful link
Website: https://kardiachain.io
Twitter: https://twitter.com/KardiaChain
Telegram: https://t.me/kardiachain
Official Announcement: https://t.me/KardiaChainOfficial
Medium: https://medium.com/@KardiaChain
Github: https://github.com/kardiachain/go-kardia
Vite admin: What are the Competitive advantages of KardiaChain & Why do any service providers choose KardiaChain instead of other similar projects?
Tri Pham- KardiaChain CEO: We aim to achieve mass adoption on a large scale in an efficient manner by leveraging our strong business acumen and local know-how and partnering with large enterprises and government bodies to decentralize their existing products/services for the general public. These hybrid decentralized solutions are called ADapps (Adoption DApps) and are unique to KardiaChain. This approach allows KardiaChain on-board non-crypto users onto the blockchain in a highly-efficient manner, while at the same time-saving costs for customer acquisition and market education. What makes KardiaChain ADapps special is that it creates real demand for KAI token and real value for our investors.
Our dapps are tokenized with many KAI use cases integrated. For example, our first ADapp ON Sports will allow for KAI token holders to play prediction games, live stream donations to their favorite football players as well as earn KAI tokens through various in-app tasks.
Vite admin: What's ON sports? Your company is in collaboration with "ON sports", could you tell in details some features about this KardiaChain 1st dApp?
Tri Pham- KardiaChain CEO: KardiaChain is building a complete KAI tokenized football ecosystem, where if you are a Vietnamese football fan, you only need to hold KAI tokens to enjoy football at its best. The football ecosystem partners will include: Vietnam Football Federation (VFF), ON Sports, Vietfootball, KardiaChain FC (our very own Futsal club).
ON Sports is the top sport app owned by VTVCab, a national tv channel in Vietnam.
There are several blockchain features
1.Prediction Games
Users holding KAI tokens in the ON Sports App are eligible to make football score predictions to win exciting football related rewards such as football match tickets, meet your favorite football player in person, football merchandise etc.
2.Livestream Donations
Users will be able to send donations to their favorite football players using KAI tokens either during football livestreams, or even their favorite player’s personal livestream.
3.Daily Rewards
Users complete daily tasks such as reading articles, viewing videos or refer their friends to acquire KAI tokens as rewards.
More details of the On sport can be found here
A sneak peak for those who want to check the app.
Here are the links:
AppStore | Google Play
Vite admin: Why does KardiaChain pay high attention to the hybrid infrastructure? What advantages does this infrastructure offer in terms of payment system and usage?
Tri Pham- KardiaChain CEO: Many people are interested in this. Combining private and public blockchains allows us to create highly flexible solutions that are much more practical for real world usage and blockchain adoption i.e. our ADapps. Let’s have a look at the mobile payment gateway example and how we combine our hybrid infrastructure to develop highly flexible solutions that allow for maximum scalability, security, and privacy:
Each purchase on this new channel is a single transaction. Vietnam with over 100 million population will be able to use this payment gateway to pay for various 3rd party services from independent merchants. Therefore, the number of transactions will be immensely high when moving onto the blockchain.
These transactions will, therefore, be processed on the Telco’s private Kardiachain blockchain to maximize scalability.
Sensitive information that needs to be kept confidential, such as customer information will also be stored on Telecom’s private Kardia blockchain
Information that does not require scalability, nor confidentiality but rather transparency such as 3rd party merchant information will be stored on KardiaChain’s public blockchain
**Vite admin:**It's clear that blockchain projects are striving to achieve the "massive adoption". What's your mass adoption definition? What's KardiaChain going to do to achieve this, not only in the Vietnam market but also worldwide?
Tri Pham- KardiaChain CEO: Mass adoption for me means a large enough number of users to bring meaningful interactions on the blockchain
I like the idea of “tipping point”, where enough of people use blockchain services or possess the tokens will lead to a dramatic shift of behavior.
We are working in Vietnam first because it’s our home market. I want to make a strong case for the world about blockchain adoption.
Although China is very well ahead of the rest of the world, I still believe there is more space for blockchain in Vietnam. Especially because we have no legacy system to compete with.
For example, in developed countries, they already have a system in place for digital services. Blockchainisation will be a headache due to all the data migrations and changes in workflow.
Vietnam is still opened for that, we are in the golden population structure, a Young workforce that is tech-savvy and ready to learn.
Vite admin: I've got a question from some community users.
Can you tell us more about the partnership between Vite and KardiaChain. What scopes are the two parties going to work together?
Tri Pham- KardiaChain CEO: KardiaChain is developing a mobile payment gateway to reduce entry barriers to onboard non-crypto users onto blockchain via user-friendly payment channels. We started the integration process with the largest telco in Vietnam with over 60m subscribers, and other SouthEast Asia countries, who will be able to purchase KAI tokens using their mobile balance. Vite has been working with their partner Alchemy regarding their payment network integrated with POS providers currently used in Singapore. Vite will use KardiaChain’s mobile payment gateway to enlarge its user ecosystem. The cooperation will significantly leverage ecosystem’s user base to reach a higher goal of a blockchain digital payment landscape throughout Asia.
We can support each other in DEX technology. KardiaChain is "Non-invasive" interop, which means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol. Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol. Since KardiaChain support cross-chain operations through smart contract, we also have an MVP in our fully decentralized cross-chain exchange.
Vite with the goal of enabling fully decentralized cross-chain asset transfer, will apply fully non-invasive interoperability “Dual Node” KardiaChain technology to enable Vitechain cross-chain transactions in a fully non-custodial manner.
1.@iam12312: What were the main challenges that you faced in these times & how do you see these Developments helping Kardiachain to Attract Investors from around the globe? & Also talk about the positives?
Son Nguyen We have a grand vision for KardiaChain and have been working to well-position our company to become the dominant player in Vietnam. So there are three points:
First, Vietnam is a great market for blockchain and KardiaChain will be number 1 in Vietnam. Second, we focus on building adoption and real-life applications for the token. Last, fixed supply and increasing demand will drive token value steadily. So KAI holders will both having great returns over a long time and become the early supporters for a decentralized future, starting from Vietnam.
2.@BintAlansary Could you give me 3 key points to convince me and other angel investors invest in $KAI in the long-term?
Astrid Dang: KAI is mainly used in staking, paying for transactions, deploying smart contract, and participating in services in KardiaChain ecosystem. KAI is good for long term holders because we focus on expanding the usage of our tokens and our user base. We are looking at 1 million KAI users at the end of 2020 acquired via a series of products and services from our partners. The longer you hold, the more places you can spend your KAI tokens. Limited supplies and increasing demand will drive the value up.
3.@rinnguyen: Can you tell me Three reason why Investors should invest in Kardiachain?
Son Nguyen Moreover, KardiaChain is proud to have many existing revenue streams by collaborating with major international and domestic strategic business partners like our first ADapp announced: ON Sports with 200,000 registered users. So how exactly do our partnerships with major organizations benefit investors?
ADapps in collaboration with major enterprises have a profit sharing model, KardiaChain will use these funds for business and tech development as well as buying back our tokens on the secondary market to reduce the total circulating supply and thus directly benefiting our investors.
Learn more about our ADapps here
4.@ashwini_Crypto: What are your plans Regarding increasing Real Value & Real demand of the KAI Token? Can we see the utilisation of these tokens in the gaming Industry?
Tri Pham We are applying KAI tokens into multiple industries. By getting more users in different market segmentations, we can increase the demands for KAI. Blockchain for Gaming industry includes several aspects: payment, single sign-on (SSO), and game items (NFT). KAI token usage will focus on SSO and NFT (but there are legal concerns). For Payment we already have a mobile payment channel with telecom.
5.@mikuranaI see on your platform, one of your ecosystem products is "ESWIM" can you explain in detail how this ecosystem product works on your project?
Astrid Dang: ESWIM (elastic sharding with incentive mechanism) is a key feature to guarantee the whole network (KardiaChain + groups of Dual Nodes) can always operate at its optimal state in terms of fee, performance, and security. The way ESWIM works is we collect the signals from all participating chains (ETH, NEO, TRX) to estimate the transaction traffic and fee in each chain in real-time. From these estimations, we combine machine learning models with our computed formula to figure out the right amount of validators that should be in each Dual Node group to ensure the most efficient state for the whole ecosystem. Then we can incentivize the validators to stay in one group or move to other groups through different methods such as increasing staking awards for the groups with fewer validators, or increasing deposit requirements for groups that already have high number validators etc.
6.@Sanjuroman1992How actually KardiaChain provide non-invasive interoperability and how can able to connect all blockchains to single protocol?
Son Nguyen: "Non-invasive" interop means participating blockchains (ETH, NEO, TRX etc.) don't have to make any change to their protocol and infrastructure in order to participate in cross-chain operations. Indeed, when we talk to NEO tech team, they don't even know we already cross-connect them to ETH. You can compare this with some other projects which use sidechain or atomic swap where the participating chains need to support these protocol.
Another example is Cosmos, which doesn't have strong requirements, but still request other chains to confrom to IBC protocol.
For second part of you question, since KardiaChain support cross-chain operations through smart contract, we need to add some CISC instruction like "hold-and-release-at-certain-time" which ETH doesn’t need to support. DApp developers using KardiaChain would be able to write these command in the smart contract, whereas in ETH they can’t.
7.@Shaa93: For each project, #community factors contribute to the project's victory. Kardichain is new, so how does the project have a marketing plan to attract the interest of newcomers and maintain participants in the Kardichain community?
Astrid Dang Great question! Please check out this article to learn more about our blockchain adoption approach, it is user-friendly because our effort is to decentralize enterprises and government solutions, which are well-established with existing large userbase. Our hybrid ỉnastructure as well as non-invasive platform are useful for this: https://link.medium.com/pugfV3j9j6
For the Intangible wallet solution, please read more here: https://t.me/kardiachainofficial/177
The end of AMA. Special thanks to KardiaChain team for joining the AMA
Trade here: https://x.vite.net/trade?symbol=KAI-000_ETH-000
See the announcement here: https://forum.vite.net/topic/3822/ann-vite-labs-listing-kardiachain-kai-and-airdropping-1-250-000-kai-to-vx-holders
ViteX exchange telegram at https://t.me/vitexexchange
Website: https://vite.org
Telegram: https://t.me/vite_en
ViteX: https://vitex.net
ViteX telegram: https://t.me/vitexexchange
On 11 Mar 2020, 14:00 UTC, Vite welcome the special guest Nikolaos Kost, from Business and Partnerships Department of Harmony joining an AMA with Vite community at Telegram.
About Harmony
Harmony is a fast and secure blockchain with innovations in state sharding and peer-to-peer networking. Its sharding uses secure proof-of-stake and decentralized randomness, and its networking achievers optimal cross-shard routing and fast block propagation. Since its Mainnet launched in June, Harmony was able to draw much attention from the developer community. Dapps started to be built on Harmony blockchain and some of them issued their own tokens.
Useful links
Website： https://harmony.one/
Telegram： https://telegram.me/harmony_one
GitHub： https://github.com/harmony-one/harmony
Explorer：https://explorer.harmony.one/#/
Discord： https://discordapp.com/invite/rdCmBpe
Twitter： https://twitter.com/harmonyprotocol
Vite admin: Welcome to the AMA today, Nikost, can you tell us about yourself, and Harmony story?
Nikost – Harmony: Harmony is a fast and secure blockchain. Our mission is to scale trust for billions of people and create a radically fair economy. We are a team of infrastructure engineers in Silicon Valley, including 4 Ph.D., 7 ex-Google/Amazon/Apple/Facebook, 2 Harvard MBA, and Stanford/Berkeley AI graduates.
I have joined Harmony's marketing team during April 2019 when we have launched Harmony IEO on Binance, and the last months I am working with partners building on Harmony. I am working from the EU office - while Harmony has HQ also in San Francisco and China.
Except for being intelligent, the team is also hard-working. Here you can see our GitHub Activity.
Vite admin: Adoption is one of the important factors that all sustainable blockchain projects. Could you tell us what is Harmony's achievement and your plan to achieve ADOPTION, real use cases?
Nikost – Harmony: I would dare to say that blockchains that will fail to build cases outside of the crypto will not be viable in the long-term.
Once staking is launched, we have plans to integrate with Lympo, which is a Samsung Galaxy health tracking app that rewards users based on their activity. They are built on Ethereum, but are interested in Harmony for its scalability and low transaction cost. We are also integrating Quidd, which is a digital collectible that we acquired.
We are currently exploring an integration point to allow for transactions to operate on Harmony. Lastly, our biggest focus is our Cross-Fi platform. Our team sees a huge opportunity in Cross-FI (Cross Border Finance) finance. We have done a lot of exploration in South Korea, China, India, and South East Asia to figure out which horizontal layer of the vertical stack would fit best. Is it the settlement, credit rating for the international accounting layer? We are trying to figure out how Harmony will best integrate in terms of its speed and low transaction costs.
Vite admin: What innovations brings Harmony's Effective Proof of Stake?
Nikost – Harmony: Harmony is a Proof of Stake Blockchain. We were researching both technically and economically how to make Proof of Stake more effective- hence we have published in May 2019 our Effective Proof of Stake.
The model we considered, is different from traditional PoS, which is very wealth driven. In those models, if you own 90% of staked tokens you earn 90% of rewards. To encourage more decentralization, EPoS will enable a median stake. There will be a 20% up and down number that would be the sweet spot for earning rewards. In that sweet spot, everyone is earning the same amount. If a validator stakes too much, they would be out of the sweet spot and potentially earn no rewards. For example, if 7 was the sweet spot, and they staked 100, 93 of those tokens staked would not earn any rewards. It’s in the delegator's best interest to find the best validator that is in the low margin of staking. The best ROI in rewards is highest when staking for those in the sweet spot.
Effective proof of stake (EPoS) is just one way we are incentivizing decentralization. Once we are live, we will continue testing and improving. Our philosophy at Harmony is to deliver products as quickly as possible so we can learn faster and improve quickly. More details are available here.
Vite admin: How close is to release Open Staking? Is Harmony the first PoS sharded blockchain into production?
Nikost – Harmony: Actually, it's a great timing you address this question. Today we will publish our announcement about the Open Staking Launch pending deliverables and launch timeline. It might be live until the AMA in our community. We believe with this milestone Harmony is set to be the first sharded Proof of Stake- validating that ETH2.0 which will come much later is technically viable and applicable. Of course, the transition might be challenging for our friends at the Ethereum foundation. The staking comes with the economic incentives- hence we have revised our Token Economic Model to make sense. Find more here. Instead of speaking, we would like to extend an invitation to Vite community to get their hands dirty and experiment with Open Staking in our Pangaea - our testnet- we have also bounties available.
Vite admin: Is Harmony the first PoS sharded blockchain into production?
Nikost – Harmony: I would dare to say that yes, Harmony is the first Sharded PoS blockchain. There is a great article by Blockchain Analyst Rohit Chatterjee featured on Harmony naming Harmony as the first sharded Pos blockchain on production. Check it here.
"Not only has Harmony’s achievement shown that it can be realized in practice, but it has also paved the way for Ethereum to implement a sharded and PoS-enabled blockchain, making blockchain enthusiasts confident that Eth 2.0 might see the light of day soon now."
Vite admin: Can we do a quick overview of what sharding is and how it applies to scalability in Harmony?
Nikost – Harmony: Sharding is an interesting way to optimize a blockchain. You don’t need to increase the throughput of the entire blockchain. You can have four blockchains that communicate well together to better manage the workload of the blockchain.
For example, when you come into Harmony and log into your account, it will exist on four or more shards at launch (e.g.: Shard 0 through Shard 3). If I have a balance of ONE token on Shard 1, I may not have any on Shard 0. If I send you tokens on Shard 1 you will see them on Shard 1, but may not see them on Shards 3 or 2. This is something a user should be aware of. When you log in, you have accounts on all Shards and can perform cross-sharding transactions; your address can exist across all Shards and may have different balances on each.
Vite admin: How can user engage with Harmony now?
Nikost – Harmony: In our roadmap with experimenting and providing feedback about Open Staking! We have $50,000 of $one reward for people to experiment with the network! it hasn't been announced yet, but I believe within the week we will release the full details on how to participate. You can engage with our community or subscribe to our announcements channel to get the latest updates.
Sonia (@Baby_Crypto): Does the Harmony team see Ethereum PoS as a competitive platform? What is the competitive strategy of the Harmony project after moving to PoS Ethereum?
Nikost – Harmony: Absolutely Ethereum 2.0 is going to be a competitor. Our comparative advantage is that we have launched much earlier than ETH2.0 and resolve some of the early vulnerabilities that every new blockchain architecture will experience during the early days. Of course, Ethereum is a great ecosystem and we are trying to participate actively- engaging with developers and build cross-chain bridges with the growing Ethereum ecosystem.
Machine Gun Kelly (@cailozma1900): Does the Harmony team have a plan to increase or decrease the supply? And how will that be done to manage the supply of Harmony?
Nikost – Harmony: The total supply will be recalculated when Open Staking will launch to include annual inflation staking rewards. We have worked carefully to design our token economy validated by research team Delphi Digital. Check it here.
Rekt X (@whosaidyourlegit): How can I set up a node?
Nikost – Harmony: We have set a guide on how to set up a note in out Open Staking testnet. Also, our tech ambassadors going by the name P-OPS are around in our community to help you connect.
Dun- Devloper NG (@DuncanTraynor): Let's leave aside all the hype a la "it's good, cause it's blockchain" and speak specifically. How Harmony tech can improve my life in terms of financial service?
Nikost – Harmony: We are focusing on developing economies and right now exploring the cross-fi market. This is a great article that we have published about Cross-fi.
Joy Ico (@Shan_is_real_king): What are the minimum requirements to build Harmony node? Can I use Ankr to deploy Harmony node?
Nikost – Harmony: Yeap you can use Ankr to deploy a Harmony node for Open Staking. Here are the steps to start operating a Harmony node. Technically you need the following requirements: Technical requirements: Minimum of 2 cores, 2G RAM, 50 GB (or more to be safe) hard drive. AWS t3. small or equivalent from other cloud provider.
SURI (@demono1): There are 3 common core issues in technology today: scalability, security, and interoperability, speed and privacy. So, how will Harmony solve these problems?
Nikost – Harmony: Here is our pitch- how Harmony is solving the blockchain quadrilemma https://harmony.one/keynote. For the last few years, the trilemma — decentralization vs scalability vs security — has sparked many advances in blockchain protocols.
To us, achieving all these characteristics is not an impossibility but an expansion of the triangle through great engineering. But, here, let me present the blockchain quadrilemma, adding the fourth critical dimension, privacy. I’d argue this pyramid will be one of the most important problems for our generation to solve in the coming decades: to understand what privacy means in terms of human rights, product design, and the digital economy. And, to build an open platform without sacrificing performance, without delegation to a central entity, and with verifiable security.
zafer metin (@zaferce): Harmony is among your recent plans: $10k transaction fees; $10m ONE staked; 100% uptime; 10 hires; important goals. How close are you to achieving these goals? Harmony is also very transparent in explaining her goals. This is an issue to be appreciated. How close are you to the realization of these goals? How will Harmony (ONE) shape the future? What kind of ecosystem do you plan?
Nikost – Harmony: You did a great job going through our 2020 Goals! Every week and monthly we update through Twitter about our goals. We share here also the updates. For those who are not familiar with our TEAM 2020 goals, this is a great resource to get you started.
The end of AMA. For more information about Harmony, please refer to Harmony Website. Special thanks to Nikolaos Kost for joining the AMA.
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