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Posts made by Richard_Yan
RE: Vite Labs is holding a conversion campaign, and if you migrate VITE ERC20 tokens to Vite TestNet, Vite Labs will airdrop 1% of your total converted tokens to your address.
Note that there is another conversion campaign (Round 2):
ERC20 Conversion Campaign - Round 2
Dear Vite Fans,
As of Jan. 8, the amount of VITE ERC20 tokens migrated to Vite TestNet has reached 80 million, and these tokens became eligible for voting for Snapshot Block Producers (SBPs).
Now we have decided to host a second ERC20 to VITE Token Conversion Campaign this January!
Round 2 Token Conversion Campaign
Dates: Jan. 10 - Jan. 31, 2019
Rewards: 1% for the total amount of VITE converted during this campaign!
(You may earn a bonus by voting for official SBPs, and the annualized return for voting exceeds 20%.)
New Benefit: Vite now has a one-click token conversion function in its web wallet. Vite community members no longer need to run smart contracts to participate in token conversion! It’s a one-step user-friendly process!
Check details here.
Upon successful conversion, complete this Google form: https://goo.gl/forms/hBR1meCNooMeagFY2
If you reply to this post with a screenshot that shows a successful conversion, Vite Labs will send rewards to your corresponding address immediately.
* [A Note on Conversion Bonuses for New Year’s Eve]
If you previously converted Vite ERC20 token to TestNet, you would have noticed that you received token bonuses on New Year’s Eve. This bonus was meant to be a thank-you for our early converters.
Details are below:
If your initial token conversion occurred before December 1, you would have received 1% VITE of the total conversion amount.
If your initial token conversion occurred between December 2–20, you would have received 0.7% VITE of the total conversion amount.
If your initial token conversion occurred after December 20, you would have received 0.5% VITE of the total conversion amount.
Vite Labs really appreciates your contributions and participation.
Let's Create Something Cool!
Vite Bi-Weekly Report - Oct 16–31, 2018
Dear fans, welcome to the Vite Biweekly Report (October 16th-October 31st). Let’s get up to speed with the latest developments at Vite the past 2 weeks.
Our Fresh Recruits: 4 new employees have joined the team
- 2 designers will redesign Vite wallet, official wallet & the Vite store
- 1 data operation specialist will analyze data of bottlenecks, drive operational direction as well as measure the operations’ efficiencies
- 1 marketing specialist (Silicon Valley team) will handle responsibilities within the spectrum of international marketing & business operations
Team Size: with the inclusion of our new hires, Vite is a strong team of 40. 35 members in the Beijing office & 5 members in the Silicon Valley office
- Development of PoW Pool (the service for earning transaction quota)
- Design of voting and settlement function
- Development of the mnemonic function
- Joint debugging between multiple functional modules of Vite TestNet
- Looking at TestNet performance & Stress Testing
- Vite App, Vite Web Wallet, Block Explorer upgrade to support new TestNet
On October 24th, our team completed the unlocking of tokens sold during the private sale. The current circulation is 433,967,577.9767VITE, which accounts for 43.4% of the total supply. The remaining 56.6% of the tokens are still being held by the team. In order to activate the Vite TestNet, our team has burned all of the ERC20 tokens that they held. These tokens will be mapped in the Vite test network at a 1:1 ratio.
On October 25th, our team unveiled preliminary details of the Vite test network incentive plan — this includes the super node campaign and mining dividends. Users can swap their ERC20 VITE tokens to TestNet tokens in order to participate in the super node campaign.
Our product team has developed an iterative near-term plan for the exchange as well as completed its initial review. The development team has finished defining the relevant data structure and interactive interface, the detailed design of key algorithm and data storage solution. We are now gradually entering the programming phase on schedule.
Halloween with Vite: From October 31st to November 1st, we held a Twitter contest where fans could create videos, photos, artworks and essays.
Contest Winners Receive Vite Community Points (VCP)
Per contest rules, all viable submissions featured the @vitelabs handle & included hashtags “$ vite” and “#letscreatesomethingcreepy”. Contestants were then further instructed to create their own creative hashtag going along with Vite’s Halloween theme. The top 100 entrants announced will win Vite Community Points (VCP).
VCP can be used to redeem merchandise on Vite Store. Here’s Vite Store Chinese version. We will have international Vite Store soon.
Chinese Community: We currently have 63 official WeChat groups, 41 community administrators to address our expanding Vite fan communities. Recruiters and volunteers are now being nominated by the community itself.
During the discussion, Richardemphasized his desire for Vite to become the model for DAG usage on a public chain. Trading congestion & slow processing speeds are the most apparent bottlenecks within Ethereum, Vite’s DAG infrastructure can address these issues. Faster speeds & no transaction fees are the biggest advantages of DAG.
Charles indicated that blockchain should be efficiently used for real-world applications. With Vite’s recently activated TestNet, the goal is to make the test closely mimic a real-world environment. Everything that has done by Vite is for the MainNet launch next year.
October 23: Luke attended the Urban Tech Summit — Zurich Meets SF meetup in San Francisco & shared Vite’s experience within the blockchain field with members of the World Economic Forum as well as other guests.
October 23–25: Chris participated in the Fall Summit held by Plug and Play, networking with Fortune 500 companies.
October 30: Richard and Luke met with the Dutch Consulate and discussed the application of blockchain for enterprises and public sectors.
Before we announced incentive plans, many fans have questions about the TestNet. Here we select several questions.
The Super Node campaign is expected to start after mid-November, when the VITE ERC20 token is swapped for the VITE TestNet token.
At present, you would need at least 200,000 votes. When there are more than 20 community super nodes, they will compete for the 20 super nodes slots in accordance with numbers of votes.
3. Super nodes have a minimum requirement of 200,000 votes, is there a limit on the number of people & votes?
There is no limit to the number of people, but there are restrictions on the number of votes-they may not exceed 200,000 votes. When we have super nodes operated by the community, these nodes will compete with each other.
4. The community votes for the super node. If the node does not win the election, how would those votes be processed?
Votes that have already been cast can be modified at any time. You are free to engage in voting for Vite official super nodes (with rewards) or not vote at all.
The super node needs to stake 500,000 VITE and receive 200,000 votes. This aspect is retrievable. If selected into the top 25 super nodes, one can get 3287.67 VITE in rewards per day (currently).
The VITE token for a super node stake will be locked for 3 months. After 3 months, users can initiate the cancellation of the transaction and recover their VITE stake.
Vite Bi-Weekly Report - Nov 1-15, 2018
- Completed development and testing of mnemonics system. Full nodes now support the HD wallet
- POW computing tool function is now live after testing. Regular users may freely obtain quota after doing POW
- Completed development of command-line interface. Currently drafting relevant help docs
- TestNet went live Nov 9. Completed integrated testing and doc writing prior to launch of TestNet 1.0.0
- Upgraded the block explorer, Vite pay, and Vite Store as part of the launch of TestNet 1.0.0
- Launched preview version of Web (version 1.1.0)
- Launched desktop wallet (1.1.0)
- Implemented features of quota retrieval and SBP voting in iOS App 1.1.0, about to submit to iOS App Store for publication
- Launched Block Explorer 1.0.0, with SBP display page and feature optimization
- Developed settlement function for voting
- Designed and developed reward allocation for SBPs
- Developed (and currently testing) ability to convert ERC20 tokens onto the Vite network
- Our TestNet 1.0.0 launched on Nov 9. There are two types of nodes: SBPs (aka Supernodes) and full nodes.
- SBPs can be further categorized as top-25 SBPs and SBP candidates.
- Full nodes can be further categorized as Full-Data Nodes and Full-Function Nodes.
- There are three types of Full-Function Nodes: Full Nodes with API capabilities, Full Nodes that support POW calculations on GPUs, and Full Nodes with Data Resolution.
- Here is a list of live products and services: Web wallet, iOS wallet, Vite Pay, Vite Store, Block Explorer. We are developing other services such as voting rewards and ERC20 conversion gateway.
[Rewards Policy] The TestNet Incentive Plan has been updated. The SBP reward of 30 million VITE tokens per year will be divided into two parts. 50% of rewards will be based on the number of blocks created, another 50% rewards will be based on the number of votes received. In addition to the top 25 SBPs, the following 75 candidate nodes may also receive rewards under this update. The Vite SBP Node Operation Guide has also been launched.
[How to apply] Please visit vite.org for more information. Five candidates have passed the preliminary review.
[Operation Guide] Please visit vite.org for more information about operating a SBP.
[Overseas Design Competition] The final result of ‘Vite Fans Design Competition’ will be announced on November 11th. The T-shirt designs of the first and fourth place will be available on Vite Store soon.
[iOS APP alpha testing] From November 8th to 15th, a hundred community members will be invited to the Vite iOS APP alpha testing. Meanwhile, a special reward of 5000VCP will be made for those who report any bug later verified by our engineers.
- From November 1st to 4th, Vite Labs was invited to attend the 14th Beijing International Finance Expo and showcased its DAG-based blockchain technology.
- On Nov 12th, Director of Business Development Chris attended the Scaling Blockchain conference in San Francisco.
- On Nov 14th, our US team hosted and shared with the developments of blockchain technology to the Swiss representatives who came from UBS, SAP and international insurance companies.
- CoinVoice published its interview with Charles Liu, CEO of Vite. During the 90 minutes interview, Liu shared his understanding of the blockchain industry and discussed how to win in this competitive field.
RE: My Testnet experience
@Richard_Yan then you have not gone through all the write ups of experiences. I see people criticizing the fact that the wallets(web, android and PC) signs you out after a few minutes. Hope that can be sorted out though, apart from that, you fans are pretty cool and you have a cool product too.
Haha gotcha, I guess a new criticism is a lack of being thorough on my part My comment was meant for the above post by @luhe though