Bittrex International is a leading cryptocurrency exchange based in the United States. As of January 15th at 9:30 AM PST, VITE is confirmed for listing on this trading platform. Bittrex is renowned for its daily trading volume, reputation for security and focus on regulatory compliance.
YEAR IN REVIEW | May 2018 to Crypto Winter
In mid-2018, Vite Labs closed funding through institutional capital without conducting a public crowd sale (ICO). Within six months, we built a team of 40 people in Beijing, Sunnyvale and San Francisco. We never outsourced talent and conducted no cosmetic marketing; our team insisted on doing the right thing and, this is attitude of honesty and humility is paying off.
2018 was marked by speculative projects and investments, culminating in the recent bear market which we know as Crypto Winter. Bear markets are good for solid companies with sound technologies; we treat market volatility, including downturns in the overall blockchain industry, as positive moments in which mediocrity and hype are decimated.
TECHNOLOGY | Full Set of Products, Not Just One
We have a decentralized ecosystem of blockchain solutions: a web wallet, iOS and Android wallets, decentralized exchange (DEX), online store powered by VITE, payment infrastructure without time lags nor fees, point of sale (POS) solution for merchants, smart contracts, one-click token issuance and a platform for decentralized applications (dApp).
Our Test Net officially launched in November of 2018 and we expect our Main Net significantly ahead of schedule. Overall, our product team expedited the technical roadmap by an entire year.
As a Directed Acyclic Graph (DAG) and Delegated Proof of Stake (DPOS) based blockchain, we had to address known security issues of DAG. Consequently, we invented the Snapshot Chain which is an overall ledger of all chains at the Local Consensus level (smart contracts and individual accounts) that maintains Global Consensus regardless of vulnerabilities within each smart contract and account.
2019 GOAL | Socially-Meaningful Use Cases
We focus on public sector and academic demographics because they control policy and education. It is commonly known that blockchain is applicable to enterprise use cases, particularly payment solutions, but we believe in serving a larger cause for mass adoption.
By educating and assisting governments, specifically for blockchain adoption and investment, we hope to accelerate mass adoption on a socially meaningful level.
By training and resourcing academics, particularly students and professors, we hope to create newly minted developers and curricula for blockchain mass adoption.
Our partnership with the City of Syracuse Innovation Office, through Startup-In-Residence, is a manifestation of our belief in proving social use cases. We are exploring the utility of blockchain in creating a peer to peer micro loan platform to connect low income renters with people willing to provide short term loans without interest, for security deposits and other emergency housing funds. We are among 40 companies selected from 700 to work with 22 governments.