About Vite blockchain
Vite has built the world’s first DAG (Directed Acyclic Graph) based smart-contract platform, with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The Snapshot Chain of Vite utilizes Hierarchical Delegated Proof of Stake (“HDPoS”) to achieve network consensus.
Vite’s current products include a trustless DEX (ViteX), a wallet-centric super-app (Vite App) and a Vite-based payment rail (VitePay):
- ViteX is a decentralized exchange with an on-chain order book and matching engine and supports currently 20+ digital assets.
- Vite App is a mobile application that allows trading (ViteX), asset management (wallet), DApps (e.g., Vite-based games) in one place.
- VitePay is a fast and feeless payment solution, currently available to use in Singapore’s Ce La Vi Sky Bar and taxi services under the Midwest Global network. Users can pay for merchants with Vite wallet, who in turn receive payment with zero fees with near-instant settlement. VitePay is also integrated with the e-commerce platform OpenCart, and one can utilize VitePay at the official Vite store.
Vite’s next ambition is ViteBridge, a universal cross-chain solution that allows easy asset transfer between any two chains in a decentralized manner.
Mainnet is released on Sep 25, 2019.
The VITE token is the currency for simple token transactions and smart-contract executions on the Vite network.