Vite has built a Directed Acyclic Graph (DAG) 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, while supernodes take only staking rewards and no transaction fees. Vite virtual machine maintains compatibility with EVM, and utilizes asynchronous smart contract language, Solidity++.
The VITE token is the currency for simple token transactions and smart-contract executions on the Vite network, with users staking VITE for transaction quota instead of consuming gas. VITE can also be used to vote for Snapshot Block Producers (aka supernodes). In addition, a VITE staker with unused transaction quota can lease such quota to dApps in exchange for their tokens. For instance, users can stake VITE in exchange of ViteX’s native decentralized exchange token, VX.
Vite’s current products include a decentralized exchange (ViteX), a multi-purpose wallet application (Vite App), payments (VitePay), and government/enterprise blockchain applications (VitePlus):
- ViteX is a decentralized exchange with on-chain orderbook 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.
- VitePlus is a Vite-based enterprise blockchain solution for governments and enterprises. Vite has developed a pilot app, SyraCoin, for the Syracuse government, allowing city housing fund donors to receive blockchain-based coupons that are redeemable for goods and services within city bounds.
**How can you buy or mine VITE?
You may purchase VITE at major exchanges such as Binance, OKEx, and Bittrex. To 'mine' VITE, you may run a Snapshot Block Producer (aka supernode to partake in the HDPOS consensus process) on the Vite network, and receive block rewards in the form of the annual inflation of 30 million VITE coins. You may also run a full node and receive VITE rewards from the Vite foundation.
**Supply Distribution
Private Sale tokens comprise 40.43% of total supply. It was conducted in May 2018 for 404.33MM VITE at a rate of 7,000 VITE = 1 ETH and raised a total of 57,762 ETH (~$40.43MM) at ~$0.10 per token, selling 40.43% of the total token supply.
- Marketing tokens comprise 10.00% of total supply.
- Ecosystem Development tokens comprise 23.57% of total supply.
- Team tokens comprise 20.00% of total supply.
- Airdrop tokens comprise 5.00% of total supply.
- Advisor tokens comprise 1.00% of total supply."
How to Buy VITE on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing VITE. Some reputable platforms include LBNK, Okx, Kraken, and others.
Step 2: Register an Account
Here, we'll register an account on the OKX (registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing VITE.
Step 5: Purchase VITE
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of VITE you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy VITE.
Step 6: Store Your VITE
After purchasing, you can choose to store your VITE in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and VITE assets, be sure to use a strong password and enable two-factor authentication.
VITE Price:Vite has built a Directed Acyclic Graph (DAG) based smart-contract platform, with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. The price fluctuates daily, and as of March 30, 2024, the highest price for VITE was $0.3486
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