VLX

1. Project introduction

Velas is an EVM blockchain and open-source platform for decentralized projects and applications, processing up to 75,000 transactions per second with instant finality, extremely low fees and Solidity support.

Inspired by the values of Web 3.0 and Blockchain technology, the team created Velas, a project that combines Blockchain and innovative technologies to create a transparent, community-driven, and decentralized ecosystem of products and services. Realizing social needs and aiming to become the industry standard, Velas is designed to be a blockchain platform suitable for thousands of applications and services to be built upon. To resolve the scalability issue, Velas is built based on Solana complementing it with additional features and innovations as supporting compatibility with Ethereum Virtual Machine (EVM). Velas provides its own passwordless authentication system, allowing users to securely access a variety of services without a password using just their Velas Account, while introducing unique authorization quotas to minimize risks.

Velas is based on DPoS economics that provides participants with the most favorable conditions for interaction with each other and motivate them to act for the benefit of the network.

2. Application

Token Velas (VLX) is used for transactions, payments, fees and for supporting Proof-of-Stake consensus.