Vite

Vite is described as 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. Vite Snapshot Chain uses Hierarchical Delegated Proof of Stake (HDPoS) to reach network consensus, while super nodes only receive staking rewards and no transaction fees. The Vite virtual machine maintains compatibility with EVM and uses the asynchronous smart contract language Solidity++.

VITE (VITE) is a minable cryptocurrency and is launched as the native token of the Vite platform. VITE token is the currency for users to execute simple token transactions and smart contract on the Vite network by paying VITE for the transaction quota instead of consuming gas. VITE can also be used to vote for Snapshot Block Producers. Additionally, a VITE staker with unused transaction quota can lease such quota to dApps in exchange for their tokens.

• Vite uses the DAG ledger structure and transactions in the ledgers are grouped by accounts. The Snapshot Chain structure in Vite can compensate for the security flaws of the DAG ledger.

• The HDPoS consensus algorithm, thanks to which the recording and confirmation of transactions are asynchronous, provides high performance and scalability.

• The Vite virtual machine is compatible with the Ethereum virtual machine, the smart contract language is an extended version of Solidity, which provides a more powerful ability to describe.

• In addition, an important improvement in the development of Vite is the introduction of asynchronous Event Driven Architecture, which transmits information through messages between smart contracts, which significantly increases the throughput and scalability of the system.

• In addition to internal native tokens, Vite supports users to issue their own digital assets, and also provides cross-chain transfers and exchanges based on the Loopring Protocol. Vite implement

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.