Vite Labs
Name
Vite Labs
Summary
-Vite runs a smart-contract platform based on the Directed Acyclic Graph (DAG) that offers zero-fee transactions and is optimized for transaction speed, reliability, and security.
-It was founded by Richard Yan
-It employs a Hierarchical-delegated-Proof-of-Stake consensus mechanism.
Rating
Symbol
VITE
Overview
VITE (VITE) is a mineable cryptocurrency that was launched as the Vite platform's native token. Users can utilize the VITE to do simple token transactions and smart contracts on the Vite network by paying VITE for the transaction quota rather than using gas. Voting for Snapshot Block Producers can also be done with VITE. A VITE staker with an unused transaction quota can also lease that quota to dApps in exchange for tokens.
Historical Price Movement (in INR)
Technology
Vite has developed a smart-contract platform based on the Directed Acyclic Graph (DAG) with a Snapshot Chain structure to enable zero-fee transactions and improve transaction speed, reliability, and security. The Snapshot Chain of Vite achieves network consensus through Hierarchical Delegated Proof of Stake ("HDPoS"), with supernodes receiving just staking rewards and no transaction fees. Vite virtual machine is compatible with EVM and uses Solidity++, an asynchronous smart contract language.
Use of Native tokens in the ecosystem: The VITE token (similar to Ethereum's gas) is used to initiate transactions and power smart contracts. VITE can also be used to cast votes for (Snapshot) block producers.
Private Sale tokens
40.43%
Marketing tokens
10%
Ecosystem Development
23.57%
Team tokens
20%
Airdrop tokens
5%
Advisor tokens
1%
Volume ( as of 17th May 2022)
$2,455,928
Total Supply
1,033,573,237 VITE
Circulating Supply
506,651,918.93 VITE
Crowd Sales
N.A.
Funding
N.A.
Country
China
Year Incorporated
2018
Registered Address
N.A.
Dispute Resolution and Governing Law
China
Country Risk Assessment
A2
Founding Team
| Name | Designation | Education | Experience |
| Richard Yan | Co-Founder | Dartmouth College: BA, Computer Science and EconomicsNYU Stern School of Business: Master of Business Administration (MBA), Finance, General | 18 Yrs |
Whitepaper 
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