What is $VITE ❓
Vite is a next-generation Reactive Blockchain that adopts a message-driven, asynchronous architecture and a DAG-based ledger with smart contract mechanism. The goal for Vite’s design is to provide a reliable public platform for powerful dApps, with features of ultra-high throughput and scalability.
The most important innovation of Vite is its asynchronous architecture.
The following are the main asynchronous characteristics in Vite’s designs:
• Asynchronous model of requests and responses
• Asynchronous model of writing and confirmation of transactions
• Asynchronous model of communications between contracts
In addition, Vite makes use of a DAG ledger structure called block-lattice, which has far better performance than the traditional blockchain structure. To make up for the inherent security deficiency of the DAG structure, Vite incorporates the Snapshot Chain technology.
Vite's consensus algorithm, called HDPoS, is a hierarchical consensus algorithm with low latency and high scalability.
In order to accommodate the existing ecosystem, the Vite virtual machine maintains maximum compatibility with EVM, while providing a more powerful smart contract language, which we call Solidity++.
Vite's original quota-based resource model and resource-leasing function ensure that system resources get allocated with maximum efficiency. Heavy users can be guaranteed sufficient quotas, while lightweight users do not have to pay commissions.
Vite's design of token issuance, token exchanging via Loopring protocol and cross-chain protocol constitutes a closed-loop value system. Users can conveniently issue, store and exchange their digital assets in Vite system.
In the future, Vite’s mobile app will come with an HTML5 engine for creating dApplets (Decentralized Applets). Smart contracts on the Vite platform and corresponding SDK support will make it easy to develop and deploy dApps on Vite.
