VLX
Reputation Ratings

VLX

Velas 5-10 years
Cryptocurrency
Website https://www.velas.com/
Browser
OTH RELPs
Github
White Paper
VLX Avg Price
0.00%
1D

$ 0.0126 USD

$ 0.0126 USD

Market Cap

$ 31.512 million USD

$ 31.512m USD

24h trading volume

$ 764,713 USD

$ 764,713 USD

7d Vol

$ 6.697 million USD

$ 6.697m USD

Circulating supply

2.6393 billion VLX

Related information

Issue Time

2019-09-18

Platform pertained to

--

Current price

$0.0126USD

Market Cap

$31.512mUSD

Volume of Transaction

24h

$764,713USD

Circulating supply

2.6393bVLX

Volume of Transaction

7d

$6.697mUSD

Change

24h

0.00%

Number of Markets

90

Github Messages

More

Warehouse

Velas AG

Github's IP Address

[Copy]

Codebase Size

16

Last Updated Time

2020-12-18 15:35:32

Language Involved

--

Agreement

--

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Current Rate0

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VLX Price Chart

Introduction

Markets

3H

0.00%

1D

0.00%

1W

0.00%

1M

+157.27%

1Y

+65.27%

All

-54.86%

No data

Note: VLXs official site - https://www.velas.com/currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this token.

Short nameVLX
Full nameVelas
Support exchangesBinance, Huobi, KuCoin, Gate.io, MEXC Global, Bitrue, Bitget, LBank, AEX, BitMart
Storage WalletMetaMask, WalletConnect, Binance Chain Wallet, Trust Wallet, imToken, TokenPocket, MathWallet, SafePal, BitKeep, Coin98
Customers ServiceWebsite, Announcements, Whitepaper, FAQ, Social Media

Overview of VLX

Velas stands as a powerful blockchain platform that seamlessly blends the strengths of centralized and decentralized technologies, delivering a robust solution characterized by speed, security, and scalability. At its core lies an AI-powered Delegated Proof of Stake (AIDPOS) consensus mechanism, meticulously crafted to optimize both security and transaction throughput. This innovative approach makes Velas an ideal platform for a diverse range of applications, spanning the realms of finance, entertainment, and decentralized applications (dApps).

Overview of VLX

Pros and Cons

Pros Cons
  • AI-Powered AIDPOS Consensus
  • Relatively New Project
  • Community-Driven Development
  • Limited Exchange Listings
  • Active Ecosystem
  • Price Volatility

Velas presents a promising blockchain platform with innovative features and a focus on scalability and versatility. However, its relative newness, limited exchange listings, price volatility, and competitive landscape are factors to consider for potential users and investors.

What Makes VLX Unique?

Velas differentiates itself through its innovative AIDPOS consensus mechanism, focus on scalability, versatility across various applications, commitment to community-driven development, and a thriving ecosystem. These factors position Velas as a promising contender in the blockchain space, offering a unique blend of features and a promising outlook for the future.

What Makes VLX Unique?

How does VLX Work?

Velas (VLX) functions as the native token of the Velas blockchain platform. Here's a breakdown of how VLX plays a role in the Velas ecosystem:

  • Transaction Fees:
    • Similar to other blockchains, Velas requires users to pay transaction fees to compensate validators for securing the network and processing transactions. These fees are denominated in VLX, incentivizing users to hold and utilize the token.
    • Staking and Network Security:
      • Velas utilizes a Delegated Proof-of-Stake (DPoS) consensus mechanism with a unique twist – Artificial Intelligence (AI). This AI-powered DPoS, called AIDPOS, relies on VLX token holders to delegate their voting rights to validators.
      • Validators are responsible for validating transactions and securing the network. By staking their VLX tokens, they have the opportunity to earn rewards based on the fees collected. This staking mechanism incentivizes users to participate in securing the network and maintaining its integrity.
      • The AI component of AIDPOS dynamically adjusts the number of validators based on network conditions, optimizing security and efficiency.
      • Governance:
        • VLX token holders play a role in the governance of the Velas platform. They can participate in voting on proposals that influence the future development of the network, such as upgrades, fee structures, and protocol changes. The voting power is typically proportional to the amount of VLX tokens held.
        • Access to Network Services:
          • Holding VLX can grant users access to various services within the Velas ecosystem. This might include features like decentralized storage, identity management, or participation in decentralized applications (dApps) built on the Velas blockchain.
          • Value Capture and Appreciation:
            • As the Velas ecosystem grows and adoption increases, the demand for VLX could potentially rise. This could lead to an appreciation in the value of the token. However, it's important to remember that the cryptocurrency market is inherently volatile, and the price of VLX can fluctuate significantly.

            In essence, VLX serves as the fuel that powers the Velas ecosystem. It facilitates transactions, incentivizes network participation, and grants users governance rights and potential access to various services. The value of VLX is tied to the overall success and adoption of the Velas platform.

            Market & Price

            As of June 23, 2024, Velas (VLX) has a market capitalization of $25.245 million, ranking it #735 on CoinMarketCap. The current price of VLX is $0.009696, with a 24-hour trading volume of $653,898. The circulating supply of VLX is 2,603,544,136 tokens, and the maximum supply is not available.

            VLX has experienced significant price fluctuations since its launch in 2020. The all-time high price for VLX was $0.569, reached on January 4, 2022. The current price is 98.30% lower than the all-time high.

            Here are some of the factors that could influence the future price of VLX:

            • Overall market conditions: The cryptocurrency market is highly volatile, and the price of VLX is likely to move in tandem with the broader market.
            • Adoption of the Velas platform: If the Velas platform is adopted by more users and developers, the demand for VLX could increase, which could lead to a price rise.
            • Competition from other blockchain platforms: There are many other blockchain platforms vying for market share, and the success of Velas will depend on its ability to differentiate itself from the competition.

            Overall, Velas (VLX) is a relatively new and volatile cryptocurrency with a promising underlying technology. The future price of VLX will depend on a variety of factors, including overall market conditions, adoption of the Velas platform, and competition from other blockchain platforms.

            Exchanges to Buy VLX

            Here are some of the most popular exchanges where you can buy VLX:

            • Binance: One of the largest and most reputable cryptocurrency exchanges globally.
            • Huobi: A well-established exchange known for its wide variety of cryptocurrencies.
            • KuCoin: A popular exchange known for its user-friendly interface and support for a wide range of altcoins.
            • Gate.io: A growing exchange offering a variety of cryptocurrencies and trading features.
            • MEXC Global: A reputable exchange with a focus on spot and margin trading.

            How to Store VLX ?

            There are several options for storing your VLX tokens, each offering varying levels of security, control, and convenience. Here's a breakdown of some popular storage methods:

            • Centralized Exchanges (CEXs):
              • Convenience: The easiest option for beginners. Many exchanges that support VLX trading also offer built-in wallets for storing your tokens. This allows for easy buying, selling, and trading of VLX within the same platform.
              • Security: While generally secure, CEXs hold your private keys, introducing an element of centralization risk. If the exchange is hacked, your tokens could be lost.
              • Software Wallets:
                • Convenience: Relatively easy to use and readily available for download on various devices (computers, smartphones). Offer more control over your private keys compared to CEXs.
                • Security: Security depends on the specific wallet you choose and how you manage it. Choose a reputable wallet provider with strong security features and practices (e.g., password protection, multi-factor authentication). Remember, if you lose your private key, you lose access to your VLX.
                • Hardware Wallets:

                  • Security: The most secure option. Hardware wallets store your private keys offline in a tamper-proof device, significantly reducing the risk of hacking or theft.
                  • Convenience: Less convenient than other options. Typically require a physical connection to your computer for transactions and can be more expensive than software wallets.
                  How to Store VLX ?

                  Is It Safe?

                  In essence, the Velas blockchain shows potential, but the security of your VLX investment is influenced by various elements. By being aware of possible risks and implementing proper safeguards, you can reduce the likelihood of investment loss. The key is to approach your VLX holdings with a balanced understanding of both the blockchain's capabilities and the necessary precautions for cryptocurrency ownership.

                  Conclusion

                  Velas (VLX) offers a compelling proposition as a high-performance blockchain platform. Its AI-powered AIDPOS consensus mechanism promises enhanced security and scalability, making it suitable for a wide range of applications. However, the platform's relative newness and the inherent volatility of the cryptocurrency market warrant careful consideration before investing in VLX. Thorough research and a focus on secure storage practices are crucial for mitigating potential risks.

                  Frequently Asked Questions

                  What is Velas (VLX) used for?

                  VLX is the native token of the Velas blockchain. It fuels transactions, incentivizes network participation through staking, and grants holders voting rights in the platform's governance. Additionally, VLX might be required for accessing certain services within the Velas ecosystem.

                  Where can I buy VLX?

                  Popular exchanges like Binance, Huobi, KuCoin, Gate.io, and MEXC Global currently list VLX for trading.

                  How can I store VLX securely?

                  You have several storage options for VLX, each with varying security levels and convenience. Centralized exchanges offer ease of use but hold your private keys. Software wallets provide more control but require user responsibility for security. Hardware wallets offer the highest security by storing your private keys offline in a tamper-proof device.

                  Risk Warning

                  Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.

User Reviews

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1 ratings

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Lala27
Velas is the fastest blockchain in the world. Transactions on Velas happen at a fast pace and great user experience. It is highly recommended to the newbie in crypto
2023-10-23 09:32
2