Review on VITE by David Olayide

Name: VITE
Item: VITE
Rating: 3

March 08, 2021

VITE Network Revolutionary Tech

Vite is a DAG based smart contract cryptocurrency platform that is built with a structure to facilitate zero-fee transactions and optimize transaction speed, reliability, and security. As can be expected, there is an in built token called the VITE token. VITE is the native currency mostly used for simple transactions and smart-contract executions on the Vite network. I discovered that users can stake VITE for transaction quota instead of consuming gas. VITE can also be used to vote on the network.

Vite is more like a small ecosystem if you look at it from that angle. It has a decentralized exchange called ViteX, a payments platform known as VitePay, and the  government & enterprise blockchain applications VitePlus. The plan is to broaden the scope of services they offer to the target public and also expand their reach. The original aims of Vite is to provide a reliable and highly secure platform, capable of performing free transactions and having fast transaction speeds.

In order to achieve this the project initiates the use of unique technology. I am particularly impressed that such as project as Vite which does not yet have the prestige and power of bigger cryptocurrencies, can also manage more about 3 different self developed products or affiliated projects on the Vite network. With a circulating supply of 475,652,100 coins and a total maximum supply of 1,008,223,211 tokens I do not doubt the potentials that the project might achieve to in the nearest future.

If you have been wondering how you can get your hands on some of the token, then, you should know that it can be purchased on major exchanges like Binance, OKEx, and Bittrex. To mine VITE, you may run a Snapshot Block Producer on the Vite network, and receive block rewards in the form of the annual inflation of 30 million VITE coins. You may also run a full node and receive VITE rewards from the Vite foundation too.

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Pros