Velas is the EVM blockchain and open-source platform for decentralized projects and applications, processing up to 75,000 transactions per second with instant finality, extremely low fees, and Solidity support. Velas is designed to eliminate the scaling and usability issues that often come along with cryptocurrencies.
Token Velas (VLX ) is used for transactions, payments, fees, and for supporting Proof-of-Stake consensus. Staking allows block producers (validators and their delegators) to provide transaction consensus and receive staking incentives for honest block production.
Why Velas (VLX) Unique?
EVM — supports all smart contracts and dApps built on the Ethereum stack.
Instant, low-cost transactions - extremely efficient performance at a fraction of the cost.
Velas Account - passwordless solution that facilitates interaction with blockchain apps to the level of Google account and PayPal-like convenience, without sacrificing user's security.
Access Management - a decentralized access management system, which allows users to control access to files on IPFS using multiple encryption types.
Velas Vault - a novel solution to store secrets and private keys. This enables various use cases, such as decentralized custody solutions of assets native to other blockchains (BTC, ETH, ERC-20, etc).
Velas Wallet - multi-currency wallet with staking functionality.