The Fastest EVM Chain to Compete With Ethereum 2.0
Velas is the fastest EVM/eBPF blockchain that enables the building of decentralised applications and smart contracts on its mainnet. Velas solved the blockchain trilemma: scalability, decentralisation and security, but also provides interoperability between different chains. This is obtained through multiple solutions, including forking from Solana and applied to the EVM world. It supports Solidity, thus any smart contracts built on Ethereum network can be ported to Velas without additional modifications. Transactions, and transaction fees through Velas are instant and low cost, with 400ms blocktime and $0.00001 fee per transaction. Velas provides multiple products for users such as accounts, vaults and wallets. Velas vaults enable users to delegate the security of their passwords, keys and seed-phrases to various authentication services such as Google Authentication and Apple Authentication, without exposing the whole security data to a particular service. This enables account recovery, however it prevents a single authority to undermine the data security.
Velas Coin or VLX is the utility coin used within the Velas Ecosystem. VLX can be used for staking in order to validate or delegate validators, to secure the network and receive rewards for the effort. VLX is also required when users want to access services offered by Velas Ecosystem such as BitOrbit. At the same time, VLX can also be traded and stored as investments similar to other cryptocurrencies. There is a total of around 2 billion VLX supply, with an inflation rate of 8% annually.