Overview

A Next Generation High-performance Decentralized Application Platform.

Project stage

Only a whitepaper

Detailed description

Vite is a generalised decentralized application platform that meets the requirements of industrial applications for high throughput, low latency and scalability while taking into account security. Vite uses DAG ledger structure, and transactions in ledgers are grouped by accounts. 

The Snapshot Chain structure in Vite can make up for the lack of security of the DAG ledger. The HDPoS consensus algorithm, through which writing and confirming of transactions are asynchronous, provides high performance and scalability. The Vite VM is compatible with EVM, and the smart contract language extended from Solidity, providing more powerful ability of description. In addition, an important improvement in Vite design is the adoption of a asynchronous Event Driven Architecture, which transmits information through messages between smart contracts, which greatly improves system throughput and scalability. 

In addition to built-in native tokens, Vite also supports users to issue their own digital assets, and also provides cross chain value transfer and exchange based on Loopring Protocol. Vite realizes resource allocation by quotas, and light users do not have to pay transaction fees. Vite also supports contract scheduling, name service, contract update, block pruning and other features.

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. Commercial Heavy users can be guaranteed sufficient quotas, while lightweight users do not have to pay commissions.

Vite's design of token issuing, token exchanging via loopring protocol and cross-chain protocol constitutes a complete 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.

Problem

The PoW consensus algorithm has better security and has been running well in Bitcoin and Ethereum. However, there are two main problems in this algorithm. The first is to solve a mathematical problem that requires a large amount of computing resources, resulting in a waste of energy. The second is the slow convergence speed of the algorithm, thus affecting the system’s overall throughput. At present, the TPS of the Ethereum is only about 15, which is totally unable to meet the needs of decentralized applications

Solution

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.

Features

DAG Ledger
The hierarchical design of the consensus algorithm allows horizontal scalability in consensus groups.

Asynchronous Architecture
Vite splits transactions into transaction pairs according to a "request-response" pattern. The writing and verification of transactions are asynchronously decoupled, thereby supporting ultra-high throughput.

Message-Driven
With an event-driven architecture, every smart contract is viewed as an independent service. Contracts communicate via messages without sharing state.

Solidity++
Solidity++’s syntax is compatible with most of that of Solidity. The new syntax supports asynchronous semantics, contract scheduling, and provides a series of standard libraries, such as string manipulation, floating-point operations, basic mathematical operations, containers, sorting, and so on.

End-to-end system for value transfer
Vite itself is a decentralized exchange that supports digital asset issuance, cross-chain value transmission, and inter-token transactions based on the Loopring protocol. Users can obtain computing resources in multiple ways. Vite also supports quota leasing.

dApp Mini Programs
The Vite client features an engine for creating HTML5-based decentralized mini programs. This engine simplifies the process of dApp development and deployment.

Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : VITE
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 60,000 ETH
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Currency token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :1,000,000,000 VITE
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :400,000,000 VITE
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Without whitelist
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :No
    Get details
  • Token and Funds Distribution

    Token distribution date

    Jun 15, 2018

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Private Sale: All token issuance is divided into 5 times, 20% each time, one month apart.
          • Team: 2 year lockup
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Private Sale — Ended
      Start Soon
      0.000143 ETH No - Uncapped 400,000,000 VITE
      • Team

        • Chunming Liu photo
          Chunming Liu
          Founder
        • Richard Yan photo
          Richard Yan
          COO
      • Advisors

        • Frank Deng
          CEO of Yunke Network Technology Limited
        • Ming Wu
          Seasoned Scientist
        • Daniel Wang
          Seasoned Blockchain Entrepreneur
        • Li Zhang
          Senior Blockchain Practitioner, Investor
        • Terence Lam
          Veteran Investor

      Roadmap

      • Feb 2018

        Initiation of Project

      • Apr 2018

        System design of Vite, completion of white paper

      • May 2018

        Release the official website / Road show

      • Jun 2018

        Beginning of Vite Core's R&D

      • Oct 2018

        Vite Core alpha

      • Dec 2018
        • Vite Core beta M1: Trading / Issuance of assets / Hierarchical consensus algorithm / Snapshot chain
        • Release Vite SDK
        • Vite Blockchain browser
      • Jan 2019

        Desktop client of Vite

      • Feb 2019

        Alpha version of Vite mobile app

      • Apr 2019

        Vite Core beta M2: Smart Contract / Solidity++ Compiler / Smart Contract API Documentation

      • May 2019
        • Vite Core beta M3: Quota leasing / Contract timing scheduling / VNS naming services
        • Vite dApplet support within Mobile app
      • Jul 2019

        Vite Core beta M4:Loopring / Ethereum cross-chain gateway

      • Aug 2019

        Vite integrated decentralized trading function within Mobile app

      • Oct 2019

        Vite Core beta M5: Contract upgrade / Block pruning / Solidity++ optimization

      • Nov 2019

        Vite Testnet Release

      • Jan 2020

        Vite 1.0 Release

      • Feb 2020

        <>Kickoff of plan for ecosystem development in Vite


      Activity