Vite

DPOS와 DAG기반의 블록체인 플랫폼

home link https://www.vite.org/

reference material

Community

Exchanges that listed the coin
4
Symbol
VITE
Dapp
To be released
Project introduction

Vite는 프랑스어로 '빠르다.'라는 의미를 갖고 있습니다. 스마트 계약 기능을 갖춘 최초의 DAG+DPOS 기반의 퍼블릭 체인으로 원 클릭 토큰 발행 및 스마트 컨트랙트 기능을 제공합니다. 바이트는 높은 처리율과 낮은 지연성 그리고 확장성을 위한 산업 어플리케이션의 요건을 만족시키는, 그리고 동시에 보안 문제를 고려한 플랫폼입니다.

Executives and partners

Charles Liu

CEO

Richard Yan

COO

Frank Deng

Director of Vite Foundation

Bitmain

OK Blockchain Capital

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Medium

Vite Bi-weekly Report

Sep 1–15, 2020Project UpdatesVite AppA major Vite App update, v3.8, is under development and will be released soon. The new release will have a significant user experience improvement close to centralized exchanges.Vite App v3.8 will have the following new features and enhancementsImprove the layout of asset page. Replace “My Account” with “Exchange Asset”, which is sub-categorized into “Wallet Account” and “Trading Account” to facilitate users to check asset portfolio;Move the “Account” page to the upper left corner of the app;Separate “Wallet” and “Exchange” to avoid confusion. In the previous version, users can view “Wallet Asset” and “Exchange Asset” on the homepage, and switch through in a secondary tab opened. The new version will only display “Wallet Asset” on the homepage and “Exchange Asset” will not show up anymore;Enhance connection performance. Improve the data loading speed on slow internet.Desktop walletNew Vite desktop wallet version 1.4.2 was released, with security optimizations.Compared to the web wallet, the desktop wallet has more strict security settings and is recommended for use.Installation link: https://github.com/vitelabs/vite-wallet/releasesViteX ExchangeNew features and enhancementsHummingbot (https://github.com/CoinAlpha/hummingbot — Connect to preview ) integration. After the integration is complete, you can run a trading robot through Hummingbot for strategic trading or liquidity mining on ViteX.Network OptimizationRecently, we have carried out an important network upgrade to Vite’s websites and API services under vite.net and vitex.net, to improve connection performance and prevent large-scale DDoS attacks. The optimization includes:Optimized network routing and improved the access speed from major countries in the world;Deployed CDN services to improve the loading speed of static resources;Enabled caching to reduce API latency and prevent from DDoS attack;Added firewall rules against DDoS attack.Recent MilestonesViteX Launching One-Year Anniversary Dual CampaignIn celebration of mining on ViteX reaching its first-year anniversary, we launched two mining-related campaigns on Sep 9. Users will receive 10X mining rewards during the event and have a chance to get a free ViteX referral code.As of Sep 9, total amount of mining exceeds 10 million VX, and users have received proceeds of 96 BTC, or roughly 1 Million USD.https://medium.com/vitelabs/vitex-launching-one-year-anniversary-dual-campaign-aa4956b5d77fVite Techie ClubTo expand our global tech community, we have launched a “Call For Vite Techies” campaign. We humbly call for community developers to work with the Vite dev team and participate in all aspects of development in the Vite ecosystem, including the Vite public chain, wallets, ViteX exchange, SDKs, tools, and more.We are absolutely delighted to welcome the 20 developers from our global community that have joined the Vite Techie Club so far.Vite Techie Forum will be held regularly online for everyone interested in Vite tech. The Opening Forum, discussing the decentralization of ViteX gateways, will live on Sep 22. Let’s create something cool!https://medium.com/vitelabs/call-for-vite-techies-c64201090a9cVite Tech SeriesOn Sep 9, we published another educational material of ViteX tech explorations, also the 9th article of our Tech Series, that focused on the execution process and interactions of ViteX smart contracts and the user.https://medium.com/vitelabs/tech-series-9-five-charts-to-understand-how-vitex-works-61541a1364d7ViteX ExchangeViteX Launched Minable, Feeless Stablecoin ConversionStarting Sep 3, users can trade USDC/USDT, DAI/USDT, BUSD/USDT pairs with 0 trading fees, mining eligible.ViteX Listing Arweave (AR)On Sep 9, ViteX Operator Vite Labs listed Arweave(AR) and opened trading pair AR/USDT, market-making as mining eligible.Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to store data, preserve valuable information, apps, and history indefinitely.Data on ViteXAs of Sep 14, 23,091,652 VITE have been burned through ViteX, accounting for 2.23% of total issuance.119,910,726 VITE are staked on ViteX, accounting for 11.99% of total issuance.11,183,727 VX have been mined, of which 9,405,217VX (about 84.09%) are being staked for dividends.To-date, 101.2 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 31.6 BTC.ActivitiesOn September 9, Vite CPO Blackey Hou held a live video AMA with the Chinese community, where he discussed the one-year anniversary of the launch of mining on ViteX.You may watch the replay here: https://www.yizhibo.com/l/viJfuCApPOf4Xts2.htmlCOO Richard ran a new AMA for the international community. Main questions answered include: the types of coins suitable for listing on ViteX, proposals regarding VITE un-staking, how ViteX can maintain its advantages, and comparison of ViteX against other DeFi projects.You may read the AMA summary here: https://forum.vite.net/topic/4173/vite-labs-leadership-ama-sep-10-2020-reviewCOO Richard’s show ”The Blockchain Debate Podcast“ has published 15 episodes since it was started at the end of 2019. Topics include digital gold attribute of cryptos, practical use cases of smart contracts, usability of enterprise blockchains, sustainability of liquidity mining, and so on. This show is a way for the Vite team to build relationships with other thought leaders in the space.Some topics being planned include central bank digital currencies, central bank policies such as Modern Monetary Theory, and legitimacy of stablecoins. Recommendations of topics from the community are welcome.All episodes are available here: https://blockdebate.buzzsprout.comYou are welcome to follow Richard and the podcast here: Twitter.com/gentso09 / Twitter.com/blockdebateOfficial: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 18

Vite Insights #4: What Type...

Our gateways constantly receive recommendations of prospective coins from our community. We hope this article will shed some light on the types of coins these gateways find interesting.TL;DR: The best coins for the gateways tend to meet four criteria: no presence on major exchanges, loyal community, active github, and the “it” factor.Lack of Presence on Major ExchangesThis one should be quite obvious. If a coin is already on Binance or Coinbase, it is generally difficult to attract liquidity away from these major platforms.But these exchanges do not have a monopoly on the world’s worthy coins, simply because large exchanges don’t have the bandwidth to be fully aware of the vast number of quality projects out there. Indeed, some projects refuse to be listed on these major platforms for a variety of reasons (Digibyte initially declined to list on Binance, for example).Active OTC trading is a great area to look, because this implies high interest in trading.Loyal CommunityThe number of followers/subscribers in the various social channels (Telegram/Twitter/Discord) is not as important as the quality of the community. To get a sense of the true following of the project, one must look at the activity of the users (are they asking meaningful questions?), the experience level of the users (are there whales showing interest? Endorsement by legitimate industry players?), and the speed at which the community is organically growing.If a project has a miner community, that’s a positive sign because these stakeholders have incurred considerable sunk cost and will likely continue to support the ecosystem.Older projects also have communities. The fact that they were delisted by major platforms exposes an opportunity for smaller exchanges. For example, PASC got delisted by Poloniex, and Gridcoin got delisted by Poloniex and Bittrex.Active GithubThere should be at least some software commits in the last two months. Here, the commits must be indicative of serious, not symbolic development efforts. The more developers, the better. Developers with frequent media exposure would also be a plus. The amount of forks and stars are also indicative of developer interest in this project.“It” FactorSome projects have a distinctive concept or model, are well related to current trends, or have connections with well-established projects. For examples, see some recent DeFi projects.We hope this article provides some insight into the coins ViteX gateways are particularly interested in. We look forward to your continued recommendations.Submit a Listing Recommendation: https://forms.gle/krgsR48AfMRNpkD17ViteX Official: https://vitex.net/Telegram: https://t.me/vitexexchangeTwitter: https://twitter.com/ViteXExchangeVite Forum: https://forum.vite.netVite Insights #4: What Types of Coins are ViteX’s Gateways Looking For was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 17

Shape the Future of Vite!

The First Vite Techie Forum EventDear Community,Vite is two years old now. Thanks for your accompany and support so far. Since Vite’s earliest days, we have developed a reputation for our strength and innovation in tech. We have been asked so many times by enthusiastic community members and developers to participate in the tech discussions with Vite core devs, so they can contribute great ideas and even write code. As such, we are pleased to announce the launch of Vite Techie Forum, a series of regularly-held, text-based online discussion events, where we invite all technocrats to incubate Vite’s future plans!The topic of the first Vite Techie Forum will be Decentralization of ViteX gateways. We are glad to invite two core dev members, Viteshan and Wills Lee, to join the discussion. Here are details:What will the next generation of ViteX gateway look like? What are some existing solutions to learn from, or should we create something largely from ground up? Will this be a multi-sig or atomic swap solution? Will smart contracts be used? How about relay chain and witnesses?Meet us, at 15:00, September 22, HKT, on Discord.Channel: #vite-techie-forumVite Discord Link: https://discord.gg/f8G5ah7Rules:The forum will begin at the scheduled time. The length is 1 hour. You can post questions/comments in the channel prior to the start time, but the content should be aligned with the topic.Do not spam. Unrelated content is disallowed and will be removed.Be polite. Show respect to others.Shape the Future of Vite! was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 15

Tech Series #9: Five Charts...

In the previous articles, we have introduced ViteX from many perspectives of contract design, matching engine, backend service, decentralization, etc. As one of the following educational material of ViteX tech explorations, this article will focus on the execution process and interactions of ViteX smart contracts and the user. Enjoy.1 Functional ModuleThe ViteX decentralized exchange includes the on-chain data source vDex and the off-chain data service DexServer. As shown in the figure below, Wallet Gateway, Token Issuance, and DEX Manager are on-chain modules. Users can either map cross-chain tokens to the Vite chain through gateways or issue Vite-native tokens directly, then transfer the tokens to the exchange for trade. DEX Data Processor and Data Collection are off-chain modules. They collect data from full nodes, conduct data processing and indexing, and provide aggregated data service to the user. Specifically, DEX Manager handles deposit, withdrawal, trading, new trading pair opening, Data Collection crawls the chain to capture on-chain events, and DEX Data Processor is responsible for providing the service.Assets traded on ViteX have two types. One is token issued on the Vite chain, such as VITE, VX, EBLX-000; another is cross-chain tokens like ETH-000, BTC-000, USDT-000. The cross-chain tokens are native coins of other public chain and need to be mapped to Vite tokens before they can be traded on ViteX.2 Functional DetailsFunctional details are explained in the following sections.2.1 Contract DesignViteX adopts a multi-contract scheme, which is helpful to build a clear business model and avoid the potential performance bottleneck of single-contract, especially taking into account the large trading volume in the future. In addition, this design also facilitates data pruning.The design consists of two built-in contracts. Contract Fund is responsible for asset deposit, withdrawal, settlement, lock, unlock, mining, dividends, etc., while the orders are actually matched in Contract Trade. The interaction flow is as follows:User A sends 1 BTC-000 to the exchange account in Contract Fund. This is represented as a function call to the contract;User A signs an order placement transaction and sends to Contract Fund. The contract verifies the transaction and locks the BTC-000 if the verification has passed. Otherwise, the order placement fails;Contract Fund calls Contract Trade to place the order;Contract Trade puts the order on the order book;Step 5 to 8 repeats the order placement process for another User B. In step 8, the order placed by User A will be taken if the price has matched. We will look into the matching process in next section.2.2 Order MatchingThe order maching process is shown in the following diagram.User A first sends 1 BTC-000 to Contract Fund;User A sends a function call to Contract Fund to place an order to buy 10,000 VITE with 1 BTC-000;After the order placement transaction is verified, Contract Fund calls Contract Trade to place the buy order;Contract Trade actually places the order on the order book;User B sends 5,000 VITE to Contract Fund;User B sends a function call to Contract Fund to sell the 5,000 VITE to 0.5 BTC-000;Contract Fund calls Contract Trade to place the sell order;Contract Trade matches the order with the buy order of User A. When it completes, 5,000 VITE and 0.5 BTC-000 are respectively sent to the accounts of User A and User B in Contract Fund (Trading fees are not taken into account in the example). At this time, B’s sell order is fully filled and removed from the order book, while A’s buy order is partially filled and will remain on the order book at the moment.2.3 Order CancellationOnly pending (unfilled or partially filled) orders can be canceled. Attempt to cancel a filled or canceled order will cause an error.Steps 1 to 4 represent the order placement process of User A;In step 5, User A signs an order cancellation transaction and sents to Contract Fund;After the order cancellation transaction is verified, Contract Fund calls Contract Trade to cancel the order, the latter will remove the order from the order book;Contract Trade unlocks the assets and returns to the account of User A in Contract Fund.2.4 SettlementOn ViteX, wallet balance and exchange balance are different. Trading is related to exchange balance. When you transfer assets to another user or withdraw through a gateway, you should move the assets from the exchange account to the wallet first.In step 8 of last chart, User A signs a withdrawal transaction and sends to Contract Fund;After the withdrawal transaction is verified, the assets are moved to the user’s wallet from the exchange.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enTech Series #9: Five Charts to Understand How ViteX Works was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 10

Updated List of SBP Who Pay...

Earn the best voting returns!At Vite, voting for SBP is one of the most important methods to earn VITE. Unlike the other means, voting does not lock your assets and is easy to operate. By September 8, 2020, there are a total of 114,172,380 VITE coins voted for the 37 SBPs in the Vite MainNet, taking more than 10% of the total supply, approximately 20% of the circulating supply.However, not all the SBPs pay voting rewards to their supporters, and not every SBP pays the same. Since the list will be updated from time to time, it’s necessary to watch the latest list of SBP with rewards to achieve the best ROI for your investment.As of September 8, the following SBPs pay voting rewards (in alphabetical order). Please be kindly noted we don’t provide ROI details. You should reach out to the SBP (they usually have representatives in our Telegram groups) or ask the group admin to get the latest payback rate.Beauty.ViteElegance.ViteN4Q.orgN4YSwissVite.orgvite.bi23vite.NO1V666.funThanks to the above SBPs and all Vite voters. You do contribute to the notable decentralization of Vite!Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enUpdated List of SBP Who Pay Vite Voters was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 09

ViteX Launching One-Year An...

ViteX, our decentralized exchange, went live on July 30, 2019. It is a truly decentralized exchange with on-chain matching engine/trade settlement and dividend sharing via its platform coin, all implemented as smart contracts on the Vite public chain. And it solves the problem of non-transparency of both trading data and operations characteristic of centralized exchanges. Within a month of going live, mining was turned on. Users are able to mine VX via trading, making orders, staking, inviting other users, and listing coins. And VX owners are entitled to 100% of listing fees and trading fees from ViteX.At Sep 9, 2020, mining on ViteX has reached its one-year anniversary. Total amount of mining exceeds 10 million VX, and users have received proceeds of 96 BTC, or roughly 1 Million USD.As a thank-you for our users, and in celebration of the anniversary, ViteX is holding two mining-related campaigns.Campaign 1: Mining reward 10x multiplierDuring the campaign period (7 days), users will receive 10x the regular reward for market-making-as-mining (aka liquidity mining) on certain trading pairs. Rewards will be distributed the same way as the current method.Applicable trading pairs:VX/BTC, VX/VITE, VX/ETH, VX/USDTCampaign period: 7 days — Sep 9, 2020 12:00-Sep 16, 2020 12:00 (UTC+8)How does one participate in market-making-as-mining?https://forum.vite.net/topic/3569/how-to-mine-on-vitex-advancedCampaign 2: Free Referral as MiningUsers may obtain ViteX QR codes for free. Users that sign on via these QR codes will receive permanent benefits in mining.Campaign period: 30 days — Sep 9, 2020 12:00-Oct 9, 2020 12:00 (UTC+8)How does it work?During the campaign, the Vite team will reimburse selected individuals the 1,000 VITE payment used to generate a referral code.By inviting a friend with a referral code, you will be rewarded, for unlimited time, 5% of your friend’s trading as mining proceeds and 2.5% of your friend’s market-making as mining proceeds.What are the rules?1,000 VITE each will be sent to the top 50 users with the most number of valid referrals. Note, to qualify, users must make at least five valid referrals (defined below), and must also retweet the campaign rules tweet and tag at least three contacts on twitter.A referral is valid when the invited friend has trading volume greater than 0.05 BTC on trading mining-eligible trading pairs (Trading volume at other base markets must be equivalent to 0.05BTC, rates fixed at 4 am UTC Sep 9).Only new referrals invited during the event will be counted.Users may create the referral code any time during the campaign. Partakers of previous similar campaigns can also participate.The user with the most like’s in his or her retweet of the campaign post will also receive a Vite t-shirt as souvenir.Terms and Conditions:Only volume of trading Trading as Mining eligible trading pairs will be calculated.Trading volume counts both buys and sells, excluding any wash trades.ViteX reserves the right to disqualify trades that are deemed to be wash trades or illegally bulk registered accounts, self-dealing or display attributes of market manipulation.Rewards will be distributed within 2 weeks after the campaign ends.What is VX?ViteX Coin, VX, is the coin native to the ViteX platform. It is mined exclusively by the ViteX community and is used to allocate rewards back to the community.What can I do with VX?You can ​trade ​it on ViteX with the following trading pairs: VX/BTC, VX/ETH, VX/USDT, and VX/VITEEven better, you can ​hodl ​it to receive daily dividends in BTC, ETH, USDT. Trading fees collected by the ViteX platform are put into a shared dividend pool that is distributed ​back​ to traders at a daily rate of 1%. All accounts staking at least 10 VX in the exchange are eligible to receive dividends.How do I mine VX?https://vitex.net/mineLearn Morehttps://vitex.zendesk.com/hc/en-001/categories/360002942294-Guides-TutorialsViteX Launching One-Year Anniversary Dual Campaign! was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 08

Call for Vite Techies

We want you!Want to build something cool on the Vite public chain? Want to discuss and study Vite’s tech in real projects used by thousands? Want to meet Vite’s core developers? Want to explore Vite 2.0 with the team? This is the opportunity that you should never miss out.We humbly call for community developers to work with the Vite dev team. You will have the chance to participate in all aspects of development in the Vite ecosystem, including the Vite public chain, wallets, ViteX exchange, SDKs, tools, and more.We are looking forCore members, having insights into the blockchain industry and in-depth technical knowledge of blockchain projects and the trend. Core members will attend the discussion of Vite’s tech prioritization, feature enhancements, protocol upgrade, new technology adoption, and complete prototype design/development as per the discussion.Key developers, working closely with the Vite dev team to finish the development of new requirements and tasks. The key developers should have strong technical skills and responsibilities to complete the development on schedule.Solid contributors, willing to contribute to the long-term benefit of Vite, and having sufficient time to work on the assigned task for a period.You will be eligible if you areSeasoned blockchain developer.Skilled in software development. Blockchain development experience e.g. Solidity, web3, browser extension wallet like MetaMask is a plus.Proficient in at least one of the following languages or frameworks: Go, Java, Python, Javascript/Typescript, Node.js, Vue, Solidity. Knowledge in C/C++, Swift, Android, encryption algorithms is a plus.Kindly note this is NOT a paid task or a campaign. A Vite techie shall be awarded for the high-quality work, but in principle we do not make a commitment for rewards or payment a priori.You are not a Vite Techie if you areLooking for a job, including a part-time job.Bounty hunter.Non-technical.Join us, and let’s create something cool!In the meantime, Vite will soon launch Vite Techie Forum, an event regularly held online for everyone interested in the tech aspect of Vite. You are welcome to participate and share your thoughts! Please pay attention to our following announcements.Join https://t.me/vite_en and shoot a message to the admin to be involved!Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enCall for Vite Techies was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 08

Vite Bi-weekly Report

Aug 16–31, 2020Project UpdatesVite AppReleased v3.7.5 for Android device and v3.7.7 for iOS.New features and enhancementsAdded “Transaction Status” to the ETH transfer page. Currently, three transaction statuses are supported: Unconfirmed, Pending, and Confirmed.Support unconfirmed transactions on the ETH transaction details page.Ethereum gas price estimation enhancement.Vite App full-scale optimization started.In the next couple of months, we will fully optimize the Vite App, including code refactoring, user experience upgrades, and comprehensive security testing. During this period, we will reduce unnecessary minor version updates to ensure the optimization is correctly conducted.The Vite’s fifth hard forkThe fifth hard fork, named “Jupiter”, will be performed at 16:00 HKT on September 2nd. This hard fork contains a significant functional upgrade. After the hard fork, ViteX will support zero-fee conversion of stablecoins.At present, the hard fork is complete successfully. We thank the Vite community for their awesome supports, especially the Vite SBPs and exchanges such as Binance and OKEx.Scheduled height: 39694000Estimated fork time: 14:00, September 2, 2020 (HKT)Go-vite version: V2.10.0GitHub link: https://github.com/vitelabs/go-vite/releases/tag/v2.10.0Desktop walletNew Vite desktop wallet version 1.4.1 was released.New features and enhancementsSupport zero-fee stablecoin conversion.Improved UI style for multi-times liquidity mining.Download link: https://github.com/vitelabs/vite-wallet/releasesRecent MilestonesViteX Releasing Zero-fee, Mine-able, Decentralized Stablecoin ConversionViteX will soon debut its zero-fee stablecoin transfer service between four initial stablecoins USDT, USDC, DAI, and BUSD. This service is based on ViteX, the completely decentralized exchange protocol. The service not only secures users’ digital assets, but also requires no account registration or complex KYC process. In addition, to stimulate liquidity and reduce slippage, stablecoin transactions will come with liquidity mining (aka “market-making as mining,”) where limit order providers will earn VX.Read here: https://medium.com/vitelabs/vitex-releasing-zero-fee-mine-able-decentralized-stablecoin-conversion-87a7190c1982Vite Labs Forms Official Partnership with BANANOOn Aug 15, Vite Labs announced an official partnership with another DAG based project BANANO, where both projects will cooperate on exploring possibilities of DAG technologies and developing an open financial ecosystem. The two communities will engage in higher level of interactions through events such as hosting joint campaigns and distributing airdrops.Read here:https://medium.com/vitelabs/vite-labs-x-banano-partnership-announcement-a17ef704695dViteX ExchangeOperator VGATE Listed SparkPoint(SRK)On Aug 24, ViteX Operator VGATE listed SRK SparkPoint, and opened trading pair SRK/ETH.SparkPoint aims to fast track mainstream adoption of blockchain and cryptocurrency. From mobile payments, remittances, exchanges, gaming, etc., SparkPoint believes innovations can reinvent digital payments and build a better future.On Aug 27, ViteX enabled market-making as mining for trading pair HNS/USDT and participants can receive 3 times VX rewards for providing liquidity to HNS/USDT trading pair for one week.VX Mining One Year AnniversaryVX mining will soon have its first anniversary on September 9, 2020. As of now, an accumulative of more than 10 million VX have been mined on ViteX, over 100 BTC have been distributed to VX holders as dividends, and the left-over amount to be distributed in the dividend pool exceeds 30 BTC. To thank our users for your continuous support and in celebration of the anniversary, ViteX will be holding mining-related annual events in the upcoming days, all welcome to participate.Data on VITE and VXAs of August 31, 22,293,579.31 VITE have been burned through ViteX, accounting for 2.22% of total issuance.116,437,303.78 VITE are staked on ViteX, accounting for 11.64% of total issuance.10,691,550.89 VX have been mined, of which 9,610,710.87 VX (about 89.89%) are being staked for dividends.To-date, 101.04 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 32.66 BTC.ActivitiesOn August 20, Vite CPO Blackey Hou held a live video AMA with the Chinese community, where he discussed Vite’s next major plans.You may watch the replay here: https://m.yizhibo.com/l/VHxZ3Cn9hh_aHvEM.html?fro=weibo&from=singlemessageCOO Richard has planned a new episode of ”The Blockchain Debate Podcast“ where he invited managing partner of Dragonfly Capital, Haseeb Qureshi, as well as Chief Strategy Officer of the invest firm Coinshares, Meltem Demirors. The topic is, “Motion: Yield Farming is innovation.”Yield farming is one of the hottest topics since second quarter of this year. This debate will touch upon the mechanism and sustainability of this new paradigm.This show is a window to export Vite Labs’ thoughts on the industry. It is also a way for the Vite team to build relationships with other movers and shakers in the space.All episodes are available here: https://blockdebate.buzzsprout.comYou are welcome to follow Richard and the podcast here: Twitter.com/gentso09 / Twitter.com/blockdebateVite Labs has restarted the coin listing recommendation campaign and we welcome your participation. The community member that recommends a coin that gets listed will receive 1000 VITE. Please enter the contest here: https://twitter.com/ViteXExchange/status/1299295768142966784Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 09. 04

ViteX Releasing Zero-fee, M...

Stablecoins experienced explosive growth in the first half of 2020, attaining market cap of over USD 10Bn. Due to their very nature of stable value against fiat, many users hold them for preservation of value. Among the many stablecoins in the market, the main ones are USDT, USDC, TUSD, BUSD, and DAI. Different stablecoins are useful in different scenarios. Note that the risk of holding only one type of stablecoin is high, thanks to operator risks that cause potential depreciation or inability/inconvenience to off-ramp. As such, users typically hold multiple kinds of stablecoins, and this creates a growing need for conversion between stablecoins.Traditionally, stablecoin conversions can be done via off-ramp/re-on-ramp, or trades on centralized exchanges. These processes entail bigger risks, higher transaction fees, and low liquidity. With the development of DeFi and Open Finance, decentralized stablecoin conversion protocols will gradually replace these older channels, by removing the centralized party and facilitating more secure transactions at lower costs.ViteX will debut its zero-fee stablecoin transfer service in the coming weeks. This service is based on ViteX, the completely decentralized exchange protocol. The service not only secures users’ digital assets, but also requires no account registration or complex KYC process.Also, due to the nature of Vite chain’s free transactions, there will be zero fees in the exchange process. To be clear, there will be zero fees both at the exchange transaction fee level, and at the public chain level (typically understood as “gas”).In addition, to stimulate liquidity and reduce slippage, stablecoin transactions will come with liquidity mining (aka “market-making as mining,” where limit order providers will earn VX). Market makers can therefore simultaneously arbitrage from stablecoin markets, earn additional mining rewards, and remit zero fees to the trading platform.Initially, we will open three stablecoin pairs for zero-fee conversion — USDC/USDT, DAI/USDT, BUSD/USDT:Deposit will open for USDC and DAI at 15:00 on Sept 3, 2020 (UTC+8)USDC/USDT and DAI/USDT begin trading at 15:00 on Sept 4, 2020 (UTC+8)Deposit for BUSD and USDT is already available. Pair BUSD/USDT is currently traded on the exchange, zero-fee conversion will available after the hard forkAs a pioneer and practitioner of the field of Open Finance, ViteX will always explore and implement features by thinking from the users’ perspective. We’re proud to release the zero-fee, mine-able, decentralized stablecoin transfer function; It will not only satisfy real needs from customers, but further enhance the DeFi ecosystem and propel the development of the blockchain industry at large.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enViteX Releasing Zero-fee, Mine-able, Decentralized Stablecoin Conversion was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 08. 26

Vite Labs x BANANO Partners...

We are excited to announce that Vite Labs has engaged in an official partnership with another DAG-based crypto project BANANO. Both Vite and BANANO have long been committed to, through different approaches, delivering real-usable ultrafast feeless blockchain use cases powered by DAG technology, and creating a truly open and transparent finance network.Since BANANO listing on ViteX, we have collaborated on several rounds of BAN airdrops through the Vite App. We are deeply impressed by the team’s pursuit for fairness and broadness of distribution, and the inclusiveness of the BANANO community. In order for both projects to learn more from each other and to increase visibility of DAG technology in the blockchain industry, Vite Labs and BANANO have decided to form an official partnership.The partnership includes but is not limited to the following:The Vite App will become a long-term designated channel for BAN AirdropsFunding of specific joint activities and campaigns with VITE or VX tokensMore mutual interactions on respective social channelsIncreasing visibility and awareness of DAG technologiesFurther connecting both communitiesAbout BANANOBANANO is a DAG-based next-generation cryptocurrency with ultrafast and feeless transactions. BANANO has ongoing 100% free and fair distribution in line with gamification and crypto education since 2018 and is used heavily through intuitive apps and easy interfaces within the expanding BANANO ecosystem.Follow BANANO:Website: https://banano.ccDiscord: https://chat.banano.ccTwitter: https://twitter.com/bananocoinMedium: https://medium.com/@bananocurrencyAbout Vite Labs and ViteXVite is a feeless, high-performance public chain and the world’s first DAG-based smart contract platform, well suited for commercial dApps with performance rivaling their centralized counterparts. Vite’s capabilities are made possible by its unique asynchronous architecture, hierarchical consensus, and snapshot chain. Vite has a steady record of deploying practical applications on its platform, with products including a decentralized exchange, a public-financing dApp for the American City of Syracuse, multiple game dApps, and micropayment platforms.ViteX is a decentralized exchange built on the Vite public chain. It is an open exchange run by the community, with its income passed through to the community. ViteX has a platform token VX, VX holders enjoy the right of receiving daily dividends of transaction fees and other revenue of ViteX exchange.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Labs x BANANO Partnership Announcement was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 08. 25

Vite Bi-weekly Report

Aug 1–15, 2020Development AchievementsVite AppThe latest version 3.7.5 was released.New features and enhancementsAdded “Transaction Status” to the ETH transfer page. Currently, three transaction statuses are supported: Unconfirmed, Pending, and Confirmed.Support unconfirmed transactions on the ETH transaction details page.For ETH transactions sent to oneself, the amount is changed to gray color for users to recognize.New token-switch dropbox on the asset transfer page, simplifies the steps of switching tokens.Bug fixesRemoved the two redundant “-” in candlestick charts.Fixed mnemonic phrase restore error when using uppercase letters.ViteX ExchangeThe new feature of “friction-less stablecoin conversion” is in progress and will be launched in early September.The eligible trading pairs will be identified with a label of “0 Fee” on both the Vite App and the web wallet. Tradings on these pairs do not charge any fees. In the meantime, users can even mine VX by providing liquidity.ViteX is the first DEX to provide decentralized stablecoin conversion with zero fees. Three stablecoin pairs are expected to be present in September, stay tuned.Desktop WalletNew desktop wallet version 1.3.27 was released.New features and enhancementsImproved user experience of Vite Connect. In the case of reloading the wallet by a user, the connection will be auto re-established if the Vite App is still connected.The cumulative depth is displayed when user moves the cursor over a placed order.Recent MilestonesViteX ExchangeOperator VGATE listed Robonomics Network(XRT)On Aug 3, ViteX Operator VGATE listed XRT Robonomics Network, and opened trading pair XRT/BTC.Robonomics Network is a set of open-source packages for Robotics, Smart Cities and Industry 4.0 developers.Operator VGATE listed Flama (FMA)On Aug 7, ViteX Operator VGATE listed FMA Flama, and opened trading pair FMA/ETH.Flama is the first deflationary token on the market which is ready right now to build decentralized applications with enhanced features such as staking.Operator Vite Labs listed Handshake (HNS)On Aug 13, ViteX Operator Vite Labs listed HNS Handshake, and opened trading pair HNS/USDT. The trading pair is eligible for market-making as mining on ViteX.Handshake is a decentralized, permissionless naming protocol compatible with DNS where every peer is validating and in charge of managing the root zone with the goal of creating an alternative to existing certificate authorities.Technology SeriesOn August 7, we published the 7th article of the Tech series which explains how ViteX achieves decentralization.Read here:Tech Series #7: ViteX’s Decentralization ExplainedVite Ecosystem Incentive PlanIn order to further motivate and incentivize participation of both existing and new capable teams from our community to build together a more decentralized Vite ecosystem, Vite Labs is releasing Ecosystem Incentive Plan 2.0. The plan is designed to support developers in various ways such as staking for SBPs, voting, and allocating VITE rewards. We are currently finalizing details of Plan 2.0 and designing specific tasks, suggestions and opinions are encouraged and much appreciated.Data on VITE and VXAs of August 14, 21,543,910.32 VITE have been burned through ViteX, accounting for 2.15% of total issuance.113,836,785.95 VITE are staked on ViteX, accounting for 11.38% of total issuance.10,076,046.26 VX have been mined, of which 9,056,767.81 VX (about 89.88%) are being staked for dividends.To-date, 95.5 BTC worth of dividends has been distributed. The pool of undistributed dividends stands at 31.8 BTC.EventsChinese Community AMAOn August 5, Vite CPO Blackey Hou held a live video AMA with the Chinese community, where he discussed Vite’s fifth hard fork, the future positioning of Vite in the area of Open Finance, and comparison with other projects in the DeFi space.You may watch the replay here:Vite Labs-一直播International Community AMAVite COO Richard ran a new Telegram based AMA for the international community. Members of the community asked questions regarding our marketing strategy, plans for coin listings on ViteX, and development of dApp on Vite. Detailed responses to all these questions can be found here: https://forum.vite.net/topic/4110/vite-labs-leadership-ama-august-13-2020-reviewViteX Ambassador SelectionAll candidates for the ViteX ambassador contest have submitted their videos where they each interviewed a project listed on ViteX. The community voting is now underway. You may vote here:https://medium.com/media/2506adaf4cc6718b51a715914e7fc007/hrefThe three videos may be watched here:Interview with EpicCash by Alex (https://twitter.com/AlexandreRaffin)https://medium.com/media/0d58ccd30f1f2d6158fd3656d64394d0/hrefInterview with PegNet by Sichen (https://twitter.com/SichenHuo):https://medium.com/media/016debf094b5c95ee1468af8bd68c79b/hrefInterview with TurtleCoin by Amec (https://twitter.com/amec_nation):https://medium.com/media/1ba745d1bfdeeb72bf18c8b235764fc1/hrefThe Blockchain Debate PodcastVite COO Richard recorded a new episode of the Blockchain Debate Podcast. The theme of the debate is: “Blockchain analysis firms are bad for Bitcoin.” The guests this time include Alex Gladstein, Chief Strategy Officer of Human Rights Foundation, and Dave Jevans, CEO of CipherTrace, a blockchain analysis firm.Blockchain analysis firms assist the government in tracing on-chain money flows of criminals, and help financial institutions such as digital asset exchanges build out internal management systems that are compliant with local laws.This podcast helps Vite Labs export its brand to the world, and provides fruit for thought for the industry.All podcasts can be found here: https://blockdebate.buzzsprout.comYou’re also welcome to follow Richard’s Twitter account here: https://twitter.com/gentso09Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 08. 21

Tech Series #8: An Introduc...

Tech Series #8: An Introduction to Vite ConnectBackgroundAs more third-party gateways are integrated into ViteX, an increasing security risk has been posed due to the increasing number of third-party services. Storing mnemonic seeds (or private keys) in browser becomes insufficient. An urgent need has arisen to find a remote signing solution in order to separate mnemonics/keys from web client. As an alternative of hardware wallet, it should use the private key saved in Vite mobile app to sign transactions sent from Vite web wallet. The final solution must be safe, convenient, and easy to implement.Let’s see two existing solutions first:https://github.com/MyEtherWallet/MEWconnecthttps://github.com/WalletConnect/walletconnect-monorepoThe major difference of the two solutions is the connection type between peers. Hereinafter I borrow some terms and diagrams from WebRTC architecture on https://developer.mozilla.org for illustration.MEWconnectMEWconnect implements a similar STUN (Session Traversal Utilities for NAT) server. The server detects the NAT type of two peers and exposes the public network address of each other to both parties (Note: this cannot be achieved under some NAT types).After knowing the public network addresses of each other, the two peers communicate directly.MEWconnect has no relay server. No one has access to communication data except the two peers. However, since most 3/4G network is under symmetric NAT where P2P communication cannot be realized, MEWconnect does not meet our requirement.WalletConnectWalletConnect implements a relay server like TURN (Traversal Using Relays around NAT). Once registered, the two peers are able to find each other and communicate through the relay server, so communications can be normally conducted in 3/4G network. This is the design we finally adopted in ViteConnect.Let’s take a deeper look at the handshake process of a web client and a mobile app — the typical use scenario of ViteConnect.Handshake Process in WalletConnectThe web client generates a key and a handshake topic, then displays in the form of QR code, which also includes server’s internet address.The web client sends a session request to handshake topic on the server, carrying a webclient topic, and then subscribes to the webclient topic for incoming messages.The mobile app scans the QR code, connects to the server, and takes the session request from the handshake topic. After decrypting the message with the key, the mobile app is able to get the webclient topic. Subsequent messages to the web client will be published through the topic. At this time, the mobile app will send an approveSession message, carrying a mobileclient topic.The web client receives the approveSession message, retrieves the mobileclient topic. Subsequent messages to the mobile app will be published through the topic.FeaturesAll messages are encrypted. The encryption key is only known by the two parties and transparent to the server.During session establishment, private topics (webclient topic, mobileclient topic) are exchanged in secure and will not be disclosed.Session request is sent and consumed only once, thus ensuring that even if the contents of handshake topic and encryption key in the QR code are leaked, the attacker cannot access the private topics of the two parties.Existing Problems of WalletConnectThe encryption key is not updated during handshake. If the QR code and encrypted message are exposed, a third party can read the message.Private topic is generated only once and cached locally in device. Once leaked, encrypted message can be intercepted by a third party.Peers cannot see each other, further the server does not know the corresponding relation between topics. The decoupling between peer and server may reason for security purpose. However, this also brings difficulties for implementing reconnection.Both server and web client use socket.readyState===1 to determine if it is ready to send the message. However, in our testing after the connection is broken, socket.readyState still keeps valid in next 5–7s. Messages during this time may be lost.Overall, the handshake process is cleverly designed. However, lacking of reconnection mechanism, server-side message storage, and topic recycling still leaves improvement space.Our workBecause ViteX’s users are globally located, one single server would cause high latency to some users and poor stability, thus multiple distributed servers should be set up.To solve the state agnostic problem between two peers, a heartbeat mechanism is introduced in ViteConnect. If the heartbeat of one party is not detected within 10s, the other party will send a disconnection message and then close the connection.To recycle unused topics, ViteConnect guarantees there is only one topic for every session. Long-term (1h) unused topics will be recycled.A basic monitor has been employed.After the first version of ViteConnect was released, the peak topic number in the first day was around 3700, serving more than 1200 users at the same time.Optimizations in V2According to feedbacks, in the first version messages were sometimes lost, and connections were dropped when screen lock.This is a stability/real-time tradeoff. In a poor network environment, whether to wait for the message to arrive or disconnect connection immediately for liveness is not always easy to decide. Considering the difficulty of liveness preservation in mobile app and measuring the impact of network delay, we chose to implement the reconnection mechanism in ViteConnect.Add a unique sequence number to each message, so that peers can re-subscribe from the last index after reconnecting.Introduce new message types:a. Session related messages. The messages should only be consumed once for security reasons.b. In the purpose of connection optimization, messages between peer and server should not be encrypted.c. Private messages should be kept on the server for a certain period of time, in case of topic re-subscription after reconnecting.d. Topics are recycled when idling for a certain period of time.3. Support version control. Version of message/peer should be detected by server. The server should select different processing methods when dealing with different versions of peers and messages.Reference materials:https://developer.mozilla.org/en-US/docs/Web/API/WebRTC_API/Protocolshttps://github.com/MyEtherWallet/MEWconnecthttps://github.com/WalletConnect/walletconnect-monorepohttps://github.com/WalletConnect/node-walletconnect-bridgeHttps://www.jianshu.com/p/a6713687bc1dHttps://www.jianshu.com/p/ecde412d2eebOfficial: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enTech Series #8: An Introduction to Vite Connector was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 08. 19

Tech Series #7: ViteX’s Dec...

Generally speaking, if one certain sub-system of exchange is implemented in a decentralized approach, it can be categorized as a decentralized exchange in a sense. If we look at the existing decentralized exchanges from the perspective of decentralization degree, we can find that some of them are more decentralized, and some are less. In regards to what components should be decentralized, and to what degree of decentralization an exchange should achieve, there is no common understanding in the industry, and the actual implementation of the exchange reflects the architect’s view of decentralization, flexibility, performance, and trade-offs between them. As a firm practitioner of DEX, ViteX’s mission is to build an exchange of the best decentralization, leading to a hybrid approach of fully decentralized core components and, in order to take into account flexibility and user experience, a few centralized non-critical sub-systems. Let me explain in detail below.Decentralized ImplementationSub-systems of asset management, order placement, order matching, settlement, mining, and dividends are decentralized on ViteX.1. Asset ManagementAsset management involves deposit, withdrawal and asset storage. In deposit, a user initiates a transaction in his account to call the built-in contract of dexFund to lock the deposit assets in the exchange. Except for the withdrawal interface, there is no other place to transfer assets out of the contract. In withdrawal, the user calls dexFund to initiate an asset transfer from the contract to the user’s account. The dexFund contract will create a key-value record in contract storage for each user to track asset balance. The cumulative balance of the accounts should be exactly the same as the asset balance held by the dexFund contract on the Vite chain.2. Order Placement, Matching and CancellationWhen placing an order, the user initiates an order placement request to dexFund. The dexFund contract will verify the request, lock passed-in assets, and, if complete, call dexTrade contract to fill the order or fail otherwise. The matching engine in dexTrade adopts the Taker-Maker model on the basis of price-time priority. Let’s see an example.For a newly submitted order A, if another order B in the order book can be matched, A becomes taker, and the order will be executed at the price of maker B. If A is not fully filled, it will attempt to match the next order on the order book until there is no further order to match or fill. In this case, A becomes the maker waiting for others to take.Cancel an order is similar to order placement. It looks up the order id in the order book, and remove the order and unlock assets if the order id is found.On ViteX, the process of order placement, matching, and cancellation are performed by two smart contracts (dexFund, dexTrade), and the order book is implemented in the dexTrade contract. It is a completely decentralized design.3. SettlementOn ViteX, order matching and cancellation, mining, and dividends may involve assets settlement. Since the assets are secured in the dexFund contract, the settlement process is simplified by updating the balance of each account in the contract. For order matching and cancellation, the dexTrade contract initiates a request transaction containing a list of [address, token, change of amount] triples to dexFund, so the contract can look up in the key-value based storage and update the balance accordingly. For mining and dividends, since they are executed in dexFund, the settlement can be processed in the contract independently. Mining activities raise the circulating token supply, while dividends lock VX in the contract and distribute fee income to the accounts.4. MiningMining on ViteX is related to VX minting, destuction, transfer, VX emittance curve, mining metrics and algorithm.VX has no inflation. After minted, all VX tokens are transferred to the dexFund contract and locked. The emittance of VX is strictly following the release curve. The smart contract guarantees that no VX will be released ahead of schedule.In December 2019, over 70m VX were burned according to the new emittance curve, through a special interface of the contract. The new mining curve is determined by an algorithm written in dexFund, which uses a base cycle and the distance of a given cycle to the base cycle to calculate the release quantity of the day, so no one can tamper with or interfere.ViteX supports multiple mining methods, including stake mining, trade mining, referral mining, and liquidity mining. In stake mining, the balance change caused by staking or un-staking is tracked in the dexFund contract. Similar to stake mining, trade mining tracks the change of transaction fees while referral mining will calculate the cumulative rewards of both inviter and invitee in the contract too. At the end of a mining cycle, the dexFund contract executes the relevant mining algorithm to calculate the proportion of mined VX in total for each mining account and credit VX to the account.The total mined VX of liquidity mining in each cycle will first be sent to a temporary account in dexFund, and then an off-chain service will call the dexFund contract to distribute VX from the temp account to individual mining accounts. Liquidity mining is not fully decentralized. Except for liquidity mining, all mining activities on ViteX are completely decentralized.5. DividendsDividends on ViteX involve VX locking, unlocking and dividend algorithm.Locking and unlocking are initiated by the user, through a transaction call the dexFund contract. The contract tracks the locked VX of each account for the current cycle and calculates dividends at the cycle end. At present, the dividends distributed is 1% of the cumulative dividend pool, which is composed of 99% of the pool in the previous cycle plus the total trading fees collected in the current cycle. On ViteX, both dividend calculation and distribution are completed in dexFund, which makes it decentralized.6. Trading PairsOn ViteX, anyone can send 10,000 VITE to dexFund to open a new trading pair for the token owned and obtain operating right. The token ownership and operating right can be transferred. With operating right, one can set trading fees, and suspend or lift trading for the trading pair. All steps are completed by calling the corresponding interfaces of the dexFund contract, making trading pair operating decentralized.Centralized Implementation1. Market TrendThe various market-related data, such as price change, trading volume, candlestick chart, and order depth, are generated from the on-chain order matching results by a centralized crawler service.2. Advanced Order QuerySimilar to market trend data, the order query on ViteX is supported by a centralized service too. Users can call the service API to look up historical orders, query unfilled orders according to different conditions, and cancel orders as needed.3. Liquidity MiningCompared with stake mining and trade mining, liquidity mining has too complex rules to be implemented in the contract. Therefore we put it in a centralized service. We will introduce liquidity mining in a following article.SummaryIn this article, we have introduced the implementation details of the ViteX sub-systems from the perspective of decentralization. As a highly decentralized exchange, ViteX fulfills the commitments of traceability, transparency and security.Tech Series #7: ViteX’s Decentralization Explained was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 08. 07

Vite Bi-weekly Report

July 16–31, 2020Development AchievementsVite AppThe latest version 3.7.4 was released on July 30.New features and enhancementsAdded a “0 Fee” icon to the markets page to highlight trading pairs that support zero-fee stablecoin conversion.New liquidity mining icon to strengthen the visual effect, more clean and focused.Improved Ethereum gas price auto-detection, ​to avoid the problem that transactions may not be confirmed in time when Ethereum network is jammed.Transaction list auto-refresh. The new transaction can be displayed in the record immediately after it is sent successfully.Bug fixesFixed long operator name overlap when switching trading pairs.Other minor bugs.ViteX ExchangeA major upgrade of ViteX is being scheduled to support the function of “friction-less stablecoin conversion”.According to the previous survey in the community, many users have the demand to exchange stable coins. Given that currently there is no exchange supporting free exchange between stable coins, ViteX will be the first DEX to launch the feature, providing a safe, convenient, and low-cost stablecoin conversion solution to users.Desktop walletNew desktop wallet version 1.3.25 and 1.3.26 have been released.New features and enhancementsNew “Reload” function added to the main menu to support wallet full refresh.Enabled right-click menu to facilitate fast copy/paste.A new entry added to the lower-left corner of the main page for switching themes.Bug fixesFixed a problem that may cause a crash after running for a long time.Recent MilestonesVite Chain Upcoming Fifth Hard Fork “Jupiter” for Stablecoin ConversionThe Vite chain is estimated to undergo a fifth hard fork, code name “Jupiter”, in September 2020. After this hard fork, ViteX will support “friction-less stablecoin conversion.” As such, users will be able to convert between stablecoins with zero transaction fees.This fifth hard fork is yet another step forward for Vite, in our effort to realize our original vision of “Open Finance.”Read Announcement: https://medium.com/vitelabs/ann-upcoming-vite-fifth-hard-fork-insights-sharing-building-an-open-finance-application-674c40b4fb4aVite was Selected as Top 10 Best Performing Altcoins with Market-Cap by CryptoDepartmentTechnology SeriesOn July 28, we published another article of the Tech series which explains why is it a lot more cost-efficient to deploy a smart contract on Vite than on EOS.Read here: https://medium.com/vitelabs/tech-series-6-the-economics-of-smart-contract-vite-v-s-eos-5481a170af38ViteX ExchangeIn order to improve ViteX user experience, especially with deposits and withdrawals, operator Vite Labs has started a 24/7 rotation shift schedule. Currently, 10 members from the Vite Labs team are involved with the shifts, ensuring that at least 1 person is responsible for handling timely issues with deposits/withdrawals and monitoring smooth operation of the exchange at all times. Since the implementation of the new shifts, we have observed significant improvement in user experience and reduction in tickets submitted. In the future, we will continue to optimize and iterate ViteX’s standard operating procedures to ensure that user experience at our decentralized exchange meets the standards of the mainstream exchanges.Data on VITE and VXAs of July 30, 20,957,474.5 VITE have been burned through ViteX, accounting for 2.09% of total issuance.120,908,799.10 VITE are staked on ViteX, accounting for 12.09% of total issuance.9,516,204.37 VX have been mined, of which 8,428,345.87 VX (about 88.56%) are being staked for dividends.To-date, 80.91 BTC worth of dividends have been distributed. The pool of undistributed dividends stands at 29.09 BTC.EventsVite AppVite COO Richard held an AMA with the Chainlink community, where he focused on ViteX. Topics included high performance and mining capabilities on ViteX, ambassador selection process, and zero-fee stablecoin conversion as part of ViteX’s plans to implement Open Finance.Replay available here: https://www.youtube.com/watch?v=IAOVcYnGETcVite CPO Blackey Hou held a livestream with the Chinese community, where he discussed ViteX’s future plans, including those targeted at implementation of Open Finance.Replay available here: https://www.yizhibo.com/l/ET6lRiQU419Tt-au.htmlViteX Ambassador selection process has entered its final phase. We have narrowed to a pool of three candidates. They each have selected one ViteX-listed project to interview. After the release of their videos, the community will vote and make a final determination.Relevant Twitter announcement:https://twitter.com/ViteXExchange/status/1288327636788289536?s=20COO Richard hosted a discussion panel on crypto mining as an event for the well-known Silicon Valley Bitcoin Meetup. The guests included Genesis Mining and Great American Mining Co.Replay here: https://www.youtube.com/watch?v=tVIhRq6QZRMCOO Richard published a new episode of ”The Blockchain Debate Podcast“ where he invited CEO of Solana, Anatoly Yakovenko as well as Director of Business Development Emre Tekişalp at Coda. The topic was, “Motion: Blockchains of today cannot increase TPS without sacrificing decentralization.”This show is a window to export Vite Labs’ thoughts on the industry. It is also a way for the Vite team to build relationships with other movers and shakers in the space.All episodes are available here: https://blockdebate.buzzsprout.comYou are welcome to follow Richard and the podcast here: Twitter.com/gentso09 / Twitter.com/blockdebateOfficial: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 08. 05

Tech Series #6: The Economi...

Tech Series #6: The Economics of Smart Contract — Vite v.s. EOSCosts of smart contract on ViteOn Vite, the costs of smart contract depend on the resources used, including CPU, memory, network bandwidth, storage space, etc, and the resource consumption is measured in terms of quota, which can be obtained by staking VITE coin. Quota is refilled every snapshot block during the stake period. The staking size is proportional to the actual resources that are used by the contract. The more resources used, the more VITE coins should be staked.Note: Apart of staking, Vite also supports another method of solving PoW puzzle to get free quota. It will be discussed below.In general, the costs can be split into two parts: — Cost of creating a contract: To create a smart contract, the contract developer needs to pay a 10 VITE deployment fee, which will be destroyed. In the meantime, a small amount of quota is consumed from the developer’s account to trigger the deployment transaction. — Cost of calling a contract: Due to the asynchronous architecture adopted by Vite’s smart contract, both transactions of request (triggering the contract) and response (executing the contract) consume quota. The former spends quota from the user’s account, while the latter is usually secured by quota staked for the contract account by a contract developer.Costs of smart contract on EOSThe cost of an EOS contract is measured in three resources: RAM, CPU, and NET. RAM is on-chain storage, including account balances, public keys, staking and voting entries, contract states, etc. For example, creating an ordinary EOS account requires 4KB of RAM to store the related information. For a smart contract, RAM is used in storing contract’s code and states. Specifically, contract states are the data saved through EOS’s DB interface. This part of cost can be covered either by the contract developer or by the user, counting on how it is specified in the contract. RAM must be purchased in the secondary market, and can be recovered after the resource is released. The selling price of RAM follows Bancor Algorithm.CPU and NET stand for CPU resource and network bandwidth on EOS. They are both obtained by staking EOS coins, and the amount of resources retrieved depends on the proportion of the stake amount of an account to the total amount of all current stakes. The amount of CPU and NET resources specifies the CPU cycles in microseconds the account is able to execute and the size of network capacity in bytes the account can leverage in the current window (a window is equivalent to 24h according to the EOS’ specification). CPU and NET are consumed for each EOS transaction, and will be restored in the next window.The cost of an EOS contract can also be split into two parts: — Cost of creating a contract: To create an EOS contract, the contract developer must pay RAM for storing contract states, as well as CPU and NET to launch the contract creation transaction. — Cost of calling a contract: To call a contract, the user needs to spend CPU and NET in executing the contract call. If the contract has new contract state to store, RAM is also charged. In most cases, it’s the user who pays the RAM.Cost ComparisonAn ExampleLet’s see a simple quiz contract.The contract has a guess function, which takes a number ranging from 0–9. The function generates a random seed, and if the last digit of the random seed is the same as the input parameter, it prints “win”, otherwise prints “lose”.On Vite the contract code is as follows:To create the contract:The contract developer pays 10 VITE as deployment fee, and at least stakes 400 VITE or calculates a PoW with a difficulty of 147722953 to launch the contract creation transaction. The quota consumption is 45956.To call the contract:The user should stake at least 267 VITE (in this case, one call request can be triggered every 75 snapshot blocks, approximately 75s) or calculate a PoW with a difficulty of 75164738 (in this case, one call request can be triggered per snapshot block, approximately 1s). The quota consumption is 23448.The contract developer should stake at least 267 VITE for the contract to execute a contract response for every 75 snapshot blocks, approximately 75s. The quota consumption is 22288. Ideally, the contract can process up to 3455 calls in three days.On EOS the contract code is as follows:To create the contract:The contract developer should create a contract account that consumes 200 bytes of NET and 214 μs of CPU;He also needs to update the contract code and ABI, consuming 704 bytes of NET and 4664 μs of CPU.After the contract is deployed, a total of 10873 bytes of RAM are used, which costs 0.578 EOS.To call the contract:The user triggers a contract call transaction that consumes 96 bytes of NET and 1665 μs of CPU. To perform 3455 calls within 3 days, at least a stake of 0.338 EOS for NET and 63494.205 EOS for CPU is required.Note: On June 11, 2020, the RAM price was approximately 1 EOS buys 18.81 KB RAM, the NET price was approximately 1 EOS gets 0.98 MB NET, and the CPU price was approximately 1 EOS gets 90.6 μs of CPU.Comparison of staking costs between Vite and EOS under different transaction volumes (0.1 TPS means that the contract is executed once 10s):Note: 1 VITE = 0.01538 USD,1 EOS = 2.6601 USD,1 EOS = 5167.98 EOS loan for 30 daysAccording to the table, to deploy the same smart contract on the two platform, the staking cost on EOS is 77240.85x of that on Vite. If the contract serves 5 requests per second, the staking cost reaches a ridiculous amount of $63,354,138.23 on EOS, with the comparison of $819.37 on Vite.Considering the huge gap of staking cost between the two platforms, instead of staking for resources, the user can choose to borrow resources from EOSREX to reduce cost. In this case, to borrow sufficient resources for 30 days, he must pay 4608.637 EOS as rental, equivalent to $12258.97, which is still 14.96x of the staking cost on Vite.SummaryCosts are much, much lower on Vite than on EOS for smart contract;Compared with EOS, Vite is extremely suitable for scenarios like high-frequent execution.Referenceshttps://developers.eos.io/https://eospark.com/https://vite.wiki/tutorial/contract/contract.htmlhttps://vite.wiki/tutorial/rule/quota.htmlOfficial: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enTech Series #6: The Economics of Smart Contract — Vite v.s. EOS was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 28

[ANN] Upcoming Vite Fifth H...

[ANN] Upcoming Vite Fifth Hard Fork & Insights Sharing: Building an Open Finance Application PlatformThis article is written by Vite CEO Charles Liu (https://twitter.com/chunming_liu).It is both an announcement for hard fork, and a part of our Vite Insights series.As a new digital model for finance, DeFi became a hot blockchain topic in 2020. The difference between DeFi and traditional finance is that the former mechanism removes third-party from transactions, by leveraging protocol and code. This makes the financial process more open and transparent, prevents opaque practices by operators, and allows for easier programmatic access and usage.Up to this point, DeFi as typified by applications in the ethereum ecosystem, has exceeded expectations of many. This is the case from the perspective of number of useful scenarios, project market cap, amount of users and total value locked. We’re now closer to mass adoption, thanks to the proliferation of decentralized exchanges, stablecoins, and lending businesses.Simultaneously, we see that, there are many problems DeFi still faces today. Every Defi project has achieved some degree of decentralization from a protocol and code level. And yet, there is a huge disconnect of usage between these projects. It is difficult to transfer value and trust between different public chains; the competition between many stablecoins segments the market, and carves up liquidity; different protocols and applications have their own economic and governance models, thereby creating “islands of value” that disallows interoperability.For example, if a user holds assets (e.g., Bitcoin) on a certain public chain other than Ethereum, it is difficult to obtain a loan via an Ethereum-based DeFi application; also, if someone borrows USDC from a certain platform to pay off a DAI-denominated loan on another platform, this necessitates the hassle of a conversion; lending platforms are unable to rely on pricing and liquidity on third-party DEX for collateral liquidation; in terms of protocol audit, rule changes, interest rate adjustments, and attack mitigation, current DeFi platforms still rely upon centralized governance.As we look to the future, DeFi will become more open, from the phase of “Decentralized Finance” to “Open Finance.”The keyword “Open” in Open Finance can be seen in the following ways:Borderless transfer of value. In this new system, value such as assets and credit can move freely between different public blockchains and different applications.Composability of protocols. In the entire ecosystem, protocols for asset insurance, borrowing, decentralized exchange and stablecoin conversion can inter-operate and be composed on top of one another.Open ecosystem and governance. The community can participate and share proceeds. Anyone can make use of existing protocols and products, participate in the development and audit of protocols, freely compose protocols or types of assets, and affect decisions in a decentralized way.Vite is one of the earliest proponents and practitioners of Open Finance. Before the term “DeFi” was born circa 2018, we had included “ecosystem of values” in a core goal of Vite chain. The idea is to create basic infrastructure and practical applications around asset issuance, decentralized exchange, stablecoins, payment, and cross-chain asset transfers.So far, we’ve been able to complete the foundational layer of public blockchain, decentralized exchange, wallet, and payment technologies. And we are upgrading and operating these products. As a next step, we will continue to lead the industry in the area of Open Finance.Our DEX ViteX became live in July of 2019. Its ability to do on-chain settlements, order-matching, and dividend distribution all owe to the high performance and low transaction cost with Vite chain. ViteX is already completely decentralized and we will look to decentralize governance in the future as well.ViteX is one of our applications in Open Finance. It provides decentralized financial service via blockchain, creates a more open and transparent financial system, and protects user assets. In the future, ViteX will continue to evolve, and make more contributions to the realm of Open Finance.In September 2020, the Vite chain will undergo a fifth hard fork, with the code name “Jupiter.” After this hard fork, ViteX will support “friction-less stablecoin conversion.” As such, users will be able to convert between stablecoins with zero transaction fees.Block height: 39694000Estimated fork time: Sep 1, 2020 13:00 UTC+8go-vite version: V2.10.0Github link: https://github.com/vitelabs/go-vite/releases/tag/v2.10.0Why does ViteX support zero-fee conversion for stablecoins?In 2020, the coronavirus has caused severe movement in traditional finance markets and crypto markets. Investors’ needs for stablecoins have exploded. By July 23, the total stablecoin market has exceed 12 Bn USD. In the first half of 2020, total market cap of stablecoins went up 140%, daily transaction volume rose to 1.5 Bn USD, and total buy-order amounts increased by 50%.Due to their low volatility, stablecoins are suitable for payment and store of value. The rise of DeFi stimulated the use and demand for stablecoins. More than 2 Bn USD of stablecoins have been locked, including USDT, TUSD and DAI. As DeFi continues to heat up, there will be more different types of stablecoins, thereby boosting the need for inter-stablecoin transfers.Per our research, there are very few exchanges that enable stablecoin transfers. ViteX will be the first exchange to enable zero-fee stablecoin conversion.This fifth hard fork is yet another step forward for Vite, in our effort to realize our original vision of “Open Finance.”Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=en[ANN] Upcoming Vite Fifth Hard Fork & Insights Sharing: Building an Open Finance Application… was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 27

Vite Bi-weekly Report

July 1–15, 2020Development AchievementsVite AppVite App v3.7.3 is released on July 14.New features:Two more order entries added to order book from 10 to 12.Address indexes added to “My Address” for Vite and Ethereum assets to facilitate address distinguishing.Reminder of trading suspension. If the operator suspends a certain trading pair, users can see a message on the trading page and cannot place new orders. Canceling existing orders is still allowed.ViteX ExchangeNew features and enhancements:Decimal place display optimization for order price and quantity, to avoid some rendering errors on the trading page and improve order book aggregation.New function to exchange stablecoins with zero fees. This feature will be launched in August.The source code of ViteX Open Gateway is released to facilitate third-party gateway development by operators. The open gateway is implemented on top of Spring Boot and MySQL, and provides the cross-chain mapping function of assets on Vite and on other blockchains. The current version is 0.1.0. Stay tuned for more upcoming improvements in subsequent releases. (Repository link: https://github.com/vitelabs/open-gateway — Connect to preview)Desktop walletVite Desktop Wallet v1.3.25 is released, in which most enhancements are complete according to comments and feedback received from the community since the desktop wallet launched last month.Installation link: https://github.com/vitelabs/vite-wallet/releases/tag/v1.3.25-0Recent MilestonesVite Roadmap UpdatesBased on our evaluation of the industry, experience of exploration and practice, also in combination with results of the community survey, we have made several adjustments to the Vite roadmap that will shift our focus to better expansion of Vite ecosystem and large-scale application of Vite public chain in real-world use cases. The new roadmap will build around the public chain, the App, and the decentralized exchange, with Open Finance and DeFi application scenarios being the points of penetration and focuses of product development and operation promotion. The key is to make the Vite public chain a commonly used chain and make Vite products easy-to-use products so that the Vite ecosystem will carry greater value, satisfy a wider range of needs, and attract more users. Find out more here: https://medium.com/vitelabs/vite-roadmap-review-and-adjustments-e14592c15ae4Vite and Binance Collaboration on “Register and Trade” CampaignFrom July 3 to July 10, Vite and Binance collaborated to hold a “Register and Trade” campaign on Binance.com with prizes of 380,000 VITE and 5,000 USDT in Futures Vouchers.Vite COO Featured at Binance Off the Charts Virtual ConferenceVite COO Richard Yan spoke at Binance Off the Charts Virtual Conference on July 14th as one of the panelists. The discussion was on Emerging Applications for Blockchain and Crypto.Watch the panel discussion:https://www.youtube.com/watch?v=sJinPymuWJ0VITE Burn Over 20,000,000Since the community voted to burn VITE coins in the dividend pool in October 2019, as of July 8, a total of 20,028,050 VITE coins have been burned.Sources of VITE coins for burning:Token issuance fee on Vite ChainViteX trading fees in VITEViteX referral code paymentsFees to open trading pairs on ViteXViteX ExchangeOperator VGATE listed XMV MoneroVOn July 13, ViteX Operator VGATE listed XMV MoneroV, a fork of Monero, and opened XMV/BTC trading pair.MoneroV fulfills the long overdue desire for a truly anonymous, decentralized, finite peer-to-peer electronic currency. Individuals and businesses can transact securely, reliably and anonymously with low fees using MoneroV.Data on VITE and VXAs of July 15, 20,315,862.55 VITE have been burned through ViteX, accounting for 2.03% of total issuance.120,765,820.98 VITE are staked on ViteX, accounting for 12.07% of total issuance.8,940,185.73 VX have been released, of which 8,193,988.99 VX (about 91.65%) are being staked for dividends.To-date, 75.4 BTC worth of dividends have been distributed. The pool of undistributed dividends stands at 30.1 BTC.ActivitiesOur COO Richard published a new episode of the Blockchain Debate Podcast, with the topic “Scaling is impossible without sharding or layer-2 solutions.” The guests were Solana’s CEO Anatoly Yavovenko and independent blockchain consultant Georgios Konstanopoulos. The debate was co-hosted by Tarun Chitra, CEO of the Gauntlet, a blockchain simulation platform.This podcast series helps Vite Labs export our brand and output thoughtful content for the industry. You may listen to all previous episodes here: https://blockdebate.buzzsprout.com. And you are welcome to follow Richard here: Twitter.com/gentso09.Our COO Richard ran a new AMA for the international community. See transcript here: https://forum.vite.net/topic/4024/vite-labs-leadership-ama-july-10-2020-review。The questions followed these themes:New roadmapPlans for listing new coins on ViteXPace of software developmentThe team of core community managers had an internal hangout meeting, and came up with plans for new community campaigns.For instance, ViteX has started a campaign to recruit an ambassador. He or she will run video AMA series with projects listed on ViteX. You may apply here: https://twitter.com/chunming_liu/status/1283907739303817216?s=20The community campaign for coin-listing has also started.Please add your suggestions for new coins here: https://twitter.com/ViteXExchange/status/1281982525414367233?s=20Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 21

Collecting ViteX Listing Re...

It has been a year since ViteX went live. Even though the year 2020 has been tough, we are excited to see ViteX, as a DEX, has come this far, and we are very thankful for the tremendous amount of support and compliments we received along the way from our users, and our operators such as VGATE, Bi23, and so on.ViteX has always been committed to support both new and established blockchains, especially less-known and undervalued altcoin projects, and help drive awareness in the industry. As ViteX is going into an expansion period, we wish to attract more new users through listing projects with high quality and valuable potential, and we’d love to hear your thoughts. Make recommendations of projects you wish to see on ViteX, you will have a chance to win a maximum of 10,000 VITE (~150 USD) if your project gets listed!Rewards Details“Scout” Reward: 5,000 VITE shared by up to two peopleWe will select a project from the recommendations that is most suitable for ViteX. Keep in mind that the hottest projects are not necessarily the best to be listed by us. The selected project will have a pool of 5,000 VITE to be shared by two (2) recommenders at the most. This will be the first person introducing the project, and the person providing the most comprehensive information on the project. It can be the same person!“Liaison” Reward: 5,000 VITE poolAn additional pool of 5,000 VITE will be rewarded to one or more recommenders that successfully lobby the target project to list on ViteX. This set of winners can be completely different from the winners above. Basically, anyone can be our representative, our business development agent, for that project. To be fair, we will not decide who to win this reward, but let the project officials decide. We will ask their opinions on whom to be rewarded at the time of listing.ExamplesScenario 1: Jane Smith discovered a great project called XYZ. She submits the coin recommendation Google form and then contacts the XYZ project team to list on ViteX. The project team agrees to list, and XYZ has been selected by Vite team as the *best* recommended project. Jane happens to be the only person recommending XYZ. So she gets 10,000 VITE.Scenario 2: In addition to scenario 1, Adam Johnson also submitted XYZ and provided extremely comprehensive explanation for why XYZ is a worthy coin. But he is not the first person to recommend the coin. Adam also contacted the XYZ project to list on ViteX, and XYZ project team informs ViteX that both Adam and Jane deserve the “Liaison” reward. So Jane and Adam share the “Scout” reward of 5,000 VITE, and the “Liaison” reward of 5,000 VITE>We will accept recommendations throughout July! Here’s the recommendation form.Selection CriteriaSize of communityScarcity of exchange listingsFrequency and recentness of Github commitsYou will be asked to provide the following information about the project:Name of ProjectCoin TypeTotal and Circulating SupplyCoin InflationCoin Distribution Breakdown (Market, private, team lockup, etc.)ICO or IEO — If yes, please provide details (ex, platform, ICO/IEO size, coins collected).Trading ExchangesSize of Community (if known)Active Social ChannelsEvidence of Active Software Development— Go to Github, select an active repository.— Go to Insights, select Pulse, and change the period to “1 month”— Record the following data:Excluding merges, * authors have pushed * commits to master and * commits to all branches. On master, * files have changed and there have been * additions and * deletions.Example: 12 authors have pushed 100 commits to master and 9 commits to all branches. On master, 56 files have changed and there have been 2 additions and 0 deletions.Links to Official WebsitesExplanation for why you recommend this project (unique concept, hot topic, etc)Other information you wish to provideOnce again, you may find the recommendation form here.We look forward to hearing from you!Collecting ViteX Listing Recommendations was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 11

Vite Roadmap: Review for Q2...

A Letter from Charles LiuDear Vite Community:I am writing about two things regarding our roadmap. First, I will review the milestones we achieved in Q2 2020, which I am very proud of. Second, I will communicate to you some adjustments we are making to the Q3 and Q4 portions of the roadmap. These changes are based on both results of the community survey and a focus on strengthening our flagship product — ViteX.Q2 ReviewLet me run through each item in the Q2 list of milestones.DeFi — Borrowing and Lending: This is discussed in detail in this article. I will only add that, while we are pivoting away from this product, we are focusing on products with much bigger bang for the buck, as you will see in the roadmap adjustments section below.Hardware Wallet — Ledger: Enabled. Command-line installation of wallet app is now available. Ledger app store installation pending approval by Ledger.ViteX in Mobile — Klines: Display of k-lines (aka “candlestick graphs”) has been added to our mobile version of ViteX.One-step DEX Deployment: An initial version of open-source gateway code has been completed. Third-party gateways may now be easily deployed: https://github.com/vitelabs/open-gatewayVite HD Wallet — BTC Support: Wallet app is currently undergoing restructuring prior to commencement of BTC support. We had sent a community survey that is related to the restructuring. (LINK)Vite Web Wallet Upgrade: The main upgrade is interoperability between web wallet and the hardware wallet Ledger.Vite Desktop Wallet: This was released: https://github.com/vitelabs/vite-wallet/releases/tag/v1.3.20Dex Open API: This was released: https://medium.com/vitelabs/announcing-official-vitex-api-and-user-guide-e8ea2db8134e.Q3 and Q4 RoadmapsSee below for the new Q3 roadmap, with explanation:Q3 2020 RoadmapBased on community survey results and internal review, we have decided to delay the release of “Smart contract — scheduling service” and “Vite Naming Service” due to a lack of perceived immediate use. They are no longer included in the 2020 roadmap.See below for the new Q4 roadmap, with explanation:Q4 2020 RoadmapWe are postponing “Vite 2.0 — Alpha Test” and “ViteX on Vite 2.0 — Alpha Test” to allow proper and thorough design for Vite 2.0, and to give room for multiple other new items on the roadmap.For the change to the item “DeFi on Vite 2.0 — Alpha Test,” see earlier discussion on DeFi.ConclusionAs I previously mentioned, I am pleased with our accomplishment in Q2, and I look forward to tackling these challenges as outlined in the new roadmap in the coming months. I am as excited about the future of Vite as ever, and I hope you are as well.If you have any questions, feel free to ask! We are reach-able on our various channels, including our regular AMAs.Regards,Charles LiuOfficial: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Roadmap: Review for Q2 and Adjustments for Q3/Q4 was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 10

The Survey Result for ViFi ...

Dear Vite Community,On June 17, we have sent out a survey about ViFi (DeFi on Vite) asking for your inputs, in terms of the actual demand for ViFi, and borrowing/loan rates acceptable under said demand.Here we would like to share the results with you.Use Cases SurveyThe demands mainly lie in borrowing and lending VITE and VX — 61% in TotalBorrowing VITE (and VX)Statistic shows a majority of participants will borrow VITE at a rate under 15%, who take 67.8% in total plus those with no need.Most people wish to borrow low, which is completely understandable.Lending VITE (and VX)In this chart, 62.7% of the participants want to lend with a yield above 15%.People want to lend high. This is reasonable too.Borrowing USDT and Lending USDTThe results are relatively scattered. But still, 67.8% will only borrow USDT at an interest no higher than 6%, while 57.6% of participants will only lend USDT at no less than 6%.Analysis and Our DecisionBased on the survey, we reached the following conclusions:The majority (67.8%) of participants would only borrow VITE/VX at a rate under 15%; in the meantime, the majority (62.7%) of participants will only lend VITE/VX to others with a yield above 15%. This means only a fraction of the total surveyed group would be able to find a match for their borrowing/lending needs.The total number of respondents was not low, but also not high. When combined with the above fact that only a fraction of respondents will participate, we conclude that usage would not be strong.Staking of VITE to obtain VX consistently yields 20%+, and this already satisfies the 70% of the lending demand according to the survey.We made similar conclusion for the cases of borrowing/lending USDT.Many other priorities await our attention, as you will see in our new roadmap.As such, we have decided to suspend ViFi’s development. To be sure, we can revisit this topic at a later time, when there’s strong evidence of more user demand. Vite is like a high-speed train, which sometimes needs to stop during the journey, to refuel, get more people on board, and head for the next stop. We will not stop the research and exploration of DeFi, but will restart the opinion gathering process on ViFi from the community at an appropriate time in the future.In the meantime, our resources are better directed at other efforts, including continual improvement of ViteX (such as integration with more coins on ViteX, open-source ViteX gateway) and Vite App (Major upgrades and third-party development on Vite wallet), as well as other items to be mentioned in our quarterly milestone review letter.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enThe Survey Result for ViFi (DeFi on Vite) and Our Decision on this Product was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 10

Vite Bi-weekly Report

June 15–30, 2020Development AchievementsVite AppThe development of Vite App v3.7.2 has completed. It is being tested at the moment, and will be formally released soon.New features and bug fixes:Dividend Notification. A notification message will be sent to app when the daily dividend is distributed.Mining logo when switching trading pairs. In the previous version, mining logo was not displayed when switching trading pairs on the trading page. The new version fixes the issue.Localization optimizations for various languages, making the app more friendly to users of different countries.Other minor bug fixes.ViteX ExchangeNew features and enhancements:Candlestick charts for 2h and 4h, which will be available in Vite App v3.7.2.New API endpoint for visiting real-time trade mining statistics. The new API will return the current VX release data and cumulative trading fees in each market, in order to facilitate mining cost estimation.ViteX gateway technical upgrade with enhanced security and robustness.Desktop walletAs an important part of the Vite ecosystem and wallet product family, Vite desktop wallet has been officially launched.Basically, the desktop wallet is similar to Vite web wallet, including the functions of wallet and ViteX exchange.New features:Stricter security rules in protection of private keys, effectively avoiding potential attacks.New account creation. On Vite desktop wallet, user can login through scanning QR code (via ViteConnect), restoring existing account from mnemonic phrase or local backup file, or creating a new account.Wallet backup. Backup your wallet accounts in a JSON file and restore anywhere!In general, Vite desktop wallet is more secure and easy-to-use. It is highly recommended to install if you need to access your Vite wallet account on your computer.Download desktop wallet: https://github.com/vitelabs/vite-wallet/releases/tag/v1.3.22Recent MilestonesBinance Block101 Live Video AMAOn June 19, in a live AMA program hosted by Binance Block 101, Vite CEO Charles Liu shared with audience the new stories of public chain and DEX (Decentralized Exchange).https://youtube.com/watch?v=TDa3MH98WHs…CEO Letter to the CommunityOn June 24, Vite CEO Charles Liu sent out a letter to the community, along with a survey calling for community ideas on new things to build at Vite. Everyone is encouraged to contribute thoughts and interests.Read here: https://medium.com/vitelabs/a-call-for-community-input-from-vite-labs-ceo-charles-liu-1dc96a657ff1Technology SeriesOn June 18, we published the fifth article of the Tech series which answers to questions related to ViteX’s Built-in ContractRead here: https://medium.com/vitelabs/tech-series-5-inside-vitexs-built-in-contract-945d7bb431893 Million BAN Airdrop EventA third round of BAN airdrop has been started on June 28, with a total of 3 million BAN. Users can claim 19 BAN every day by visiting the Vite App. An additional 23 BAN can be claimed each day upon completing several simple tasks.Download the App: https://app.vite.net/Vite Insights SeriesOn June 30, Vite COO Richard Yan published an article of the Vite Insights Series, in which he shared experience on leading a decentralized global team and behind-the-scenes stories of managing the Vite team.Read here: https://medium.com/vitelabs/vite-insights-how-to-effectively-lead-a-decentralized-team-6d1f76774989ViteX ExchangeOn June 16, ViteX enabled market-making as mining for trading pair CGLD/USDT. CGLD is an asset listed and supported by Operator Bi23. ViteX values its Operators and sees market-making as mining an important initiative in boosting liquidity.On June 18, the Dune project held an AMA with the ViteX community and rewarded 7,000 DUN to participants.On June 23, ViteX enabled market-making as mining for trading pair XGM/BTC. XGM is an asset listed and supported by Operator VGATE.Data on VITE and VXAs of June 30, 19,602,884 VITE have been burned through ViteX, accounting for 1.96% of total issuance.129,955,233.02 VITE are staked on ViteX, accounting for 12.9% of total issuance.8,307,408.55 VX have been released, of which 7,711,809.33 VX (about 92.83%) are being staked for dividends.To-date, 69.5 BTC worth of dividends have been distributed. The pool of undistributed dividends stands at 31.1 BTC.ActivitiesVite Labs COO Richard released a new episode of the podcast series The Blockchain Debate Podcast, with the topic around nation-state attacks on bitcoin. Independent crypto analyst Hasu and London-based payment tech entrepreneur Mike Kelly came on as guests.The episode touched upon the incentives, methodology, aftermath and community resolution in relation to nation-state attack.Through this program, we are able to provide our thinking for the industry. This is also an opportunity for the Vite team to build connections with industry thought leaders.All episodes may be downloaded here: https://blockdebate.buzzsprout.comYou are welcome to follow Richard and the podcast at: Twitter.com/gentso09 / Twitter.com/blockdebateOn June 22, our COO Richard spoke at a virtual event hosted by the San Francisco based crypto saloon Starfish, where he discussed blockchain tech with the local crypto community.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 08

Binance Block 101 : Exclusi...

Binance Block 101 : Exclusive Talks with Charles Liu — The New Stories of Public Chain and DEXOn June 19, 2020, in a live AMA program hosted by Binance Block 101, Vite CEO Charles Liu shared with audience the new stories of public chain and DEX (Decentralized Exchange).https://medium.com/media/67b412479d7ce6c51b398cde832eedb8/hrefIn the interview, Charles pointed out that in the blockchain space, people often overestimate the short-term benefits, but underestimate the long-term gains. He personally values projects with solid fundamentals and unique innovations.Charles shares that he established Vite when there was no mass adoptions for blockchain. He hopes that Vite can fill this gap and make blockchain “useful.” The mission of Vite is to provide a high-performance public chain for high-frequency, micro transactions at greatly reduced costs.In terms of DEX, Charles believes that the evolution of DEX can be viewed from the two dimensions of technology and governance. In the long term, DEX will dominate, but this will not be achieved in one step. Exchange needs to gradually evolve from a form of centralization, in both technology and governance, to decentralization in the end.Regarding the future of blockchain, according to Charles, those fields related to value, such as payment, will see usage of blockchain sooner. In the future, blockchain can become a carrier of contracts, laws, and mediums of value exchange between people and machines, or solely between machines.Highlights:“My personal feelings about the market is that we are in a transition period from a bear market to a bull market. The worst time has passed, but the bull has not yet come.”“Don’t take shortcuts. They are often traps. Regardless of investing a company or starting a new business, you must insist on doing the right thing, not the easy thing.”“How blockchain will be adopted in specific scenarios, is the new story of public chain.”“How to deal with the tradeoff between cost and security, is the key problem to be solved by public chain.”“In the long run, DEX will dominate. To achieve this goal and create a perfect DEX, many efforts must be done. Instead of going from one place to another in one step, there will be many intermediate processes.”“Always insist on doing the right thing rather than the easy thing. When facing difficulties, choosing to do the easy thing is the weakness in human nature. Over-obsession with shortcuts can lead to great trouble.”---------------------------------------------------------------------------------------------------------Binance Sisi: Hello everyone. Today, I am honored to invite Charles to our program. Now let’s say hello to Charles. Hi Charles, welcome to Block 101. How about giving us a brief introduction first?Charles: Hello everyone, so glad to attend this Block 101 live broadcasting program. I firstly got to know cryptocurrency and blockchain in 2013. In the next year, I started my company in this space, which was a crypto exchange. I established Vite two years ago. That is the public chain project I’m working on now.Binance Sisi: We are also interested in the channels that you usually use to learn about blockchain?Charles: There is no secret. Similar to everyone, I mainly learn from the Internet, including professional media and independent media. My first-hand information often comes from friends or social groups. If I want to know more about a project, I will read the project’s white paper and the code if necessary.Binance Sisi: This is too hard-core, I feel that many people can’t do that. I will bring up a topic that everyone is concerned about. How do you look at the market? Is it a bear market or a bull market for now? If it is the bear market, how long do you think the bull will come?Charles: Everyone has different answer to this question, and there is no standard answer. My personal feeling is that we are in a transition period from a bear market to a bull market. The worst time has passed, but the bull has not yet come.Let me also share more details behind this thinking. Bull market and bear market reflect the group psychology of people used in value assessment. When everyone is in FUD about an industry or investment space, it is a bear market. On the contrary, if everyone feels that the industry has great prospects for development and wealth, people will become excessive optimistic, even greedy. There are over-hyped visions, and bubbles are created in the market. This is a typical bull market. At this moment, just like you can feel, it is neither the worst bear market nor a bull market. The market is in transition, and a bull market is yet to come.Binance Sisi: I have interviewed so many industry leaders. The answers are very close, it is like everyone is optimistic about the second half of this year and next year.Charles: Yes, personally I am cautiously optimistic about the second half of this year. I am more confident that the market will have a better performance in the next year.Binance Sisi: Charles, I’ve read your profile, you graduated from the University of Science and Technology of China. This is too brilliant! Can you please share some thoughts how you were admitted? Do you feel any gap between your original dream and the reality?Charles: When I was a kid, my dream was to be a scientist and change the world with technology and innovations. I wanted to create a better life for the mankind.When I went to middle school, people often asked, “What are your tips for doing so well in school?” My answer was very short, “The tip is there are no tips”. I never thought about finding shortcuts, such as which reference book to read, where to get the exam paper, and so on. What I want to say is that it is the same when we do a business or investment in crypto space. It is very important to not try finding shortcuts, because there are often traps along with such shortcuts. When we want to make money or run a business, just do the right thing, not the easy thing. Do not attempt to make quick money.Binance Sisi: This industry never lacks people who want to take shortcuts. People said blockchain was scam, at the beginning I thought that way too. I am curious for a highly educated man like you, have you been influenced by those thoughts?Charles: My mental journey is similar to yours. I was in doubt when I firstly touched this industry. I was wondering if the whole thing was just another Ponzi scheme. I spent a lot of time thinking about the following questions. Is there any real value to the blockchain? If so, where is it? Why are there a lot of hype and bubbles, and many of them are speculation or even scams? Why is this happening?I recently read a book named “The Great Game”, which tells the history of Wall Street in the early years and how the US financial system was established step by step. What are happening in cryptocurrency today happened in Wall Street before. Pumping, dumping, various Ponzi schemes, speculations, all of these happened in the history of Wall Street, where some people made a fortune. History is amazingly repeating itself in crypto.Speculation and irrational growth are normal phenomena in the early stage of an industry. They do not represent the essence of the industry, however. In today’s Wall Street, the Internet companies listed on Nasdaq are backed by real value, real technology, real business models and real users. It is no longer in the stage of “irrational growth”. In its path of evolution, the blockchain industry will certainly enter and leave this phase of irrational growth.Therefore, I am not surprised by some problems in the blockchain. We should take a long-term view to see if blockchain technology adds real value to the society. We cannot overestimate the short-term value or underestimate the long-term gains.Binance Sisi: According to your work experience, you were a senior architect in JD.com and a technical director in Meituan Dianping. So what made you leave top Internet companies to join blockchain?Charles: I worked in the Internet industry for many years, mainly in technology and management. I have accumulated enough knowledge of this industry. Why leaving an Internet firm to embrace blockchain? It’s not hard to answer. Here I can explain with an analogy. From the perspective of development trends, the traditional industry belongs to yesterday, the Internet belongs to today, while the blockchain belongs to tomorrow, and the future.The development of the Internet has now entered a highly mature stage. The industry is in a red sea. I still want to invest for the future and do something more interesting and cool.Binance Sisi: Why did you establish Vite? What was the original intention?Charles: I think the development of blockchain has made a lot of progress at the technical level. There are many explorations and attempts, but still it has not been adopted by large-scale commercial applications. In other words, it has not really become useful. There must be something missing. I want to fill this gap and create a blockchain that can really be used.、Binance Sisi: Someone said that the story of public chain has finished, what do you think?Charles: I think the story of public chain is not finished. On the contrary, it is just at the beginning. In the past, there were many stories, including the stories of public chain 1.0, 2.0, and 3.0, as well as how to solve security, scalability, decentralization issues and improve performance. These topics were mostly technical, in terms of how infrastructure can provide higher efficiency and lower costs.How to create business models on infrastructure and build useful applications is a more exciting story of the public chain. I call it “Blockchain+”, which particularly specifies usable scenarios that apply to real economy. This is the new story of public chain.Binance Sisi: Any specific story for public chain in the future?Charles: Depending on the specific usability scenarios in the future, we should not only pay attention to the performance of the underlying infrastructure, like consensus algorithm, protocol, new technologies such as sharding. These are all about technology.We should also look at what scenarios or technologies the public chain is able to integrate with, in order to create real value for our daily life. In one word, we should solve the pain points, and turn what we were not doing well into reality.For example, the integration of blockchain with traditional Internet, 5G, artificial intelligence and autonomous driving will bring much imagination and value. I think they could be the future stories.Binance Sisi: Can you comment on the public chains at present, such as EOS and Binance Chain. What are the differences between Vite and these public chains?Charles: The existing public chain projects now have both the similar and different elements. The common problems, such as solving decentralized trust and network cost, must be addressed by all public chains.The goal of each public chain is different. The reason why there are so many public chains is because the demand is diverse. One case is payment. The demand for payment varies in different scenarios. For example, if you buy a house, you have to pay a lot of money. At this time, your demand for the payment is not fast, but safety. But if you buy a bottle of water from a vending machine downstairs, comparing to safety, the efficiency of payment is more important. In this case, if you pay with Bitcoin for the water, you will realize that the cost is very high due to high transaction fees on Bitcoin network, and the efficiency is very low due to large latency. The water may cost you $2, but the transaction fee is $6, not to mention that you have to wait for 10 minutes before you can get the water from the vending machine. Obviously, Bitcoin, as a well-known public chain, is not good at doing this.In most cases, it is common for public chains like Binance Chain and Vite to process frequent micro transactions. One scenario is DEX, where operations like placing order and canceling order are taking place on chain. In this case, even manual operations happen frequently. It will be inappropriate to implement a trading bot on public chain like Ethereum or Bitcoin. This is the reason why Binance Chain and Vite are designed into a high-performance public chain.Unlike Binance Chain, Vite mainly focuses on how to reduce cost. We want to provide a public chain completely free. Whether you’re making a transfer or calling a smart contract, there are no fees. This is the biggest advantage of Vite.Binance Sisi: What do you think matters most for public chain?Charles: The public chain is an open system, and the security is the most important. Actually, prevention from malicious attacks can cost a significant amount. For example, in order to mine Bitcoin, you need to have sufficient hash power which requires ASIC miners of the latest model and a huge consumption of electricity. They are the costs paid for security.How to handle tradeoff between cost and security is the key issue to be solved by public chain. If the security is the only thing we are concerned with, every transaction on the chain could involve a huge cost, and the public chain will be useless in practice. Actually, many applications don’t need extreme security. From another perspective, security cannot be totally abandoned. If a public chain is hacked due to security vulnerability, the blockchain may fork, user’s assets may get lost, and, in the worst case, the entire network may collapse. Therefore, we must look for a balance between security and cost, which is the essence of public chain.Binance Sisi: What is the difference between public chain and consortium chain?Charles: Blockchain has a core concept — decentralization. Everyone has heard of it. In my opinion, “decentralization” can be interpreted in two ways of technical implementation and governance.From a technical point of view, decentralization refers to distributed ledger. Generally speaking, there are many computers in the network, and they must reach consensus according to the algorithm.From the perspective of governance, it means that in an open system, instead of relying on a central authority to make decisions, it is up to many participants to form a mutual system, running under the constraints of certain rules, jointly making decisions and supervising the execution of the decisions.You will see that in the blockchain space, some projects only need to be decentralized in the technology sense, but not in the governance sense. For example, private chains or consortium chains are tamper resistant and traceable, but it is not necessary to implement decentralized incentive models and community governance.In turn, some projects only adopt decentralized governance. Platform coin issued by centralized exchanges is such an example. Before the launch of Binance Chain, the presence of BNB stands for a form of decentralized governance. BNB holders can jointly decide what cryptocurrency will be listed on Binance exchange and can even share the exchange’s revenue, but the exchange is still implemented in centralized technology. Another example is the mining pool. There are many miners in the mining pool. Any miner in the pool who mines a block will share the mining rewards with all miners. In this case, the organization is decentralized, but no decentralized technology is used.Binance Sisi: What is a token-free blockchain? I am also curious.Charles: Let’s think about what role the token or coin plays in the blockchain. Tokens in blockchain are mainly an incentive for decentralized governance. The token of Bitcoin is invented to incentivize Bitcoin miners. In this case, users need to pay miners with Bitcoin as transaction fee. Decentralized governance systems must take incentives into account, and the most widely used method is through tokens.Although the token-free blockchain also uses blockchain technology, it is not a decentralized governance system. It is usually operated by a company or government agency, and relies on strict access control and laws to limit and punish bad actors.Binance Sisi: Someone in chatroom just raised a question to Charles. Charles, can you comment on Loopring and your former partner Daniel Wang? Thank you.Charles: In 2014, Daniel and I co-found a crypto exchange. Daniel was the CEO and I was the COO. We share similar values. We both pay attention to the fundamentals of a project and focus on “doing the right things”, because we have seen too many lessons of others in the crypto space.Meanwhile, Daniel and I both have an “exchange dream” because we believe exchange is a real scenario where blockchain can be truly useful.Binance Sisi: Let’s talk about Vite. Can you tell us the current status of the Vite community? Also for the future plans, what are the goals and missions?Charles: Most of the Vite team is located in China. We have two offices, one in Beijing and the other in Silicon Valley. The development is done in China, however, we have a big international community and users distributed across 190 countries in the world.For example, the top 5 user groups of the Vite mobile app are from the United States, Russia, Vietnam, Indonesia, and China. The DAU is about 20,000.At present, the real transaction volume on the Vite public chain is large. Where does the volume come from? The main reason is that Vite is not an idle chain, and there is a high frequency application — ViteX. The current trading volume on ViteX is around 100 BTC per day, which is a satisfactory number for a DEX.We have also made attempts in payment. Now there are a bunch of merchants in Singapore accepting VITE. In Singapore, you can use VITE to pay taxi fare from the airport. There is a five-star hotel in Singapore called CÉ LA VI, where in the SkyBar on the top floor of the hotel customers can spend VITE for meals. In the long term, we have plans to serve more merchants.In addition, we are also exploring the cooperation with government. We entered into a pilot program with the American city of Syracuse to launch a project naming “Syracuse Coin,” to tackle local housing issues for low-income residents. In China, we created the “Anti-epidemic Materials Tracing Platform”, particularly for fighting with Covid-19 outbreak.Binance Sisi: Recently, the topic of DEX is very hot. Charles, what do you think?Charles: In fact, DEX has been explored by many parties for a long time. For example, Binance has launched Binance Chain and Binance DEX. Vite continues to explore in this space and is doing a great job.Let’s look at the evolution from centralized exchange to decentralized exchange, from the two dimensions of technology and governance. In the long run, DEX will definitely dominate in the future, but this will not be achieved in one step. Exchange needs to gradually evolve from a form of centralization, in both technology and governance, to decentralization in the end.I have seen many DEX projects follow this path to move toward decentralization, in terms of tech and in terms of governance.How does an exchange match orders and conduct settlements on-chain? This is the technical perspective.From the governance perspective — Although the exchange is deployed on the chain, there are still design choices for how to distribute revenue, and how to modify emission rules of platform tokens. These items also need gradual transition from centralization to decentralization.For a DEX, if only on-chain matching and settlement is implemented, but there is no decentralized mechanism to determine listing decisions and dividends, it cannot be called a “true” decentralized exchange.The governance’s transition from centralization to decentralization usually takes a cold start first. Here I highly agree with the ideas of CZ, by starting with a centralized governance model, and then gradually transitioning to community’s governance.In the future, whether a DEX is truly decentralized in both technology and governance, is the new story of DEX.Binance Sisi: Till today, there is no convincing scenario for blockchain to integrate with the real economy. So where do you think the blockchain will most likely fit into the real economy in the future?Charles: Blockchain represents the future. In fact, blockchain is not a technology nowadays. Although today the blockchain technology seems kind of incapable, if you look forward to the future, you will understand that the blockchain really matters, and some jobs can only be performed by blockchain.At present, most of usable scenarios are related to value, in terms of value’s storage, circulation, and exchange. They are represented as payment gateway, DEX, and DeFi in the end products.I have a long-term vision. With the development of AI, our daily life and social organization will change in the future. For example, it is not hard to imagine that there is no taxi driver when the self-driving technology matures, and what are present on the road are all driverless cars. The society is composed of people and machines. Since AI will play a much significant role in the society, the original system of people will not work after the machines join in.In the current society, people are regulated by law, which is entitled by national power. People are not robbing banks and committing murders out of fear for losing their freedom and life. If a society is constituted by machines, the current legal system is no longer effective because machines are not afraid of going to jail or being killed. They will break the law. At this time, the blockchain, as the next-generation social contract across machines, and the value transmission medium between people and machine, must emerge to regulate machine behavior.People take driverless taxis. How is the passenger chosen? Is there a detour made? How to judge the responsibility of traffic accident? Blockchains are best suited to answer these questions. The more the development of science and technology, the more the importance of blockchain.Binance Sisi: Well, today I asked a lot of questions that we want to know. Thank you very much Charles. Thanks for coming to Block 101. We look forward to seeing you again in our future live broadcasting.Charles: Thank you all, and thank you Sisi.Link to Video: https://www.youtube.com/watch?v=TDa3MH98WHsBinance Block 101 : Exclusive Talks with Charles Liu — The New Stories of Public Chain and DEX was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 07. 07

Vite Insights: How to Effec...

This article is written by Vite Labs COO Richard Yan. If you have any comments, please reply to https://twitter.com/Gentso09. All rights are reserved by Vite Labs.It is no secret that Vite Labs is a global team. Our community knows that our R&D team is based in Beijing, and our international operations & marketing team is based in Silicon Valley. In addition, one of our business development managers is in New York City. And our community managers are in Ukraine, Vietnam, Germany, Japan, the Philippines, Brazil, Turkey, Indonesia and China. The recent coronavirus situation requires many in our regional offices to work from home, which further decentralizes our team.The geographical dispersion, timezone difference, along with cultural and language disparities create challenges for effective collaboration. But through careful planning and disciplined execution, we believe we have largely overcome said difficulties. That is, to a large extent, we’ve been able to make sure all colleagues are kept updated of the R&D progress, follow the upcoming marketing roadmap, and feel a sense of belonging in one family.For other projects and anyone working in a global team environment, here are some tips that might be helpful.Infrequent and effective meetings preceded by detailed agenda write-upAt Vite, team members communicate with each other via real-time apps like WeChat Work and Telegram. But we emphasize the importance of writing long-form, thorough pre-meeting plans on our internal wiki’s (Confluence). Writing helps the meeting organizer think through the outcome they want from the meeting and pre-communicates details to maximize preparation from participants. Sometimes, writing such a pre-meeting plan may obviate the meeting altogether, as all key points will have been conveyed in advance. Here, we borrowed a page from Amazon’s pre-meeting memo requirement.The art of asynchronous collaborationAcross different timezones, inter-dependency collaborations could get frustrating. Imagine collaboration on a marketing campaign between two team members, A and B, in Beijing and San Francisco. A sends B raw materials, B adds to them, and then A finalizes the campaign document. All of this is happening asynchronously, which means when A is sending B a message, B is off the clock; and vice versa. If A does not send everything B needs to do her work, B’s progress may be blocked for 24 hours. At Vite, for cross-timezone communications, we encourage each team member to put themselves in the shoes of their remote collaborator, and be thoughtful and exhaustive about providing items the other person needs in such asynchronous communication.Sometimes it’s not about incompleteness of communication. But mis-communication. To combat this, we encourage repetitive communications. This doesn’t mean copying and pasting the same message multiple times. Instead, this means stating the same thing multiple times in different languages (if applicable) and stating clearly the converse (i.e., “this is what I want, and this is what I DON’T want”).For more on this, Basecamp has great insights on communications for remote work.Regular team happy hours, or “hangouts”Culture not only makes work fun and pleasant. Culture also gets the team so fired up about work, that they think about work during off-hours, and make positively surprising contributions (a novel idea, or going the extra mile on a project). One way to strengthen cross-timezone culture is to run regular online happy hours. At Vite, this means community hangouts on Telegram, where Beijing, San Francisco and our global community managers have a long, free-form discussion on Telegram. We do this at different times of the day to accommodate different timezones. Sid Sijbrandij of the all-remote company Gitlab (1300 employees) talks about global pizza parties that serve a similar purpose.Chat room hygiene: Policies to separate work chats from leisure chatsIt may seem trivial, but colleagues’ divergent expectations for chat room behavior can lead to unpleasant outcomes. Our more bubbly and outgoing coworkers love using emoji’s and GIF’s, or are in the habit of discussing crypto-adjacent topics in work chat rooms. Simultaneously, our more engineering-minded coworkers prefer strictly professional talk and dislike sorting through frivolous or tangential materials for essential work items. The easy solution is to create a separate chat room dedicated for fun, and set rules for discussions in chat rooms of a more serious nature.Objective performance reviewsPre-determined and publicized metrics, with proper definitions and weightings, make the review process less arbitrary, and make the results more easily acceptable to reviewees. This is certainly true for non-remote work, but even more so for a remote team. At Vite Labs, our sub-teams each have a review system. In general, teams with daily, in-person interactions have a peer review system; and teams that are largely remote have a manager review system. Regardless, clear objectives are set at the beginning of each review period, and managers have 1–1 with team members to share review results and collect feedback.ConclusionThe future of work may become ever more remote, thanks to the pandemic situation we are in. Indeed, Coinbase, Twitter, Shopify and other major tech firms have announced that all or a substantial portion of their workforce can expect to work from home indefinitely. Effective management of remote teams will become an essential skill for new business leaders. At Vite Labs, we are proud of the way we have led our decentralized and international team so far. And we look forward to perfecting our practice and continuing to deliver on our commitment to the community.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Insights: How to Effectively Lead a Decentralized Team was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 06. 30

A Call for Community Input ...

A Survey for New Products/Services for ViteDear Vite community,Time flies! Vite is now two years old since we first published our white paper in 2018.In the past two years, we delivered the Vite public chain, ViteX DEX, Vite app, Vite block explorer, Vite API/SDKs, Vite Pay, Vite Store with many upgrades and improvements along the way. We are particularly proud of the Vite app, a one-stop shop for all things Vite, including a multi-chain wallet and ViteX.Having delivered nearly all key items we originally set out to create, we are now ready to undertake more ambitious missions. And we enter this new phase with a product-first mentality, the idea that we want to build things our community truly needs. We hope this mindset has been clear to you all along. “Making something the community needs” is, after all, aligned with the crypto ethos of decentralized governance.Indeed, in the past, we’ve found that many great product decisions came from the community’s input. Recent examples include VX’s release curve, excellent altcoins to integrate on our gateways, and the stablecoin zero-fee conversion feature.Therefore, today, we are asking you, our community, to share your ideas for what systems/products/tools/features Vite should build next. Please complete this short survey: https://docs.google.com/forms/d/e/1FAIpQLSfF3NWRaxCf2_-gFylvWvZ7P5-KyeZuiL_1icOnv6nTXIV10g/viewform.No suggestion is too big or too small. They can be related to DEX, public blockchain, wallet, or anything else in the crypto universe. They don’t need to be anything on the current roadmap. And indeed, your ideas will be pivotal as we consider next steps in our roadmap.(By the way, watch out for an oncoming review of our Q2 deliverables in a separate note)Now, of course, as a matter of practicality, not every idea will be implemented. But at this stage, we would like to keep our mind as open as possible in hearing your ideas that would shape the future of Vite.Thank you!Charles LiuA Call for Community Input from Vite Labs CEO Charles Liu was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 06. 23

Tech Series #5: Inside Vite...

As a high-performance decentralized exchange, ViteX implements both matching engine and economic model in the built-in contract vDex, satisfying both design simplicity and system robustness. In the previous article “ViteX Contract Design and Implementation”, we have discussed the design details of ViteX. As a follow-up, this article focuses on a few FAQs to further explain the background, issues and solutions.Why vDex is implemented as two contracts, not oneIn ViteX, order matching and economic model are two important but irrelevant functions so that it does not make sense to put them in the same contract, which may cause confusion for developers and API users. In addition, matching engine is a basic function for exchange, it will be easy to upgrade independently after decoupling from the economic model. Based on the thought, we separated the functions as contract dexFund and contract dexTrade. DexTrade implements ViteX’s order book and order matching engine, while DexFund performs functions related to the ViteX economic model such as asset management, mining and dividends.2. Why two types of order id are usedWe studied the structure of order id in the previous article. The order id, referred to here as baseOrderId, is designed to maximize performance boost through on-chain order sorting and efficient matching. In the “Stem” hardfork of Vite, a new order id, hashOrderId, was added too. As the name indicates, hashOrderId is composed of the value of transaction hash in which the order is placed. Unlike baseOrderId is generated by contract, hashOrderId is created when the order is placed by user without waiting for vDex’s response, which makes it possible to be used for convenient order status tracking and perform subsequent actions accordingly. In summary, hashOrderId is often used by client program like trading bot while baseOrderId is designed for improving matching efficiency.3. Why two order cancellation interfaces existBecause the ViteX’s order book is stored in dexTrade, and to cancel an order only the order book has to be accessed, so in early version of ViteX the interface of order cancellation is in dexTrade. However, order placement is based on the dexFund contract in the purpose of locking up funds, which leads to inconsistent design for order placement and cancellation. In the actual execution of the contracts, an order, after placed, may immediately be cancelled before it is written into the order book in dexTrade due to on-chain consensus delay. At this time, the cancellation fails since the order does not exist in the order book. To address the issue, we have added a cancellation interface in the dexFund contract in recent fork “Mars”. In the new design, for an given order, the guarantee of sequence of requests on user’s account chain ensures that the cancellation request will definitely be processed by the smart contract after the order is placed. Comparing the two interfaces, the new one produces deterministic execution result at a cost of introducing an additional step to pass the cancellation request from dexFund to dexTrade, and is recommended for automated trading tools to use.4. How to improve the performance of order matchingTo improve the speed of order matching, the common practice is to put the best orders or all orders into memory for efficient access. However, for smart contract, due to the limited ability to access the storage provided by the blockchain, the order book cannot reside in memory. At this time, one way to consider is to make full use of the underlying storage to ensure that the order book is stored in an orderly manner, so that the matching process only requires sequential iteration. By using price as part of order id and using order id as the storage key of levelDB, the matching process can be completed by a simple key sequence traversal. This solution is simple and highly efficient.5. How to reduce storage occupationThe cost of on-chain storage is extremely high. In order to minimize data storage, we have adopted the following approach. First, serializing objects through Protobuf to reduce the size of data. Second, avoiding redundant data storing. It is mainly reflected in the processing of indicators related to mining and dividends. If an indicator has not changed for a time, only the earliest value is stored. Third, using both real-time cleanup and regular cleanup. For the multi-version indicators accumulated in mining and dividends, old data are deleted in real time for the indicators have been updated. Regular cleanup applies to order book. In order to avoid unlimited expansion of the order book, a timeout timestamp is set for each order and expired orders will be recycled regularly.6. How to increase the reliability of vDexAs built-in contract, each line of code of vDex is written protocol. Simplicity and reliability must be fully addressed. Over-design would increase the code size unnecessarily, as well as the number of bugs and errors in the end. Based on the principle of simple design, the data structures of vDex are as simplified as possible. Only core data that usually won’t change are stored on chain and other non-related information is stored off-chain. ViteX’s off-chain data service supports sophisticated query and data display. At the code level, we restrict the number of lines of code for a single function. By splitting functions, naming function with meaningful name, code duplication is also reduced. The target is to make the code clean and easy to read. Finally, the built-in auditing function will regularly verify the correctness of contract execution result, ensuring the safety of user’s assets.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enTech Series #5: Inside ViteX’s Built-in Contract was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 06. 19

Vite Bi-weekly Report

June 1–15, 2020Development ProgressVite AppVite App v3.7.1 has completed development and was submitted to App Store (iOS) and Google Play (Android) separately on June 10 and 15. The new version has the following updates included:Bug fixes. In version 3.7.0, Vite Android App may get stuck on trading page under slow internet connection, the problem is solved in 3.7.1. In addition, the new release also fixes repetitive popup notifications in trading page and unexpected app crashes during candlestick chart rendering.New enhancements:a. In the previous version, after a transaction is sent, a “Success” message is displayed on screen and the user has to manually close it. In order to improve user’s experience, in the new version the message box will show up for one second, then automatically closes.b. A new “limit of single withdrawal” hint is added to app’s withdrawal page. Users can hit on the “!” icon to view the maximum and minimum withdrawal limits for the selected cross-chain token.ViteX ExchangeAccording to user’s feedback about the excessive long loading time of mining page and dividend page, special optimizations have been conducted to significantly improve the loading speed. Currently, cycles of 1 minute, 30 minutes, 1 hour, 6 hours, and 12 hours are supported in ViteX’s candlestick chart. We’ve added 2-hour and 4-hour as well. The new cycles will be available soon. In addition, we have upgraded the ViteX API service. In the upgrade, database schema and index are optimized, effectively reducing the latency of order querying and increasing capacity for large visits.New vite.orgThe product design and visual design of the new official website have been completed. After development is done, vite.org will be present in front of everyone with a new look.Recent MilestonesVite Labs Partners with OKChainOn Jun 4, Vite Labs announced an official partnership with OKChain in building together a decentralized trading ecosystem. As an ecosystem partner, Vite and OKChain will cooperate in the following aspects:Vite Labs will participate in the OKChain Supernode Plan, and OKEx will continue to operate the SBP(Supernode) of Vite.The two parties will jointly develop an open decentralized trading ecosystem, and share DEX operation and governance experience.Vite Labs will list OKChain’s native token OKT on ViteX exchange and support OKChain in Vite App.The cooperation aims to build a more open and fair-for-all cryptoasset trading ecosystem, which will contribute to the development of the entire blockchain industry.VITE listed on OKEx KoreaOn June 6, VITE got listed on OKEx Korea and pair VITE/BTC is actively trading in the market. VITE listing on OKEx Korea will further boost market liquidity and help the project to reach a larger global audience.ViteX Operator Bi23 Listed CGLDOn June 9, ViteX Operator Bi23 listed CGLD (Celo Gold) and opened trading of pair CGLD/USDT. Celo is an open platform that makes financial tools accessible to anyone with a mobile phone. CGLD (Celo Gold) is a utility and governance asset for the Celo community, which has a fixed supply and variable value. With CGLD, you can help shape the direction of the Celo Platform.Data on VITE and VXAs of June 15, 18,932,417 VITE have been burned through ViteX, accounting for 1.89% of total issuance.137,740,453 VITE are staked on ViteX, accounting for 13.7% of total issuance.7,737,734 VX have been released, of which 7,100,355 VX (about 91.76%) are being staked for dividends.To-date, 64.9 BTC worth of dividends have been distributed. The pool of undistributed dividends stands at 31.8 BTC.ActivitiesOur COO Richard released a new episode of the Blockchain Debate Podcast. The latest debate topic is “Motion: Corporate bailouts and capital market rescues make sense, Part 2.” The guests are Nick White, co-founder of Harmony and Jonathan Padilla, head of Blockchain from Paypal. The discussion is around the legitimacy of QE by global central banks and bailouts of essential businesses by governments around the world. Cryptocurrency was born out of concerns for currency debasement and invisible tax as a result of these policies. As such, this debate is directly related to the existential reason for cryptocurrency.Our COO Richard also ran a new regularly-scheduled community AMA. The purpose of the AMA is to increase our transparency and quickly iterate product features upon the community’s suggestions. As such, we will continue to conduct these AMA sessions.We provided detailed response to questions from the community. See transcript here: https://forum.vite.net/topic/3936/vite-labs-leadership-ama-jun-10-2020-review. The questions fall in these three categories:Status update of Q2 roadmapMarketing and evangelism of ViteXDetails of partnerships with other projectsVite had an internal community manager hangout with participation from our core community managers (English, Russian, Vietnamese, Arabic), where we jointly planned on multiple marketing campaigns. These campaigns include AMA with the communities at well-known exchanges and contest for coin-listing recommendation.We sent a survey to the community in regards to local economies. 104 members from 30 countries responded. Per this research, we saw a positive correlation between interest in crypto from high net worths and the deterioration of economic situations. A whopping 30% of respondents are highly suspicious of the integrity of local banking systems. Venezuela, Nigeria, Russia, Turkey and Ukraine are experiencing severe inflations. In particular, daily groceries in Venezuela are quoted and settled in USD, and local residents regularly convert from fiat to crypto. Here’s the summary of the research: https://medium.com/vitelabs/vite-insights-vite-survey-on-global-economies-e32948f25894Recently, members of our international community created multiple social media accounts to help Vite with marketing, for which we are deeply thankful!Here are a few examples:twitter.com/blogvite tweeted a video celebrating two-year anniversary for Vite. Members of many partner companies of Vite made an appearance in the video: https://www.youtube.com/watch?time_continue=4&v=QH2ueuHWZZw&feature=emb_logotwitter.com/vitenews collects and distributes Vite-related content (from Telegram AMAs, videos from Youtube content creators, GIFs from fans).Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 06. 18

Vite Bi-weekly Report

May 16–31, 2020Recent MilestonesVite Labs Plans to Integrate Chainlink OracleOracles are important for Vite’s ecosystem development. High-quality oracles ensure reliable, diverse and decentralized off-chain data feeds. Chainlink is one of the longest-running and best-known oracle technology providers. After integrating Chainlink oracle, Vite will bridge the on-chain and off-chain data gap, more efficiently integrate decentralized systems with traditional centralized systems, further expand the function of the Vite gateway, and lay the foundation for building and improving applications such as decentralized derivative trading, VitePlus, VitePay, crypto ATMs, blockchain-enabled IoT, and more.Technology SeriesOn May 27, we released the technical article Design and Implementation of ViteX Back-End Service. This article explains built-in smart contracts within ViteX, from three angles: design, performance and system reliability.Vite Community Star ElectionOn May 20th, we released the Vite Community Star Global Election Campaign. The selected “Community Stars” will be displayed on the new version of vite.org.Vite Mentions on Twitter SoaredPer XTrading, Twitter mentions of Vite increased by 331% over the last month. This growth rate ranked #2 among all cryptos tracked.Data on ViteXAs of June 1, 18,042,819 VITE have been burned, accounting for 1.8% of total issuance.138,435,458 VITE are staked on ViteX exchange, accounting for 13.83% of total issuance.7,110,327 VX has been released, of which 6,563,963 VX is being staked for dividends.To-date, 58.4 BTC worth of dividends have been distributed. The pool of undistributed dividends stands at 32 BTC.System DevelopmentsVite AppVite App V3.7.0 has been finished developing. On May 28, we submitted iOS version to the App Store for review. On May 29, we submitted Android version to Google Play for review.V3.7.0 mainly solved the following problems:Rewriting the transaction detail page in native code. In previous versions, when users viewed the detailed information of Vite transaction records, it jumped to H5 page of the block explorer, which took a long time to load, and cannot copy fields such as address and transaction hash. In V3.7.0, when users click on transaction record, the transaction details will be displayed directly in the App. The user can also copy address, transaction hash, and other fields with a smoother experience.Optimization of the exchange page. After the V3.6.0 was released, users provided us with suggestions for improving the exchange page experience. We have optimized it in V3.7.0. These optimizations include:No prompt of quota consumption will be displayed before the order is placed or cancelled.Users will be asked to confirm the pending order about price and quantity after clicking “buy” or “sell” in order to avoid mis-operation of placing an order.Display of order positions have been added to the candlestick page and the trading page.Maximum quantity limit has been added at the amount of buying/selling. A prompt of “insufficient balance” will no longer be displayed.“+” and “-” buttons have been added to the price and quantity input area, which is easier for changing price or quantity.A prompt of effective market-making order ranges has been added.Renamed Comment in English. Recently, there were feedbacks about where to fill memo when transferring VITE to Binance or OKEX exchange. Therefore, we renamed Comment to Memo for the habits of our community.We have fixed some bugs in V3.7.0. For example: the missing of candlestick subscription data; incorrection of price automatically filled when the order page is switched to buy/sell.ViteX ExchangeOn May 27, Vite Mainnet successfully completed its fourth hard fork. ViteX built-in contract has also been upgraded. As of now, Vite Mainnet is stable and has a normal block production rate. New functions have all been effective. After this upgrade,ViteX order operation logic from clients and API will remain consistent, and the result of order matching will also be deterministic.In the previous version, the candlestick data needs to be calculated locally on the client side, resulting in data out of sync among different clients. In the new version, we have optimized the candlestick service by calculating data on the server side to secure data consistency.In addition, the official ViteX Python SDK and Java SDK have been developed and will open source soon.Official Website UpgradeAfter the community vote, the design style of the new official website has been determined. At present, we are revising according to the selected design style, and optimizing the content of the website.ActivitiesOn May 22, our BD Director Isda, core developer Jie, and Marketing Manager Christy participated in the “Pizza Day Carnival” organized by Jinse Finance and Huobi, and commemorated the “festival” with many Chinese blockchain practitionersOur COO Richard hosted Messari’s advisor Qiao Wang and Bitcoin maximalist Jimmy Song on a new episode of The Blockchain Debate Podcast. The topic was on corporate bailout and capital market rescue. This is on the back of unprecedented amount of quantitative easing from the US Fed. The crypto-native narrative is that such actions would enable growth of bad debt fueled by excessive liquidity and rob the people of their wealth by increasing prices of goods and assets. As such imprudent monetary policies created the need for crypto, this debate topic is apt for the crypto community. As previously mentioned, this podcast is one way for us to expand our brand recognition and network with industry thought leaders.All episodes are available at: https://blockdebate.buzzsprout.comYou’re also welcome to follow Richard (https://twitter.com/gentso09) and the podcast (https://twitter.com/blockdebate) on Twitter.On May 21, our COO Richard conducted an AMA in Vite telegram group, answering over 20 questions from the community including suggestions for product improvement and marketing plans. Our development team has made targeted developments on these improvement suggestions. The AMA record can be viewed here: https://forum.vite.net/topic/3856/vite-labs-leadership-ama-may-21-2020-leave-your-questions-here/1Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 06. 05

Vite Community Star Global ...

As we have mentioned, Vite.org will have a new look! We are rebuilding the website to make a better display of the project.The community section has also been re-designed and we have therefore conducted a 2020 Vite community star election.We would like to thank those who participated for your support and decided the following winners upon our careful selection.Winners of 2020 Vite Community StarHere’s the winner list of 2020 Vite Community Star (telegram ID, ranked in no particular order):@huydo @moneyvore @aumi121 @Moony127 @Greek1313 @NRZelenskiy @id_daniel @makesushi @ThinksLikeYouSouldWe have made a certificate for each of the winners. Please contact our community managers on telegram to claim your certificate!We will reveal their contributions on our new website, congratulations to our community stars! Thanks to everyone for participating in this campaign. See you in our groups!Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Community Star Global Election Winners was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 06. 02

Vite Insights: Vite Survey ...

This article is written by Vite Labs COO Richard Yan. If you have any comments, please reply to https://twitter.com/Gentso09. All rights are reserved by Vite Labs.Cryptocurrency at its heart is an economic phenomenon. Cryptocurrency’s ethos of sound money and disintermediated financial system were born out of a world of irresponsible currency debasement and inefficient and corrupt banking. We at Vite recently conducted a survey among our global community, to check the temperature on economies around the world, where Vite enthusiasts dwell.This survey confirms our view that interest in crypto as an asset class is positively correlated with declines in economic conditions. Our questions are about local economic conditions and how people are making decisions regarding their wealth allocation. The responses show that the world economies are in shambles, public trust in banking institutions is extremely low, and there is significant interest in moving assets into crypto by each country’s wealthy citizens.Survey DemographicsThe survey was completed by 104 members of the Vite community across 30 countries. The top five most represented countries are: Nigeria, the Philippines, USA, Turkey and India. About 30% of the respondents’ countries are from G7 countries.Countries represented in the surveyHere is a quick glimpse of their backgrounds. The top five professional categories are students, engineers, freelancers, unemployed, and sales.Professions represented in the surveyAbout two-thirds are currently required to stay home due to local lockdowns. Let’s not forget that the coronavirus has been the nail in the coffin for many deteriorating economies, a sentiment reflected in many comments from the survey takers.Survey takers required to stay home due to coronavirusConfidence in the EconomyWe asked about prospects of jobs and sentiment regarding local economy, real estate, and stock market. Unsurprisingly, the results are quite bleak.Upward mobility is not strong. About one third said it would take them more than six months to find a job with a higher salary.Time it takes to find another job with higher payAlarmingly, a whopping 37% believe their countries are facing imminent default of national debt.Opinon on countries facing imminent default of national debtInterestingly, this view is not too different between G7 and non-G7 nations. Below is the same chart for G7 nations only.Opinion on countries facing imminent default of national debt, for G7 onlyAbout 40% feel pessimistic about their country’s future economy. Below, 1 = very pessimistic, 7 = very optimistic.COnfidence in economy, 1 = very pessimistic, 7 = very optimisticAlmost 50% believe that real estate market (for the most developed city in their country) will decline in the next twelve months. More than one-fifth believe the market will be down by more than 20%.Survey on local real estate market in next twelve monthsAbout 56% believe that the stock market will drop in the next twelve months. About 28% believe the market will tank by more than 20%.Survey on local stock market in next twelve monthsThe respondents’ detailed accounts of their local and personal circumstances are illuminating. The complaints about local economies at non-G7 nations are especially severe. Here is an example from a Brazilian community member, who keeps 100% of their wealth in crypto, as she feels completely disillusioned by the failure of the state. Here’s her comment, lightly edited for clarity:I think (the Brazilian) government will disappear. Most basic services in Brazil have been halted or are offered at a minimum due to imprudent fiscal management…That is why I am 100% in crypto.In a separate discussion between her and the survey organizer, this person offered other details:Regular local protests are disrupting traffic, hence preventing timely re-stocking of inventory at supermarkets and provision of petrol at gas stations. The under-funded postal service has been reduced to only twice a week. Hospitals are understaffed or have strike-induced closure, which was a big problem for her when she had an allergy emergency.Confidence in Banking & MoneyWe asked about inflation, corruption in banks, and how people are allocating their wealth.15% sees strong inflation. Venezuela, Nigeria, Russia, Turkey and Ukraine have the highest percentage of reports of strong inflation.In survey comments, we see that in Venezuela, due to hyperinflation, the currency is so untrustworthy that even groceries are priced in USD. And in Ukraine (and in Venezuela), real estate prices are quoted in USD.Current inflationTrust in banks is extremely weak. 30% think their banks are very corrupt. Of the respondents that consider their banks trustworthy or have no comment on corruption, about 10% indicate extremely high fees or interest rate at these banks.Opinions on local banking systemWealthy citizens are eager to move their assets into safer stores of value, such as reserve currencies, precious metals or crypto. A whopping 62% of respondents think their nation’s wealth class is moving assets into crypto. Otherwise, USD is the top “traditional” safe-haven asset, with 44% of the respondents agreeing that the wealthy are moving their net worth into USD. Note that allocations to these different stores of values are not mutually exclusive.Interest of wealthy individuals in moving assets to various stores of valueWe then asked each respondent for their own asset mix. About 90% own some crypto, and about a third allocate at least 40% of their net worth in crypto.Assets in crypto by survey takersAs previously mentioned, respondent comments with details are especially eye-opening.Here is the input from someone in France, who keeps 30% of their net worth in crypto (lightly edited for clarity):On banking: If I could, I wouldn’t use banking system anymore. The fees are way too high for simple tasks.On asset allocation: I am also Lebanese, and my second country (Lebanon) is the perfect example of inflation. People there are trying to get rid of Lebanese Pound since it lost its value more than 2 times. Everyone is trying to convert to USD (second official currency) but banks don’t have enough of it. USD is getting rare. So a few relatives of mine are also investing in gold to prevent a major crash.It’s worth noting that, amid the mostly gloomy answers regarding inflation, government debt and banking corruption, we do see very positive responses in these areas for two countries: Germany and Japan. But these two are exceptions than the rule.ConclusionThis survey confirms our prior about the state of the world’s economy and the extent of public interest in their respective countries’ future development. The coronavirus induced economic crisis will accelerate the accumulation of national debt, spur further money printing that debases fiat currency. This will also expedite the movement of assets into new kinds of money: Money that is provably scarce, has transparent and modest inflation schedules, and that will bring about efficient and cost-effective financial systems.What do you think of the survey results? Does anything stand out as surprising? Do the results jive with your local situation? We’d love to hear from you. Feel free to DM or reply on Twitter (twitter.com/vitelabs).Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Insights: Vite Survey on Global Economies was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 06. 01

Tech Series #4: Design and ...

ViteX, a built-in decentralized exchange on the Vite chain, plays an important role in Vite’s ecosystem. ViteX is composed of a built-in contract (vDex) and an off-chain service (DexServer). Orders are matched in vDex, fully leveraging the benefits of blockchain — decentralization, safety and reliability. However, storing all the data on the chain is very expensive, and is not a good practice. In order to provide users with fast and efficient data query service, we designed the off-chain service DexServer, which is responsible for synchronizing open/historical orders, matching results, operational statistics and other metrics on the chain, and provides the query service.According to responsibilities, DexServer has four sub-services: Dex-API, Dex-Crawler, Dex-Push and Dex-Task. Among all the services, Dex-Crawler is the most important, providing data sources for the other three. The entire system flow is shown in the figure.Dex-APIDex-API provides the query interface for outside system, based on the final aggregation of the data generated by Dex-Crawler and Dex-Task.Dex-CrawlerThe Crawler service is the cornerstone of the entire system. Data crawled from the chain is formatted and stored in database, for subsequent use by other services. vDex consists of two separate contracts — dexFund and dexTrade. dexFund is responsible for operations such as deposit, withdrawal, opening trading pairs, mining, dividends distribution, referrals, etc. dexTrade completes order placement, cancellation, and matching. Dex-Crawler crawls the two smart contract chains separately, processes data, and stores in multiple forms as needed.The Crawler service completes three major functions — fork resolution, order book aggregation, and statistical indicators. There is an essential difference from the centralized trading system — rollbacks and forks naturally reside in the blockchain. Therefore, one of the primary tasks of the Crawler service is to determine whether the contract chain is forked. If it is, according to the height of the fork, some persisted data must be deleted in order to maintain synchronized with the state on the chain. Dex-Crawler uses the “previous block” of the blockchain and the database to detect whether there is a fork in the contract chain. If yes, it rolls back all the data at the height in the database to ensure consistency and correctness.Order book aggregation is the second focus of the Crawler service. When an order is placed, canceled or matched, the order book will change accordingly. Typically, it is represented to users as the order book’s depth has changed. The reason why order book aggregation is complicated is because it needs to group the order’s quantity and amount at the given (0 to N) decimal place in price for each trading pair. In order to improve performance, we employ the methodology of “in-memory modeling” to implement the aggregator. In this way, all processing is performed in memory, and then the output data is sent to Kafka for consumption by Dex-Push.Statistical indicators are the third focus. Whenever a new matching is completed, the indicators of Kline, Trades and Tickers will change. Since additional data sorting for different periods is required, Kline is the most complicated to implement. At present, the time periods supported in ViteX are [minute, hour, day, minute30, hour6, hour12, week]. All the indicators will subsequently be sent to Kafka for Dex-Push service’s consumption.Dex-PushThe job of Dex-Push is to display the data produced in the Crawler service to users in time. Cluster deployment is adopted to ensure the service is highly reliable and stable. In addition, in order to reduce server’s load, the client should initiate a ping request to the server once per minute to declare that it is alive, and the server will only send data to living clients.Dex-TaskThis service is used for operational statistics calculation and aggregation. Statistics of trade mining, market make mining, referral mining, dividends distribution, exchange fees and others are processed offline by scheduled tasks.This article introduced DexServer and its four sub-services. Asynchronous communications are performed between the sub-services to reduce coupling and improve robustness and maintainability of the system. In next article, I will introduce more technical details about Dex-Crawler and Dex-Task. Stay tuned.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enTech Series #4: Design and Implementation of ViteX Back-End Service was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 27

Celebration of Vite Two-Yea...

Vite two-year anniversary is coming up on June 1, 2020. To celebrate the birth of Vite, we plan to hold a community campaign with the theme of “Vite Two Years” — post a picture or short video of your story with Vite in the past 2 years.Get creative! The possibilities are endless, we can’t wait to see what you guys come up with!DurationThis campaign will start from May 22 and end by May 31, 2020.RulesCreate a picture or short video with the theme of “Vite Two Years”Post your picture or video on Twitter with the following tags: @Vitelabs or @ViteXExchange, and you must use #Vite2YearsSubmit entry here: https://forms.gle/mfnMQChtdLEt3jaw5At the end of the campaign, the Vite Labs team will choose their favorite top 10 submissions. The result will be announced within 7 days after the campaign ends.All entries will be judged by the Vite Labs team. Vite team reserves the right to interpret all final results.Reward DistributionTotal reward allocation: 260,000 VCP + 1,000 VITE1st place: 50,000 VCP + 500 VITE2nd place: 40,000 VCP +300 VITE3rd place: 30,000 VCP + 200 VITE4th-10th places: 20,000 VCPMake sure you fill out the information collection form!Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enCelebration of Vite Two-Year Anniversary | Vite Community Campaign was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 22

Vite Labs Announces Plan to...

SummaryVite Labs is excited to announce our plan to integrate with Chainlink, the market leading decentralized oracle network. Chainlink’s vast array of oracle features and services will be critical for launching various products that require off-chain data. Our initial planned focus will be on augmenting the value of ViteX and VitePlus.ViteX is a decentralized exchange built on the Vite public chain, a DAG-enabled smart contract platform. As examples, introduction of index and derivative products on the exchange would require off-chain data feeds. The second avenue of interest is for VitePlus, Vite’s blockchain-as-a-solution for government and enterprises. VitePlus will require a variety of “real-world” data feeds that are not native to the blockchain. Chainlink can provide the aforementioned data feeds.The Purpose of Oracles, and Why ChainlinkAn oracle is a piece of middleware that allows off-chain data to be consumed by a dApp and for a dApp to send commands/data to an external system. Off-chain data includes valuable datasets such as market data, health records, weather reports, and so on.Quality oracles are characterized by reliable data feeds with sufficient decentralization in both the oracle mechanism and the data sourcing. Insufficiently decentralized oracles create single points of failure and are subject to data manipulation attacks, especially as the value of the smart contract they secure rises. Having a fully decentralized blockchain using a centralized oracle compromises the end-to-end security of the smart contract application.Chainlink is one of the oldest and best-known decentralized oracle networks. Chainlink is the only oracle network that’s been battle-tested in production by a large number of projects that rely on its oracles for off-chain data.About Vite Labs and ViteXVite is a feeless and fast public blockchain. It is the world’s first DAG-based smart contract platform, well suited for commercial dApps with performance rivaling their centralized counterparts. Vite’s capabilities are made possible by its unique asynchronous architecture, hierarchical consensus, and snapshot chain. Vite has a steady record of deploying practical applications on its platform, with products including a decentralized exchange, a public-financing dApp for the American City of Syracuse, multiple game dApps, and micropayment platforms.ViteX is a decentralized exchange built on the Vite public chain. It is an open exchange run by the community, with its income passed through to the community. VX is the platform token of ViteX. VX holders enjoy the right of receiving dividends of transaction fees and other revenue of ViteX exchange.About ChainlinkIf you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out here. The Chainlink team can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or follow its Twitter or Reddit.Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Labs Announces Plan to Use Chainlink for its Decentralized Oracles was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 21

ViteX Mining Guide

BackgroundViteX, developed by Vite Labs, is the world’s first DAG-based decentralized exchange. ViteX Coin, VX, is the coin native to the ViteX platform. It is mined exclusively by the ViteX community and is used to allocate rewards back to the community.VX holders can receive daily dividends from a shared dividend pool which aggregates all trading & listing fees accumulated by ViteX and redistributes back to VX holders.Overview: 5 Mining MethodsI. Trading as MiningTrade in BTC, ETH, VITE and USDT markets and receive VX rewards.II. Market-Making as MiningHelp improve order book depth by placing buy and sell orders and receive VX rewards.III. Staking as MiningStake VITE to help ViteX obtain higher level operational quota and receive VX rewards.IV. Referring as MiningGenerate a referral code to invite friends to join the ViteX platform and receive VX rewards.Inviter will be rewarded with 5% of all invitees’ trading as mining proceeds and 2.5% of their market making as mining proceeds.Invitees will enjoy 10% off platform trading fees, and receive an extra 2.5% of trading rewards and extra 1.25% of market-making rewards.V. Listing as Mining (Operators Only)Become a ViteX operator and list trading pairs to collect user transactions fees and receive VX rewards.Mining DetailsI. Trading as MiningMines approximately 60% of daily released VX. Currently, users are able to trade in four markets: BTC, ETH, VITE and USDT and receive VX rewards accordingly.Allocation: As mentioned above, ViteX is currently divided into four different markets: BTC, ETH, VITE and USDT. By trading in these markets, users are able to receive VX mining rewards. Each market will receive 15% of daily distributed VX.How to participate: By executing trades on eligible trading pairs and paying the corresponding trading fees, users mine VX (Trading as Mining).Mining reward calculation: VX rewards are calculated based on the proportion of a user’s daily accumulated trading fee to the total accumulated fees in each market. For example, for a given day, if a trader accumulates 5% of the total BTC market trading fees, then that trader will receive 5% of the 15% of VX rewards allocated to the BTC market.II. Market-Making as MiningMines 10% of daily released VX; BTC market at 5%, ETH and VITE market equally at 1.5%, USDT market at 2%.Placing orders on ViteX will also earn users VX rewards. The amount of VX earned depends on three factors: 1) the amount of order, 2) the amount of time your order remains on the order book, and 3) the amount of deviation from the best bid and best offer in the order book spread.Allocation: 10% of daily released VX; BTC market at 5%, ETH and VITE market equally at 1.5%, USDT market at 2%.How to participate:Only eligible trading pairs will be considered for market-making as mining rewardsBoth buy and sell orders are considered for market-making as mining rewardsOrders must not deviate from the designated mining range in the order bookMining reward calculation:The VX mining reward for market-making has a linear relationship with the order amount and order duration (i.e. amount of time the pending order stays on the order book). However, the mining reward has an exponential relationship with the order distance (i.e. the deviation from the best bid offer).For example, if Alice and Bob both place two separate orders for the same amount of token X. Both orders remain on the order book for the same amount of time. However, Alice prices her order on level 1 (i.e., extremely close to the best bid offer) and Bob prices his order on level 10 (i.e. further away from the best bid offer), the mining reward for Alice will be 100 times that of Bob’s. This system is designed to incentive users to place orders as close to the best bid offer as possible.III. Staking as MiningBy staking VITE to help ViteX obtain operational quota, users receive VX rewards.Allocation: 20% of daily released VXHow to participate: stake VITE with the beneficiary set to the ViteX smart contractStaking amount: the minimum amount of VITE that users can stake is 134 VITE. There is no maximum cap.Staking duration: Stakes can be retrieved after 3 days. There is no maximum number of days for staking VITE. There will be a retrieving period of 7 days, and stakes will not be counted towards staking as mining rewards during this period.Mining reward calculation : the amount of VX rewards will be calculated based on the proportion of VITE staked by a user’s account to the total amount of VITE staked that day.IV. Referring as MiningUser can request invitation codes to invite friends to join the ViteX platform.Inviter will be rewarded with 5% of all invitees’ trading as mining proceeds and 2.5% of their market making as mining proceeds.Invitees will enjoy 10% off platform trading fees, and receive an extra 2.5% of trading rewards and extra 1.25% of market-making rewards.How to participate: Spend 1,000 VITE to generate a referral code, of which 100% will be burnedNote: If you are a ViteX VIP (users who have staked 10,000 VITE to obtain a 50% reduction in trading fees) AND joined ViteX via a referral code, your 10% discount will be applied after the reduction.V. Listing as Mining (Operators Only)For each trading pair listed, the issuer’s VX reward is then calculated as if he/she executed a trade involving a transaction fee of 1,000 VITE.Operators can list trading pairs, customize transaction fees, and generate profits from users that choose to trade on their Zone.VX Distribution ScheduleThe total supply of VX will be 29,328,807.8 with no inflation. The total supply of VX will be fully distributed in two phases.Phase 1: Buffer phase that has ended on December 6, 2019. A fixed amount of 10,000 VX was released daily.Phase 2: Standard Phase. In this phase, all un-mined VX will be released according to below schedule:Sub-phase 1: Starting at 10,000 from December 7, 2019, daily release will increase for 90 days at a fixed rate until reaching 50,000 on March 6, 2020Sub-phase 2: Starting from March 7, 2020, annual release will decrease by half each year until fully distributed after 8 years.VX Mining AllocationAllocation of VX daily release by proportion:Trading, Referring and Listing: 60%BTC market: 15%ETH market: 15%VITE market: 15%USDT market: 15%Staking: 20%Market-making: 10%Vite team: 10%VX Holder DividendsAll fees collected by the ViteX platform will be collected into a shared dividend pool and distributed at a rate of 1% daily. For any given day, the total fees collected during that day will be fully distributed by the 100th day.To receive your dividends:• A minimum of 10 VX must be staked in the exchange account. Please note that VX held in a wallet or exchange account will not make you eligible for dividends;• Participant is entitled to receive dividends starting with the next distribution immediately after submission of staking request;• Staked VX will be released after the 7-day waiting period once retrieved. No dividend will be received during this waiting period.Users can enable automatic staking. Mined VX will be automatically staked once enabled, purchased VX is not subject to this function.Transaction FeesTransaction Fee FormulaFor all transactions on ViteX, incomplete orders do not incur any fees.Total Transaction Fee = Base Trading Fee + Operator Zone FeeUnlike other DEXes, ViteX does not charge fees for pending orders and withdrawals provided that users have the requisite amount of quota. Related documentation: What is quota.Base Trading Fee: 0.2%This trading fee will be applied to all trading pairs in the ViteX ecosystem. All the fees collected from this will be put into the shared dividend pool to be redistributed back to VX holders.Operator Zone Fee: 0–0.2%This is the fee that will be set by ViteX Operators for their respective Zones. Operators may set fees ranging from 0% to 0.2%. Proceeds from this fee belong to the Operators.Reducing Trading FeesStake 10,000 VITE to become a VIP and receive 50% off basic trading fees(Minimum Staking Duration: 30 days)Use a Referral Code and receive 10% off trading fees(Refer to Referring as Mining section for details)Note: For any VIP user using a referral code, another 10% will be taken off incurred trading fees after the 50% reduction.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enViteX Mining Guide was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 21

Vite Community Star Global ...

Being built from scratch, Vite has grown to have a full working ecosystem of products, and we could not have achieved what we have today without the support from our community members.Vite official website will soon have an upgrade to make a better public display of the project. With this opportunity, we would like to improve the community section to honor the great community we have. Vite welcomes applications for Community Stars from any individuals with remarkable contributions to the project and greatly appreciate all your effort on developing together the Vite community.CandidatesMust be a Vite community memberWith notable contribution to the development of Vite project, including but not limited to aspects such as technology development, publicity promotion, content creation, community building, event planning, etc.Selection ProcessesCollect candidatesTeam review and vote internallyAnnounce the resultsVite will issue an official “Community Star” certificate to selected individuals and list the stars on our webpage!How to ApplyFill in this form: https://forms.gle/6CDDNcCpVdxQ7C1F7Submit your answers by May 27Results will be announced by May 31Describe your contributions and how it has helped Vite and in what aspectsYou could either nominate yourself or advocate for someone who you think has helped Vite greatlyWe look forward to seeing our Community Stars!Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Community Star Global Election was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 20

Vite Bi-weekly Report

May 1–15, 2020Recent MilestonesStrategic partnershipsOn May 7, Vite Labs announced a strategic partnership with KardiaChain. Both parties will jointly explore payment solutions and develop infrastructure for blockchain interoperability. KardiaChain is in partnership with a top telecom company in Vietnam with 60 million users, and it aims to establish Vietnam’s first mobile payment gateway. Vite’s collaboration with KardiaChain will provide more opportunity to expand Vite’s crypto payment network in Vietnam and Southeast Asia.ViteX ExchangeOn April 30, ViteX released DEX API. Users can apply for API Keys on the ViteX website. The launch of the API will further expand the ViteX trading ecosystem, help attract quant traders, and improve liquidity for the exchange.On May 8, KardiaChain coin(KAI) was listed on ViteX via Vite Labs gateway. On May 9, KAI / ETH trading pair was opened, enabling market-making as mining.Users with more than 10 VX in the Vite app received an airdrop of 1,250,000 KAI. This is the first time we rewarded VX users with airdrops, and we received positive feedback. In the future, we plan to run similar campaigns, iterate on best practices for airdrop rules, and coordinate with projects to increase airdrop amounts. We hope these measures will continue to raise VX’s intrinsic value.Technology SeriesOn May 6, we published the technical article “The Design and Implementation of ViteX Contracts”, which briefly explained the smart contracts used within ViteX.Community AMAOn May 9th, KardiaChain ran an AMA in Vite telegram group and rewarded 150,000 KAI to the community.Vite Official WebsiteWe ran a community vote on the new design of vite.org. The result will be published soon. Thanks all for participating!Vite MainnetOn May 27, Vite network will have the fourth hard fork named MARS. The main purpose of this hard fork is to upgrade the built-in contract of ViteX. Details: https://forum.vite.net/topic/3848/important-vite-mainnet-4th-hard-forkData on ViteXAs of May 15, 16,740,658 VITE have been burned, accounting for 1.67% of total issuance.137,756,367 VITE are staked on ViteX exchange, accounting for 13.78% of total issuance.6,377,320 VX has been released, of which 5,957,905 VX is being staked for dividends.To-date, 49.5 BTC worth of dividends have been distributed. The pool of undistributed dividends stands at 30.3 BTC.System DevelopmentsVite WalletVite Wallet 3.6.0 (iOS and Android) has been formally released. This version re-writes the built-in ViteX exchange in native code so as to significantly optimize the trading experience. In addition, Vite Connect, which is relied upon when generating ViteX API Key, was also upgraded. Users can self-generate API Key on the ViteX website by scanning the QR code in Vite Wallet.After the 3.6.0 version was released, we received many valuable feedback from the community. The feedback has been well collected, and will be prioritized and incorporated in subsequent versions.On May 11, we released Vite Wallet 3.6.1 (iOS), solving the problem that some ERC20 token transfers may fail due to gas limit, as well as under certain circumstances the built-in ViteX page may be stuck.On May 14, we submitted Vite Wallet 3.6.1 (Android) to Google Play for review. This version fixes the occasional app stuck problem when switching addresses, and the problem that exchange-related message may wrongly appear on non-exchange pages.We also started the development of V3.7.0. In this version, we will continue to add new features to the exchange, and reduce the size of app package for faster download.Starting from V3.6.0, we changed the app name from Vite Wallet to Vite, meaning that the positioning of Vite wallet has changed from a single-purpose wallet to a full-stack wallet + exchange decentralized crypto asset management tool.ViteX ExchangeViteX API has been formally released. In the past two weeks, we have made additional optimizations, such as checking the minimum order amount and available balance to avoid invalid transactions, and standardizing error code and message returns.We are in the process of integrating ViteX API with CCXT. CCXT (https://github.com/ccxt/ccxt) is an open-source cryptocurrency exchange API adapter library that currently supports 120 exchanges. Through CCXT, users can ignore the differences in API interfaces of different exchanges and simplify the development of trading bots. At present, there are many quantitative trading programs that use CCXT library to access different exchanges. After our integration, these existing programs will be directly accessible on ViteX.In addition, the upgrade of ViteX built-in contract is finished. A new hard fork has been scheduled on May 27, which includes optimizing order cancellation logic, unifying the logic of order flows by raw signatures and delegated orders, and merging order placements and cancellations from the same address into one queue to ensure deterministic matching result.Website UpgradeWe have completed the product design and visual design of the new vite.org. The new version of Vite official website focuses on key information for facilitating new visitors to understand the full picture of Vite.In the visual design, we have selected 6 different design schemes. It’s completely up to our users to choose the final plan through community voting.ActivitiesVite COO Richard released a new episode on The Blockchain Debate Podcast. The guests included Uri Klarman, the CEO of Bloxroute, a Chicago-based layer-0 blockchain company; and Mrinal Manohar, the CEO of CasperLabs, a New York-based public blockchain firm. The debate topic was a technical discussion around public chain scalability. The focus of the discussion was how to achieve scalability via accelerating block transmission at the network’s transport layer.Past interviews are available here: https://blockdebate.buzzsprout.comFollow Richard on Twitter: Twitter.com/gentso09Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVite Bi-weekly Report was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 19

Vote for Vite Official Webs...

Our team been prioritizing the development of blockchain technology since Vite was established. In the past two years, we have built together with our community, from scratch, an ecosystem of products that work well together. Since Mainnet has launched, Vite is moving steadily towards the next milestone.To make a better display of what we have achieved so far, Vite official website is ready for a new design!Let us know your opinion by voting for your favorite design among the following options:Design 1Designer NotesThis design uses classic Vite blue as theme color. White and light blue gently separate out different sections, making it easier for visitors to locate important contents.Design 2Designer NotesDesign 2 uses the color of 2020, classic blue, as theme color. Alternation of dark and light adds additional contrast to the webpage.Design 3Designer NotesThis designs has a more conventional approach through the use of black, grey, and white. Black and white create the strongest contrast so that Vite can better stand out.Design 4Designer NotesA Dark theme, complemented by Vite blue. Breaks sections by adjusting the intensity of the dark colours, while visually adding more depth to the webpage.Design 5Designer NotesAnother design using the 2020 classic blue color. Contrast between two types of blue.Design 6Designer NotesSimilar to Design 5 but more subtle. Using a softer blue instead of Vite blue.Click here to cast your vote.Please vote by May 17, 2020. We will announce the result 3 days after voting is closed and design the website accordingly. We are excited to see your opinions or new ideas!Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enVote for Vite Official Website 3.0! What’s your pick? was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 13

Tech Series #3: The Design ...

ViteX is a built-in decentralized exchange on Vite. As an important component of the Vite ecosystem. ViteX consists of Vite’s built-in contract vDex and the off-chain service dexServer.vDex is designed to perform all of the exchange’s core functions on-chain, such as deposits, withdraws, listing trading pairs, and order matching. However, subsequent on-chain functions like mining of VX coins, fee dividends and operator management have been included as well. Needless to say, all these functions are implemented with high security and full transparency of rules in mind.The following is an introduction to several key points in the design and implementation of vDex.Storage DesignParticular to vDex’s implementation (as compared to that of other centralized exchanges) is the storage structure enhancements and performance of the chain itself. To maximize match efficiency, vDex has adopted multiple optimization strategies for read/write efficiency.Order IDThe method by which orders are stored determines the read/write efficiency, and ultimately determines the order-matching efficiency.At the lowest level, the Vite chain employs a LevelDB-like storage. It supports sequential traversal ordered by byte, which is consistent with vDex’s Taker-Maker matching rules. These rules do matching according to the price order of trading orders. vDex uses an order id format that complies with levelDB’s ordering mechanism, ensuring that Taker matching takes only one iteration to complete.The order structure is presented below:The order id is a 22-byte field composed of subfields as follows:marketId: a unique identifier for each trading pair. This is auto-incremented.side: 0 or 1 for Buy/Sell respectively. It is a 1-byte suffix to marketId. A Taker order will scan all pending Maker orders with the same prefix (marketId + side) during a matching process.price: a 10-byte long fixed-point number. The first 5 bytes correspond to the integer part, and the last 5 bytes to the fractional part. This can support a maximum length of 12-digit integer and 12 decimals. For a sell order, prices are stored normally from low to high, whereas in a buy order, the value is flipped to represent a reversed price order from high to low.timestamp: orders with the same price are sorted by timestamp.serialNo: for orders with the same price and timestamp, orders are sorted according to the sequence by which the orders were confirmed on the chain, ensuring a strict order.This 22-byte long order id serves as a key for levelDB traversal, thus providing efficient order traversal by price.Matching ProcessThe matching engine generates a new prefix from the combination of Taker’s marketId+!side. It uses this prefix to traverse through levelDB in ascending order, thus generating a list of all ranked orders in the market placed by Makers. A Taker’s order is matched when the following conditions are met: !taker.side && bytes.cmp(taker.price, maker.price) >= 0 || taker.side && bytes.cmp(taker.price, maker.price) <= 0. Any unmatched remainder is further processed until either the match fails or the transaction is completed. When a match fails, the taker’s order ID is sent to storage. The entire matching process adopts a simple and efficient way of reading/writing storage.Order Object CompressionTo improve storage efficiency, protocol-buffers are used to serialize the order object. If sufficient compression can be guaranteed, new fields may be added to the order structure to enhance backward compatibility.Storage can further be optimized by nulling the order ID’s four fields (marketId, side, price, and timestamp) prior to deserialization. During deserialization, only relevant fields are assigned.Storage Clean-upTo further reduce the occupation of on-chain storage, space is cleaned for completed matches and cancelled orders. Orders have a set timeout mechanism. Expired orders can be cancelled in batch without verification. To ensure all orders are accessible, cleared orders are persisted in dexServer service off the chain.Mining/Dividend Metrics Storage OptimizationvDex supports on-chain trade mining, stake mining, and handling of fee dividends. At the end of a day-by-day period, mining/dividend results are produced based on relevant metrics for the period.To avoid unnecessary impacts on normal transactions, mining and increase of period are made asynchronous. This requires that the state at the end of each period can be traced back via, in vDex’s implementation, snapshots. To minimize the number of snapshots, state of a new period is recorded only when there is a difference with that of a previous valid period, which minimizes storage duplication.Multi-Contractual CollaborationThe current version of vDex consists of two built-in contracts. dexFund undertakes operations such as deposits, withdraws, listing trading pairs, mining, dividends, etc. dexTrade completes the actual order placement, be it a match or a cancel.The design of two separate contracts facilitates system splitting and maintenance from an engineering perspective, and facilitates subsequent dexTrade sharding for higher throughput.Asset Correctness CheckCorrectness at code level is ensured through both unit testing and integration testing.vDex also verifies asset consistency in real time by comparing all the assets in built-in contract and the actual balance of the contract on the chain. If they are consistent, errors due to internal calculation and logic errors resulting in excessive asset issuance or loss can be ruled out.Asset check is equivalent to performing a full integration test on all the code of vDex’s contracts. This operation can be performed periodically during test phase or after formal deployment to verify the correctness of the contracts.vDex and dexServer CollaborationDuring the execution of the contracts, internal states are modified. Internal state changes are recorded in a eventLog and handled by off-chain service dexServer, allowing for downstream services such as monitoring and data statistics services.Official: https://www.vite.org/ViteX Official: https://vitex.net/Twitter: https://twitter.com/vitelabsVite Forum: https://forum.vite.netTelegram:English: https://t.me/vite_enChinese: https://t.me/vite_zhRussian: https://t.me/vite_russianJapanese: https://t.me/vite_japaneseVietnamese: https://t.me/vite_vietnameseArabic: https://t.me/vite_arabicGerman: https://t.me/vite_germanTurkish: https://t.me/vite_turkishIndonesian: https://t.me/vite_indonesianSpanish: https://t.me/vite_spanishPortuguese: https://t.me/vite_portugueseFilipino: https://t.me/vite_filipinoFrench: https://t.me/vite_frenchDiscord: https://discordapp.com/invite/CsVY76qFacebook: https://www.facebook.com/vitelabs/Instagram: https://www.instagram.com/vite.labs/?hl=enTech Series #3: The Design and Implementation of ViteX Contracts was originally published in Vite Labs on Medium, where people are continuing the conversation by highlighting and responding to this story.

Vite

20. 05. 11

Transaction History
Transaction History Address
Binance Short cut
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OKEx Short cut
Security verification

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