Velas Set to Launch BitOrbit As Part of Velas 3.0

12/17/2020 4:08:16 PMby Bitcoinist
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Velas, a high-throughput blockchain that uses artificial intuition to automatically optimize its operating parameters, has just announced the launch of Velas 3.0 — a new ecosystem comprised of a suite of new products, centered around Velas’ long-awaited BitOrbit social media platform.

According to today’s announcement, the massive new Velas 3.0 ecosystem will be formed of around a dozen interconnected parts, each of which has the goal of making Velas more accessible, more inclusive, and overall more powerful.

Velas 3.0 is the culmination of over a year’s worth of development efforts by the Velas team and represents the next step in the evolution of the Velas platform.

At the center of this ecosystem is BitOrbit, a new social content platform that features a built-in Velas (VLX) wallet, MicroApps, file-sharing capabilities, chat functionality, and more — becoming the hub for Velas users, developers, and merchants.

Through BitOrbit, users will be able to access and manage their VLX tokens and synthetic assets such as vBTC (synthetic Bitcoin), vETH (synthetic ETH), and more within a single platform, and will have access to a growing MicroApp ecosystem available directly within the BitOrbit chat client. This will make finding and interacting with decentralized finance (DeFi) dApps, and making both personal and business payments as simple as shopping through the Facebook marketplace.

BitOrbit builds on the private chat model introduced by Telegram, and enhances it with additional features, making it a complete social network. These include built-in video feed and private group functionality, in addition to the aforementioned MicroApp and wallet features.

On top of this, Velas will be introducing an IPFS-powered content distribution platform, which will use community governance to quickly eliminate rule-violating content (such as copyright material), while giving users a way to monetize their computer resources by hosting and sharing files.

It is a major leap towards making cryptocurrencies easier to use and better equipped to tackle the challenges that come with massive scaling since it leverages Velas’ unique artificial intelligence-enhanced delegated proof-of-stake (AIDPoS) network to achieve throughputs in excess of 50,000 transactions per second (tps).

The recent Velas 3.0 announcement is the latest in a series of updates for Velas.

Just weeks ago, Velas also formed a partnership with cryptocurrency-powered online travel booking platform Travala. As part of the arrangement, Travala users are now able to use VLX tokens to book flights with over 600 popular airlines and hotels in over 230 countries, while benefiting from Travala’s best price guarantee.

Moreover, the Velas token was recently listed on the exchange, though Bittrex and Probit still remain the most liquid exchanges for VLX as of December 2020.

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