Velas (VLX)
| Market Cap | $55,032,867 |
|---|---|
| Trading Volume | $1,105,759 |
| Volume / Market Cap | 0.0201 |
| Total Supply | 2,400,724,252 VLX |
| Max Supply | – |
Velas is currently trading at $0.0229, after a price change of 1.79% in the last 24 hours.
Ranked as cryptocurrency #328 by capitalization today, VLX market cap is valued at $55,032,867. VLX trading volume reached $1,105,759 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on VLX coin price prediction page.
What is Velas?
Velas is a blockchain project that seeks to create a community-owned decentralized network for products and services. The platform is secured through the Delegated Proof-of-Stake consensus model. DPoS enables delegators to choose eligible validators by staking tokens to them and boosting their chances of becoming validators. The blockchain is developed on the Solana network and supports all the smart contracts on Ethereum. The protocol features Velas accounts, which are addressed with biometric authentication instead of passwords. Velas is a hybrid EVM/eBPF blockchain integrating functions from Solana and Ethereum.
VLX is the native token powering Velas protocol. There are 2.28 billion circulating VLX tokens from an uncapped supply of 2,276,562,163. The coin’s initial supply was 2,229,737,314, where the project set yearly inflation at 8%. The token is used in paying transaction fees. It can also be staked by delegators and validators and acts as an incentive for block generators.
VLX staking enables block producers to offer transaction consensus and get staking rewards for genuine block produced. A user needs to hold more than a million VLX tokens to act as a validator and at least one VLX to be a delegator.
Velas was founded by Alex Alexandrov in 2019.