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What is VITE coin and how does it work?

by Financial Economy

VITE Coin is a cryptocurrency used for the execution of simple token transactions and smart contract applications. Vite users can also perform staking with tokens. Detailed information about what is VITE coin and how does it work, how to buy, how much is VITE coin price, etc. is in the continuation of the article. You can browse here for information about Bytecoin (BCN).

What is VITE coin and how does it work?

Vite is described as a Directed Acyclic Graph (DAG)-based smart contract platform with a Snapshot Chain structure to facilitate zero-fee transactions and optimize transaction speed, reliability and security. Vite Snapshot Chain uses Hierarchical Delegated Proof of Stake (HDPoS) to reach network consensus, while super nodes only receive staking rewards and no transaction fees. The Vite virtual machine maintains compatibility with EVM and uses the asynchronous smart contract language Solidity++.

VITE (VITE) is a minable cryptocurrency and is launched as the native token of the Vite platform. VITE token is the currency for users to execute simple token transactions and smart contract on the Vite network by paying VITE for the transaction quota instead of consuming gas. VITE can also be used to vote for Snapshot Block Producers. Additionally, a VITE staker with unused transaction quota can lease such quota to dApps in exchange for their tokens.

How to buy Vite coins? What is the price of VITE coin?

As of August 12, 2021, the price of 1 VITE is around $0.086. Vite coin can be purchased from the crypto currency exchanges where it is listed, but it should be ensured that the exchange to be traded is “trusted”. The circulating supply of Vite coin is 486,670,688 units. Its total supply is 1,019,241,798 units.

Note: The information contained in this content is for informational purposes only. It is not investment advice.

For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency

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