Vite platform to merge DAG and smart contracts
Vite classifies itself as a “general-purpose platform for decentralized applications” that seeks to facilitate the utilization of “industrial strength applications.” Cointime spoke to Vite COO, Richard Yan at the Genesis CAT Global Meetup to find out more about Vite and what it aims to do for the market.
The project’s main goal is to create a public blockchain that will deploy truly practical and useful apps on its main structure. Vite aims to address common issues that arise within the blockchain technological world while also not compromising security. The company is approaching these issues by using Directed Acyclic Graph (DAG) technology, a new way of organizing the ledger, to lower latency, higher throughput, and better scalability.
Vite aims to have this DAG technology work in conjunction with smart contracts by researching what the Nano project has previously done with the technology and building up this mechanism. They are also trying to make the entire process much easier and user friendly for developers to build on top of their chain. Yan made it clear that they are doing this by utilizing the programming language compatible with Ethereum called Solidity++, a asynchronous version of Ethereum’s initial programming language. Vite also has plans to release a dApplet engine similar to WeChat’s that will enable users to create mini apps within the structure without prior coding knowledge.
The project has concluded its private sales earlier this month, earning 60,000 ETH (roughly $28 million at press time) for 40% of its tokens. Their next step is to commence its marketing ventures by creating an airdrop campaign to find loyal enthusiasts.
While Vite’s central office is located in Beijing, China, they have began their expansion to the Silicon Valley by opening a new branch. The project is looking to fill open positions in community management, content marketing and business development.
Author： Sarah Reyes
Executive editor： Sarah