Vite Network

Summary: Vite unique "snapshot" mechanism counteracts the main problems facing other DAG networks - spam from malicious actors. 
Vite uses a Directed Acyclic Graph (DAG) ledger structure, and is a low-latency and highly scalable network. It is also the first public chain to implement smart contracts on the basis of a DAG ledger. Transactions on the Vite network are fast and feeless. The broader aim of the Vite network is to bridge different blockchains in a decentralized way. 
One distinctive feature of the Vite network is its “snapshot” mechanism. This mechanism’s main function is to maintain consensus on Vite’s ledger. Snapshot blocks are created by “nodes”, which are called Snapshot Block Producers (SBPs). Vite holders can “vote” for SBPs, and the top 100 SBPs with the most votes will be allowed to produce blocks. As a reward for creating blocks, SBPs are rewarded (in terms of Vite) based on the number of blocks that they produce. 
Typically, SBPs distribute a significant portion of their daily SBP rewards to their votes, as a way of rewarding them. VINU has partnered with the ViNO SBP, and Vite holders who are interested in supporting the VINU project may vote for the ViNo SBP. This will allow them to receive daily Vite rewards from the ViNo SBP, and additional VINU tokens from the VINU team. Receiving additional VINU tokens means that these Vite holders will end up receiving more rewards, compared to simply voting for an SBP that does not distribute additional tokens.

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Last modified 27d ago

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