Vite

Platform

Vite is a public blockchain dApp platform based on DAG ledger and asynchronous architecture with a focus on scalability and high throughput.

Vite ICO Review


Main features of Vite include the following:

Asynchronous architecture – on Vite platform everything is done asynchronously (tasks are run in parallel, second task can run before the first one finishes) unlike on Ethereum for example where writing and confirmations of a transaction isn’t done asynchronously and the speed of writing is limited.

Vite has asynchronous models of:

  • Requests and responses
  • Writing and confirming transactions
  • Communication between smart contracts
  • Detailed explanations of above models are written by Vite team here

DAG ledger – a block-lattice structure which allows processing of many parallel transactions since each account has its own chain.

Snapshot Chain technology – makes Vite platform secure and fast since it has block time of one second. Solves security issues with using DAG based ledger.

HDPoS consensus algorithm – algorithm with low latency and high scalability, thanks to asynchronous writing and confirmation of those transactions

Solidity++ – Vite asynchronous smart contract language which is based on Ethereum’s Solidity. You can think about it like C vs C++ programming languages. Differences are similar.

Vite has a clear focus on tech, they have highly technical whitepaper and a long roadmap ahead of them. Funding was completed in private sale and exchange listings aren’t a priority.

Partnerships

Loopring is their main partner for now. Loopring founder Daniel Wang joined Vite team as an advisor and Loopring’s DEX will be integrated in a wallet built on Vite dApp platform. Two other partnerships are in the works but more information about those cannot be disclosed at this point.

Competitors

Vite main competitors are Nano and Fantom. Nano is pure DAG platform which doesn’t have smart contracts and is focused on being currency used for micro transactions.

Fantom is a direct competitor since it is also a DAG platform with smart contracts like Vite. The main difference is in smart contract language, Fantom uses Scala language which isn’t compatible with Ethereum while Vite uses Solidity++ which is mostly compatible with Ethereum and here Vite wins a point. However, advantage of Scala is adoption, it is more widely used and has a large community of developers which can’t be said for Solidity. It is ranked 14th on the list of most popular programming languages worldwide. Another advantage Fantom has is sooner release of mainnet, it is scheduled for Q3 2018 while Vite mainnet is scheduled for January, 2020.

Ethereum and other traditional public blockchain platforms can also be seen as competitors since all of them plan to implement their own features to solve scalability and speed issues. Time will tell which one will be the most successful in this very tricky and important task.


Competitors median market cap: 2,500,000,000
Hype
41917   4046   238   137
Hype tools used:
Nothing

Pre-airdrop hype is currently going on since airdrop details are going to be announced soon.

Token price in crypto
0,0018746 ETH
Hard cap
60,000 ETH (~5,462,902 $)
ICO supply
400,000,000
Total supply
1,000,000,000
Token % for public
40%
Bonus

0% bonus in the private sale.
Tokens will be locked for 5 months.

Token distribution

40% Private Sale
25% Ecology Fund
20% Team (2 year lock)
10% Marketing/Promotion
5% Community Airdrop

Allocation of funds

65% R&D
20% Marketing
10% Other costs
5% Infrastructure

Team

Chunming Liu | Founder | Graduated from the University of Chinese Academy of Sciences and the University of Science and Technology of China. Previously senior architect at Yunrang Information Technology Ltd. and at JD Group. Co Founder of Coinport, a cryptocurrency service company.

Richard Yan | COO | Graduated BA from Dartmouth College (Computer Science and Economics) and MBA from NYU Stern School of Business. Previously VP of Two Sigma and Finance Lead at Scratch.

Mingu Wu | Core Team | Graduated from the University of Science and Technology of China, PhD in Computer Architecture from the Institute of Computing Technology. He is a Senior Researcher Manager in Microsoft Research Asia.

Core team is strong and experienced in blockchain and technology. The rest of the team isn’t mentioned on their website and no further info was given. We were told on their Telegram 16 new developers were hired.


Advisors

Daniel Wang | Graduated from the University of Science and Technology of China and MBA from the University of Minnesota. Co Founder and CEO of Coinport and Creator, Founder and CEO of Loopring Foundation.

Frank Deng | Graduated from Tsinghua University. Previously Account Manager at Google. Currently CEO of Yunke Network Technology Limited.

Terence Lam | Graduated from Harvard Business School. Advisor at Loopring, Co Founder and CEO of Up Blockchain and Co Founder and CEO of Loopnest Accelerator. Partner of Zhizhi Blockchain Investment Fund.

Li Zhang | Former CMO of F2pool and former business officer of Huobi. Unfortunately, no Linkedin profile was found so there is no additional information on this advisor.

Vite has started their project in Q1 2018 and by the beginning of Q2 they have finished system design of Vite and completed the white paper. In May they have released the official website. Research and development will start in June. In October they have in plan to release Vite Core alpha. Vite Core beta M1 should be released in December and it will include options like trading, issuance of assets, hierarchical consensus algorithm and snapshot chain. Also in December they plan to release Vite SDK and their blockchain browser. In Q1 2019 they plan to release a desktop client and the alpha version of Vite mobile app. In Q2 Vite plans to release Vite Core beta M2, which would consist of smart contracts, Solidity++ compiler and smart contract API documentation. This will be followed by Vite Core beta M3, which will also have some new features. Q2 2019 should be concluded with the release of Vite dApplet support as a part of their mobile app.

Project phase

At the moment, the project has no prototype. They have a long roadmap ahead and as the most important milestones we can single out Testnet in November of 2019 and release of their mainnet “Vite 1.0” in January 2020.

Private sale start
Over
Presale start
Over
Crowdsale start
Cancelled
Bonus unlock
No bonus

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Vite is a public blockchain dApp platform based on DAG ledger and asynchronous architecture with a focus on scalability and high throughput.

Expected ROI
Reveal
ICO starts in
ICO has ended


Token Metrics
Hard cap
60,000 ETH
(~5,462,902 $)
ICO supply
400,000,000
Total supply
1,000,000,000
Token
VITE