Velas (VLX), a high-performance blockchain platform, shared the details of an upcoming major ecosystem revamp. It will affect all elements of the Velas (VLX) family of products and introduce a number of brand new instruments.
Introducing BitOrbit, a decentralized social media platform
In accordance with the press release shared with U.Today, Velas (VLX) is going to release the third iteration of its ecosystem, Velas 3.0. BitOrbit, a decentralized social media platform, is promoted as its backbone element. BitOrbit will be built around a patented passwordless solution.
This architecture will allow its users to interact with dApps and DeFis directly. All in-app data will be stored in IPFS, thus eliminating the need to rely on a centralized server. The new instrument will include a messenger, a crypto wallet and a built-in video feed.
Further, Velas 3.0 release includes Velas Wallet, a decentralized crypto storage and exchange solution for VLX and Velas-based synthetics (vBTC, vETH, vZEC and so on). All synthetics will have bridges to their original blockchains (Bitcoin, Ethereum, etc.).
Velas Microapps will be avaliable through a messenger—just like Telegram's bots that are accessible via chats.
New consensus and payment solutions
Velas 3.0 will run on an AIDPOS, a novel consensus solution. AIDPOS will utilize machine learning algorithms to adjust the blockchain operations to changing circumstaces and inputs.
The new payment solution suite will include one-click payments (which will look similar to PayPal and Venmo transactions) and instant payments. The latest operations will be authorized without necessary account registration on Velas.
Finally, Velas will reconsider its accessibility model. The Velas Vault mechanism will help its users to manage the security of funds and keypairs using Google and Apple solutions. Also, access to IPFS storage will be secured by a multi-layer system suitable for both corporate and private usage.