Blockchain as an industry has seen immense growth and progress over the last few years, with myriads of innovative projects taking shape. All these projects, however, have only been successful and effective thanks to the blockchain networks they are built on. The strength of a blockchain network has a direct impact on the quality of the projects that emerge from it and thus, most blockchain networks work to improve themselves and their projects by extension.
One of the most aggressive these days has been the Velas blockchain which has announced a plethora of new projects. This comes after months of achievements from the blockchain.
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Velas in the News
It is interesting to note that Velas is actually a fork of the Solana code, only with major improvements. The latest round of innovations added has given rise to what is called ‘Solana V2’, which has a processing capacity of an astonishing 75,000 transactions per second. Solana V2 also supports project porting and cross-chain interoperability, which has been vital in attracting developers.
Another effort made by the team to attract developers was a grant offered by the team, initially standing at $5 million but now rising to $100 million, thanks to the overwhelming response from the community.
Since then, the Velas team has been putting forward a portfolio of amazing projects such as VelasPad, a native launchpad for Velas projects that provides everything from financial aid to legal support. Then there is WagyuSwap, which is primed to be the world’s fastest and cheapest DEX project once it launches, with anticipation building for it for months and its native token going from $0.005 to $0.282 since its launch.
The latest project being put forward by Velas is on track to change the way we interact with content over the internet. This new project is called BitOrbit, and allows content creators to monetize their work by letting followers of the creation pay for exclusive designs. All this is done while still maintaining the privacy of user data and also cutting out the various middlemen involved in the current process of monetizing content.
According to Velas management, this is the first project from the blockchain to reach its full potential and will be a testament to what it can do. An IDO will be launched for the native token of the project on the VelasPad and will also benefit from WagyuSwap once it is launched.
Velas to the Future
While many might be more familiar with the Solana blockchain that Velas was forked from, the latter has improved on many of the issues of the former and given that it is still in the launch stage, now represents the perfect time to get in.
However, the current wave of projects coming out of the blockchain industry, many of which place an emphasis on democratizing industries and moving across existing ecosystems, means that the future of the industry will be one that is more innovative and accessible than ever before.
Image Sourced from Monccur PR