In Brief:
- Velas was created to address issues in the Solana blockchain platform.
- It announced a processing capacity of 75,000 transactions per second.
- Velas is remarkable for its EVM compatibility.
Velas is the hard fork of Solana, a high-performance blockchain that was created to handle certain problems in the platform. Velas’ team are calling themselves Solana V2.
Velas’ team has announced the addition of new features and services on its platform.
Scalability is one of the most important aspects of a blockchain, and it has been thoroughly addressed by Velas. The ecosystem has announced a processing capacity of 75,000 transactions per second and some of the industry’s cheapest rates.
Velas is going to be EVM-compatible and allows projects from other blockchains, including Ethereum, to be transferred. This significantly improves its capabilities for developing DeFi projects, NFTs, and D’apps. Velas plans to bring many new projects into life.
WagyuSwap, a decentralized exchange, is another major project being pushed forward by Velas. WagyuSwap will not only be one of the fastest and cheapest DEXs in the industry when it launches, but it will also allow projects launched in Velas to sell their native tokens.
Velas has announced the launch of BitOrbit, a platform designed for creators to monetize their online content. Through BitOrbit, followers of creators can pay for exclusive content, and creators can profit financially from their work.
In September, Solana Blockchain went down, causing some services to be disrupted.
Solana Network’s performance deteriorated, causing some nodes to go offline for more than 16 hours.
