VITE

Halal Rating :
Comfortable
Last Price $0.01 Last updated:
Rank 1036
1D Change 3.78 %
Market Cap $15.58m
Circulating supply 1,108,291,256
Maximum supply None
Crypto Overview Crypto Impact

Crypto Overview

Categories
  • DAG
  • Multiple algorithms
  • Platform
  • Enterprise Solutions
  • Decentralized Exchange (DEX) Token
  • Scaling
  • BNB Chain

Understanding the Intended Utility

VITE is a high-performance blockchain platform designed to support decentralized applications (dApps) and smart contracts. Its core innovation is a directed acyclic graph (DAG) ledger structure combined with an asynchronous architecture that enables fee-less transactions and high throughput.

The VITE token serves multiple purposes within the ecosystem: it's used for governance voting, staking to secure the network through Snapshot Block Producer (SBP) nodes, and obtaining quotas for transaction processing.

Actual Utility Assessment

The platform has demonstrated real-world adoption through its ViteX decentralized exchange, which operates without charging transaction fees. The project maintains active development, with regular GitHub commits and ecosystem updates. The platform supports cross-chain transfers and hosts several dApps.

Token Distribution and Founder Analysis

The initial token distribution allocated 39.5% to ecosystem development, 30% to the team and advisors (with vesting periods), 20% for private sale, and 10.5% for marketing and operations. The team's vesting schedule extends over multiple years, indicating a long-term commitment to the project.

Technology and Revenue Model

VITE's consensus mechanism is based on Delegated Proof of Stake, where token holders can stake their tokens to participate in network security. The platform generates value through ecosystem growth rather than lending or interest-bearing mechanisms.

The platform's technical architecture focuses on scalability and efficiency, with features like smart contract quotas and snapshot chain technology that align with permissible technological innovation.

Crypto Impact

To assign a comfort level investing in VITE from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to VITE.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

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