The Next Generation High-performance Decentralized Application Platform
Lelvin
Vite is A Next Generation High-performance Decentralized Application Platform[1]. Vite is based on Directed Acrylic Graph (DAG). "DAG will be used for applications that require versatility in the a large number of transactions per second. The dispatch of CryptoKitties clogged the Ethereum network which resulted in moderate transactions and high fees. Ethereum has an answer for this called sharding, however it is 5 years out. Applications will soon, I believe, be swinging to DAG to scale."[2]
What is a DAG?
Let's initially define Blockchain. Blockchain is a decentralized public ledger. DAG is additionally a decentralized distributed ledger. DAG does the same thing what blockchain does. Purpose of DAG is same as blockchain i.e. to keep up a decentralized record of online transactions yet DAGs achieves the same objective by means of different technology. Both DAG and Blockchain are different technologies endeavoring to achieve the same objective. There is absolutely no relation between these two technologies excepting the objective they are endeavoring to achieve i.e scalable decentralized ledger.
What is offbeat DAG?
All DAGs are offbeat.
For what reason is offbeat DAG imperative for blockchain technology?
Offbeat DAG technology is imperative and superior to blockchain technology because it can achieve more than 100k transactions per second which is significantly more than what blockchain does as of now.
Difference between synchronous and offbeat?
When you execute something synchronously, you trust that it will complete before proceeding onward to another assignment.
When you execute something nonconcurrently, you can move on to another undertaking before it finishes.
What does it mean for Blockchain?
In blockchain, new transactions are processed simply after previous transactions get confirmed. For eg. All transactions in a Bitcoin are first placed in a Mempool and afterward miners pick transactions from that point and verify them. Miners pick new transactions simply after previous transactions gets verified. This is the thing that synchronous means, miners are moving to next undertaking after completing the previous assignment (errand here means processing an exchange) however in DAG technology which is offbeat, all transactions are processed simultaneously even before the previous transactions get confirmed or not. This is the thing that nonconcurrent means validators are proceeding onward to another undertaking even before completing the previous assignment (errand here means processing an exchange).
What does it mean for Blockchain?
In blockchain, new transactions are processed simply after previous transactions get confirmed. For eg. All transactions in a Bitcoin are first placed in a Mempool and after that miners pick transactions from that point and verify them. Miners pick new transactions simply after previous transactions gets verified. This is the thing that synchronous means, miners are moving to next errand after completing the previous assignment (undertaking here means processing an exchange) yet in DAG technology which is nonconcurrent, all transactions are processed simultaneously even before the previous transactions get confirmed or not. This is the thing that offbeat means validators are proceeding onward to another undertaking even before completing the previous errand (assignment here means processing an exchange).
What is so special about VITE?
Vite is utilizing Block Lattice DAG same as Nano yet there are some security flaws in Block Lattice DAG. They'll be making a depiction bind to remedy the security issues with Nano DAG. Also, you can make savvy contracts on VITE with Solidity++ language (which is compatible to Solidity). There isn't much difference in Solidity and Solidity++ that is the reason Ethereum applications are compatible with VITE. Vite's competitior is Fantom (DAG + Smart contract platform). Be that as it may, Fantom is utilizing Scala language for keen contracts so Ethereum Dapps are not compatible with Fantom.
For more information, let's visit us in the link bellow :
Website : http://viteapp.co/
Whitpaper : http://viteapp.co/assets/docs/Vite_Whitepaper_Draft.pdf
Medium : https://medium.com/@Vitecoin/introducing-vite-ridesharing-designed-for-the-blockchain-generation-b09434324988
Instagram : https://www.instagram.com/vite.app/
Youtube : https://www.youtube.com/channel/UC0-P3Sgj17PFOyMdXIjP9XQ
Twitter : https://twitter.com/vite_app
Facebook : https://web.facebook.com/viteapp.co/
Authored by Lelvin: Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1275173
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