The Swiss blockchain Velas collaborated with Solana to support the Ethereum Virtual Machine (EVM) for seamless scalability.
Blockchain is currently in its heyday with boisterous and fast development.
The World Economic Forum (WEF) even assesses the new technology as an important tool to promote the Sustainable Development Goals (SDGs).
Related to that company Velas, as the Swiss-based provider of the Velas blockchain, is now making a major breakthrough to enhance the blockchain market by integrating developing the Solana codebase.
The trick is to support the Ethereum Virtual Machine (EVM) for unlimited scalability.
Increased EVM capabilities thanks to the collaboration between Velas and Solana to achieve fast blockchain technology in the industry.
Velas is now installing an EVM that allows Ethereum decentralized applications (dApps) to run on the Velas blockchain.
“The upgrade allows Velas to have extremely fast and unlimited scalability with up to more than 50,000 transactions per second with the open source network,” said Alex Alexandrov, CEO of Velas in his statement, Thursday (17/2/2022).
According to Alexandrov, this upgrade is expected to strengthen the Velas blockchain to reach more users and penetrate into a wider and more diverse business sector.
Compatibility with the Solidity programming language is now finally achieved through this collaboration between Velas and Solana. The number of transactions per second has also surpassed the record of VisaNet’s centralized payment network.
Apart from speed, privacy is also a top priority for Velas and is integrated with the Solana codebase.
More Than Just Blockchain
A blockchain that is classified as reliable, is not just a blockchain for a payment system but one that can add value to your product.
With an infinitely scalable blockchain, you can create products that can make people’s lives easier using the technology.
Velas has started its steps in contributing to society through its flagship product, namely a decentralized social media platform, named BitOrbit.
The platform is oriented towards blending the best of social functions in today’s centralized platforms while respecting user privacy.
The formula is to take Telegram’s solid user base, add social functionality and a video feed inspired by leading centralized platforms like WeChat and YouTube. Sophisticated, all of this is supported by blockchain technology (Velas).
BitOrbit consists of 3 modules at its core, namely Account Module as an easy-to-use entry point to the Velas ecosystem and payment functions such as one-click payments with multi-currency support.
Content Module, where content streaming features decentralized censorship, supports multiple layers of monetization, private and public content, and instant payments.
Chat Module, private and secure communication with additional functions such as crypto asset wallets, private groups and micro apps.
BitOrbit, Decentralized Social Media
BitOrbit, a decentralized social media powered by blockchain technology, was also launched to provide a social media network with advanced cryptographic features.
“Using Telegram’s user base, BitOrbit is expected to be a safe, simple and friendly platform, where user privacy is guaranteed,” said Alexandrov.
BitOrbit embeds a built-in crypto asset wallet, which allows users to make payments using crypto assets with one click.
BitOrbit also offers a built-in app, as far as we know Telegram has bots, but its capabilities are very limited. BitOtbit’s role is to enhance this by providing a feature to replace its interface with a UI React Native Component, so that anyone can configure their own UI/UX bot.
Furthermore, Velas added a video feed to add more social media functionality.
More than one million Velas users are projected to become BitOrbit’s social media user base.