March 23rd, 2021 at 11:26 am UTC · 4 min read
While COVID-19 has led to years few could have ever expected or imagined, it has resulted in a massive surge in the wider public cryptocurrency adoption, pushing Bitcoin above it’s previous all-time high last seen in 2017 and with more users than ever before creating new crypto wallets or turning to exchanges across the globe.
One consequence of this surge in demand is a sudden and rapid push forwards in the technical advances for various crypto projects and what they’re able to offer. For Ethereum, this means Eth 2.0, perhaps the most anticipated advancement in recent times. A tidal wave of Decentralised Finance (DeFi) products and tokens have also entered the market, the past several months propelling exchanges like UniSwap and SushiSwap into the crypto stratosphere. However, one project is working to shake the very foundations of not just crypto as a whole, but social media, of wallet providers, and of the AI community – all in one, humble package.
Velas (short for Virtual Expanding Learning Autonomous System), a cryptocurrency project out of Switzerland, is set to launch a suite of services that is promised to rival Chinese social media giant WeChat, Telegram, Facebook and even Tinder, while innovating the Blockchain itself through products such as Velas vault, social networking platform Bitorbit, and much more.
Velas – only 1,5 years old but having already cemented itself among the crypto elite as a staple in the top 150 projects by market cap – is the brainchild of Alex Alexandrov, founder of the hugely successful CoinPayments.net, the number one crypto payments processor since 2013. Alex spoke about the state of the current crypto landscape as well as Velas 3.0:
“2020 was a shocking year for everyone, but comparatively the blockchain space has thrived as a whole.”
“We’ve had our heads down hard at work trying to build a platform for the future and we feel we’ve done just that with Velas 3.0.”
“Velas 3.0 is going to push boundaries in crypto that have never been pushed before, things that were once pipe dreams in the crypto space.”
“I finally feel as if my vision for Velas is coming to fruition and this upgrade is just another step in Velas bringing real and true innovation to crypto as a whole. Throughout this recent development cycle we’ve focused on usability, adoption on-ramps, agile UX, and interoperability to create a consumer experience that we feel is second-to-none.”
One of the major upcoming features with Velas is a social networking platform called ‘Bitorbit’, a sort of mash-up between the fundamentals of Telegram and WeChat with the interface aspects of Tinder and TikTok. Throw them all into a machine together and what you get at the other end is Bitorbit – a one-stop-shop for all crypto services in a smooth and efficient social networking package.
Other core blockchain fundamentals with Velas include the implementation of seamless one-click payments, a detailed Velas Account API, Integrated Crypto Wallets within their services (think Telegram, but being able to instantly send your friends or fans tokens right from the chat), and the utilisation of Microapps across the Velas Ecosystem At the time of writing, we’ve seen an embargoed list of Velas’ product rollout, including an impressive website redesign and rebrand, embracing a futuristic cleanness that warpspeeds Velas to the very tail-end of the 21st Century.
Change is hard to come by, especially in an industry so deep rooted in ‘what works shouldn’t be fixed’, but Velas is gearing to flip that notion on its head. With the launch of Velas 3.0, a new era of crypto dawns – and, with the VLX coin riding in tow, one project is rising like a tidal wave out of the bull-market boom.
Read the Velas Whitepaper.
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