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Author Topic: [ANN] [VITE] [DAG + Smart Contract] Vite | Asynchronous Architecture  (Read 6715 times)
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October 24, 2018, 12:08:28 PM
 #1



A Next Generation High-performance Decentralized Application Platform


The Core Key Designs of Vite

Asynchronous Architecture | DAG Ledger | HDPoS Consensus Algorithm | Reactive Contract | Integrated Value System


Specifications

  • Name: Vite
  • Symbol: VITE
  • Initial Supply: 1,000,000,000 Vite
  • Inflation: Less than 3% per year
  • Transaction Fee:  Quota Based Resource Allocation Protocol
    • 1. A PoW is calculated when the transaction is initiated (Just like Nano)
    • 2. Mortgage a certain amount of vite
    • 3. Destroy a small amount of vite
  • Consensus Algorithm: HDPoS Consensus Algorithm
  • Snapshot Chain Block Time: 1 seconds
  • Ledger: DAG (Block-Lattice) + Snapshot Chain
  • Smart Contract: Reactive Contract (Asynchronous Contract)
  • Smart Contract Language: Solidity++
  • Token Address: 0x1b793E49237758dBD8b752AFC9Eb4b329d5Da016
  • Private Sale Investor: Bitmain, Node Capital, LinkVC, Genesis Capital, Ok Capital

Test Net 0.1


Exchange


Resources



Introduction

Vite is a next-generation Reactive Blockchain that adopts a message-driven, asynchronous architecture and a DAG-based ledger.  The goal for Vite’s design is to provide a reliable public platform for industrial dApps, with features of ultra-high throughput and scalability.


The most important innovation of Vite is its asynchronous architecture.

The following are the main asynchronous characteristics in Vite’s designs:


  • Asynchronous model of requests and responses
  • Asynchronous model of writing and confirmation of transactions
  • Asynchronous model of communications between contracts


In addition, Vite makes use of a DAG ledger structure called block-lattice, which has far better performance than the traditional blockchain structure.  To make up for the inherent security deficiency of the DAG structure, Vite incorporates the Snapshot Chain technology.

Vite's consensus algorithm, called HDPoS, is a hierarchical consensus algorithm with low latency and high scalability.

In order to accommodate the existing ecosystem, the Vite virtual machine maintains maximum compatibility with EVM,  while providing a more powerful smart contract language, which we call solidity++.

Vite's original quota-based resource model and resource-leasing function ensure that system resources get allocated with maximum efficiency. Commercial Heavy users can be guaranteed sufficient quotas, while lightweight users do not have to pay commissions.

Vite's design of token issuing, token exchanging via loopring protocol and cross-chain protocol constitutes a complete closed-loop value system. Users can conveniently issue, store and exchange their digital assets in Vite system.

In the future, Vite’s mobile app will come with an HTML5 engine for creating dApplets (Decentralized Applets).  Smart contracts on the Vite platform and corresponding SDK support will make it easy to develop and deploy dApps on Vite.


The DAG ledger


Vite makes use of a DAG ledger structure called block-lattice. Each account has its own chain. Each transaction refers to the hash of the previous transaction in the same account. Transactions are divided into two types: "request transactions" and "response transactions.”  A response transaction needs to refer to the hash of the corresponding request transaction. This setup creates a grid-like DAG structure.

Such a structure allows parallel writing of individual transactions, reducing the probability of collisions and improving system throughput.

Note that this structure has an inherent deficiency in security.   This is because transactions are grouped by accounts, and each transaction is only attached to the chain associated with the relevant account. Transactions generated by other accounts do not automatically become the subsequent nodes of the previous transaction. Therefore, for some transactions, the rollback probability of their reversion will not drop over time.  To address this issue, Vite makes use of the snapshot chain technology.



The Model of Asynchronous Requests


Transactions in Vite can be categorized as request transactions and response transactions.  Regardless of whether an event is a transfer or the call of a contract, two successive transactions get generated on the ledger.

A transfer can be split into a receive transaction and a send transaction; a transaction to invoke a contract can be split into a contract request transaction and a contract response transaction; the message call within each contract can be split into a request transaction and a response transaction.

After the split, each transaction only affects the state of a single account, and transactions do not interfere with one another, which improves throughput.  In addition, transactions by different accounts are also allocated to different nodes in the network, thereby increasing scalability.


The Model of Asynchronous Confirmation



In the Vite framework, writing transactions into a ledger and receiving confirmations by the system are also asynchronous.  Different users may write transactions into the ledger in parallel., and the snapshot chain will take snapshots of the ledger at a constant rate.  A confirmation happens once a snapshot of a transaction is taken.  As the snapshot chain grows, the number of confirmations will also increase.

The mechanism of asynchronous confirmation will reduce the peaks and troughs of the speed of transaction writing, thus optimizing usage of resources.

Vite employs a hierarchical HDPoS consensus algorithm. Each account chain in the ledger generates local consensus results,  and the snapshot chain at the highest level selects the final consensus result from the local consensus results.


The Model of Asynchronous Communication


Vite's inter-contract communications incorporate a message-driven architecture, where the contracts do not share states but only communicate by sending messages to each other.

If a contract calls another contract, the former needs to send a request transaction first. This is logically similar to producing a message in MQ.  After the node running the target contract observes the request transaction, the node writes a corresponding response transaction in the ledger, and updates the state of the contract. This process is equivalent to consuming a message from MQ.if a return value is needed,  the target contract will send another message to the source contract in the same way.

In this model, Vite's ledger serves the role of the message middleware, and can guarantee the exactly-once semantics of messages.

The message-based architecture features high throughput and scalability.  But on the flip side, the programming models become more complex. Not only is strong consistency not guaranteed, but latencies may become longer.

To address the above issues and reduce the cost of asynchronous programming, Vite will provide a contract language called Solidity++ and a full SDK associated with it. After rigorous research, we found that in actual scenarios , BASE semantics can replace ACID semantics. The increase in delay is still under control since the HDPoS consensus algorithm guarantees completion of the transaction confirmation  within 1 second.


Other Designs


Vite’s design also comes with a few other features.  They are practical solutions to problems and pain points in the realm of decentralized applications. The development of Vite's community and implementation of the VEPs( Vite Enhancement Proposals) will drive continual improvement of Vite protocol.

Vite’s protocol supports multiple tokens. Unlike the ERC20 scheme, user-issued tokens and Vite tokens share the same underlying trading protocol.  This ensures identical level of security between types of tokens, and obviates security concerns due to poor implementation (e.g., those caused by stack overflow).

Vite will have the Loopring protocol built in, enabling exchange of multiple tokens. Therefore, the Vite wallet has functions of a decentralized exchange.

In addition, Vite proposed the VCTP cross-chain protocol that allows the transfer of assets between chains. The Vite team will implement the cross chain gateways with Ethereum.  Cross-chain gateways with other target chains will open to the community.

The resource allocation mechanism in Vite is based on the stake of VITE tokens, the one-time fee, and the difficulty of PoW for a transaction.  The mechanism provides flexibility for users with different needs. Users can choose to stake  VITE for a period, to get fixed amount of TPS quotas. They can also pay a one-time fee to increase quotas temporarily.  They could also lease resource quotas from existing VITE stake holders.  Lastly, they could even obtain quotas by computing  a PoW.

Moreover, the design of Vite includes the naming services, contract updating, timer scheduling, Solidity++ standard library, block pruning, and so on.

The white paper contains more specifics.


Distribution

The financing of the Vite project has been successfully completed, with a total of approximately 60,000 ETHs (including some BTC converted according to market prices).

A total of 400,000,000 Vite was issued, which accounted for 40% of the total circulation. It is expected that the first token will be issued before June 15 .

All token issuance is divided into 5 times, 20% each time, one month apart.

Vite’s investment institutions include: Bitmain, Node Capital, LinkVC, Genesis Capital, etc.

https://cdn-images-1.medium.com/max/1600/1*AlgnTQzfGTFk-LbseKE-8w.png

https://cdn-images-1.medium.com/max/1600/1*5SX1nrR0w1A2Wk5xITXheQ.png
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October 24, 2018, 12:50:28 PM
Last edit: November 29, 2018, 08:59:44 PM by ViteLabs
 #2

We are currently running a campaign in order to help promote the launch of our TestNet! In this bounty, we will be giving away VITE Test Net Tokens (which will be migrated to actual VITE tokens when the MainNet launches)!! Deadline: December 15, 2018

Link Below:
https://bitcointalk.org/index.php?topic=5056409.msg48287593#msg48287593
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October 24, 2018, 01:16:59 PM
Last edit: November 06, 2018, 10:14:12 PM by ViteLabs
 #3

Hello!

We sincerely welcome your participation in Vite Labs' upcoming TestNet incentive program (aka Super Nodes mining program).  To participate, you would apply to become a super node, and once approved, compete in super node election on our network. When you are a super node, each time you produce a snapshot block will entitle you to mining rewards. 

More detailed and technical instructions will be provided when the incentive program goes live in mid-November.  For now, you may apply by following these steps: visit vite.org, navigate to "Super Nodes" at the top, and then click on "Apply for SBP" to complete the application form.

Below are some key points with the incentive program (also see the enclosed infographic):

+ Return on investment may reach 240%: The supply of VITE (initially 1 billion) will rise at 3% per year. All of this inflation will be distributed to the super nodes.  There will be 25 super nodes in total.  If a node remains a super node for a full year, it will get 1.2 million VITE. With the initial staked amount of 500k VITE, the ROI is 240%.

+ Requirements on token staking (approx. USD $15k): On Vite TestNet, each node must stake at least 500k VITE (This requirement will be raised to 1 million for MainNet)  AND have received at least 200k votes to be eligible as a super node.

+ Additional benefits in operating full nodes and voting for official super nodes: Vite Labs will run at least 5 super nodes. All tokens generated by official super nodes will be allocated to our community. On an annual basis, 70% (4.2 million VITE) of these tokens will be rewarded to voters for Vite's official super nodes, and 30% (1.8 million VITE) will be rewarded to all full nodes.

+ Hardware requirements (less than $250/month): Recommended: 8-core CPU, 16GB memory and 100Mbps bandwidth. Higher system demands may be required when transaction volume increases.

Please email back if you have any questions. You may also ask questions in our Discord or Telegram groups:

Discord: https://discordapp.com/invite/CsVY76q
Telegram: https://t.me/vite_en

We look forward to hearing from you.

Regards,
Team Vite
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October 24, 2018, 01:45:31 PM
Last edit: November 06, 2018, 10:16:38 PM by ViteLabs
 #4

As Vite enters the TestNet phase, we are celebrating by launching the Community Rewards ++ program:

https://medium.com/vitelabs/vite-community-rewards-launch-vol-1-d9f86ddce072
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October 24, 2018, 01:56:38 PM
Last edit: November 21, 2018, 01:09:40 AM by ViteLabs
 #5

We plan to hold a quiz campaign to test community knowledge on our recently-released Vite TestNet Incentive Plan!

The quiz will run from 9:00am to 9:30am (Pacific Standard Time) on Nov 21.

There will be 12 questions in this quiz presented in multiple-choice format.

For each question, we will determine 10 winners: Vite will reward the first 5 quiz takers who answer a question correctly.  We will also randomly select an additional 5 winners from the next 15 correct answers.

Each winner will receive 6,000 VCPs. So if you get every question right, you get 72,000 VCPs!

You will need a Vite address & Vite Test Tokens to participate.

You can obtain a Vite address on our TestNet by using one of our Vite wallets. You can generate an address on our Desktop or iOS wallets, or on our web wallet.

You can obtain Vite Test Tokens in our web wallet, by clicking on the 'get test tokens' button.

The quiz questions will be included in this post once the quiz opens.

The Desktop or iOS wallets are here: https://vite.net/
The web wallet is here: https://wallet.vite.net
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October 24, 2018, 03:17:46 PM
 #6

reserved!
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October 24, 2018, 06:10:22 PM
 #7

Is this a repost?
How is the distribution of these 40% of total supply happening?
Is it only for the ones that contributed with ETH already?

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October 24, 2018, 06:28:28 PM
 #8

Why are ou guys just creating the ANN on BCT after which the ICO has been concluded, there are some good DAG projects now also the smart contract projects just keep increasing, I am of the opinion that it would be a winner takes all in the space, the project that can offer the best scaling solution, not centralised and security would lead the raise

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October 25, 2018, 01:05:43 PM
 #9

Why are ou guys just creating the ANN on BCT after which the ICO has been concluded, there are some good DAG projects now also the smart contract projects just keep increasing, I am of the opinion that it would be a winner takes all in the space, the project that can offer the best scaling solution, not centralised and security would lead the raise

We have create the BTT, here is the older one: https://bitcointalk.org/index.php?topic=4438416.new#new

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October 25, 2018, 01:08:06 PM
 #10

Is this a repost?
How is the distribution of these 40% of total supply happening?
Is it only for the ones that contributed with ETH already?

1. The older one is abandoned.
2. The 40% of total supply is sold by private sale.

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October 25, 2018, 03:02:13 PM
 #11

Why are ou guys just creating the ANN on BCT after which the ICO has been concluded, there are some good DAG projects now also the smart contract projects just keep increasing, I am of the opinion that it would be a winner takes all in the space, the project that can offer the best scaling solution, not centralised and security would lead the raise

This post is meant to be a replacement for an older post, as mentioned in the reply immediately above this one.

To our knowledge, no other projects have successfully implemented smart contracts on a DAG ledger.  Besides this, we also have many other advantages, including a language called Solidity++ that supports asynchronous architecture and is still maximally compatible with EVM.  Token issuance will not be done with smart contracts (whose security can be compromised with bad coding practice) but rather a simple mechanism where all tokens on our platform share the same level of security ensured by Vite's infrastructure.  We will also have our own DEX and cross-chain gateway with mainstream tokens such as bitcoin, ETH and some stable coins.
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October 25, 2018, 08:55:07 PM
 #12

Vite TestNet Incentive Plan Roll Eyes
Super Node Election and Mining Rewards
https://medium.com/vitelabs/vite-testnet-incentive-plan-744cf45a9d09

❍ VITE ❍ High-Performance Decentralized Ecosystem ❍ Next Generation Blockchain ❍ (https://www.vite.org)
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October 29, 2018, 10:07:41 PM
 #13

Deep immersion in structure of Vite, do not miss it!
Smart Contracts in DAG: What is “DAG + Smart Contract” ?
https://medium.com/vitelabs/smart-contracts-in-dag-5059250b916b

❍ VITE ❍ High-Performance Decentralized Ecosystem ❍ Next Generation Blockchain ❍ (https://www.vite.org)
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November 03, 2018, 04:15:14 PM
 #14

ETH Address:0x3BDA21E482919105BECf6E186b0a08a3B290Bf9F
Telegram Username:@motoleb81
Twitter profile link: https://twitter.com/motaleb81
Youtube profile link:https://www.youtube.com/channel/UCkywR7VHKSXkxR2DgGQI4Cg
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November 06, 2018, 10:12:28 PM
 #15

Vite Bi-Weekly Report
Oct 16–31, 2018


https://medium.com/vitelabs/vite-bi-weekly-report-2eb2e615a38f

❍ VITE ❍ High-Performance Decentralized Ecosystem ❍ Next Generation Blockchain ❍ (https://www.vite.org)
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November 08, 2018, 07:52:24 AM
 #16

Deep immersion in structure of Vite, do not miss it!
Smart Contracts in DAG: What is “DAG + Smart Contract” ?
https://medium.com/vitelabs/smart-contracts-in-dag-5059250b916b
Thanks for posting. This is a good article, written by our CEO Smiley
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November 09, 2018, 09:56:13 PM
 #17

TestNet 1.0.0 is Formally Launched
Significantly ahead of schedule Shocked
Details:https://medium.com/vitelabs/testnet-1-0-0-is-formally-launched-f0e6295f7ad6

❍ VITE ❍ High-Performance Decentralized Ecosystem ❍ Next Generation Blockchain ❍ (https://www.vite.org)
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November 15, 2018, 02:50:04 AM
Last edit: November 15, 2018, 07:31:47 AM by eli_lyd1
 #18

We are currently running a campaign in order to help promote the launch of our TestNet! In this Bounty, we will be giving away both our VCP and VITE Test Net Tokens.



What are VCP Tokens?:

 These are Vite Community Point that live on the Vite Blockchain and can be used to buy goods in our Vite Store - we will be selling Shirts, Mugs, Hats as well as a few other surprises! Our international store will be opening sometime this month (our store for the China market is currently open and can be found here: www.vite.store)


What are Vite Test Net Tokens?:

These are tokens that were swapped at a 1:1 ratio from our ERC20 Tokens and reside on the Vite Blockchain (read more about this here: https://medium.com/vitelabs/burn-notice-effective-lockup-of-all-uncirculated-tokens-until-mainnet-launch-1527f0dfad31). These Tokens will not be supported by centralized exchanges until our Main Net launches - where at that time, they will be converted to actual VITE Main Net tokens (note: you can still trade our ERC20 tokens just like any other cryptocurrency)


Reward:

  • 25 VITE on our TestNet (which will convert to actual Vite when our MainNet launches)
  • 20,000 VCP

Deadline:

11/27/18 (limit 2,000 entrants)

Directions:

1. Create a web wallet and create an address on our TestNet (make sure you safely store and keep your keys private! This is the address where you will receive your rewards): https://www.vite.net/

2. When you go to your web wallet, you will see a faucet to receive test VTT tokens - click "Get Test Tokens"

3. Send 25 VTT tokens to two different Vite addresses who replied to this tweet: https://twitter.com/vitelabs/status/1061016600285896704

4. "Like" and follow our Facebook page: https://www.facebook.com/vitelabs/

5. Join our Telegram Group: t.me/vite_en (also follow our Community Rewards Channel for opportunities to receive more tokens: https://t.me/vite_rewards)

6. Follow us on Twitter

7. Retweet: https://twitter.com/vitelabs/status/1061016600285896704. After you retweet, make a comment on the tweet with what your Vite wallet address, $vite and your thoughts on the project

8. Fill out this form: https://goo.gl/forms/J4mM4zv0igQ6IRPR2




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November 15, 2018, 05:55:54 AM
Last edit: November 15, 2018, 07:32:49 AM by eli_lyd1
 #19

For Example:


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November 15, 2018, 08:22:01 AM
Last edit: November 15, 2018, 10:06:21 AM by plasmoske
 #20

The team is full of engineers from leading Chinese firms (Alibaba, Tencent, JD etc). They're active as hell on their Github https://github.com/vitelabs and almost a year ahead on their roadmap (Testnet is alreadyout when it was stated to be released in late 2019!). Team consist mostly of engineers and they have offices in San Francisco and Beijing.

Their supernode elections will be out soon and I think it'll be a good time to buy/research into Vite. A supernode however costs about 500,000 Vite so not really affordable for most. However if one is able to become one, they can earn up to 3000+ vite a day. They will be handing out rewards as an incentive for people who vote on supernode elections (need Vite tokens to vote) and people who will run node servers (do not require Vite tokens to operate) so it's really a good time to start looking at it. Maybe earn some extra tokens just by running a node or two.

Their consensus protocol will be DPoS based and operates similarly to Lisk/EOS.

Look into Vite. I know I have.


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