Velas blockchain: AI-enhanced DPOS (AIDPOS) consensus, Interoperable, Scalable Blockchain Network
Mentioning Security and Decentralization
Introduction:Blockchain and AI;AI, or artificial intelligence, refers to the theory and construction of machines that are capable of performing a variety of tasks; tasks that require intelligence. Advanced technologies are now trying to use this field in machines, artificial neural networks and deep learning.
At the same time, blockchain is precisely a new system for digital information that stores data in encrypted and distributed form. Because data is stored among thousands of different computers, it will make it possible to generate an unalterable and reliable database that can only be read and updated by licensed individuals.
Although much has been said about the potential of combining the two technologies academically, its applications in the real world are now rare. However, this situation is expected to change in the future.
So in three ways we can say that the two technologies are complementary and built for each other.
Artificial intelligence and cryptography work well togetherThe data stored in the blockchain is naturally secure, thanks to its inherent encryption. Therefore, it can be said that blockchain is ideal for storing highly sensitive and personal data. Now, if this data can be intelligently processed, it will create a lot of value. Think of a medical system that can make accurate diagnoses based on our medical history and by Amazon's recommendation systems (which systems can predict what our next purchase will be).
Blockchain can help track, understand, and explain decisions made by AIUnderstanding the decisions made by artificial intelligence can sometimes be difficult for humans. This is because artificial intelligence is able to evaluate a large number of variables independently of each other and has the ability to learn which one is important for the whole operation.
For example, artificial intelligence algorithms are expected to be used in deciding whether financial transactions are fraudulent and should be blocked.
If decisions are stored on a blockchain, it will be much easier to monitor them. Ensuring that records are not tampered with after storage and review.
It doesn't matter exactly how we see the benefits of artificial intelligence in many areas. If the power of artificial intelligence is accepted by society, its weakness will eventually be ignored. Saving the decision-making process on the blockchain can help achieve a higher level of transparency and confidence in public opinion.
Artificial intelligence can better manage blockchain than humansTraditionally, computers have been extremely fast, but stupid. Without a detailed explanation of how a task is performed, computers cannot do it. This means that due to the encrypted nature of blockchain, working with blockchain data on ignorant computers requires a lot of processing power. A mining algorithm equipped with machine learning can solve this problem. It is clear that blockchain and artificial intelligence are two important topics in emerging technologies, and combining them together can create more benefits. Both of these technologies can improve and develop other capabilities, as well as provide more opportunities for better management and attitudes toward each technology.
What is Velas?
Velas is a Blockchain platform for secure, interoperable, and extremely scalable transactions and smart contracts. Heralded as a game changing technology, blockchain has had its ups and downs. The distributed ledger technology has shook the foundations of traditional financial systems with its efficiency, speed and economy. On the other hand, a number of large corporations, including connected in the finance industry, have tested and found the technology does not offer an improvement that is worth investing their time and money in.
The controversies do exist. It is not a case of overconfidence in the technology or the unwillingness of traditional players. The fact is that current blockchain technology and ecosystems have approached the limit of their capabilities. Today, the need is of a blockchain system that is designed specifically to cater for the limitations.
VELAS
Virtual Expanding Learning Autonomous System, (VELAS) is a blockchain ecosystem that different from all the others. The developers of Velas looked into the current blockchain systems and realized that each new system introduced in the market is designed to be better than the current ones, but ultimately all the systems are still inherently limited in their expansion and operations such as block time and transaction speed.
Velas is a blockchain system that is leverages of artificial intelligence and integrates it into blockchain to introduce unique characteristics. The platform becomes a self-learning system that not only has a fast ecosystem, but also optimizes blockchain:
• Velas AI: A set of algorithms, called Artificial Intuition, is used to identify patterns and relationships in data sets. The AI used has the ability to adapt the system to produce the best possible outcomes without compromising on the processing criteria.
• Variable Block Time: The AI system of Velas keeps a check on the network load at all times. If the load increases, usually it would result in confirmed transactions per second (TPS) falling. The intelligence would counter this by increasing the block size so that the more transactions can be accommodated. In case the TPS load is low, it will reduce the block size and execute multiple blocks, reducing the amount of information per block.
• Network Training: Each node in the Velas ecosystem forms its own dataset that it obtains from the blockchain. The AI uses this data layer to train itself. Each time more data is obtained, learning from the previous is integrated and the system generates a higher learning curve, helping to secure the Velas ecosystem as a whole.
• Staking: Rather than use an energy intensive Proof of Work, the AIDPoS is a staking mechanism. In this, the node players place their VLS tokens to have the ability to take part in consensus. Apart from being energy efficient, the staking of the tokens mean that the node has a part in losing its valuable tokens and therefore, it will do its best to protect the system. This mutually beneficial aspect strengthens the Velas ecosystem more than any other blockchain.
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Artificial Intelligent Delegated Proof of Stake (AIDPoS)AIDPOS is a consensus mechanism that is designed to help the Velas ecosystem have increased security and defend itself from any form of 51% delegated attack. The system actually uses different parameters to determine which node is the most capable and efficient of working, including the reliability of the node itself, and only allows these nodes to for consensus. This ensures that malicious or compromised nodes are eliminated, protection the whole blockchain.
Each node is rated by the Velas AI. The rating is what generates a reputation on which the Velas system determines which node to select in the future. The selection of the nodes depend on four basic factors:
• Number of Transactions: The total number of transactions successfully executed by the node, along with the quality, lead to point generation. A good transaction will give points and a fake transaction will reduce the points.
• Staking Points: The higher number of tokens staked by a node that it has more commitment to the blockchain ecosystem. Higher tokens staked would result in higher points.
• Block Generation: Each successful block generated by a node would give it points.
• Up Time: The more reliable a node is according to its uptime and online availability, the more points are awarded to it. Disconnected, either due to no internet service, network disconnection or even unavailable processing power will lead to point elimination.
The points garnered from these characters would give each node a ranking and a rating. The AI of Velas will only select the top nodes that have the highest ranking. Through this, the Velas AI the integrity and security of its blockchain.
Network Training AlgorithmEach node forms its own dataset (training sample) from the blockchain data. In this data, layered training of genetic algorithms occurs. Each subsequent layer studies the previous one: training on the autoencoder principle. After pre-training, a backpropagation method is applied to tighten the weights to a minimum. The network must be trained before the next block cycle.
Genetic algorithm:
• Creation of a specimen: a matrix with random weights (genes)
• Competition: getting the minimum of the objective function
• Selection: ranking specimens by error. The smallest error is a victory.
• Reproduction: exchange of the matrix’ elements, or genes, 50/50 from the first two most successful.
• The cycle is repeated until a 70% probability is obtained
Choosing the best network• The nodes form a test dataset prior to the formation of a new block cycle.
• After the formation of the test sample, the matrices are checked.
• The matrix with the smallest error wins and gets loaded into the next era.
• The node of the winning matrix receives Velas (VLX) from the network
A market for the sale and purchase of the most effective specimens will evolve which will open up the development of the blockchain network maintenance algorithm with rewards for other systems based on Velas.
In the era of ultra-fast computing systems based on quantum technology, it’s possible to achieve close to an ideal state of a neural network in a short period of time having trained it in a commercially available quantum computers, while only adding new features over time.
By solving blockchain network maintenance tasks, each AIDPOS node makes an intellectual contribution by further developing a neural network. This all happens without requiring any understanding programming languages by operators of selected nodes.
RollOut Network Version ScheduleToken Swap: Coin to Velas (VLX) payments are made via the Coinpayments platform on July 4, 2019 and will receive Velas independence day from the original token. It will also launch the first Phase to be discussed in the Technical Paper: Phase 1 (Pre-Alpha): Making blockchain, coins, transaction structure on 4 nodes. The node will be run by the network provider during pre-alpha. A smart contract on the wallet will allow all CPS (CoinpaymentsCoin) coin users to exchange 1: 1 for VLX (Velas). Manufacture of special tokens or digital assets. Each phase is expected to take 3-6 months to launch.
Stage 1 (Pre-Alpha): Creation of the blockchain system structure, coins, transactions on 4 nodes. Nodes will be run by network organizers during pre-alpha stage. Smart contract in wallet will allow all CPS coin (CoinpaymentsCoin) users to swap 1:1 to VLX (Velas). Creation of tokens or custom digital assets.
Stage 2 (Alpha): Creation of a stable system, Velas deployment on 10 nodes and testing AI from network organizers 4 servers. Introduction of Multi-Wallet Containers public and private send functions.
Stage 3 (Beta): Addition of AI offsprings populating test nodes in order to compete with server side AI. Further expansion for all the leading cryptocurrencies for Multi-Wallet container system for sending, receiving and smart contracts functions.
Stage 4 (Release Candidate): Integration of AI into existing advisor nodes, amount of which is now set by the AI logic.
Stage 5 (Release): Launching the full functionality of the system. Users can now download neural network kits and optimize them for their projects using visual tools and earn for their contribution. Coin nodes will be spun up using trained neuron network pretrained for most environments and will allow easy setup and maintenance
of coin nodes.
Velas TokenVLX is the native cryptocurrency of VELAS ecosystem.It is a digital assets that fuels the economy of VELAS Blockchain and it has multiple functions.It is used to power smart contract and payment of transactions. Users get 25% discount on fees when using VELAX token (VLX).
Holders of VLX can also stake their token on the Blockchain for supporting the blockchain. This will enable them to earn additional token as staking rewards for supporting the network. The earning potential based on staking depends on the amount of token staked on the Blockchain.Miners are always rewarded handsomely within the network for contributing GPU to the network
Multi-Wallet Technological servicesVELAS Blockchain offers multi-currency wallet system, unlike some blockchain system which only offer a single wallet.Users can storage securely some other cryptocurrencies like Bitcoin XRP, Monero, Ethereum, and EOS in VELAS wallet. All these cryptocurrencies enjoy the security offers by VELAS Blockchain system. Users can create Mult-Signature for their account. Users take total control of their Wallet through their Private key generated after creating their wallet.
Velas Team, Advisors and PartnershipsAs is important with any blockchain startup that enters the space, it is important to explore those behind the project. Firstly, the platform was founded by CEO Alex Alexandrov. The founder is currently a board member of the Blockchain Society Canada.
Supporting the CEO are a number of experts in the blockchain development, investment and marketing sectors. Velas also has a number of advisors on board to spearhead the initial growth of the project. This includes Dr. Moe Levin – CEO of Keynote, and Marshall Long – Managing Partner of Mockit Esports.
If you want to engage with somebody from the Velas team, or simply want to interact with the Velas community, the project is active across a number of social media channels. This includes Telegram and Reddit, alongside Facebook and Twitter.
On top of its core management and team of advisors, it is also worth noting that Velas has formed a couple of partnerships with fellow industry counterparts. This includes integrated cryptocurrency payment gateway CoinPayments, which will utilize the Velas token as its native currency to access discounted trading fees.
Moreover, the platform has also partnered with Mind AI – a fellow blockchain protect that seeks to build its technology framework on top of the Velas blockchain.
RoadmapJuly 4th 2019 - Stage 1 Pre Alpha Token Swap
July 2019 - Private Sale
September 2019 - Block Explorer
September 2019 - Desktop and Web Wallets
September 2019 - Public Nodes Software
2019 Q4 - Exchange Listings
2020 Q1 - Research of A.I
2020 Q2 - Mobile wallet launch
2020 Q2 - New wallet features: decentralized cloud; multi signature capability
2020 Q2 - New exchange listings
2020 Q3 - Stage 2 Alpha AI Deployment
2020 Q3 - Launch of mind.ai Main-net on Velas
2020 Q3 - Container system: launch of cross-chain TXs
2020 Q4 - Stage 3 Beta Decentralized AI & Full Open Source
2020 Q4 - Hardware Wallet
December 2020 - Stage 4 Production. Full decentralization is achieved
2021 Q1 - Fully functional system
For more information about this project, see the link below:Website:
https://velas.com/White Paper:
https://velas.com/VELAS-Technical_Paper.pdfTwitter:
https://www.twitter.com/VelasBlockchain/Telegram:
https://t.me/velascommunityFacebook:
https://www.facebook.com/velasblockchain/Instagram:
https://www.instagram.com/velas.blockchain/Medium:
https://medium.com/@VelasBlockchainLinkedin:
https://www.linkedin.com/company/velas-agGithub:
https://github.com/velasDiscord:
https://discord.gg/CTcKpPc
