VLX

VLX is the native cryptocurrency of the Velas blockchain. It serves as a unit of account within the Velas ecosystem and is used to pay transaction fees, participate in network staking, and support various ecosystem activities. VLX is the primary asset for economic incentives that align validators, developers, and users with the health and growth of the network.

Velas describes its platform as a scalable and energy-efficient blockchain designed for speed and interoperability. The architecture aims to combine strong throughput with security, and it is marketed as suitable for decentralized applications and smart contracts. The Velas project emphasizes an optimization approach that includes machine learning or artificial intelligence techniques to improve network performance and decision-making, alongside a delegated proof-of-stake style consensus mechanism to secure the network.

In terms of governance and economics, VLX issuance and rewards are defined by the Velas protocol. Validators and network operators typically receive VLX rewards for securing blocks and processing transactions. VLX holders may participate in governance or voting processes where supported by the Velas platform, enabling on-chain input into certain protocol or ecosystem decisions.

Market presence and storage: VLX is traded on multiple cryptocurrency exchanges and can be stored in wallets that support Velas tokens. As with other digital assets, holders are advised to use reputable wallets and exchanges and to stay informed about official Velas communications for updates and policy changes.