What currency is VLX (Velas)? What does VLX (Velas) mean?

Velas (VLX) is the native cryptocurrency of the Velas blockchain platform, used for network fees, staking, and powering decentralized applications.

Oct 16, 2024 at 06:30 pm

What is the Currency of Velas (VLX)?

Velas (VLX) is the native cryptocurrency of the Velas blockchain platform.
Velas is a high-speed blockchain that utilizes a unique Proof-of-Stake consensus mechanism, allowing for rapid and low-cost transactions.
VLX is used for:
- Paying network fees for transactions on the Velas blockchain.
- Staking to secure the network and earn rewards.
- Participating in decentralized applications (dApps) built on Velas.

Meaning of VLX (Velas)

The meaning behind the ticker symbol "VLX" is not explicitly stated by the Velas team.
However, "VLX" may potentially represent the initial letters of the project's core values:
- Velocity (referring to the blockchain's high speed)
- Liquidity (referring to the availability of VLX for trading and use)
- X (representing the innovative and blockchain agnostic nature of the project)

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