Velas is an AI-powered Delegated Proof-of-Stake (AIDPOS) blockchain, open-source platform, and wide-scale ecosystem of decentralized products. It was founded in 2019 by Canadian citizen Alex Alexandrov, a prominent blockchain and crypto entrepreneur and investor. He is also a founder of CoinPayments, the world's #1 payment gateway for cryptocurrencies, advisor, and investor of Mind AI. Velas is a new AI-operated dPoS (delegated proof of stake) blockchain project and an ecosystem on which one can build AI projects, dApps, smart contracts, etc.
The development of Velas is rooted in CPS, as the founders saw an opportunity to create their own proprietary AI-enhanced Blockchain and consensus protocol rather than using a third-party solution that still has flaws. The development of Velas started two years ago. Currently, there is a dilemma in the industry on how to make Blockchain both secure and scalable. Therefore, Velas works on adding an AI module as an additional layer to prevent known attacks by slowing down the Blockchain when an attack on the system is in progress and accelerating the design when there is no malicious behavior in the network.
Velas has gained huge public attention recently and has become much more popular. Its Twitter account saw exponential growth in the number of followers since September 1, 2021, to surpass 72k followers on September 19. The same trend is seen for its Telegram channel users, exceeding 55k people on September 19.
Although VLX’s market capitalization rank had been decreasing from late April 2021 to late August, leading to the ranking of 372, the trend changed dramatically and jumped to 186 on September 8. VLX’s price has followed a similar trend over the same period and saw a similar jump, from approximately $0.05 on August 30, to $0.167 on September 7. Another point to consider is its liquidity score. VLX’s liquidity score is 35% below the markets’ average score, which makes it harder to sell when the market is falling.
Talking about Return On Investment (ROI), VLX’s investors enjoyed a 245% profit on their investment over the last year. However, this number is much below similar projects’ average ROI (410%). Also, VLX underperformed compared to the market’s top 1500 project, which had 4,034% ROI last year. Considerably, its one-month return was 180%, which could make you fly in the sky if you had bought it a month ago!
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