Velas (VLX) is the native token for the Velas blockchain, an EVM-compatible blockchain aiming to provide an open-source platform for decentralized projects and applications. The VLX token is used for transactions, payments, fees, and for supporting the Velas network's Proof-of-Stake consensus protocol.
Founded by Alex Alexandrov, Velas is a project that combines blockchain and innovative technologies to create a decentralized, community-driven ecosystem of products and services. Velas aims to be the industry standard, and was designed to be a blockchain platform that can be used for thousands of applications and services to be built upon. The goal of Velas is to create and integrate revolutionary technological products and services to improve the lives of people all over the world and make the internet more free. Velas’ services are primarily focused on their users, and combine the best qualities of both centralized and decentralized solutions. Velas’ goal is to use various technologies to develop a blockchain that focuses on scalability, security, cheaper transaction fees, and decentralization.
