Vitae is a utility token for the social media application that allows users to access the products and services. The mission of Vitae is to fulfill the purpose of others’ lives and to restore the foundations of humanity. Also, the purpose of creating the Vitae token is solely for its utility. Users can use it on social media applications. Moreover, the platform aims to provide a path for individuals to generate income using social media applications.

According to the whitepaper, the Vitae token is a PIVx fork that uses PIVx technology. It is based on the peer-to-peer PoS (proof-of-stake) protocol and the Bitcoin core 0.10.x codebase. The token uses a network of masters/supernodes for publicly visible decentralized governance to improve and secure transactions. A node is a part of the blockchain infrastructure that maintains the ledger of public transactions. Besides, the Vitae coin seeks to combine all the reward opportunities that include PoS, masternodes, and supernodes to distribute rewards to its users.

The Vitae token also uses SwiftTX technology to aim to ensure instant transactions. Users do not have to wait for multiple confirmations of the validity of a transaction. The supernodes or masternodes confirm the authenticity of the transactions instantly and allow users to spend their tokens. Moreover, the token uses the Zerocoin protocol to seek to protect supernodes and masternodes from DDoS attacks. A DDoS (distributed denial-of-service) attack occurs when multiple systems overwhelm the resources or bandwidth of a targeted system. Thus, the protocol aims to allow the blockchain to work efficiently during attacks.

Moreover, it is necessary to distribute pre-mine tokens to facilitate the needs of the network and initiate the PoS and block reward systems. Across the blockchain, 1 million tokens have been pre-mined, burned, and distributed. Token burning is the removal of coins from circulation to reduce the token count.

The whitepaper was published on November 3, 2019. Michael Weber is the founder of Vitae. The maximum total supply of the Vitae token is 100,000,000 VITAE. 

We werken onze Vitae naar EUR valuta in realtime bij. Ontvang de actuele prijs van Vitae op Coinbase.