VLX (VLX) API and Price Oracle
What is VLX (VLX)?
VLX (VLX) is the native cryptocurrency of the Velas blockchain. It aims to provide a scalable and secure platform for decentralized applications (dApps) and enterprise solutions. Launched in 2019, Velas was founded by Alex Alexandrov and his team. The name "Velas" stands for Virtual Expanding Learning Autonomous System, representing the platform's focus on machine learning and artificial intelligence.
VLX, also known as Velas, is a blockchain-based platform that stands out for its unique consensus algorithm called Artificial Intuition Delegated Proof-of- Stake (AIDPoS). Built on a modified version of the Ethereum Virtual Machine (EVM), VLX incorporates key elements from other prominent blockchain networks.
The underlying technology behind VLX involves a decentralized and distributed network of computers or nodes that work together to validate and store transactions. These transactions are recorded on the Velas blockchain, which is built using a modified version of the Ethereum blockchain.
The AIDPoS consensus algorithm ensures the security and efficiency of the Velas blockchain. It combines elements of Delegated Proof-of-Stake (DPoS) and Artificial Intuition, allowing VLX token holders to delegate their voting power to trustworthy network validators. This unique approach combines human intuition and machine learning to ensure accurate and reliable consensus.
The functioning of VLX revolves around its ability to provide fast and scalable transactions. By utilizing sharding and incorporating machine learning algorithms, Velas achieves high throughput and low latency on its network.
Moreover, VLX offers a range of features and functionalities, including smart contracts, decentralized applications (dApps), and token creation. These enable developers to build and deploy applications on the Velas blockchain while benefiting from its efficient consensus mechanism.
In summary, VLX operates on a modified version of the Ethereum Virtual Machine and utilizes the AIDPoS consensus algorithm for secure and efficient transaction validation. With its focus on scalability and speed, Velas aims to provide a robust platform for developers to build decentralized applications on the blockchain.
VLX, or Velas, offers several benefits compared to its direct competitors. One of the key advantages of VLX is its unique consensus algorithm, called Artificial Intuition Delegated Proof of Stake (AIDPoS). This algorithm combines the benefits of both Proof of Stake and Delegated Proof of Stake, allowing for fast and secure transactions on the Velas network.
Another benefit of VLX is its scalability. The Velas network is designed to handle a high number of transactions per second, making it suitable for various applications and use cases. This scalability sets VLX apart from blockchain networks like Ethereum, which has faced challenges with scalability due to high gas fees and network congestion.
VLX also offers a user-friendly experience through its intuitive wallet and developer-friendly infrastructure. This makes it easier for users and developers to interact with the Velas network, fostering innovation and adoption.
In terms of security, VLX incorporates advanced cryptographic techniques, ensuring the safety of transactions and user data. This sets it apart from other blockchain networks that may be vulnerable to security breaches or hacks.
Additionally, VLX provides interoperability with other blockchains through its cross-chain capabilities. This allows for seamless integration with different blockchain networks, enabling the transfer of assets and data across multiple platforms.
Overall, VLX offers unique benefits such as its AIDPoS consensus algorithm, scalability, user-friendliness, security, and interoperability. These features make it a competitive option in the blockchain space, distinguishing it from its direct competitors.
VLX, or Velas, is a blockchain platform that offers a wide range of functionalities and services. One of the main use cases for VLX is as a payment method and store of value. Similar to other cryptocurrencies like Bitcoin or Ethereum, VLX can be used as a digital currency to make transactions, purchases, or investments.
In addition to being a payment method, VLX also serves as a utility token within the Velas ecosystem. It can be used to access and pay for various services and features on the platform. For instance, users can use VLX to pay for transaction fees, participate in staking or masternode programs, and access exclusive features offered by dApps built on the Velas blockchain.
One specific use case where VLX stands out is in decentralized applications (dApps) and smart contracts. With the use of Velas' robust infrastructure and secure network, developers can create sophisticated dApps and deploy smart contracts that leverage the power of blockchain technology. VLX can be used as a means of storing and transferring value within these dApps, enabling trustless and transparent interactions among users.
Overall, VLX has multifaceted use cases, ranging from being a digital currency for transactions to acting as a utility token within the Velas ecosystem. Its ability to facilitate secure and transparent transactions makes it valuable in various contexts, including decentralized applications where smart contracts are employed.
DIA's VLX API is one of the API endpoints provided by DIA to offer real-time price feeds for various crypto assets. These price feeds are constructed using raw data sourced from numerous on-chain and off-chain cryptocurrency exchanges, including over 85 exchanges that handle cryptocurrencies and NFTs.
DIA stands out from other web3 data providers by delivering data that is not available elsewhere. While DIA does provide free API endpoints for developers to test, they also offer fully customizable custom feeds. This means that developers have the flexibility to tailor the API data feeds according to their specific requirements. Custom feeds can be customized in terms of sources, methodologies, update mechanisms, and more.
To access the free price feed API endpoints for any asset, developers can visit the asset's detail page on the DIA App. These API endpoints are publicly available for informational purposes and offer a simple way for developers to test.
However, the custom feeds are where DIA truly shines. These feeds offer a higher level of customization and can be requested by contacting DIA via Discord or Telegram. Custom feeds can be designed to meet specific user needs and preferences.
DIA's API has various use cases within the blockchain ecosystem. For DeFi applications, the price information from DIA's APIs can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi space, DIA's API can be used in peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other applications.
Overall, DIA's VLX API provides developers with a comprehensive solution for accessing real-time price feeds. While free API endpoints are available for testing, the customizable custom feeds offer greater flexibility and utility for users.
DIA's VLX price oracle is a smart contract that provides real-time price feeds for crypto assets. Unlike other web3 data providers, DIA is integrated with 35+ layer 1 and layer 2 networks, allowing them to deploy price oracles across multiple blockchains. These price feeds are constructed using raw data sourced from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, enabling DIA to deliver unparalleled accuracy.
While DIA offers demo oracles for developers to test, these are strictly for testing purposes and cannot be integrated into production applications. However, DIA also offers custom configuration for price oracle data feeds. With a custom feed, users can tailor the sources, methodologies, update mechanisms, and more to suit their specific needs. To request a custom feed, users can get in touch with DIA via Discord or Telegram.
DIA's price oracles have numerous use cases within the blockchain ecosystem. In the realm of DeFi, they can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi space, DIA's oracles can support peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other applications.
In the context of blockchain technology, a blockchain oracle is an external information provider that supplies verified data from outside the blockchain to smart contracts. These oracles bridge the gap between the blockchain and real-world data, facilitating the seamless execution of smart contract functions that rely on off-chain information.
Overall, DIA's custom oracles offer significant value to users, allowing them to tailor their price feeds to meet their specific requirements. By leveraging DIA's expertise and network of reliable data sources, users can access accurate and customizable price data for their blockchain applications.
The benefit of using DIA's VLX API & VLX Price Oracle lies in the extensive range of advantages it offers to users in the blockchain ecosystem. DIA's technology enables users to access accurate and reliable price data for cryptocurrencies and NFTs, providing a valuable resource for informed decision-making.
One of the main advantages of DIA's API and Price Oracle for the VLX token is the high level of customization available. DIA allows users to tailor each oracle and API endpoint to meet the specific needs of their decentralized applications. This includes configuring data sources, applying data cleaning filters, implementing pricing methodologies, and determining update mechanisms and frequency. This level of customization ensures that the data and oracle remain robust and resilient to market conditions, providing both global and specific market prices.
Transparency is another major benefit provided by DIA's API and oracles. The company offers full and granular transparency throughout the entire data journey. This transparency instills trust and confidence in users, as they can fully understand how the data is obtained and processed.
Furthermore, DIA provides tracking and monitoring tools to closely monitor its oracle and API feeds. This allows users to effectively track and verify the accuracy of the data provided, ensuring its reliability.
Overall, DIA's VLX API & VLX Price Oracle offer a multi-faceted benefit to users in the blockchain ecosystem. The customization options, transparency, and tracking tools provided by DIA ensure accurate and reliable price data, assisting users in making informed decisions within the volatile cryptocurrency market.