VELAS – THE SELF-LEARNING BLOCKCHAIN PLATFORM

Can blockchain networks operate on their own without some human inputs? That ought to be the primary goal because blockchain technology claims to be decentralized. Hence, it is free of intermediary influence.
The only thing that is yet to be seen is how the blockchain network can work in isolation; that is working on a self-learning basis. While this may seem a daunting task; it is already in motion and the VELAS platform is the one championing the cause.

WHAT IS VELAS?

VELAS means “Virtual Expanding Learning Autonomous System.” It is there to leverage the decentralized nature of blockchain technology to bolster the integration of Artificial Intelligence (AI) in blockchain operations.

CHALLENGES THAT PROMPTED VELAS
There are some issues already in existence in blockchain technology. It is these issues that are behind the reasons for the inception of the VELAS platform.

Here are some of the challenges so you can see why the application of the VELAS solutions will help in resolving them.

• No Incentives
  Incentivizes ought to be in place so that those who are bolstering the growth of the blockchain platforms will be rewarded.
  Sadly, this isn’t in place to a greater extent. Many blockchain platforms do not reward their users. The few that do are always issuing multiple rewards to the miners alone.

• Limited Scalability
  Scalability has continually been a course for concern. When blockchain platforms cannot facilitate transactions at the speed of light, it becomes a problem.

THE VELAS SOLUTION
VELAS is fixing those issues on the blockchain network. It does that in various ways and those will be discussed below.

1. Use of Neural Networks
   As mentioned earlier, it is time to integrate the advanced technologies, such as Artificial Intelligence so that blockchain technology can go to the next level.
   That is the reason why the VELAS is there to help you. The platform makes use of neural networks. These neural networks are optimized by Artificial Intelligence. And if you are not aware about what this means; it means that security, full-scale decentralization and stability will be optimum.

2. Scalability
   In terms of the scalability of the platform, VELAS has made it all easier. The platform promises that transactions would be facilitated in good time, i.e. 30,000 transactions can be completed per second.

3. AI-Backed Staking
   The way stakes are carried out will also be shuffled on the VELAS platform. Because of the use of neural networks, it will now be easier to leverage Artificial Intelligence (AI) for the selection of those who will be allowed to stake.
   Of course, the stakes will be based on the current needs of the VELAS blockchain platform. That way, only the important projects will be facilitated therein.

CONCLUSION
VELAS is the first self-learning blockchain platform with the aim of ensuring that transactions are facilitated in good time. The idea is that it will now be possible for the users to leverage the AI-backing of the platform to bolster the scalability, the transparency, and the security of blockchain technology.

USEFUL LINKS
Website: https://velas.com/
Blue Paper: https://velas.com/VELAS-Blue_Paper.pdf
Technical Paper: https://velas.com/VELAS-Technical_Paper.pdf
Telegram: https://t.me/velascommunity
Twitter: https://www.twitter.com/VelasBlockchain/
Facebook: https://www.facebook.com/velasblockchain/

AUTHOR’S DETAILS
Bitcointalk Username: Nancyo
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2759950;sa=summary