VeloxCoin is a proof of work/proof of stake currency that has been created as a share structured currency for the upcoming VeloxBolt decentralized & anonymous exchange and trading platform. VLX can be mined, transacted, traded, and will serve the purpose as the POW/POS based token of the VeloxBolt exchange and trading platform, where VLX holders will be rewarded with buy-backs from the VeloxBolt/vNovum platform’s profits.

VeloxCoin will run on POW for the first 10,000 blocks, after which it will convert to full POS. Once the VELOXBOLT exchange has been released, buy-backs based on the platform’s profit will commence. Buy-backs are a result of accumulated exchange fees and listing fees from the VeloxBolt platform, and will ultimately result in a rising VLX price, rewarding VLX holders.

Until VeloxBolt is officially released to the public, will be a temporary solution where users can trade VLX pairs such as VLX/BTC & VLX/ETH. Velox will not be listed on public exchanges but only exclusively on the VLX Exchange and VeloxBolt platforms. Once VeloxBolt has been released, Velox Exchange balances will automatically be transferred, and no data will be lost or removed. All user accounts will remain the same as well as balances, and the transition will be swift and rapid. More information about this transition and about our project can be found in our Whitepaper.

Crypto Currency exchanges in the current day and age have moved a long way from their original structure at the beginning phases of crypto currency. What used to be a semi-anonymous and seamless process to trade between one crypto currency and another has become a heavily regulated and di‑cult process for users all over the world, arguably caused by adoption of crypto currency majorly by centralized institutions. The adoption by centralized institutions has forced exchanges to adopt the current fiat monetary structure that we most use in our day to day lives into crypto currency. Adopting this system which arguably discourages some of the core foundations of Satoshi’s vision, the freedom of money & anonymity. Over time this current direction of the crypto currency exchanges and platforms, has made the revival the core values of crypto currency, along with the ability to transact and exchange crypto currency without a regulatory party, a little less possible almost impossible.

VeloxCoin is a Proof-of-Work/Proof-of-Stake (POW/POS) hybrid which comprises the digital aspect of the Velox Project. Each quarter, a percentage of profit accumulated from revenue generated by the utilities and services offered by the Velox Project, will be used towards VeloxCoin [VLX] “buy-¬backs”, performed on-exchange by the team, this will reduce the overall circulating supply of VeloxCoin [VLX] in the market and strengthen the VeloxCoin [VLX] community as well as the marketplace overall. VeloxCoin [VLX] is the only aspect of the Velox Project externally tradable, the rest of the Velox Project utilities and services will reside exclusively on the VeloxCoin [VLX] platform. All other Velox-associated currencies are not (such as the Velox Utility Currency) do not have any value outside of its designated platform.

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Author: vespa panjang


VeloxAddress: VM4X9BKtK8cLhHznjps1CLefDuRQqqggSW


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