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About Vitae

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-stakeprotocol 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. 

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Australia News about Vitae

The Block • May 08, 24

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The crypto market maker said it has partnered with OSL and HashKey — both sub-custodians for spot bitcoin and ether ETFs in Hong Kong.

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CoinDesk • May 08, 24

Crypto Trading Firm Wintermute to Provide Liquidity for Hong Kong Bitcoin and Ether ETFs

Looking to strengthen its market share in the Asia region, Wintermute will become a liquidity provider to the recently launched Hong Kong-listed spot bitcoin and ether exchange-traded funds.

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The Block • May 07, 24

Proposal for Grayscale’s Ethereum Futures Trust ETF has been withdrawn

A proposal to list and trade shares of Grayscale's ether futures ETF has been withdrawn, according to a new document filed on Tuesday.

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BeInCrypto • May 07, 24

Mode Network Initiates 550 Million Crypto Airdrop on Optimism

Mode Network launches its governance token, MODE, initiating an airdrop and inviting users to participate. The token serves as both a governance tool and growth incentive, with a substantial total supply aimed at fostering network expansion.The post Mode Network Initiates 550 Million Crypto Airdr...

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BeInCrypto • May 07, 24

Ethernity Launches Ethereum Layer-2 Network with AI Integration

Ethernity Chain's shift to Ethereum Layer 2 features AI for security, focusing on DRM and lower costs, optimizing for the entertainment industry with eco-friendly practices and new project launches.The post Ethernity Launches Ethereum Layer-2 Network with AI Integration appeared first on BeInCrypto.

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CoinDesk • May 07, 24

BlackRock, Ondo, Superstate: The Biggest Movers in the RWA Sector in Q1

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The price of Vitae has increased by 100.00% in the last hour and increased by 100.00% in the past 24 hours. Vitae’s price has also risen by 100.00% in the past week.

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