Validity (VAL)
What Is Validity (VAL)?
Validity is a decentralized platform that works on blockchain technology. It uses an improved proof-of-stake mechanism to seek to offer services that enhance security, productivity, and transparency. Validity is an open-source blockchain jointly produced, shared freely, and released publicly. The primary goal of this public platform is to provide an interface where individuals can access a wide range of blockchain-based functions.
Moreover, Validity is developing a one-stop decentralized services platform that includes cryptographically managed identities, file signatures, public voting, proof-of-ownership, NFTs, virtual worlds, and immutable text notes. Validity election is one of these blockchain-based services that aims to ensure transparency and integrity in the voting process. Users can use the validity elections platform for everything: from managing projects and club votes to political elections and shareholder voting.
Besides, Validity SmartChain is another component of the platform that aims to store all the functions and information required for nonfinancial applications of Validity. In addition to that, SmartChain can store data without impacting volatile memory usage.
According to the whitepaper, the VAL token is the native token of Validity. Platform users can earn Validity coins by staking. For Validity, staking represents the process of validating transactions on the Validity blockchain network. Besides, the platform generates new Validity tokens (VAL) by dividing groups of tokens held in wallets.
History of Validity (VAL)
Validity was formerly known as RadiumCore. The platform was launched on May 25, 2015. The entire team of Validity comprises nine members, of which Justin Jacobeen is the blockchain architect. He is a software developer with experience in mining. Since 2013, he has contributed to the development of various tokens. Besides him, Tim Mesker is the senior developer of the team who has experience in developing for more than 10 years. The maximum total supply of the tokens is 9 million VAL.
