Veles is an open source crypto-currency focused on fast private transactions with low transaction fees & environmental footprint. It utilizes a custom Proof of Stake protocol for securing its network and uses an innovative variable seesaw reward mechanism that dynamically balances 90% of its block reward size between masternodes and staking nodes and 10% dedicated for staking.
- Anonymized transactions using Privatesend.
- Fast transactions featuring guaranteed zero confirmation transactions using SwiftNode.
More information at veles.io
| Algo | Quark |
| Block Time | 60 Seconds |
| Difficulty Retargeting | Every Block |
| Max Coin Supply (PoW Phase) | 49,750 VLS |
| Max Coin Supply (PoS Phase, Pre Infinite) | 29,259,115 VLS |
| Premine | 4,000,000 VLS* |
| Premine burn | 1,000,000 VLS* |
| Block maturity | 60 minutes |
| Block Height | Masternodes | Miner |
|---|---|---|
| 2-200 | 90% (225 VLS) | 10% (25 VLS) |
| Phase | Block Height | Reward | Masternode | Staking |
|---|---|---|---|---|
| Phase 1 | 201-50000 | 200 VLS | 90% (180 VLS) | 10% |
| Phase 2 | 50001-75000 | 150 VLS | 90% (135 VLS) | 10% |
| Phase 3 | 75001-100000 | 100 VLS | 90% (90 VLS) | 10% |
| Phase 4 | 100001-150000 | 75 VLS | 90% (67.5 VLS) | 10% |
| Phase 5 | 150001-200000 | 50 VLS | 90% (45 VLS) | 10% |
| Phase 6 | 200001-250000 | 30 VLS | 90% (27 VLS) | 10% |
| Phase 7 | 250001-300000 | 15 VLS | 90% (13.5 VLS) | 10% |
| Phase 8 | 300001-400000 | 10 VLS | 90% (9 VLS) | 10% |
| Phase 9 | 400001-500000 | 5 VLS | 90% (4.5 VLS) | 10% |
| Phase X | 500001-Infinite | 5 VLS | 90% (4.5 VLS) | 10% |