The reason for choosing Velas is due to efficiency in terms of transaction costs and speed, this reason is the main reason for startups in the crypto-asset industry, and this is what Cook did. The protocol, they chose the Velas blockchain as the right instrument to achieve their goals.
What is a Cook Protocol?
Cook.Protocol is a decentralized cross-blockchain asset management platform, the purpose of which Cook was built, a protocol so that investors and professional asset managers can open up a world of innovation in the fast-growing Decentralized Finance (DeFi) sector today.
In a recent statement, KP Peng Strategy Manager Cook.Protokol said,
“We are amazed by how Velas works with Solana to support the Ethereum Virtual Machine (EVM) so that scalability can be unlimited. That is what allows transaction costs to be cheaper, as well as a determinant for the future of Cook.Protocol"
As the world's first DPoS to be supported by artificial intuition, Peng sees Velas as a leader in blockchain technology that focuses on scalability and innovation.
"Cook.Protocol chose Velas as the basis for its development, which offers technical advantages and attractive market share", -said Founder and Ceo Velas, Alex Alexandrov.
Apart from the efficiency of transaction costs and speed, Velas also supports efficiency in terms of interoperability, namely compatibility with different blockchains, the Velas blockchain is compatible with the Ethereum blockchain, thanks to the application of the Ethereum Virtual Machine (EVM), Velas can also interact seamlessly with the Binance Chain and Houbi Chain with the Symblox Bridge, to name a popular blockchain.
Benefits of Building at Velas
"Users and program developers around the world can take advantage of the benefits that exist in the new Velas, inserting part of the Solana codebase becomes faster and cheaper," said Alexandrov.
He said, this is the first blockchain in the world that is managed with artificial intuition called Pos and DPoS technology, this can also ensure the level of security and quality of its decentralization.
The blockchain from Velas uses an innovative and unique consensus mechanism, which they call Artificial Intuition-Delegated Proof of Stake (AIDPOS). In simple terms, this is a DPoS consensus that is powered by a special technology, namely in the form of artificial intuition so that transactions can run more efficiently.
DPoS itself is a consensus algorithm derived from Proof-of-Stakes, where this is only a part of the validator node, which is allowed to validate all transactions that occur on the blockchain, based on the number of crypto assets it stores.
Velas also adds this artificial intuition aspect in it, This aspect utilizes a number of data collected automatically from various sources, then forms a decision on the system, after measuring a number of possibilities.
In one process that occurs, when this artificial intuition finds a potential inefficient network, the network can automatically make adjustments, without the need for reconfiguration.
Alexandrov claims that the community raised by Velas is very active and extensive, with more than 9500 users from various countries.
Another thing that is in Velas
Symblox is a decentralized financial application on blockchain Velas, Symblox has continued to grow since it was first launched a few months ago, now Symblox has entered the 4th stage for the farming feature.
As for the stacking site, Velas crypto assets (VLX) can be converted into sVLX crypto assets so that they can be used in the Symblox application, with sVLX it is possible for users to get the same passive income by running masternodes, which is 18-20. percent per year, only by doing HOLD.
Thanks to this feature, of course, it will be very helpful for those who don't have the capital to run a masternode, who must have at least 1 million VLX.
BitOrbit Social Media Application
BitOrbit is a decentralized social media that is an integrated part of the virtual blockchain, with advanced cryptographic features, BitOrbot will provide features of a built-in crypto asset wallet, video feed, and much more.
"More than one million Velas users are projected to become BitOrbit's social media user base," concluded Alexandrov.
BitOrbit is designed to be similar to Telegram which is known to be secure in terms of privacy, BitOrbit also emphasizes that character with cryptography and blockchain systems, also to make it more functional, for group conversations, for example, the communication that occurs can be more stable, anonymous and of course safe.
