Veles (VLS)

Veles Network, represented by the ticker VLS, is an open-source software project that aims to preserve individuals’ freedom of access to information and privacy on the internet. It utilizes distributed systems and blockchain technology developments to create a self-supporting and eventually self-governing network. The project offers decentralized VPN and tunnelling services, as well as decentralized recursive DNS, with plans to add more services in the future such as a distributed Instant Messaging platform. Veles Core employs innovative solutions to overcome common issues with current blockchain implementations, ensuring a secure and reliable blockchain for its users.

The Veles Network is built using a multi-tiered decentralized network approach based on the concept of Masternodes. These Masternodes provide the network’s services in a redundant and decentralized manner, focusing on service quality and availability. Veles Masternode 2nd generation offers additional services such as dVPN, recursive dDNS, and decentralized Shadowsocks tunnels. The project had a fair launch and does not have a developer premine or ICO, with the first block being mined on November 6, 2018. The economic model of Veles aims to ensure the store of value of its cryptocurrency (VLS) through a dynamic hashrate-based block rewards system and payments for extra services provided by Masternode operators.

Veles Network aims to give full control of project development and management to a decentralized organization controlled by all network participants. The project encourages community participation in Veles Core development and implements proposal submission and voting using Masternodes. The long-term goal is to establish a self-governing and self-incentivized decentralized organization with transparent funding, project management, and development teams. The Veles Network offers various features, including a trustless web wallet, secure mobile wallet, mobile tunneling, Masternode installator, Masternode dashboard, VelesOS live operating system, multi-algo PoW mining, and Masternodes for distributed services.