UTORG partners with Velas

UTORG partners with Velas

We are happy to announce the start of a partnership deal with an open-source blockchain solution Velas. Under the frame of the agreement, UTORG is going to implement a fiat-to-crypto payment gateway to the services of Velas. This implementation will allow the company to provide its customers with an additional convenient way to process their financial operations without any difficulties.

What is Velas?

Velas is a self-learning and self-optimizing blockchain platform created and designed with the purpose of secure, highly scalable transactions and smart contracts.

The blockchain Velas uses artificial intelligence-optimized neural networks to improve its consensus algorithm, supporting decentralization, stability, and security.

Velas is a next-generation blockchain ecosystem project that significantly implements a Delegated Proof-of-Stake (AIDPOS) consensus mechanism based on artificial intelligence to improve scalability, high security, and interoperability.

Thanks to realizing the consensus mechanism, the company claims that it is the world’s fastest EVM (Ethereum Virtual Machine) platform because it can perform up to 75,000 transactions per second, creating blocks only when needed. Meanwhile, it protects the network from threats and malicious activity.

Conclusion

Considering a long-term perspective, we are confident that this cooperation will bring its fruits. Moreover, we have great hopes of making our contribution to the development of decentralized finance services in the way it should be.