Vite operates a Directed Acyclic Graph (DAG)- based smart-contract platform that features “zero-fee transactions and optimizes for transaction speed, reliability, and security“. Vite main net has been running since 2018. Team of 40 people.
Vite’s virtual machine maintains fully compatibility with the EVM, and utilizes an asynchronous smart-contract language: Solidity ++
The Vite team operates three self-developed products on the Vite network: (1) **ViteX** (operational decentralized exchange), (2) **VitePay** (a payment platform), and **VitePlus** (for government and enterprise blockchain applications).
Vite tokenomics: The VITE token is used to initiate transactions and fuel smart contracts (similar to [Ethereum](https://research.binance.com/en/projects/ethereum)’s gas). additionally, VITE can be used to vote for (Snapshot) block producers.