Veltor Coin is a new cryptocurrency offering promise of “Donar Network”. The dev claim that donar network will be capable of exceeding bitcoin lightning network and ethereum raiden network. But will the dev holds his promise?
The veltor layer
Veltor Coin’s goal is to become cryptocurrency that can be adopted for mass transaction. Veltor approach is real simple, to become cryptocurency that is designed based on absolute minimalism. An aesthetic structure, coupled in an elegant architecture. A lean codebase that focuses on one thing and one thing only : being the ideal foundation of lightning network.
Veltor codebase will consist of three layer :
This is the most critical one. It is as efficient as it get and used as little code as possible. No compromises on technical debt, or unnecessary code. This is the fundamentally minimalist transaction base.
This will be the contract layer, it will be the frame for advanced trust application or known as smart contract. This will also gonna be the base of lightning network.
The third layer
This will be the lightning network layer. The three layer will be tuned to work in harmony with each other in order to reach optimum performance.
Veltor vs Bitcoin vs Ethereum
Veltor approach to compete with bitcoin lightning network and Ethereum raiden network is called Lean blockchain. So a lean blockchain will get rid of all technical debt and using the code to a bare minimum. The focus will be efficiency and optimizing scalability for mass adoption. For example, rather than implementing full SegWit code, veltor will narrow it down to the essential function only: The time function. The time function is all that is needed for lightning network implementation.
Veltor Hash Function Algorithm
Veltor use Argon2 as a hash function in regards of mining blocks. The Argon2 was developed by expert in cryptography field. It has won the renowned password hashing competition. Argon2 algorithm is memory-hard, in other words it will be ASIC resistant. This way, veltor will be more decentralized.
Key advantages of Argon2 algorithm is the possibility to set custom parameters, making it possible to change memory usage, performance, and parallelism.
Veltor Development team
The veltor dev team remain anonymous during early stage of development, they even goes as far as concealing their face/voice when they are doing interview, which you can see here.
Finally, on April 16th 2017, the dev team reveal their identities, this is the list of the dev team :
- Mindaugas Kurlavicius (Ruby Developer)
- Max Wolter (Go Developer)
- Sergii Shumakov (C# Developer)
- Julien Bordellier (Dev Ops)
- Alexander Bremin (Entrepreneur)
- Gaury Antoine (Product Manager)
- Ivan Mendoza (Web Developer)
You can google above name or click on the hyperlink and find out their twitter/linkedin page. We have contacted one of the dev and confirmed that they are indeed working on Veltor project. You can see from the background of all veltor developer team that this is not a project to be taken lightly.
All of the core dev team are professionals with various background and skills in programming. From the linkedin page, they all seem to came from Luxembourg and France. Veltor is still in early stage of development and investing it now is a wise decision because if the dev team does deliver, you will see massive gain on your investment. The recipe for a successful project is already found on Veltor :
- Good Development team
- Offer new technology or improvement of existing one (Donar network)
- Clear goals and road map
The future of Veltor coin development
The next step of veltor coin development will be coinswap. Jason (The lead dev of veltor) said that coinswap will be available once the new codebase is ready. After that, veltor will implement SegWit and Lightning network. At the moment, there are no marketing going for Veltor project, as the dev said they will spent budget on marketing later when it’s ready and in production, probably some time after coinswap happen.
After the coinswap, getting listed on more exchange will be the goal. currently Veltor only getting listed on Yobit and Alcurex. Bittrex has shown interest in listing Veltor but the dev decide to hold it until the final product is ready to be used.
With groundbreaking new technology (Donar network), strong development team, and really low market cap, veltor is one of those “hidden gem” in a world of alternate coin. While most of coin is merely a scheme for pump and dump, or copy paste from previous succesful project, veltor offer new technology and long term investment goal. The road to segwit and lightning network will not be smooth, it will have ups and down. But when it eventually reach there, the patience will be paid off.