VELIX.ID
Velix.ID is an ecosystem designed to solve the issue of financial cost, time wastage, privacy and security concerns associated with Identity Verification Space. It introduces a devolved platform for identity verification that is beneficial to both the user and the business (using the details). The platform provides an open, secure, trustworthy and proven blockchain smart contract.
PROS
- Privacy is guaranteed. The entire identity holder’s information is stored securely with the identity holders themselves and as such privacy is assured.
- It saves businesses time and money. Any organization that needs a person’s verified identity has the liberty to use Velix.ID ecosystem thus saving time and money.
- The platform provides autonomy. The user consents to the agreement individually; there are no liaisons to confirm an agreement. The execution is automatically conducted by the system, as opposed to human beings who may be biased.
- Velix.ID utilizes Stellar Consensus Protocol (SCP) as the consensus algorithm. This algorithm gives the system decentralized control. No central authority decides whose approval is vital for consensus.
- Ii incorporates blockchain, a powerful technology capable of processing a huge number of transactions. This in turn greatly increases reliability besides eliminating business and political risks typical of centralized systems.
- The Team: The ecosystem enjoys the blessings of a large number of members of both genders. The members are highly qualified in various aspects if identity verification and blockchain.
- Whitepaper: Besides the whitepaper paper being comprehensive and hence addressing every aspect of the system, it is available in more than ten languages.
CONS
- While users who host the done are rewarded from the ecosystem PoET pool, the exact amount a person earns per minute is not given.
- Velix.ID has no affiliate program that has been found to widen the reach of a platform with a short time after its launch.
- The ecosystem’s tokens, called VXD tokens, are not compatible with fiat currency. This may slow down its adoption in areas where digital currency is yet to gain acceptance.
SUGGESTIONS
- The ecosystem to determine and specify the precise amount an individual earns per minute. This will motivate potential users to spend more hosting the nodes.
- The platform should incorporate an affiliate program to increase its adoption rate, particularly during the introductory stages.
- The platform should make VXD tokens compatible with fiat currencies. An appropriate exchange rate should also be availed.
