About VeloxCoin [VLX] Exchange

VeloxCoin[VLX]    future is very good. It will be one of the first row coins in a few days. The way it is going forward in the future, it is understood that it has good potential in the future.

Currently VeloxCoin [VLX] Exchange is trading very well. It will be one of the first row altcoins in a few days.

Overview

The VLX Exchange will provide a temporary, yet instant & safe way, to exchange VeloxCoin [VLX] with a number of pairs upon the launch of the Velox Project. This is to reach the initial 0.5% VLX distribution, to instantly offer a means of exchange for VeloxCoin [VLX] holders and to create an operational real-world environment for the future open-source version of the platform. The Velox Project has transformed the outdated & centralized WLOX open-source platform into a simple yet secure, fast & anonymous exclusively cryptocurrency exchange with absolutely no limitation for users all over the globe.

Infrastructure

The VLX Exchange is developed on the basis of the WLOX project codebase, an abandoned fiat/crypto open source exchange project created by Crypto Capital in 2014. The original source code has been stripped down, adjusted and re-developed by the Velox Development Team into an exclusively cryptocurrency exchange with the most up-to-date security mechanisms & protocols, a new fully anonymous user structure and an effective yet simple trading engine for VLX pairs.

The VLX Exchange consists of a complete security & backend upgrade from the WLOX code to maximize user security, incorporating the most up-to-date security standards, measures and protocols. All FIAT and banking related features have been completely removed from the VLX Exchange Platform.

The VLX Exchange has a dual purpose, initially it will act as a fully functional exchange during the first phase of launch, and once the VeloxBolt Platform is launched, it (VLX Exchange) will then become an open-source exchange project to allow new exchange platform owners access to a new, secure & revamped codebase as opposed to the outdated and abandoned WLOX project. This transition is further explained in “Future/Post-Transition Use”. 

VeloxBolt Transition

The transition from the VLX Exchange to VeloxBolt will be seamless and require little to no effort on the client end. Users of the VLX Exchange will automatically have their accounts migrated to the VeloxBolt platform on community-beta release prior to complete commencement. VLX Exchange users will be given two clear reminders prior to the transition one week and one day before the transition respectively. These reminders will be broadcasted via all Velox social and direct communication channels including:

All channels will be notified to ensure all users are aware of the upcoming transition.

During this one-week period, users will be requested to complete the following:

All VLX Exchange users will still be able to trade, deposit and withdraw up until the transition commences.

There will be a set time and countdown offered closer to the date.

Once the transition period has ended, all exchange functions will be deactivated on the Velox Exchange and all users, accounts and balances will be migrated across to the VeloxBolt platform. After confirmation from the development and security team that the migration has been successfully completed, users will be able login into the VeloxBolt platform with the same login information that they used for the VLX exchange. All users will then have full access to their accounts and admin functionality. Once the transition has been completed, The VLX Exchange domain will redirect to the VeloxBolt platform where a notice will be presented for users who were not aware of the transition notifying that their VLX Exchange credentials will still be accessible and trade history upon request, along with detailed information regarding the overall transition process that took place.

During the transition process all VLX Exchange functions will be disabled. The transition is expected to be completed in approx. 3 hours, however to ensure the transition takes place in the smoothest and most secure fashion possible, this expected time frame may be subject to slight delay.

Future/Post-Transition Use

The Velox Project will continually strive to strengthen the support for the decentralization & anonymity movement by offering utilities and services that do not require personal information to access and have very minimum central control. The WLOX Open-Source Exchange codebase, being the base coding of the VLX Exchange, was built and designed in 2014 by Crypto Capital as a centralized & institutional based infrastructure for FIAT to Crypto (and vice versa) use. As aforementioned, all FIAT and banking related

features were stripped away in the creation of the VLX Exchange code and customized to create a modern, cryptocurrency exclusive exchange platform.

The ultimate goal of making the VLX Exchange platform open-source, is to offer a modern cryptocurrency exchange codebase that will constantly be updated by an interested and vested community while being fully supported and semi-managed by the Velox Project Developers. The intent is to frequently update the source code with up-to-date security & functionality updates, to facilitate future new exchanges to benefit from the security and stability improvements of the infrastructure to ensure these new exchanges have minimal risk of exploitation and hacking.

After the complete transition of the VLX Exchange into the VeloxBolt platform, the Velox Development Team will prepare the VLX Exchange platform codebase for complete open source access to the whole community, with the Velox source code project available on Github. This will allow users, developers and potential/existing exchange owners to freely interact and improve the platform, solve issues and easily build new functionalities using a stable resource that has been tested extensively and operated in a real time user-based environment, and worked on recently in modern conditions. 

For more information and join RAcoin social media at this time please follow some sources for the following references:
Website:  https://veloxproject.io/

Whitepaper: https://veloxproject.io/downloads/Velox-Whitepaper.pdf

ANN thread: https://bitcointalk.org/index.php?topic=2431660.0

Telegram: https://t.me/veloxproject

Facebook: https://www.facebook.com/veloxcoin/

Twitter: https://twitter.com/velox_coin

Author: Foysal Hossain
Bitcointalk Username : bdfoysalhossain
Profil Bitcointalk : https://bitcointalk.org/index.php?action=profile;u=1861873