The Issue and the Resolution

“Banks must be trusted to hold our money and transfer it electronically.
but they lend it out in waves of credit bubbles with barely a fraction in reserve.
We have to trust them with our privacy, trust them not to let identity theives drain our accounts.”

Satoshi Nakamoto

Crypto Currency exchanges in the current day and age have moved a long way from their original structure at the beginning phases of crypto currency.

What used to be a semi-anonymous and seamless process to trade between one crypto currency and another has become a heavily regulated and difficult process for users all over the world, arguably caused by adoption of crypto currency majorly by centralized institutions. The adoption by centralized institutions has forced exchanges to adopt the current fiat monetary structure that we most use in our day to day lives into crypto currency. Adopting this system which arguably discourages some of the core foundations of Satoshi’s vision, the freedom of money & anonymity. Over time this current direction of the crypto currency exchanges and platforms, has made the revival the core values of crypto currency, along with the ability to transact and exchange crypto currency without a regulatory party, a little less possible almost impossible.

This is where Velox changes the game.

The only solution to the unsettling reality that is becoming of crypto currency, is a collective, disruptive reboot of the whole system, with those who are dedicated to upholding the original structure and purpose of crypto currency in their own proposed way. Every day, new decentralized projects are established, joining this movement with a common goal of decentralization, anonymity and freedom.

The Velox Project, a group of like-minded individuals, have formed with this common goal and the core focus of decentralization & anonymity. The Velox Project will be focusing on these two very important aspects by creating a set of advanced, disruptive utilities and services that is open for anyone around the world to use with absolutely zero restriction and enhanced privacy.

These planned utilities and services will be thoroughly covered throughout this document and are listed in our project roadmap (see following page) which lists our completed (Q4 2017-Q1 2018) and ongoing targets we aim to accomplish. Our roadmap is updated every quarter, most recently being toward the end of Quarter One (Q1) of 2018.

What Is VeloxBolt/vNovum

The VeloxBolt Anonymous Cryptocurrency Exchange is one of the two vital component to achieve the Velox Project vision. The platform is a completely anonymous exchange open to users worldwide and is planned to be one of the most secure, responsive and advanced anonymous exchanges in operation. VeloxBolt will offer industry-grade trading facilities that will allow users to exchange hundreds of crypto currency pairs instantly with no limitations on trading, withdrawal, or deposits and absolute privacy with no private or personal information required to use the exchange, made possible by ZeroNet technology. The VeloxBolt platform will launch as a completely anonymous cryptocurrency exchange with planned future developments to introduce decentralized exchange facilities for Bitcoin, Ethereum (and others based on demand) pairs as well as instant swap services.

This means NO identification asked at any time, NO withdrawal limits and NO intrusion of your privacy.

The vNovum Wallet is a native open-source cryptocurrency wallet that will facilitate multiple forms of cryptocurrency exchange, including the use of the VeloxBolt exchange services, and its own decentralized (P2P) exchange. The wallet does not share financial information such as private keys with any third party or online server and houses a wide range of security features, making it one of the most secure solutions for cryptocurrency storage.

The vNovum wallet will be the first wallet of its kind to be accompanied by a completely anonymous online exchange and will allow fully synchronized accessibility.

vBolt - Revolutionizing Decentralized & High-Frequency Trading.

What is the Velox Token [VLX]

VeloxCoin is an ERC-20 compliant token that has been created as a share structured currency for the upcoming VeloxBolt decentralized & anonymous exchange and trading platform. VLX can be minted, transacted and traded to serve the purpose as a share-based token for the VeloxBolt decentralized exchange platform. Holders of VLX are awarded with 13% minting APR until the platform release, after which holders will be instead rewarded with VLX buy-backs each quarter from the VeloxBolt platform & vNovum wallet profit.

VeloxCoin originally launched using Proof-of-Work during the first 10,000 blocks, after which it converted to a completely Proof-of-Stake algorithm up until September 2018. As of this date, VeloxCoin [VLX] successfully swapped to Velox Token, an ERC-20 compliant token & smart contract, in preparation of the VeloxBolt release.

Until VeloxBolt is officially released to the public, exchanges will list VLX against BTC and Ethereum. This will be no more than a temporary solution where users can trade VLX in liquid markets until the establishment of vBolt. More information about exchanges and the Velox Token can be found in our updated project whitepaper as of October 2018.