Virium Tokens
Blockchain-powered governance and reward mechanism
VDAO Token – A Security
The Virium DAO Token represents the ownership and governance mechanism of the Virium ecosystem. It is a digital asset that grants its holders voting rights and influence over the project’s direction.
Holding a Virium DAO Token means having a stake in a community-driven enterprise, where each token serves as a vote in a decision-making process.
Virium Credit – The Currency
Virium Credit token is the currency minted based on energy created within the Virium ecosystem, effectively monetizing the act of energy generation.
As a reflection of real-world contribution, Virium Credit token is not just another cryptocurrency; it is a measure of sustainable action, fostering a better future with every watt produced.
Good to know:
1. Blockchain
Blockchain is a digital ledger technology where transactions are recorded in a secure, transparent, and immutable way.
Imagine it as a chain of blocks, where each block contains a number of transactions. Once a block is filled with transactions, it’s added to the chain in a way that is permanent and can’t be altered. This makes it highly secure and trustworthy.
Digital currencies, like Bitcoin, use blockchain to record transactions, providing a decentralized and secure method for value exchange over the internet. Tokens are digital currencies in more advanced, programmable blockchains such as Ethereum.
2. Smart Contracts
Smart contracts are self-executing contracts on blockchain. Terms of the agreement are directly written into lines of code. They exist on a programmable blockchain network and automatically enforce and execute the terms of a contract when predetermined conditions are met.
This eliminates the need for intermediaries, reducing time and cost, and increases trust and transparency, as the contract is visible and unchangeable once deployed on the blockchain.
3. Tokens
ERC-tokens are a type of digital asset that are built on and utilize the Ethereum or similar blockchain, one of the most popular platforms for creating smart contract based tokens.
ERC-standards provide standard sets of rules and functionalities that these tokens must follow, ensuring compatibility with other services and applications in the same blockchain.
This standardization allows for seamless integration and interaction between different tokens and apps within the Ethereum-based ecosystem, making it easier to trade, manage, and use various digital assets.
4. DAO
Decentralized Autonomous Organizations (DAOs) are community-led entities governed by their members through a blockchain. Think of them as digital cooperatives or collectives, where decisions are made democratically.
Members of a DAO use tokens to vote on proposals. Often smart contracts on the blockchain automate the execution of decisions, ensuring they are carried out exactly as voted on, with transparency and without the need for a central administrator.
This structure allows for a decentralized, democratic approach to organization management, where every member has a say in its operations and future direction.