On the 19th April, 2021 the Velas Blockchain announced its migration and upgrade to Velas 3.0, which meant

• Integrating the Solana based space of Velas 2.0 based on eBPF programs also called the “Solana Stack”
• EVM space support based on the Ethereum Virtual Machine.

The Velas 3.0 came with a lot of changes which are as follows as they are stated in our previos medium articles.

• Artificial Intelligence Decentralised Proof of stake consensus (AIDPOS)
• P2P Communication layer
• Block/ transaction processing and validation unit
• Smart Contracts
  
  To explain all this we see CPO and Co-founder of Velas, Andrey Stehno in a 2 minute short video clip explains about the new update brought to the ecosystem.

In his words, Velas is a ledger that supports both EVM on Etghereum as well as Solana. This mean any decentralised app (Dapp) built on Ethereum can easily work on Velas and faster. Using communication between nodes by Solana makes ethereum apps even faster. With this upgrade you can esasily swap ERC20 tokens on Velas to Solana without requiring extra fees.

In an article by Velas Official on medium, “These developments help solidify Velas as an industry-leading project with a truly forward-facing vision. By expanding our progress to fork Solana, add support for Ethereum Virtual Machines, and move into an open source framework, Velas is the number one place to turn to for a wider range of crypto services than ever before.”

Read the full article here: https://medium.com/velasblockchain/velas-leverages-solana-codebase-to-become-one-of-the-fastest-blockchains-in-the-industry-8eb6baaa06db