Velas, the world’s first blockchain to run on Artificial Intuition, has announced the development of their wallets for the VLX cryptocurrency.

This is a highly significant milestone as it now allows users to store their finances in a secure environment, filled with a plethora of features. What makes these wallets so sturdy and unique is that they allow for uninterrupted block formations and increased fault tolerance – two elements that separate Velas from the rest of its competition.

Speaking at the release of the Velas wallets, CEO Alex Alexandrov commented,

“We are excited to launch our Velas pre-alpha mainnet blockchain powered by artificial intuition. And now we’ve made our desktop and web wallets available, along with staking for network contributors who are looking to set up a masternode.”

Types of wallets

Velas has developed a web wallet, a desktop wallet, and a node-staking wallet. From the outset, it becomes apparent just how much variety they are offering clients and enthusiasts. By giving people the choice of three separate wallets, Velas is providing the opportunity for users to be flexible with how they treat their VLX tokens and by extension their own finances.

The Web Wallet

The web wallet is a simple to use yet feature-rich tool that lets users create separate wallets via mnemonics (a standard in the crypto world). However, unlike other wallets on the market, users’ passwords will be stored via an RSA-256-CBC algorithm.

CBC (or Cipher Block Chaining) is a highly advanced form of encryption where each block of data will only decrypt when every block before it has been decrypted. This makes hacking into accounts virtually impossible as somebody would manually need to decrypt each data block to open a wallet. However, if people are still skeptical and wary of malicious operators, then the web wallet also supports two-factor authentication.