Velas is a decentralized blockchain project operating on a delegated proof of stake (dPoS) model, designed to leverage artificial intelligence to enhance its functionality. Based in Switzerland, Velas aims to create an advanced ecosystem for building AI-driven applications, decentralized applications (dApps), and smart contracts. The project was initiated by Alex Alexandrov, the CEO of a leading altcoin payment processor that has served millions of users since its inception. The transition from Coinpayments Coin to Velas (VLX) took place on July 4, 2019, marking a significant milestone in the project's journey toward independence. This event also initiated the first phase as outlined in the technical documentation, showcasing Velas's commitment to innovation and growth. Velas addresses critical challenges faced by existing blockchain technologies, including issues of centralization, susceptibility to 51% attacks, and scalability. By employing neural networks optimized through artificial intuition, Velas enhances its consensus algorithm, improving security and operational efficiency. The Velas ecosystem not only focuses on resolving current blockchain limitations but also aims to provide cost-effective solutions for developers and users. By minimizing high upfront expenses and maximizing security, Velas positions itself as a viable platform for future blockchain applications. In summary, Velas represents a forward-thinking approach to blockchain technology, combining AI capabilities with a robust architecture to foster a new wave of decentralized solutions.