Vast is initiated by the Singapore-based foundation, Profund, with a core technical team that has over seven years of experience in the U.S blockchain industry, including mature public chain and DAPP development expertise. Vast is dedicated to building a foundational underlying public chain for decentralized application ecosystems. Its consensus mechanism employs the Vpos system, aimed at assisting businesses and individuals in setting up smart contracts for Defi and blockchain reform ecosystems, enabling customized contracts, and providing unique identifiers for assets that comply with standardized naming conventions.