V Systems
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V Systems

13th Weekly Report

New Project of Sunny King- Blockchain Database Cloud Platform VEE Launched Its White Paper 2.0

eptember 6, VEE has officially released the second version of White paper. Virtual Economy Era (ticker: VVV) is a blockchain database cloud project led by Sunny King. He is the creator of PoS consensus, and a legendary blockchain developer. VEE.tech aims to be the first fully decentralized cloud database with all function accessible, as well as an open source blockchain platform that enables developers to build DApp via public APIs. The general database feature allows developers to simplify data module design so that they just need to focus on business logic. The secured network supports both in-chain and cross-chain transactions for the ecosystem of applications. To achieve the scalability and security of the database, VEE.tech has created a new innovative consensus, Supernode Proof of Stake a.k.a. SPoS, regarded as the next generation of PoS.

For more information, check the official website and read the White paper now!

Development Updates

  • Internal Testnet has been systematically tested, resulting in well functionality and stable block generating speed.
  • An extra python library for quantity transaction has been developed.
  • Official Testnet will be open to all on Sept 12.

“The Creator of Proof-of-Stake Thinks He Finally Figured It Out”

eptember 7, one of the most influential blockchain media CoinDesk released its exclusive interview with Sunny King. In the interview, Sunny King shared the reason why he specifically decided to start VEE project and for the first time, introduced his latest innovation consensus, Supernode Proof of Stake (SPoS), the next generation of PoS, which was designed as one of the key solutions to industrialize blockchain technology.

“ I try to envision an era that blockchain is used widely in technology. Proof-of-stake consensus is especially designed for this purpose, to enable an era where millions or more blockchains can run independently with high level of security and basically no energy requirement. ”

Check the original report 👇👇👇

VEE debuted on the Founder World 2018 Blockchain Impact

eptember 8, VEE was invited to attend the Founder World 2018 Blockchain Impact. Founder World 2018: Blockchain Impact is the Bay Area’s largest, community-based public event dedicated to blockchain developers and early-stage founders. Thousands of founders, developers, community leaders, investors and aspiring entrepreneurs from Silicon Valley and around the globe gathered to engage with industry experts, network with potential partners and witnessed groundbreaking new companies that would define our future.

Wanli Yang, Community Core Developer of VEE, announced the launch of VEE blockchain database cloud platform in San Francisco palace, and released the new generation of consensus algorithm — SPoS.

Here are some details you may want to know about SPoS:

  • Supernodes take turns to generate block at fixed interval
  • Starting with 15 Supernodes and the total number of Supernodes can be increased to 30 and 60 depending on growth
  • Block interval is near constant with much more stable latency
  • 60 minting slots representing minting right at each second
  • Contend/Release mechanism for a fair market of minting competition
  • Minting Average Balance (MAB) to support better stake liquidity
  • Designed for high performance systems
  • Constant block interval to stabilize throughput capacity
  • Better security with cold minting
  • Encourages ecosystem to invest resource into upgrading supernodes, thus improving system performance

ATTENTION: we will have airdrop to developers @Mainnet launch around 17th Sep. Please stay tuned for latest news!

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V Systems is a general purpose blockchain database for decentralized applications. Led by Sunny King, the inventor of PoS, we aim to deliver scalable and durable decentralized database cloud technology with high finality, performance and the highest resistance to 51% attacks.

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V Systems

A blockchain platform that supports the efficient and agile development of decentralized applications. Visit our website at www.v.systems