V SYSTEMS smart contract and token publish function enter final testing stagerevealed in HKUST Blockchain Meetup
It’s been an exciting few weeks here at V SYSTEMS. Just the end of last month we partnered with one of the world’s top exchanges ZB and its affiliated exchanges BW and ZBG for their first LaunchPad program. Over 300,000 users were online to get a hold of VSYS Coin, and the transaction volume soared following the listing on the three exchanges the day after the program, reaching around US $14 million every hour.
Last week, our CEO, Dr. Alex Yang, was invited to speak to over 200 blockchain and mathematics researchers, students and faculty members at a Blockchain & Finance meetup in the Hong Kong University of Science and Technology (HKUST). The school is a world renowned university, with its Executive MBA program ranked at no.1 in the world by the Financial Times for nine years (2007, 2009, 2010, 2011, 2012, 2013, 2016, 2017 and 2018). During the meetup, Alex not only talked about the current state of blockchain, but also revealed some new features of V SYSTEMS.
Smart contract and token publish functionality revealed
Breaking down the V SYSTEMS project, Alex talked about the world’s first general purpose blockchain database and modular design to reduce entry barrier. He also highlighted the upcoming smart contract functionality created by our pioneering data-oriented programming language. Set to release in Q2 this year, the smart contract will be able to seamlessly integrate into future V SYSTEMS’ databases.
On top of that, Alex also revealed that a token publish functionality for the V SYSTEMS wallet will be included in the next release. Not only is it designed to be quick and easy with only a few clicks to finish the process, more importantly it brings a split / reverse split function to the token. This is a crucial function in light of the growing popularity for security token, as it further strengthens the resemblance between a blockchain token and traditional financial securities.
Blockchain industry is mirroring financial markets
While addressing the current state of blockchain, Alex talked about how, since the creation of Bitcoin, the token and the blockchain world has shown many similarities to Wall Street and financial markets around the world. Take ICO for example — an obvious doppelganger of IPO, has surpassed over US $22 billion of funding in October 2018. The growth of STO is set to follow the trend and it’s just another proof of how the world is merging traditional financial markets and blockchain technology.
However, there is still something lacking to truly complete the merge. Alex explained that blockchain industry lacks the necessary infrastructure to prove its ability to match the extremely high standard for security and preciseness seen in the financial market. The technical barrier remains very high and there is yet to be an easy-to-use basic infrastructure for developers to easily build blockchain and integrate into current systems. And so far no blockchain has been proven able to bring a sufficiently high level of stability and scalability to allow a large scale adoption.
A stable infrastructure is what the financial industry is searching for
Witnessing the growing interest in security token, we anticipate that, once a stable blockchain infrastructure is made available, the financial industry will turn to embrace the technology with open arms. This is why at V SYSTEMS, we are striving towards a high level of stability and scalability.
The core innovation of V SYSTEMS comes down to the Supernode Proof of Stake (SPoS) consensus mechanism designed by Sunny King, who previously created Proof of Stake (PoS) for Peercoin back in 2012. We’ve previously covered SPoS in our blog, but the gist is that it allows V SYSTEMS public chain to support the industrial level TPS seen in the financial market because of its design. We’re certainly excited to see how SPoS will be put in actual business field soon in the future.
About V SYSTEMS
V SYSTEMS is a native blockchain database and decentralized app platform that aims to create a brand new digital economy era. The project is led by chief architect, Sunny King, the legendary blockchain developer and creator of Proof of Stake (PoS), who initiated the first PoS project with Peercoin and was also the creator of Primecoin.
V SYSTEMS’ mission is to create a future economy built upon millions of blockchains. To fulfill this mission, V SYSTEMS creates a scalable and stable infrastructure that brings a healthy blockchain ecosystem based on the next evolution of PoS, Supernode Proof of Stake (SPoS). V SYSTEMS aims to materialize the vision by building an innovative database cloud to make blockchain development swift and easy.
The mainnet and supernodes of V SYSTEMS have been operating since Q4 2018. The performance has been proven stable with industrial level TPS.
Project Name: V SYSTEMS
Official Website: https://www.v.systems
Project Introduction documents: https://v.systems/whitepaper.html
Learn how to participant supernode minting : https://v.systems/supernode.html
About VSYS Coin
V SYSTEMS’s cryptocurrency exchange ticker: VSYS
VSYS Coin lists on exchanges: https://v.systems/start.html
VSYS Coin on coinmarketcap page: https://coinmarketcap.com/currencies/v-systems/
Short Summary for VSYS Coin:
5,142,858,000 VSYS Coins (genesis block) Annual inflation rate around 5%, issued through supernode minting. VSYS Coins will be burnt during transaction, deflation may occur as a result.
VSYS coins are the cryptocurrency on V SYSTEMS blockchain.
About the V SYSTEMS Team
Architect: Sunny King
Sunny King, a legendary blockchain developer, is the inventor of Proof-of-Stake consensus mechanism and creator of three cryptocurrencies/blockchain projects, including V SYSTEMS, Peercoin and Primecoin. Each project brings important advancements to blockchain technology and its community.
Sunny King Wiki:
Sunny King Twitter:
Sunny King’s statement on the V SYSTEMS public chain:
Core Developer Team Introduction:
The core developer team are experts from ex-Oracle,VMware,Google, Uber, and more other silicon valley tech companies. The leading developer team are all world’s top database scientists and mathematicians.
Social Medias of V SYSTEMS
VSYS Talk: http://talk.v.systems
VSYS Twitter: https://twitter.com/VSYSCoin
Sunny King Twitter: https://twitter.com/sunnyking9999