V Power Community AMA
The VSYS team participated in an Ask Me Anything interview hosted by our supernode V Power on September 29. More than 1000 community members participated.
V Power Community AMA Summary
- Focusing on database and cloud services, V SYSTEMS strives to create a new digital economy to achieve blockchain mass adoption.
- The first project Tachyon has been announced lately. More partnerships and DeFi projects powered by V SYSTEMS will gradually shore up the ecosystem following the official launch of Euclid 1.0.
- Sunny King will be unveiled at The Capital by Coinmarketcap in Singapore held in November, where three highlight DApp projects will also be released.
Question 1: Can you briefly introduce V SYSTEMS to the V Power community?
V SYSTEMS is a blockchain infrastructure with a focus on database and cloud services, which aims to create a blockchain development platform for DeFi applications.
Putting an emphasis on “stake as power”, the V SYSTEMS blockchain has implemented Sunny King’s new innovative consensus algorithm — Supernode Proof of Stake. V SYSTEMS aims to deliver decentralized database cloud technology that is scalable and durable, with high finality, performance and the highest resistance to 51% attacks.
Our ultimate goal is to create a new digital economy that allows everyone to participate in blockchain development.
Question 2: What has V SYSTEMS achieved since the launch of mainnet in November 2018?
In less than a year, VSYS coin has been been made available on around 20 top exchanges including Bitfinex, ZB and OKex. Currently, we are ranked #37 on CoinMarketCap. According to Staking Rewards and Staked.us, the total staking value of VSYS is one of the top five in the world.
V SYSTEMS has also made a series of announcements with multiple partnerships and projects in development or reaching phases of completion. We have also gained extensive press coverage on topnotch media outlets, such as Forbes, CryptoBriefing, Coindesk and Cointelegraph.
Our team is delighted to receive a lot of attention and recognition from credible and reputable validators, organizations, companies, communities and media in the market.
Question 3: What is V SYSTEMS’ current status and how does V SYSTEMS achieve its goals progressively?
As mentioned, our ultimate goal is to create a new digital economy that allows everyone to participate in blockchain development. To achieve this, we have planned three phases for overall V SYSTEMS development.
Phase 1 — Create a blockchain infrastructure that can support efficient and agile development of a vast variety of applications, and is backed by a consensus model that is sustainable and secure to use.
Phase 2 — Release user-friendly smart contracts as well as development platforms and tools that are easy to use by general developers.
Phase 3 — Release blockchain database and develop a robust ecosystem with a vast variety of applications that can be used by ordinary people.
We are very glad that the team has completed the first phase of the mission in less than a year, and we will keep working hard step by step to achieve our ultimate goal together with our partners and community members.
Question 4: What is the development status of VSYS Smart Contract — Euclid?
The first version of Euclid is ready to go live soon! It will include some basic functions to allow users to create their own tokens and define its uses. The team conducting research on new smart contract features, and will be announced in the near future.
Question 5: What are some key features and benefits of staking on V SYSTEMS?
Consensus mechanism is the core element of a blockchain network. SPoS is well-validated in terms of stability, performance, scalability, and security, which is designed with the “stake as power” principals and token economy balance, that greatly outweigh the existing PoW, PoS and DPoS models.
According to the data illustrated by Staking Rewards and Staked.us, the total staking value of VSYS is ranked one of the top five in the world. Also, the annualized income is also relatively stable and high (remains at around 15%) when comparing to other cryptocurrencies. V SYSTEMS also actively partners with top exchanges and community partners to make staking easier and more accessible to VSYS coin holders.
Question 6: What is V SYSTEMS’ focus on its ecosystem development? Can you tell us more about Tachyon Protocol?
Realizing the huge potential of financial use cases in blockchain, V SYSTEMS has put a primary focus on DeFi in its ecosystem development. We pledge to reshape traditional finance, and give blockchain an additional much needed utility.
X-VPN, one of the world’s largest VPN service providers and the world’s top 20 mobile app by Apple and Google, has joined forces with V SYSTEMS to revamp the current TCP/IP protocol with blockchain technology to build the next-generation internet protocol based on a decentralized network. Our first project Tachyon will leverage X-VPN’s 50 million existing global users to become the world’s leading decentralized internet platform. Its IPX token will begin listing on exchanges later this year. Tachyon VPN Beta will go live in 2020, with implementation on the V SYSTEMS DeFi ecosystem expected by the third quarter of 2020.
Question 7: Is there anything that the VSYS community can look forward to in the upcoming months?
For community development, we will announce more strategic partnerships with top exchanges. staking partners as well as blockchain communities around the world. In terms of ecological development, we will announce more DeFi applications jointly developed with some leading Internet companies and traditional listed companies.
It is worth mentioning that V SYSTEMS will be the diamond sponsor of the Capital Conference organized by Coinmarketcap on November 12–13, where our Chief Architect, Sunny King, will share the stage with Brandon Chez, the CEO and founder of CoinMarketCap. In addition, the V SYSTEMS team will also be very likely to announce three highlight projects powered. Please stay tuned!
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