V Systems
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V Systems

Weekly Report — 1st Week of July 2020

In this weekly report (1st Week of July 2020): Fermat release of VSYS contracts has been thoroughly tested and deploying onto the Mainnet. The activation height for new contract functionality has been set to the block height of 13,140,520. Bithumb now supports VSYS staking service. NEOPLY has joined V Systems as a supernode. Please read the full report below.

1. VSYS Blockchain Development

Mainnet Development

Fermat release of VSYS contracts has been thoroughly tested and deploying onto the Mainnet. The activation height for new contract functionality has been set to the block height of 13,140,520. The block height is 12,533,000 at the time of writing. The activation height should be reached on roughly 31st July 2020. After this new types of contracts will be enabled, the payment channel contract, non fungible contract and the lock contract.

This update serves as a step towards supporting more complex interactions between users of blockchains beyond traditional payments. The payment channel makes micro-transactions (very small payment amounts), or very high frequency transactions possible. While non fungible contracts can represent ownership of non-digital assets. Lock contracts can provide proof of ownership for a certain amount of funds of the duration of the lock.

A contract allowing atomic swaps is also being developed, cross-chain swaps, or VSYS to token swaps will be possible.

Utility Development

The development of V Javascript version SDK for Fermat contract support is done and published to NPM. Python version SDK is developing Fermat contract support. Other programming language version SDK support for new contract are being planned.

V web wallet the feature of deposit/withdraw token and v coin to/from contract is developed and currently under internal test. Once done, the new version will deploy to Testnet web wallet.

The V Cloud service is getting ready to release, providing organisations with an extremely easy way of integrating with the VSYS Blockchain. Blockchain user who wish to quickly and easily set up a blockchain system with pre-built applications can do so using this service.

In V Could development, the Golang version event parser has been developed. The other features in new platform is under development.

More Node Monitor Tool is discussing and researching.After development completed, they will open to public use in the future.

2. Global Community Updates

Fermat Mainnet Launch

VSYS version 0.3.1 has been released, which will support new features of Fermat Smart Contract, mainly focus on lock contract, payment channel contract and non-fungible token contract. It is anticipated that the new features will be activated by the end of July.

Bithumb Launches VSYS Staking Service

Bithumb, a top cryptocurrency exchange in South Korea has officially launched VSYS staking service. As Fermat Smart Contracts will be released soon, we will co-host 2 staking events that last for two months for all Bithumb users to earn additional rewards.

Please check the official announcement for more details:

NEOPLY Joins V Systems as a Supernode

NEOPLY, a top Korea-based startup accelerator and node operator, has joined V Systems as one of the supernodes.With a strong track record, the NEOPLY team will further leverage its network to increase the influence of V Systems, aiming to support the technical development of VSYS and accelerate the growth of ecosystems.

3. Market Overview

Market Cap

VSYS is now ranked at #104 on CoinMarketCap, with a market cap of over US$50 million.

Screenshot from CoinMarketCap on 3 July 2020

Staking Rewards

This week, VSYS has gained an overall StakingRewards Score of 68.12% on stakingrewards.com. We promise to maintain a healthy staking environment for all token users. With VSYS coins, you can easily enjoy the rewards from staking with just a few clicks. Take action now!

Screenshot from stakingrewards.com on 3 July 2020

Stay Connected

Remember to follow us on the platforms below to stay up-to-date with our latest updates and announcements.

Official Forum: https://forum.v.systems/
Twitter: https://twitter.com/VSYSCoin
YouTube: shorturl.at/mxX09
Github: https://github.com/virtualeconomy/v-systems

Other Useful Links

VSYS Official Website: https://www.v.systems
Supernode Ranklist: https://vsysrate.com/
VSYS Blockchain Explorer: https://explorer.v.systems



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