In this weekly report (1st Week of May 2020): Happy Labor Day 2020! In the report, we highlight the non-fungible contract and its technical implementation. Huobi Indonesia has launched the VSYS/USDT trading pair. VSYS has entered the top 5 popular assets available for staking on centralized exchanges according to ICO Analytics. Please read the full report below.
1. VSYS Blockchain Development
Mainnet Development
Key functions for VSYS smart contracts are entering its final testing stages and will be ready for the next release. The focus is to extend smart contract functionality and usages for both VSYS and tokens.
A non fungible contract feature, the non fungible contract will contain an undividable token. The token’s ownership can then be transferred freely, closely mimicking a traditional product.
A lock contract feature based on the deposit & withdraw function, users will be able to store VSYS or tokens on these contracts and lock these assets for some period of time.
The V Systems payment channel, the payment channel is a smart contract that can store VSYS or tokens, allowing users to keep a majority of payment transactions off-chain. This can potentially save a large amount of transaction fees for users who deal with a lot of transactions between the same parties.
Utils Development
New version of the web wallet is released on testnet. The new version fixed some known bugs and improved user interface. Users can experience a new version of the web wallet via the link below.
The V Cloud service is getting ready to release, providing organisations with an extremely easy way of integrating with the VSYS Blockchain. Blockchain users 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 development of V full node service is ready. The next stage function and new platform are under research and development.
More Node Monitor Tool is discussing and researching.After development is completed, they will open to public use in the future.
Integration with General Bytes (a cryptocurrency ATM) is currently in development
2. Introducing VSYS 2.0: Non-Fungible Contract
The non-fungible contract is used to create non-fungible tokens on the V Systems blockchain. Each non-fungible token represents something unique and non-divisible. The most distinguishing feature of the non-fungible contract is that max and unit of a non-fungible token is always 1. When a non-fungible token contract is initialized, its constant is set to be zero. After a non-fungible token has been issued it begins to exist, its supply then permanently fixed to 1. This ensures the stability and security of every operation you do in the contract, as well as ensuring that the token is provably unique.
Use Cases: Non-fungible tokens are used to create verifiably unique digital items, and prove their ownership. Non-fungible tokens allow unique assets to be used seamlessly across multiple games or applications including coupon systems.
3. Global Community Updates
Huobi Indonesia Launch VSYS/USDT Trading Pair
Huobi Indonesia has launched the VSYS/USDT trading pair on April 28 2020 14:00 UTC+7.
Most Popular Assets Available For Staking on Centralized Exchanges
According to ICO Analytics, VSYS is one of the top 5 popular assets available for staking on centralized exchanges. VSYS staking is now available on Bitfinex, Hotbit, Huobi Pool, Kucoin, MXC and OKEx.
Tachyon VPN is Officially Released on Samsung Galaxy Store
Tachyon VPN has officially been released on Samsung Galaxy Store! Considering the global coverage of Samsung devices, this will greatly help Tachyon VPN to reach more global users! Click through the link below to download and try it now!
4. Market Overview
Market Cap
VSYS is now ranked at #87 on CoinMarketCap, with a market cap of over US$51 million.
Staking Rewards
This week, VSYS has gained an overall StakingRewards Score of 66.91% 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!
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
Telegram:https://t.me/VSYSOfficialGroup
Medium:https://medium.com/vsystems
YouTube: shorturl.at/mxX09
Reddit:https://www.reddit.com/r/V_SYSTEMS/
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
