Weekly Report 2019 June #4
1. VSYS Blockchain Development
Developments of VSYS continue to focus on deploying smart contract support. Smart contracts allow users to write code that is stored on the blockchain which will be executed upon some predefined condition.
Smart contract implementation is currently being tested, the security of various possible applications of smart contracts will be ensured.
Tests on advanced token features based on smart contracts has started this week.
Ledger wallet support finalising, code review has begun. The Ledger wallet hardware will allow V coin users to store their coins in an extremely secure fashion. The wallet will still allow users to easily monitor and send their coins stored in this way.
Currently reviewing code of the advanced token feature, wallet features are finalising, small bug fixes and improvements being made.
Token feature is being tested extensively in the testnet explorer. Faucet feature has been added, allowing testnet users to get test coins as they wish to administer some tests.
Node monitor client is under review, small bug fixes and improvements have been implemented.
Test & debug:
Token feature integrated into testnet on VSYS explorer, tests are continuously being performed on this feature.
Continued stress testing smart contract transactions.
Maintenance & Operations:
Regular operations and maintenance: Continued technical support for VSYS Supernodes.
2. Global Community
With a market cap of over US$270M, VSYS is now ranked #35 and #38 among major cryptocurrencies on CoinMarketCap and Coingecko respectively. VSYS price up around 20% over the last week while its daily trading volume reached approximately US$15M.
V SYSTEMS is actively developing our community in Korea by attracting more partners for DiFi application development and working together with local exchanges, staking service providers, wallets and media agencies. We garnered extensive media coverage in Korea last week:
Huobi Pool officially became one of the supernodes on the VSYS mainnet
4. Developer Community
A few Blockchain-as-a-Service (BaaS) companies reached out to our team for potential cooperation. The integration will lay a foundation for the mass adoption of V SYSTEMS blockchain technology.
We are actively expanding our developer community worldwide. If you want to work more closely with our team and build your applications on V SYSTEMS blockchain, you can send our developer relations team an email at firstname.lastname@example.org.
5. Team and Partners
Paul Brown has officially joined the V SYSTEMS team as DeFi Advisor. Paul has over 30 years of executive and management experience in the banking and capital markets. His extensive knowledge and network will help create new connections and opportunities for the strategic development of DeFi ecosystem.
Paul Brown正式成為V SYSTEMS團隊的DeFi諮詢顧問。Paul於銀行及資本市場擁有逾三十年豐富的行政及管理經驗，他的加入將有利協助V SYSTEMS戰略佈局DeFi生態網絡。
About V SYSTEMS
In 2016, Sunny King, the inventor of Proof of Stake (PoS) consensus mechanism, gathered a team of the world’s top database scientists and mathematics encryption experts to start the project V SYSTEMS. Through the innovating consensus algorithm and decentralized database cloud platform, the project aims to address the core issues circulating the current blockchain industry — scalability and usage threshold.
By maturing the PoS technology, Sunny King created an elevated version of the consensus algorithm based on supernodes — Supernode Proof of Stake (SPoS). Not only does SPoS inherit the advantages on security and scalability of PoS, but it also brings significant improvements to the shortcomings of PoS, thus making it a highly efficient, stable and secure bottom layer for blockchain.
The major highlight for V SYSTEMS is the world’s first Common Type System blockchain database. Using an object-oriented manner for storage, the database gives high-concurrency, efficient indexing and many more advantages to various blockchain data use cases. It can also support industrial-scale decentralized applications, a key trend ahead of blockchain.
Another key aspect of V SYSTEMS is a development cloud platform equipped with a modular system. With a simple and intuitive design similar to a development engine, V SYSTEMS makes blockchain development as easy and fast as building blocks, thus lowering the entry barrier for companies to develop the blockchain.
The application of V SYSTEMS’s DApps platform including smart contract applications, sidechain applications, and cross-chain applications will focus on mainstream industries such as the finance sector.
Circulating the various innovations of V SYSTEMS is the native token VSYS Coin. The annual amount of additional issuance is fixed at a rate of 5%, and the rate is decreasing every year. The transaction cost destruction model of PoS is also adopted, granting a balanced and healthy economy. More importantly, the design of SPoS allows all coin holders to lease their coin stake to a supernode, and participate in the block production process to get rewards. This significantly improves V SYSTEMS’ immunity against 51% attacks.
The V SYSTEMS mainnet was launched on November 27th, 2018. To achieve a brand new era of the virtual economy, the development team is currently working on tech updates for 2019 and 2020 such as smart contract, blockchain database platform, sidechain and cross-chain in 2019–2020.
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’ 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:
VSYS coins are the cryptocurrency on V SYSTEMS blockchain.
The genesis block produced 5,142,858,000 VSYS Coins, then annually produces a fixed around 283,824,000 VSYS Coins, issued through supernode minting, with a inflation rate around 5% which decreases every year.
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 members 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