Weekly Report — 3rd Week of May 2020
In this weekly report (3rd Week of May 2020): The next version of V Systems (VSYS 2.0) will include some vital updates. In the report, we explained the naming of our coming smart contracts. VSYS staking is now available on Huobi Pool. Please read the full report below.
1. VSYS Blockchain Development
The next version of V Systems (VSYS 2.0) will include some vital updates to allow more applications to VSYS and its tokens. Extensions to the functionality of VSYS smart contracts will be made in the next release.
A key update will be the VSYS payment channel. This gives users the ability to create channels with others and utilise them to do instant transactions. These transactions can be done completely offline and do not require trust, so individuals can transfer funds to one another without the need to pay transaction fees. The funds can then be collected later once the amount has accumulated sufficiently. This opens up numerous possibilities for blockchain payments on VSYS, daily transactions, payments to service providers, community currency transactions, and many more applications.
Together with a non fungible contract feature, which contains a single undividable token. This contract’s purpose is to mimic the transfer of ownership of a physical asset. The ownership of the token can become the proof of ownership of an asset it represents, and will be impossible to dispute.
The lock contract feature allows users to store VSYS or its tokens within the contract and guarantee that the user cannot transfer these funds within a certain period of time. The locked funds will be verifiable, and can act as proof that the user will own this number of funds at the end of the time period.
V web wallet is developing new contract support. In new version, user can deposit/withdraw token and v coin to/from contract.
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 new platform related functions are under developing. The new version of origin platform is running on testnet.
More Node Monitor Tool is discussing and researching.After development completed, they will open to public use in the future.
2. Introducing VSYS 2.0: Naming of the Smart Contracts
With Euclid smart contract, users are able to create their own tokens and define its uses. However, our project does not stop at tokenization — we are very excited to announce the name of our 2nd version of smart contract, to which we have termed Fermat, named after the French mathematician who is often called the founder of the modern theory of numbers. This echoes our strong belief in the power of mathematics. We trust that only through a mathematical approach can we grant the upcoming smart contract a versatile yet highly secure design.
3. Global Community Updates
Huobi Supports VSYS Staking
VSYS staking is now available on Huobi Pool. Click below to read the complete guide on how to lock and mine VSYS on Huobi Pool to get HPT rewards.
[Tutorial] How To Mine VSYS on Huobi Pool to get HPT rewards? Read to find out!
Join Huobi to stake VSYS today!
Happy 1st Anniversary to Bithumb Global
On 14th May 2019 Bithumb Global started its journey, and VSYS Coin is now listed on the platform for 267 days. We are very proud and thankful to work closely with the team. Congratulations to the whole BG team!
4. Market Overview
VSYS is now ranked at #97 on CoinMarketCap, with a market cap of over US$46 million.
This week, VSYS has gained an overall StakingRewards Score of 66.70% 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!
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/
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