In this weekly report (4th Week of April 2020): Some key functions of VSYS 2.0 smart contracts are entering the final testing stage. We are introducing the lock contract functions and its technical implementation in this report. Tachyon VPN has reached 100,000 global active users.The Tachyon Protocol team is hosting a series of events including the Tachyon Blaze Event and Ambassador Program. 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 https://test.v.systems.
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: Lock Contract
Some key functions of VSYS 2.0 smart contracts are entering the final testing stage. From this week onwards, we will highlight one of the special features and introduce its technical implementation.
Asset locking is a useful feature in blockchain systems and can be used as a proof of digital property. In VSYS 2.0, lock contract serves as a tool to lock funds for a user-defined period of time before they can be retrieved.
In the lock contract, there is a ‘lock’ function, which can be called directly and records/updates a lock time for each address.
Use Case Scenario: Alice deposits her VSYS coin or tokens to a lock contract on the chain. Using the `lock` function, she submits an unlock timestamp. Once this timestamp is set, she can only withdraw her VSYS coin or tokens after the unlock timestamp. Before the unlock timestamp, only the deposit trigger can be called from the token contract. Before the unlock timestamp, the lock contract only accepts deposits.
In the upcoming weekly reports, we will introduce other new smart contract features, including NFT and the construction of payment channels.
3. Global Community Updates
Tachyon VPN Has Reached 100,000 Users
Tachyon VPN has reached over 100,000 global active users. Download Tachyon VPN now and join the community!
➤ Try Tachyon VPN on App Store:
➤ Try Tachyon VPN on Google Play:
Tachyon Blaze Event and Ambassador Program
To celebrate Tachyon VPN has reached over 100,000 global users, the Tachyon Protocol team has launched a series of events to celebrate this milestone including Tachyon Blaze Event and Ambassador Program. Check the event details now and start earning IPX rewards!
Staking 2.0: Scaling the VSYS Ecosystem
It’s been a few months since we first introduced Staking 2.0. This new mechanism and staking approach is bringing us closer to the wider ecosystem. Let’s examine how it works in Tachyon Protocol (IPX) in order to drive adoption and promote community growth.
4. Market Overview
Market Cap
VSYS is now ranked at #83 on CoinMarketCap, with a market cap of over US$47 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
