V Systems
Published in

V Systems

Weekly Report — 4th Week of July 2020

In this weekly report (4th Week of July 2020): Fermat’s release of VSYS contracts has been thoroughly tested and deployed onto the Mainnet, the new functionalities are estimated to be activated by the end of July. Towards Data Science has featured VSYS Portal Payment Channel. Forbes has featured Tachyon Protocol as one of the most promising blockchain solutions. Please read the full report below.

1. VSYS Blockchain Development

Mainnet Development

Fermat’s release of VSYS contracts has been thoroughly tested and deployed 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 12,989,459 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

V web wallet the feature of deposit/withdraw token and v coin to/from contract is developed and currently deployed to Testnet web wallet http://test.v.systems . Once completed tested with any issue found, the new version will deploy to Mainnet web wallet as well.

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 relevant modules of the V-Cloud new version of the VM supplier have been almost developed and have been integrated into the new V Cloud Marketplace platform for testing.

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.

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

2. Global Community Updates

VSYS Payment Channel Catches Developers’ Eyeballs on Towards Data Science

The Portal Payment Channel smart contract to be released by V Systems has attracted the attention of developers. Towards Data Science is a well-known medium blog focusing on publishing related blogs and KOL views. A recent article on smart contract applications mentions VSYS Payment Channel which helps making payments on blockchain faster and easier. Please read the following article for details.

Forbes Features Tachyon Protocol

Tachyon Protocol has been recognized as a better blockchain solution to reach sufficient security in Forbes article.

3. Market Overview

Market Cap

VSYS is now ranked at #120 on CoinMarketCap, with a market cap of over US$56 million.

Screenshot from CoinMarketCap on 24 July 2020

Staking Rewards

This week, VSYS has gained an overall StakingRewards Score of 65.79% 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 24 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.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
V Systems

A blockchain platform that supports the efficient and agile development of decentralized applications. Visit our website at www.v.systems