V SYSTEMS — four pillars to build a new blockchain era
V SYSTEMS is on the verge of an exciting phase in our growth. Since the publication of Sunny King’s first V SYSTEMS whitepaper, we have been hard at work to deliver his vision — a time when abundant affordable, scalable and flexible blockchains are used to power businesses large and small, as well as public services, games and other high-tech applications. The much-touted blockchain advantages — security, instant updating, traceability and trust — will finally be within reach of everyone.
The impact of this revolution will usher in a new economic reality — what we call the Virtual Economy Era. Sunny King sees this vision as resting on four distinct pillars. Taken together, they add up to the formula for transformative technology.
- Supernode PoS = High Scalability
The first pillar, Sunny King’s revolutionary innovation, Proof of Stake (PoS), is now a reality on our mainnet in the form of Supernode Proof of Stake. This is the single most important milestone in delivering a route to scalable, cost-effective blockchains to power all manner of businesses and public services. Because the key activity of consensus will be untethered from power consumption, it is much less power-hungry and therefore much less expensive.
Being based on high-performance nodes, SPoS will enable a huge rise in the speed, scalability and security of blockchain tech against a 51% attack. These supernodes also carry out block-minting activities at a predictable rate — currently four seconds, but this will speed up as the network expands. This gives the network an extremely stable foundation, helping with scalability and performance — essential for public and commercial applications.
- Blockchain Databases = Multiple Purposes
Key to Sunny King’s vision is the idea that scalable, cost-efficient blockchains can power decentralised databases, revolutionising the way businesses can be run. V SYSTEMS is working on providing the world’s first full-featured blockchain database for storing object-oriented data.
Blockchain-based databases can support more complex applications, such as financial, gaming, social and other application scenarios that depend on databases’ storage and organisational abilities. Databases on blockchains will have high concurrency, the capacity for customisation, efficient indexing, data security and a host of other desirable application scenarios.
All of these applications will become faster, more flexible and easily scalable when they can be run on dedicated blockchains. Sunny King and the team at V SYSTEMS have already mapped out and started delivering key aspects of database functionalities to run on blockchains — with more to come.
- Cloud & Modular = Easy Deployment
The V SYSTEMS platform will be both easy to use and developer-friendly through modular development functions and cloud platform tools which enable enterprise developers to focus on doing business on the blockchain, rather than grappling with difficult coding issues.
Core blockchain database functions such as consensus management, block tree management, interchain processing, transaction processing, data formats, peer networks, and internet protocols will be constructed as independent templates or building blocks.
Developers focusing on how the blockchain is applied to their particular business logic will combine these building blocks to create numerous iterations of blockchain functionality that suit their requirements. Users will be able to modify their database by choosing different protocol parameters and pluggable components. From the blockchain developer’s perspective, this greatly improves overall development efficiency and guarantees stability from the outset.
- VSYS Coins = High Sustainability
The lifeblood of the V SYSTEMS network, VSYS Coins are already being used to pay various transaction fees on the V SYSTEMS platform, including the Supernode application fee. VSYS Coin holders can also lease VSYS Coins to Supernodes for coin minting, giving them a steady source of revenue as a return on their investment (ROI).
Going forward, VSYS Coins will also be used to support the development and use of smart contract and decentralised applications, as well as to purchase resources provided by the V SYSTEMS blockchain database cloud platform, such as computation, memory, RAM, storage, random IO and sequential IO.
New VSYS Coins are generated from Supernode minting at a fixed inflation rate of 5.5% every year, so the economic expansion of the V SYSTEMS ecosystem is more predictable and more stable.
You can take part
VSYS Coins is now listed on Bitfinex and KuCoin, giving new participants the opportunity to get in on the beginnings of this revolutionary project — which will pave the way to a transformative technology that brings blockchain’s advantages within the grasp of any and all developers and businesspeople looking to gain a critical edge for their tech.