V Systems Coin Review
V Systems Coin is an innovative blockchain database project. The project promises a decentralized cloud database technology for complex apps including a future economy built upon millions of blockchains. V SYSTEMS aim to achieve this via a scalable and stable infrastructure based on Supernode Proof of Stake (SPoS).
Source: VSYSTEMS Branding
VSYS coin is the native currency for the VSYS blockchain. Its utility lies in the reward for the act of block production and platform usage. Use cases encompass minting and staking on the network. In addition, users can access several apps built on the V SYSTEMS network with VSYS. Such apps may include smart contracts, cross chains, DAPPS and side chains.
Launch, IEO and Market Cap
The coin was brought to the public in Q1 2019 via an Initial Exchange Offering (IEO). The outcome of the sale remains undisclosed.
- ICO End Date: 28 March 2019
- ICO Price: 1 VSYS = 0.0265 USD
- Hard Cap: $318,000
- Funds Raised: Undisclosed
Current stats based on CoinMarketCap (01/11/2019):
- Market Cap: $124,114,645 USD/13,357 BTC
- Volume (24h): $2,913,087 USD
- Circulating Supply: 1.8 billion VSYS
- Total Supply: 3,755,311,243 VSYS
- Market Rank: #46
The token’s use cases are to:
- Create a pass-through economy without any IT background
- Split and merge token function to achieve a similar function to the stock split.
- Lease coins to participate in the minting process for interest reward.
- Receive crypto awards from regular buybacks, and
- Exchange with various digital assets on the Huobi exchange.
Main Focus Area
V Systems is designed to be practically resistant to a 51% attack. It supports the agile development of applications for finance (DeFi), entertainment, and social media. VSYS aims to form a secure platform for blockchain database through SPoS. SpoS is short for Supernode Proof of Stake. It determines consensus weightings using coin holdings rather than power consumption. Block generation in a SPoS network (minting) is constant. This is inherently more stable and enables greater performance. By SEC standards, VSYS Coin is a utility token.
VSYS Coin Roadmap
- 2016 – The idea and goals of the project were posted as “Excelsia Project” on bitcointalk.org
- 2017 –The initial version of a technical whitepaper was finished. The project website was launched.
- 2018 – It wrapped up its global tech roadshow. SPoS consensus revealed. The Mainnet, wallet, and supernodes were released in November.
- 2019 – Expanded ecosystem partners. VSYS was listed on several exchanges.
- 2020 – To release a full update and expand.
Team and Founders
Sunny King, a blockchain developer created VSYS. He is the Chief Architect at V Systems. In certain circles, he is downright legendary. He invented the Proof of Stake (PoS) consensus, which became a popular governance model. It currently enjoys widespread adoption within the crypto space. King has since created three blockchain projects. These are Peercoin, Primecoin and – this token – V Systems.
The CEO is Alex Yang, a Fintech Entrepreneur and investor. He has over 14 years of experience in Banking and Finance to his credit. Yang is also the founder of Fund V, one of the first token funds in Hong Kong.
The rest of the dev team consists of top database scientists and crypto experts. They are based in various locations – New York, Hong Kong, and Silicon Valley.
V Systems Technology
V Systems facilitates the launch of the new web economy. It will do this by creating a database cloud system to streamline the creation of new networks and decentralized apps. VSYS coin build on an innovative consensus model that solves scalability and energy issues using PoS and PoW.
V Systems rewards network participation and node hardware upgrades. Its SPoS consensus model rewards both supernodes and coin owners. It also ensures network integrity and the delivery of high scalability and TX throughput.
Yes. Euclid, the smart contract carries a high level of processing power. It can handle a massive amount of data quickly. As the project grows, V SYSTEMS will develop a turing-complete and data-oriented smart contract programming language. This will unleash the full potential of the smart contract to developers.
VSYS coin operates under supernodes instead. The SPoS consensus model follows a delegated Proof of Stake model. VSYS coins holders lease their coins to elected “supernodes”. The supernodes mint the new blocks. Supernodes are usually equipped with adequate tech specifications, low commission fees, decent reward distribution plan and proven contribution to the whole ecosystem. There are 15 supernodes, operated by exchanges, wallets and staking communities. VSYS Coin holders act as minters through coin leasing. Thus contributing to a total staking value of approximately US $345 million.
V Systems Algorithm
V Systems uses the SPoS consensus model. In this model, supernodes carry out the block minting.
V Systems Coin Scam Accusations
None till date.
Where to Buy V Systems Coin
You can trade VSYS on many exchanges. Listed below are some of them:
V Systems Coin acts as an open platform that supports the growth of decentralized apps with multiple consensus algos. The VSYS coin will likely support the creation of database apps, modular blockchain architecture, and large-scale enterprise applications in the future.