V Systems is a blockchain-powered decentralized cloud platform for developers and businesses to build and deploy decentralized applications (dApps). The blockchain network is designed to support highly decentralized, scalable dApps and can support a virtually limitless number of blockchains in its ecosystem.
The open-source network offers a convenient platform for efficiently developing real-world, agile dApps. It leverages a set of composable “no code” smart contracts spanning a multitude of real-world use cases.
The blockchain’s developers constantly introduce new smart contracts for additional business use cases. This makes the VSYS blockchain extremely capable of mainstream use by businesses, organizations, and entrepreneurs looking to adopt blockchain-based applications.
VSYS is the native token of the V Systems blockchain. It is used for paying transaction fees, executing smart contracts, staking, and governance via its SPoS (Supernode Proof of Stake) consensus mechanism.
The V Systems blockchain uses the Supernode Proof of Stake (SPoS) consensus mechanism, where nodes are selected to verify transactions based on their stake in the network. The distributed consensus algorithm tackles the blockchain trilemma by offering higher scalability, efficiency, and resilience levels against 51% attacks.
The SPoS algorithm selects a set of nodes known as Supernodes to validate transactions and secure the network. These Supernodes are responsible for verifying transactions, producing blocks, and maintaining the integrity of the blockchain.
The choice of SPoS consensus makes the V Systems network faster in processing transactions and producing new blocks when compared to PoW or PoS blockchains. VSYS token holders can become Supernodes by staking their coins, and these Supernodes are responsible for validating transactions and maintaining the integrity of the blockchain network.
V Systems supports using privileged key pairs known as "administrators,” which can be designated to breach service agreements as violators, instructing nodes to ignore data associated with those keys. These administrators can designate other key pairs that breach service agreements as violators and instruct nodes to ignore the data related to those keys, effectively working to prevent malicious activity on the network. These key pairs can be part of the client software and are used to manage certain aspects of the blockchain network.
The V Systems blockchain was founded in 2018 by Sunny King - the pseudonymous creator of the Proof of Stake (PoS) consensus mechanism. King has also been actively involved in developing several other blockchain projects, most notably, PeerCoin and PrimeCoin.
The V Systems meinnet launch took place in November 2018, along with the launch of its wallet and 15 Supernodes. Its development team completed roadshows in 9 cities globally as part of the blockchain’s launch in 2018.
The VSYS Launchpad was launched in March 2019 in collaboration with ZB, ZBG, and BW. More than 300,000 users participated in the launch event at the time.
The first set of smart contracts on the V Systems network was also launched in 2019. Dr. Alex Yang served as the CEO of V Systems until April 2022, when Goh Yuen Khai took over this position. In October 2019, the blockchain partnered with CertiK to improve blockchain security.
VSYS v0.3.1, the Fermat Mainnet, went live in June 2020, followed by smart contract functionality on the network in July. The third phase of smart contracts would equip the V Systems blockchain with several innovations catering to decentralized finance (DeFI), including Atomic Swap, V Swap, V Option, V Stable Swap, and V Escrow.
Investing in V Systems’ token could be an interesting option, thanks to its innovative consensus mechanism and design for mainstream adoption of blockchain technology. As more businesses and organizations leverage the blockchain to deploy dApps, the VSYS price is expected to trend higher.
The value of V Systems token is poised for growth as more developers use its platform to build and deploy their dApps. This increased on-chain activity could attract more users to the blockchain, supporting the VSYS price statistics.
Higher investor and end-user interest in the web3 market could also drive up the price of V Systems coin, making it an attractive investment opportunity. A bullish sentiment in the crypto market could also boost the price of VSYS coin, encouraging higher buying activity among investors.
Although it is impossible to make an accurate VSYS price prediction over any duration, several fundamentals can offer a better picture of price action and volatility in the V Systems coin, including:
An uptick in the number of developers and organizations using the V Systems blockchain to build and deploy dApps could drive investor confidence in its native token. This, in turn, could increase the VSYS price in the market.
Future upgrades to the VSYS blockchain that make it more efficient, secure, and attractive over its competition can also contribute to bullishness in the price of VSYS token. The announcement of new partnerships and investments into the project could also boost the VSYS price statistics.
A favorable attitude towards blockchain technology and web3 among mainstream industries can also strengthen the price of V Systems coin. The VSYS price can gain during a bullish mood in the crypto market. On the other hand, a bearish or risk-averse sentiment among crypto investors could cause selloffs that weaken the VSYS token price.
The VSYS Coin is the native token of the V Systems blockchain, and has the following key uses:
$VSYS is used to pay transaction fees and execute smart contracts on the blockchain. It serves as the native currency of the VSYS ecosystem.
VSYS can also be staked on the SPoS network to participate as Supernodes that help validate transactions and add new blocks to the V Systems network. Stakers can also participate in the decentralized governance mechanism of the blockchain.
Consider trading V Systems coin against other cryptocurrencies. With the option to buy, sell, or hold VSYS, you can make informed decisions based on your belief in the long-term potential of the V Systems project. Start trading VSYS coin today and stay ahead of the game.
Here’s how you can mint and stake $VSYS on the V Systems network to participate in securing the blockchain and earning rewards:
1. Download and set up your account on the VSYS Walk Wallet, the official wallet of the V Systems blockchain.
2. Fund your wallet with sufficient tokens by buying VSYS on KuCoin or other supported platforms and withdrawing your tokens to the wallet.
3. Head to the Minting section of your wallet to lease your VSYS to existing Supernodes in the network.
4. Select the Supernode from the list of options and enter the number of VSYS coins you want to stake.
5. Confirm the transaction to start the staking activity.
6. Sit back, earn rewards, and grow your crypto holdings by staking $VSYS on the network.
V Systems has partnered with several cryptocurrency exchanges and crypto businesses over the years, including ZB, ZBG, BW, OKX, CertiK, OceanEx, Mine Digital, Xangle, and Tachyon Protocol. Some of the Supernodes participating in V Systems’ consensus include HashQuark,Bullseye.io, Huobi Pool, HelloPool, HelloVSYS, and more.