V Systems (VSYS)
V Systems is a blockchain-based cloud project. Its main goal is to approach a new era of the digital economy. The main inspiration and creator of this product is Sunny King, who is very famous for developing the first Proof-of-Stake project called Peercoin.
At his peak, he was ranked fourth in the capitalization rating at CoinMarketCap. The mission of the V System and the VSYS token is to create an infrastructure for building a cryptoeconomics based on millions of blockchain products.
V Systems cryptocurrency: project team
Sunny King is the inventor of the Proof-of Stake consensus mechanism and the creator of three cryptocurrencies, including V Systems, Peercoin and Primecoin. He is the main driving force of the project. Dr. Alex Yang, an entrepreneur and investor in FinTech with over 14 years of experience in banking and finance, is the project’s CEO.
The core development team is experts who previously worked at Oracle, VMware, Google, and other major technology companies.
The main objectives of the project can be briefly combined into several main points. Below we will provide a list of the goals that Sunny King and his colleagues set in the process of creating the blockchain infrastructure of V Systems and its VSYS token:
- Implementation of an effective cloud computing platform for convenient creation of new blockchain projects, as well as a general reduction in the cost of their development;
- Creating a unique decentralized interaction between blockchain projects, which would completely eliminate the need for local data storage;
- Launch of an ecosystem with a self-government mechanism for modernization and support of a full-fledged virtual economy;
- Making drastic changes to blockchain technology in order to make updating its software a simpler action;
- Creating a public database on blockchain technology that would simplify the life of developers and allow them to focus much more on promoting the final product;
- Implementation of a project with increased scalability, which would leave far behind the parameters of the current market leaders.
The project is built on the next, more advanced version of the PoS algorithm – Superior Proof of Stake (SPoS).
It has the following characteristics:
- Much better performance and 51% less vulnerability to external attacks.
- A simpler mechanism of functioning and use.
The V System blockchain is designed in such a way that even a gifted elementary school student will be able to develop his blockchain project based on his tools. In the process of its creation, the student will use cloud-based tools and modular design.
Using the VSYS Token
VSYS is the main cryptocurrency that is used inside the V Systems blockchain project. Its main application is payment of transaction fees and payment of super-node functions.
In addition, the coin can be used to access decentralized applications that are based on this project. Also, the coin is used as a means of payment for the spent resources during the creation of projects on the basis of a decentralized database.
The total number of coins in circulation is increasing by 5.5% annually through the activities of the super-node.
Each year, about 250 thousand coins are burned to provide a more stable and predictable project economy.
The project is promising, but, first of all, it is aimed at a community of people who are engaged in developments in the field of blockchain technologies. Perhaps it is precisely because of this that he will be able to achieve certain success, because those who are really interested in the development of technology, and not in making money on the economic component of the project, will use his services.
Although, there are also such ones, because if you buy a lot of coins, then it’s not so difficult to make money on course jumps.