Weekly Report 2019 October #3

In this weekly report (3rd Week of October 2019): Our Chief ArchitectSunny King has written an open letter to the community to introduce Euclid Smart Contracts and how it paves the way for virtual economic era. Please read the full report below.

1. VSYS Blockchain Development

Mainnet Development

VSYS smart contracts currently supported on the VSYS blockchain allow users to easily create their own tokens, and token transactions are validated on the underlying blockchain. The usages of the tokens can be defined by the creator of the tokens whether it be a form of financial instrument, electronic money, or token of utility. The tokens support obvious functions such as issuing, sending and destroying, but also some advanced features such as the split/reverse split functions are also available. These functions are analogous to the stock split in the financial world.

Other functions for smart contracts are currently in the design process, once features have been confirmed, they will be developed for the testing stage.

An event trigger feature is being developed, users will be able to set Event rules on nodes and listen to event changes. Rules can be customised and actions can be taken according to any events, such as changes in minting status, or balance of a node/account.

Utils Development

The V-Cloud Token service is currently in development, providing organisations with an extremely easy way of integrating with the VSYS Blockchain. Token issuers who wish to quickly and easily set up a token with pre-built applications can do so using this service.VSYS web wallet token verification has been updated for user friendliness.Trezor wallet app is currently being developed.A tool for easy smart contract deployment is currently being developed for public usage.

2. Global Community Updates

Euclid Smart Contract

Our Chief Architect Sunny King has written an open letter to the community about the release of Euclid Smart Contracts. Euclid aims to provide a token solution for anyone to implement a token economy system in order to rapidly build and deploy high-performance and high-security blockchain-based applications in the V SYSTEMS network. Sunny King, together with the VSYS team are committed to pushing forward a new economic era. Please stay tuned with us for more updates and announcements! Read the full letter here.

CoinMarketCap Global Conference 2019

V SYSTEMS Chief Architect Sunny King and the founder of CoinMarketCap Brandon Chez will be speaking at the ‘The Capital’ CoinMarketCap Global Conference on November 12–13 in Singapore at Victoria Theatre. Come join us and witness this historical moment together, for registration please click here.

CoinMarketCap Conference on November 12–13 in Singapore

Tachyon White Paper

Tachyon, the first application to be built in the VSYS ecosystem has released its whitepaper. As the TCP/IP-based internet communication is gradually falling behind, Tachyon Protocol aims to cope with the increasing demand for stability, security, speed and trust on the internet, its white paper revealed details on how the protocol is set to rebuild the TCP/IP model. Click through and learn more.

3. Market Overview

Market Cap

VSYS is now ranked at #44 on CoinMarketCap, with a market cap of over US$122 million.

Screenshot from CoinMarketCap on 18 Oct 2019

Staking Rewards

This week, VSYS has remained at #9 on stakingrewards.com. With a total staking value of approximately US$1.49 billion and an overall StakingRewards Score of 88%. V SYSTEMS has maintained a healthy staking environment for all token user. With VSYS coins, you can easily enjoy the rewards from staking with just a few clicks. Take action now!