Introduction
VSC is a unique Layer 2 network that offers next generation smart contracts while being upgradeable and highly secure. The VSC team is comprised of a high quality team of engineers and builders with a ferocious aptitude for building revolutionary technology. We are here to build next generation smart contracts for the Hive blockchain and enable the true potential of DeFi on Hive. Our technology will also enable long-term scalability and enable easy onboarding with off-chain accounts. As our mission to propel Hive into the future with smart contracts continues, we are always looking for ways to support the network that brought us here. One way we could do that was by launching a Hive Witness
The VSC Hive witness is live!
As of August 27th, the VSC witness is online and produced its first block. For those that may not be familiar, a Hive witness helps to produce blocks and validate transactions for the Hive blockchain. This is very important for maintaining the integrity and decentralization of the blockchain. The top 20 witnesses, voted in by Hive Power holders, also determine HBD Savings APR, and a number of other parameters that influence the blockchain.
Hive witnesses support decentralization and protect censorship resistance by signing blocks on Hive. Those are values that VSC stands for, along side our focus on radical innovation that can challenge the status quo. That is why we have decided to fire up our own Hive witness server, further providing support and security to the Hive blockchain.
Key pillars of blockchain
Decentralization is one of our core values that we hold high while building out our network. We encourage as much decentralization as possible by allowing anyone to operate a VSC node anywhere in the world and making it easy to operate. Currently we have over 70 nodes around the world and that can easily scale beyond 100, which is the ultimate goal. The more nodes, the more decentralized and secure the network becomes. This ensures that if anything were to happen to a handful of nodes, the networks still operates with no issues. It also prevents the network from being compromised in the event that a central party were to somehow gain control of the majority of nodes.
Censorship resistance is another core value of VSC, and we keep it in mind with every development. By design, we do not have the ability to censor the blockchain or any data that goes into it, which we take into consideration with every step we take. No central party is able to alter, block, or restrict information on the network. VSC is open source and able to be easily audited by anyone at any time. With these things in mind, you can always be sure that the VSC network operates with integrity, transparency, and is completely immutable.
Innovation is very important when it comes to pushing Hive forward into the future. We are upgrading its functionality with VSC's hardcore innovation and flexibility. After nearly 8 years in operation, it's time for radical improvement and changes. There hasn't been much progress with smart contracts on Hive, and we are changing that. We are leveraging smart contracts by making them highly composable and customizable for any almost use-case. A great example of those use-cases, would be the DeFi frontend we are working on that will enable our Bitcoin wrapping system, EVM compatibility, and DEX functionalities. Our technology will also aid the development of things like the SPK network, games, NFTs, and may other projects already building on Hive.
Why the VSC witness is important
The VSC Project is one of the fastest growing and fastest developing projects on Hive to date. We are constantly building and have made a tremendous amount of progress since the project has started. Since it’s inception, the VSC project has built a high quality testnet with working smart contracts and EVM wallet compatibility. We have managed to build an EVM wallet compatible layer which enables direct onboarding of EVM wallet users with zero friction and zero transaction fees. In addition, we are also developing our own Bitcoin wrapping technology and are poised to launch HBD staking on VSC. Our team is actively collaborating with other Hive projects like @v4v.app to showcase the possibilities that our technology brings and to expand the capabilities of all Hive projects.
Many of our staff members have been in the Hive community for multiple years, and within the broader blockchain ecosystem for even longer. @vaultec, as the founder and main developer, has assembled an experienced team of professionals:
- @geo52rey (Core Contributor): Fullstack developer (backend focus) with strong working experience in Web3 and startups. Primarily works on the VSC Core and supports within the VSC team.
- @platinium (Part Time Core Contributor): Fullstack developer with a strong interest in web3 and blockchain technology.
- @piyush0409 (Frontend Developer): Frontend developer working on building the frontend focus of the VSC Project.
- @l337m45732 aka 0xNifty.nft (Marketing/Comms): Highly skilled content creator and blockchain enthusiast with 6+ years in web3.
- @manuphotos (Community Manager/Social Media): Founder of @HiveCuba | Photographer | Community Manager of Hive @Keychain | Developer
With our high-caliber team and many years of experience under our belts, our developments and contributions continue to grow. Now that you’ve gotten to know our team, our accomplishments thus far, and our ambition to push Hive even further, it’s easy to see that we are aligned with the “key pillars of blockchain” mentioned above.
@0xNifty.nft
Final thoughts
With all of our developments so far, we have done a lot for the greater Hive ecosystem in a very short period of time, and we want to continue expanding our contributions. Launching the VSC Hive witness is just another way we can contribute to the blockchain that has given us so much. We don’t plan on stopping with our disruptive technology any time soon, so you can support us by voting for our witness.
Every single vote means a lot to us, no matter how small or large your Hive Power is. By voting for our Hive witness, you can directly support our values and vision for the future of Hive.