V SYSTEMS Lays Grounds for DeFi to Further Blockchain Ecosystem
By: V Systems
Tags: Cryptocurrency, Technology News, Distributed Ledgers, Database, Blockchain

NEW YORK — June 2019 — V SYSTEMS, the blockchain database cloud platform by Sunny King, creator of Proof of Stake (PoS), announced plan to focus on Decentralized Finance (DeFi) in its ecosystem development at a Staking ecosystem meetup happening during the Consensus conference in New York last month.

As DeFi emerged as a banner topic at Consensus 2019, industry experts revealed that more than 1,000 DeFi projects are currently under development that offer up intriguing potential to create a new economy era in the near future. Venture capital pioneers also expect the adoption of DeFi in digital assets is on the horizon. By placing an emphasis on DeFi applications, V SYSTEMS pledges to reshape traditional finance, and give blockchain an additional much needed utility.

Built by PoS creator Sunny King, V SYSTEMS is powered by the next-generation PoS consensus mechanism, Supernode Proof of Stake (SPoS), which has evolved with extremely high scalability and stability, and is practically invulnerable to 51% attack. Additionally, V SYSTEM’s core features like decentralized database can support efficient and stable development of applications for mainstream economic use cases, such as finance, data processing, exchanges and payment systems.

How V SYSTEMS is Boosting Access to DeFi

V SYSTEMS launched its mainnet in November 2018, alongside the VSYS coins, which can be used to pay for transfer transactions; its usage on the consumption of resources on decentralized applications and databases will be available soon. VSYS was first listed on exchange in January 2019, and has now been listed on more than 10 CMC top exchanges. To date, VSYS mainnet has 15 supernodes that are operated by exchanges, wallets, communities, and cryptocurrency trackers. More than 10 thousand of VSYS coin holders have been acquired to take up the role as minters through leasing their coins to supernodes, with a total staking value of approximately US$15 million. V SYSTEM’s next phase of strategic planning will expand its total number of supernodes to 30 and 60 in the future.

In Q3 2019, V SYSTEMS will release its smart contracts, and it will also introduce its own model of blockchain database, sidechain and cross-chain application development platforms in less than 2 years. In order to catalyze the development of DeFi applications in the ecosystem, V SYSTEMS has invested in more than 15 developer teams in the community to develop an array of decentralized applications, including digital asset tokenization, payment, securities and derivatives trading platforms, insurance, banking, financial database, lending, global investment, fixed rate savings, and more. With successive releases of smart contracts, the number of DeFi applications will gradually shore up, a mortgage stable coin partner with leading real estate is set to be a key project in the ecosystem, which market size is projected to hit US$1 billion.

Staking as the new prevailing trend in the blockchain industry

According to Staked.us, holders of PoS currencies can participate in staking and collect rewards of more than US$2.5 billion annually. Staking has now become a dominant emerging trend in the blockchain industry with its performant infrastructure and incentive system. V SYSTEMS — a blockchain database cloud project powered by SPoS consensus mechanism — offers an infinitely more enabling technology for blockchain to reach a global scale. VSYS coin holders can earn interests by leasing their own VSYS coins to supernodes for minting. The coin leasing process does not require any IT background and transfer of coin ownership. As Staked.us reported, V SYSTEMS’s total staking value has reached US$150 million, ranking the top six in the world.

About V SYSTEMS

V SYSTEMS is a blockchain database cloud project that aims to create new possibilities in today’s digital economy era. The project will deliver the world’s first object-oriented distributed database for general purposes, which is empowered to carry scalable decentralized applications (DAPPs).

V SYSTEMS is led by Archetector Sunny King, CEO Alex Yang and CTO Scott Nadal, who invented Proof of Stake (PoS) consensus in 2012 to challenge the Proof-of-Work (PoW) consensus used by Bitcoin. Supernode Proof of Stake (SPoS) consensus is Sunny King’s new innovation, as well as a major pillar that V SYSTEMS is built upon. SPoS is designed with incentives for supernodes to upgrade hardware and therefore, continuously improve the network performance to support large scale growth of DAPPs.

V SYSTEMS is going to launch the smart contract platform very soon, the blockchain application on V SYSTEMS will be focusing on decentralized finance.

For more information on V SYSTEMS, please visit https://v.systems.