Prices are in USD.
|Market Cap Rank||#250|
|Price Change 24H||0.00%|
|Price Change Percentage 24H||-4.05%|
|Market Cap Change 24H||$-1,030,417.38|
|Market Cap Change Percentage 24H||-3.50%|
|Circulating Supply||2,169,880,320 vsys|
|All Time High||
July 29, 2019
|All Time Low||
December 29, 2020 -
|Wallets||ledger.com , trezor.io ,|
|Community||https://reddit.com/r/V_SYSTEMS , https://t.me/VSYSOfficialGrouphttps://twitter.com/VSYSCoin , https://www.facebook.com/2265780296981769|
V.systems is a blockchain that focuses on providing cloud computing services. The developers believe that this is the best cloud computing solution that exists. This is because it focuses on simplicity, speed, and safety. It provides users with an efficient, agile development platform.
V.systems is ideal for handling real-world use cases. It does use coded smart contracts. Instead, it provides smart contract templates that fit real-world applications. Moreover, these contracts do not require security audits. Users can be sure that they are secure.
This blockchain is in direct competition with one of the biggest players in the crypto space. It is competing against Ethereum. Ethereum is currently the go-to blockchain when it comes to launching decentralized applications. It is impossible to see how this blockchain will dethrone such a big player.
In any case, this blockchain provides an alternative to centralized cloud computing solutions. As expected, this comes with significant social and economic incentives.
V.systems describes itself as a blockchain database. This removes issues of control by central institutions. Such institutions have full control of access and account creation on their systems. However, on V.systems, anyone can generate key pairs and have an account.
Then, all data on the network is accessible to all users. Additionally, users can encrypt data on the network. This makes it private and only accessible to authorized individuals.
Further, users can also run a database as a business. This allows the database to have a form of central administration. They can do this through the business logic inside the client/node software. Here, users can create privileged key pairs. These act as the administrators on the blockchain.
Administrators can give access roles to users. Further, they can mark censorship activities on the network. They can also remove data not permitted on the system. This centralization is necessary for a business setting. However, it is in a weak form. Any kind of data can enter the blockchain. The only thing that happens is that administrator nodes do not recognize it as valid.
Further, the client/node software allows businesses to perform identification processes. This includes the KYC and AML processes.
No, it is not possible to mine on this blockchain. This is because it uses the Proof of Stake consensus. This consensus does not support mining. The developers chose this consensus because it is energy efficient.
Additionally, V.systems makes few adjustments to PoS to form the Supernode Proof of Stake consensus. This works in the same way as PoS. Users have to stake a minimum number of coins to become validators. The work of validators is to verify transactions on the blockchain.
The adjustment made by SPoS is in the hardware requirements of supernodes. Supernodes also act as validators on this network. However, they have to upgrade their hardware to match the requirements of the network.
This ensures the network does not rely too much on ordinary nodes. The network can handle heavy loads even without the help of ordinary nodes. This is because supernodes have better computational capabilities. This gives the network high scalability.
The V.systems team believe they are the most competent team in the industry. They have some of the best minds in the blockchain sector. The Chief Architect of this network is Sunny King, the inventor of the Proof of Stake consensus. He is a renowned developer in the blockchain community. He is the creator of Peercoin and Primecoin.
The CEO of V.systems is an equally experienced professional. He is a serial entrepreneur in the fintech space. He is the creator of Fund V. This is a funding project for cryptocurrencies in Hong Kong. He is also the Head of APAC and the VP of Exotic Trading at UBS.
These two individuals have the necessary experience to spearhead any blockchain project. Additionally, they have other people on the team, providing expertise in other diverse areas.
V.systems does not have a very encouraging performance in the markets. Its native coin, the VSYS, currently ranks 336th in market cap share. Moreover, it is showing a steady drop in value over time. It is impossible to tell why this is happening.
However, one of the reasons could be competition from Ethereum. Ethereum continues to prove to be the best solution for launching DApps. It continues to see more adoption each day. Therefore, every other project is failing due to this.
Generally, blockchain projects are very secure. This is because they consist of distributed nodes. Therefore, there is no central database to attack. Additionally, the nodes can help each other recover from successful attacks.
Problems come from the design of the blockchain. The consensus mechanism that a blockchain uses significantly affects its security. In this case, the network uses the SPoS consensus algorithm. It is a very secure consensus mechanism. This is because it makes the network immune to 51% attacks and double spends. Validating nodes on the network have a stake in it. Therefore, attacking the network would lead to losses.
Further, the developers provide bug bounties. This helps consolidate security experts from around the globe.
Privacy features on the network are customizable. Users can choose whether to run a public or private system. This is a very appealing feature for developers.
The V.systems blockchain is a very appealing project. It offers a great platform to launch decentralized applications. Moreover, it removes the need for centralized institutions in cloud computing services. This helps users gain more control and save on fees.
However, the performance of this cryptocurrency in the market is not very encouraging. It currently holds the 336th rank in market cap share. This may mean that the coin has great potential to grow. However, indications suggest otherwise. Its value is currently dropping at a steady rate, which is terrible news.
If you would like to add this cryptocurrency to your portfolio, then you are in luck. There are several exchanges that support its trading. Some of the best exchanges to use include Bitfinex, OKEx, Huobi Global, and HitBTC. The price of one VSYS coin stands at $0.012711 at the time of writing this.
Additionally, it is equally easy to store this coin. VSYS has its own wallet to help store and manage your cryptos. It is available on several operating systems. This includes Windows, Mac, Linux, Android, and iOS. Additionally, it is available as a web application.
V.systems has a very appealing mission and vision behind it. However, this is never enough. A blockchain project needs to back this up with excellent performance. This is something that V.systems fails to do.
It is currently showing a drop in value over time. It is impossible to tell whether its value will change direction in the market. In any case, investing in the VSYS coin seems like a gamble.