On July 10th, at the StakingCon - Staking Ecological Conference co-hosted by Odaily and BlockBeats, the team members of the VSYS blockchain database platform, the most powerful work of Sunny King, the father of PoS, made their debut in China.
Rob, the developer of the VSYS North American team, believes that according to Staked data, the current total market value of PoS projects accounts for less than 20% of the entire cryptocurrency market value, but five years later, the total market value may exceed Bitcoin, subverting the historical curve of BTC Dominance and becoming a white swan in the industry .
It is reported that the architect of VSYS is Sunny King, the inventor of the entire PoS and the god of creation.
In Coinmarketcap's global authoritative market capitalization ranking, VSYS ranks Top 36 in the world
Sunny King’s previous DotCoin and PrimeCoin ranked top 3 and Top6 in the world
Rob introduced the project, VSYS is a blockchain object-oriented database platform created by Sunny King, the father of PoS.
In terms of object-oriented blockchain databases, examples of extensive use of blockchain data include finance, games, advertising, social networks, etc. Easy-to-deploy application-specific sidechains will allow the network to support many types of high-volume applications.
In terms of cloud and modular ease of operation and deployment, it mainly includes non-Turing complete smart contracts. Fewer functions mean faster and safer contract development. Main features: modular, composable, and generable. Developers will be able to fully focus on business logic instead of blockchain development.
In terms of economic stability, not only all transaction fees are destroyed, but also a fixed amount of block rewards is set every year, which balances the impact of additional issuance on the stability of the virtual economy. Even after the blockchain is fully developed, VSYS coins will experience deflation Case.
According to Rob's introduction, V SYSTEMS is based on the pure next-generation consensus mechanism SPoS created by Sunny King, and continues the fundamental principle of PoS, Stake as Power. , you can mint coins and mine without locking the warehouse.
According to public information, VSYS currently ranks 34th in the world on Coinmarketcap, and ranks 5th in the global staking market capitalization dominated by Coinbase. Since the launch of Bitfinex in January this year, the rate of return has been as high as 7 times. In the ZB, ZBG, and BW joint LaunchPad in early April, VSYS attracted more than 300,000 exchange KYC users to participate. The single-hour transaction volume on the day of launch exceeded 100 million yuan, and there were tens of thousands of miners around the world.
According to Rob, the main progress of the VSYS coin recently is: the team is vigorously developing the miner community in the Korean market, which has been interviewed and reported by major TV stations, Economic Daily, and digital currency Internet celebrity channels. The smart contract is undergoing final testing before going online. The ecological project Preparations are underway for simultaneous chain launch, including several unicorn projects that exceed the total value of the entire DeFi ecosystem of Ethereum and EOS.
According to public information, the super nodes of VSYS coin have been connected to multiple exchange mining pools such as ZB and Huobi Mining Pool. At present, VSYS coin has been listed on more than ten mainstream exchanges such as Bitfinex, ZB, and Kucoin.
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The following is the full text of Rob's speech
Rob: Today, as a member of VSYS, I am here to share our products. Our product is the VSYS blockchain. This platform is application-oriented, and there are many applications, including the design of the SPoS architecture.
So we have this great team working together to make these products. In September last year, you can see the application of this database was launched. Among these new consensuses, we have designed new consensuses and become super nodes. We can share this information later.
Here we mainly focus on these four concepts, these four are, highly stable PoS super nodes, multi-purpose blockchain database, cloud and modular ease of operation and deployment, and highly sustainable VSYS Token.
The first one is a highly stable PoS super node. The second is a multi-purpose blockchain database. The third is cloud and modular ease of operation. The last one is about our token VSYS. We also know that any blockchain has its own currency, this is our architecture, and we all know what PoS is. In 2012, when we invented this new concept, we just thought of proposing two reasons. The first reason is to reduce energy consumption; the second reason is that we want to give these communities some rights, we all Knowing that POW does not empower the community, this is the main reason for the design of POW.
Just like when we look up at the starry sky, looking at the Butterfly Nebula is very beautiful, but it is not beautiful without a butterfly wing. In our blockchain industry, it is the two wings of a butterfly, both are indispensable. We believe that POS and POW are twins, and we think diversity is very important.
Our consideration for smart contracts is that we are in a progressive direction and must be managed effectively. ERC20 lacks management, so we have optimized management, which must be carried out under your management, and we can all do this. This is what we really hope to do.
At present, we see, for example, the decentralized application we are talking about. We call this DAPP. We think this is a possible thing. We hope everyone will call it MAPP (that is, Money App, that is, DeFi), because we will It will be mentioned that the future era is a mobile era, including our wallets and applications, all of which are based on your mobile phone. The desktop computer we've come to expect is hardly doing much anymore.
Supernode was designed by us in May last year and implemented in June. It has three main advantages. The performance we are currently testing, our TPS we set it to 25, and the cost is very low. For the entry of the threshold, we are in an open state. When we talk about SPoS, we want to simplify finance.
We will emphasize one word from now on, that is, governance. In actual deployment, we believe that a role of governance must be added, and we must strengthen the power of the community.
SPoS Economy Model This is one of our models. This is the list of our supernodes, we see here that Huobi Mining Pool is also operating our VSYS. This is a project invented by us led by Sunny King in 2013. It became the super node of VSYS last month. Currently, VPower is doing the best, and this one is ranked in the top ten.
Let me talk about the future. Let’s see that I took a look at it yesterday. Yesterday, the total market value of Bitcoin was 219 billion US dollars, which is less than one-third of Microsoft’s market value. Look at this, this is our current situation is very cruel, we think that the weight will change after five years, I only look at Bitcoin here, we think it is possible for Bitcoin to reach 50,000 US dollars in 2024, the concept of 50,000 US dollars is not their own The increase of bitcoin, but the kind of large companies and large capital entering digital currency, the increase of bitcoin stability and liquidity. His weight will lead to our wider application, so this is 2024, we look at the future and our speed should be faster.
Thank you so much for being able to do something, thank you!
