What is V SYSTEMS?
Created by Sunny King - legendary blockchain developer, V SYSTEMS (also known as VSYS) is a blockchain database cloud project that aims to create a brand new digital economy era. The project will deliver the world's first object-oriented general purpose distributed database, which is empowered to carry complex decentralized applications.
The Supply - The genesis block produced 5,142,858,000 VSYS Coins, then annually produces a fixed around 283,824,000 VSYS Coins, issued through supernode minting, with a inflation rate around 5% which decreases every year.
VSYS Coins are burnt during transaction, deflation may occur as a result.
Utility - VSYS coins are the cryptocurrency on V SYSTEMS blockchain. Following the V SYSTEMS mainnet launch in November 2018, VSYS coins will be used to pay transaction fees, supernode functions, leasing and minting. The VSYS coins will also be used to access applications built on the V SYSTEMS network, such as smart contracts, side chain, cross chain, and DApps, as well as pay for resources usage for projects built on V SYSTEMS decentralized database cloud.
Who is Sunny King?
Sunny King is the inventor of Proof-of-Stake consensus mechanism and creator of three cryptocurrencies/blockchain projects, including V SYSTEMS, Peercoin and Primecoin. Each project brings important advancements to blockchain technology and its community. In 2012, Sunny King invented Proof-of-Stake consensus to challenge the Proof-of-Work consensus used by Bitcoin, with the aim to create an energy efficient blockchain consensus mechanism. Since then, Sunny King created Peercoin and Primecoin, and led the technology community to work on these two projects. The core ideas and technology used by Peercoin has inspired a lot of altcoins in the market, with Proof-of-Stake consensus massively adopted in the community. In 2018, Sunny King returns with his new consensus mechanism - Supernode Proof-of-Stake, together with his brand new project, V SYSTEMS.