Weekly Report — 3rd Week of July 2020

In this weekly report (3rd Week of July 2020): Fermat Smart Contract is expected to be activated by the end of July. Hackernoon has featured VSYS Portal Payment Channel. VSYS was ranked the top 15 coins by social volume in July. Please read the full report below.

1. VSYS Blockchain Development

Mainnet Development

Fermat’s release of VSYS contracts has been thoroughly tested and is deploying onto the Mainnet. The activation height for new contract functionality has been set to the block height of 13,140,520. The block height is 12,837,455 at the time of writing. The activation height should be reached on roughly 31st July 2020. After this new types of contracts will be enabled, the payment channel contract, non fungible contract and the lock contract.

This update serves as a step towards supporting more complex interactions between users of blockchains beyond traditional payments. The payment channel makes micro-transactions (very small payment amounts), or very high frequency transactions possible. While non fungible contracts can represent ownership of non-digital assets. Lock contracts can provide proof of ownership for a certain amount of funds of the duration of the lock.

A contract allowing atomic swaps is also being developed, cross-chain swaps, or VSYS to token swaps will be possible.

Utility Development

The V Cloud service is getting ready to release, providing organisations with an extremely easy way of integrating with the VSYS Blockchain. Blockchain users who wish to quickly and easily set up a blockchain system with pre-built applications can do so using this service.

In V Could development, the VM supplier client functions and configuration templates have been improved, and some optimizations and bug fixes have been made.

The development of V Javascript version SDK for Fermat contract support is done and published to NPM. Python version SDK is developing Fermat contract support. Other programming language version SDK support for new contracts are being planned.

V web wallet the feature of deposit/withdraw token and v coin to/from contract is developed and currently under internal test. Once done, the new version will deploy to the Testnet web wallet.

More Node Monitor Tool is discussing and researching. After development is completed, they will open to public use in the future.

2. Global Community Updates

VSYS Payment Channel Catches Developers’ Eyeballs on Hackernoon

The Portal Payment Channel smart contract to be released by V Systems has attracted the attention of developers. Hackernoon is a well-known independent technology website focusing on publishing related blogs and KOL views. A recent article on smart contract applications mentions VSYS Payment Channel which helps making payments on blockchain faster and easier. Please read the following article for details.

VSYS Ranks Top 15 by Social Volume in July

According to CryptoDiffer, VSYS was ranked the top 15 coins by social volume in July

IPX Announces Partnership with Staking Rewards

Tachyon Protocol announced its new partnership with Staking Rewards to provide real-time IPX staking data to blockchain enthusiasts worldwide, making IPX staking more accessible. Please read the following article for details.

3. Market Overview

Market Cap

VSYS is now ranked at #112 on CoinMarketCap, with a market cap of over US$55 million.

Staking Rewards

This week, VSYS has gained an overall StakingRewards Score of 66.65% on stakingrewards.com. We promise to maintain a healthy staking environment for all token users. With VSYS coins, you can easily enjoy the rewards from staking with just a few clicks. Take action now!

Stay Connected

Remember to follow us on the platforms below to stay up-to-date with our latest updates and announcements.

Official Forum: https://forum.v.systems/
Twitter: https://twitter.com/VSYSCoin
YouTube: shorturl.at/mxX09
Github: https://github.com/virtualeconomy/v-systems

Other Useful Links

VSYS Official Website: https://www.v.systems
Supernode Ranklist: https://vsysrate.com/
VSYS Blockchain Explorer: https://explorer.v.systems