V SYSTEMS, a blockchain database project, announced that its proprietary cryptocurrency VSYS has won the Huobi FastTrack voting. This development was reported on 01 August.
V SYSTEMS recalled that its creator was Sunny King who incidentally was also the inventor of Proof of Stake (PoS). V SYSTEMS headlined securing a relatively large number of votes and now was officially listed on Huobi Global. V SYSTEMS averred that VSYS coin’s recognition signifies that its cutting edge technology development and growing ecosystem was well-recognized by industry veterans.
V SYSTEMS CEO Alex Yang cited –
“Huobi has built a remarkable exchange that serves a large global market of digital asset traders. We’re thrilled that its users will now have access to VSYS Coins and will be able to participate in our blockchain ecosystem through the pioneering cold minting technology.”
V SYSTEMS shared insight that its mainnet and nodes went live last year. The blockchain database project went on that VSYS Coin had been listed on more than 10 major exchanges, including Bitfinex. V SYSTEMS firmly noted that the coin would continue to grow its global market through listing on more reputed exchanges globally. V SYSTEMS shared statistics that VSYS had reached a market cap of 450 million U.S. dollars.
V SYSTEMS indicated that by putting its main focus on decentralized finance (Defi), it had already invested in more than 15 international development teams. Such an endeavor was in a bid to incubate different Defi projects on the blockchain. The blockchain database project summarized that with the upcoming release of smart contracts, a host of partnerships and projects would gradually build up in the ecosystem.
Cryptocurrency exchange Huobi in collaboration with US-based cryptocurrency startup Stable Universal and stablecoin issuer and custodian Paxos will be launching its own dollar-pegged stablecoin. Paxos shared the news about the development in a press release.
V SYSTEMS wound up conveying key industry endeavors. V SYSTEMS is a plain blockchain database for decentralized applications. V SYSTEMS blockchain has implemented the new innovative consensus algorithm, Supernode Proof of Stake (SPoS). V SYSTEMS expressed its aim to deliver decentralized database cloud technology that is scalable, durable, with highest performance and resistance to 51% attacks. In a nutshell, the network is operated as a cloud platform that can support the efficient and agile development of applications.