Introducing VSYS 2: Fermat Smart Contracts Go Live

30 July 2020— Today we are pleased to unveil the newest iteration of the V Systems blockchain, VSYS 2. The main chain has been updated successfully at the 13,140,520th block to start supporting the Fermat Smart Contract functions. The focus of VSYS 2 is to create a faster, simpler, and more secure environment to build on V Systems.

This update serves as a step towards supporting more complex interactions between users of blockchains beyond traditional payments. The latest Fermat smart contract includes three major pillars:

  • Lock contract : A solution for asset locking that can be used as a proof of digital property on the blockchain
  • Non-fungible contract : A smart contract to create non-fungible tokens on V Systems that can represent ownership of non-digital assets
  • Payment channel contract : A powerful, innovative, self-contained payment model that makes micro-transactions, or very high frequency transactions possible

VSYS 2 helps lower the barrier to entry for all developers. In V Systems, every smart contract is static, which means that it is not necessary to write and upload code like what you would need to do if you were using other blockchains with contract support. Therefore, new developers will be able to get into a ready-to-build mode “in minutes” with our easy-to-use smart contract functionalities.

To improve the scalability of the V Systems blockchain, our team is currently working on a contract to allow atomic swaps, cross-chain swaps, and VSYS to token swaps. Stay tuned for more updates!

Stay Connected

We continue to regularly iterate new features into V Systems to provide developers a more stable and user-friendly platform. Community participation is encouraged, as feedback provides insight into the specific needs of developers. If you would like to offer feedback on VSYS 2.0 and work more closely with our team, you can contact our developer relations team at Github.

3 Likes

Great! Congrats!! Look forward to try all of those cool features.

Time lock would be a cool feature to have in the Walk Hot Wallet.