V SYSTEMS Forums: Community AMA


The V SYSTEMS Community Forum is Now Open!

To celebrate the launch of the Official V SYSTEMS Forum, the V SYSTEMS will be hosting an AMA for the community. This is your chance to have your questions answered about all things V SYSTEMS! Just ask anywhere below, and if you haven’t already, feel free to introduce yourself to the community here!

To celebrate the launch of the forum, we will also be awarding 500 VSYS to the best five questions asked in this thread. We are looking for thought provoking, discussing starting questions. The better you can ask your question, the better the team can answer your question.

We look forward to seeing what you guys ask, and we welcome you to the V SYSTEMS forum! There are a variety of categories and topics that you may find interesting, so we encourage you to come back and participate at any time!

Rules:

Activity Period

The V SYSTEMS team will collect all questions in this thread on 19 December, 2019 (UTC +8). Five best questions will be selected and each will be rewarded with 500 VSYS. The answers and winners will be announced here and on V SYSTEMS Medium on 23 December, 2019. Good luck!


As always, you can find the V SYSTEMS Social Media here:

Telegram: https://t.me/VSYSOfficialGroup
Bitcointalk: https://bitcointalk.org/index.php?topic=5095853.0
VSYS Talk: http://talk.v.systems
VSYS Twitter: https://twitter.com/VSYSCoin
Sunny King Twitter: https://twitter.com/sunnyking9999
Facebook: https://www.facebook.com/vsystemsofficial
Medium: https://medium.com/vsystems
Reddit: https://www.reddit.com/r/V_SYSTEMS

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Why is V System also working so hard to make vsys an outstanding project?
And why they always see their members the first priority?

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Are there any differences in the token mechanism of Staking 2.0?

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Can you tell us something about the adoption of VSYS? Like where you would love to see the usage of VSYS?

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What are the technical differences between the stake leasing MAB system and delegated proof of stake as implemented by, for example, Bitshares?

V SYSTEMS is dependent on the functioning of supernodes. Concentration of power with a few supernodes can be a problem for decentralization. Now V SYSTEM’s whitepaper mentions anti-centralization measures, to ensure that no single supernode can dominate the ecosystem. But what would happen if a group of rogue supernodes try to gang up and compromise V SYSTEM’s blockchain?

Yes. The biggest difference is this:

Under staking 2.0, you will get our ecosystem tokens, as well as VSYS when you’re staking. The best and most current example of this is with the IPX token. 10% of the IPX token supply has been put aside to reward users staking VSYS. VSYS and IPX will be given out proportionally between stakers on a supernode, the same way that VSYS is given out now.

I’m really excited about staking 2.0 because I think it’s going to grow our ecosystem, and because to the best of my knowledge it’s an industry first. Other top-tier VSYS ecosystem projects will use the staking 2.0 model, as well.

Thanks for your question!

OK, let’s go in opposite order:

  1. Where would we love to see usage of VSYS?

Pretty much anywhere. We’d like to branch out by providing easy to use software toolkits that allow developers to extend our platform in ways that we haven’t even considered yet. Our long-term vision is to be the AWS of blockchain infrastructure.

Here are some concrete examples that are being pursued currently:

  • DeFi (crypto finance)
  • Traditional Finance
  • Internet Infrastructure
  • Composite Currencies
  • P2P Insurance
  • Crypto Banking
  1. Can you tell us something about the adoption of VSYS?

Given that we’ve just released Euclid smart contracts, and we’ve already got one top-level project on our platform (tachyon.eco), I’ve got to say it’s going quite well. Also, each bullet point in the list above represents an actively developed project. With the introduction of staking 2.0 and all these new projects, it’s going to be exciting times on the V Systems platform!

Thanks so much for your question and welcome to our community!

@falconite

Thanks for this question, it exposes a fun piece of the game theory that secures VSYS. A group of rogue supernodes would need to get approval from token holders to operate. In my mind, there’s really just 2 ways that can happen:

  1. The group of rogue supernodes buys their way into the community, likely driving prices so high that they cannot acquire enough stake. If they were successful in acquiring enough VSYS, they would no longer be rouge supernodes, but instead ecosystem players with significant skin in the game.

  2. The group of rogue supernodes markets their way into the community, earning more leases than other supernodes and contending their way to power. Once again, they would no longer be rouge supernodes, but instead ecosystem partners chosen by token holders.

Hope this helps address your question, and thanks for your question!

  1. Why is V system also working so hard to make VSYS an outstanding project?

We wouldn’t be happy doing it any other way, we’re addicted to excellence.

  1. Why they always see their members the first priority?
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VSYS có ưu đãi gì khiến nhà đầu tư lựa chọn VSYS để đầu tư thay vì những dự án khác ?
Điểm mạnh nhất của VSYS là gì ?

Trong tương lai 2020 - 2021 VSYS sẽ tập trung mạnh vào vấn đề nào để phát triển cũng như nâng cao giá trị VSYS giúp nhà đầu tư cũng như đối tác yên tâm hơn khi đầu tư vào vsys ( phát triển Cộng đồng ? nâng cấp mạng vsys ? Liệt kê nhiêu trao đổi hơn ? Mua lại và đốt cháy giảm bớt lượng lưu hành vsys ).

Mod Edited to provide translation:
Does VSYS have any incentives that make investors choose VSYS to invest instead of other projects?
What is VSYS strongest?

In the future 2020-2021, VSYS will focus strongly on what issues to develop as well as enhance the value of VSYS to help investors and partners feel more secure when investing in vsys (community development? Network upgrade). vsys? List more exchanges? Acquisition and burning reduce vsys circulation).

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Đâu Điểm khác biệt lớn nhất giữa vsys với đối thủ cạnh tranh của vsys?

Mod Edited to provide a translation:
Where is the biggest difference between vsys and vsys competitors?

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Hello Jacob,

Thanks for the response :slight_smile:

I do have a basic doubt here.You say that the supernodes would need the approval of the token holders. Most token holders might not know specific details about the supernodes. Wouldn’t it be easy for such rogue supernodes to initially post as authentic ecosystem participants, and only show their true colours once they have accumulated enough stake? Am I missing some thing here?

Where is the biggest difference between vsys and vsys competitors?

There are many differences between us and our competitors, but I’m just going to focus on one of them here, because it’s the most important:

We choose our partners, and we commit to them.

While other platforms will “partner” with anyone, we’re a great deal more picky. When you see a project that’s co-promoted and co-branded (for example Tachyon) you can know that it’s been fully vetted and it’s run by a team of technology and business professionals. In the end, it’s this tight partnership style that differentiates us from our competitors. We’ll go so far as giving our own blockchain new features to ensure the success of a partner (ex: payment channels for Tachyon), and in my experience, that’s unique.

Thanks so much for your question, @Anhho!

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Basically, stake is expensive… and it doesn’t matter if it’s acquired socially, or acquired with money. In the end, attacking our platform is expensive, either socially or financially.

Happy to discuss/explain this more if you’re still not quite getting it!

1 Like

So many great questions, thank you very much!

Let’s do them one at a time:

Does VSYS have any incentives that make investors choose VSYS to invest instead of other projects?

There are already many staking projects, though we do offer staking. Please look to differentiate us not just on staking but on the quality of projects that you can access in our ecosystem. Also, please look to our industry-leading “staking 2.0” which will allow you to earn not only the VSYS token, but also ecosystem tokens like Tachyon (IPX) from staking VSYS.

What is VSYS strongest?

Certainly, our biggest strengths are:

  1. Technology
  2. Close partnerships with projects on our platform, like what you can see with IPX at https://tachyon.eco

In the future 2020-2021, VSYS will focus strongly on what issues to develop as well as enhance the value of VSYS to help investors and partners feel more secure when investing in vsys (community development?

While there are many things that will enhance our ecosystem value in the coming year, I’d like to focus for a second on Staking 2.0. The ability to earn multiple ecosystem coins from a single staked coin is to my knowledge unique, and I think it’s going to make us stand out.

Thank you very much for your questions, @Anhho!

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Is V SYSTEMS doing anything about private transactions? Since DeFi is the core focus area, wouldn’t customers look for private transactions? For example, I might want to send my funds privately to a 3rd party application. I couldn’t find any details about private transactions in the whitepaper.

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  1. Do you foresee emerging projects jumping ship from other smart contract platforms to VSYS?

  2. What will the transition be like for those projects? Say for example, a project written as solidity smart contracts to be ported over to using Euclid smart contracts.

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Good questions so far!

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