VSYS coin is a native cryptocurrency created on V system Blockchain network whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. VSYS coin was mainly created to enable different assets to be created on its V system blockchain thus the data of these assets can be secured when VSYS holders lease their VSYS coin to different 15 verified supernodes. VSYS coin holders can stake their coin to different supernode for a given period of time and be able to earn a reward of up to 20% per anum based on their staking.
VSYS coin transaction
VSYS coin transaction takes place on the V system blockchain explorer based on block height and timestamp. To view how the transaction takes place at V system blockchain explorer, simply follow the link below;
Date Launched
VSYS coin was created in 2018 with the main objective of becoming a staking coin thus allowing stakers who lease their coins to secure the database stored at the V system blockchain to be rewarded with VSYS coin.
Founder Of VSYS coin
VSYS coin was created by Sunny King who is also the creator of Peercoin with the main objective of allowing users to be able to lease their VSYS coin for a given period of time in order to secure the data stored at the V system blockchain. In return, the leasers receive a reward in the form of VSYS coin based on the amount leased to secure the database on the V system blockchain.
Process of creating VSYS coin
Unlike cryptocurrencies like bitcoin and Ethereum which are proof-of-work thus are created through the mining process in the presence of power and internet, for VSYS coin, that is not the case, instead, VSYS coin was created to become a proof-of-stake coin thus most of it is being released to the V system network through staking. You can either decide to become a solo staker which is less rewarding or can join a pool staking which is more rewarding. When you become a pool staker, you will be assigning your VSYS token to validators who will be taking part in the voting consensus of the V system network transaction. The validators will be randomly chosen by the network based on the amount of token they have. The more the token the validators have the more the network will choose them to validate transactions on the V system network thus the more the reward thus the stakers who will have taken part in the leasing of their token will earn more reward from those validators nodes. The staking period will last for a period of 30 days after which the validators will be rewarded based on the amount delegated to their staking pool. The more the delegation the higher the reward. Per year, the staking reward can amount up to 20% based on the amount delegated. If you feel you want to start staking VSYS coin and earn reward just like other delegators, you can download the VSYS coin wallet, deposit some VSYS coin over there and you lease them for a given period of time so that they can be unlocked for your reward to be considered. Here is how the VSYS coin staking process looks like;
Maximum circulation of VSYS coin
The maximum supply of VSYS coin that is expected to be circulating in the V system blockchain Network should be 5,142,858,000. From this amount, 283,824,000 will be minted every year via the supernode. The stakers are the one who will be leasing their VSYS coin to the validators of the supernode.
VSYS coin Price
Currently, 1 VSYS coin is worth more than $0.19 and its price is expected to increase over the next period of time. VSYS coin is being abbreviated as VSYS.
Converting my VSYS coin to other cryptocurrencies
To convert your VSYS coin to other cryptocurrencies such as bitcoin and ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your VSYS coin to bitcoin or ethereum. https://www.binance.com/?ref=10776203
Storing my VSYS coin
To store your VSYS coin, you need a VSYS coin wallet. You can either store online or offline. To store your VSYS coin online you can download the wallet or can use other online wallet supporting VSYS coin like coinpayment. To secure your VSYS coin from being stolen by hackers, you can download VSYS cold storage wallet.
Transferring my VSYS coin to other Users
If you want to transfer your VSYS coin to another user, the two of you must have trust in each other. The trust should be the VSYS coin address provided for the receiver while the sender must have the VSYS coin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;
Knowing more About VSYS coin
If you feel that you need to learn more about VSYS coin, then you can follow them on their site. Here is the link redirecting you to VSYS website https://v.systems/
Now that you know, I think that it is time for you to start earning some VSYS coin by staking them thus validating the transaction taking place on the database stored on the V system blockchain. The more you stake the more you earn. If you feel that I should also own some VSYS coin for helping you to know about it then here is my VSYS coin address;
ARMVxZYKNqVr6ExNicAaSg89b5S42WEgXRV
