HashQuark Joins V SYSTEMS as Supernode
HashQuark, a leading mining pool focusing on public chains built upon PoS, has become the new supernode of V SYSTEMS- the latest blockchain project by Sunny King who is the creator of Proof of Stake (PoS). HashQuark had earned the support from the VSYS Coin community to represent the coin holders in taking up the role of supernode in V SYSTEMS where they would be performing coin minting and thus contributes to pushing forward the truly scalable and stable blockchain virtual economy envisioned by V SYSTEMS.
With Sunny King as the chief architect, V SYSTEMS is the next revolutionary blockchain database cloud project. The team attracts experts in database and encryption space to deliver top-tier technology. VSYS Coins, the cryptocurrency on V SYSTEMS blockchain, are now listed on the world’s leading exchanges including Bitfinex, KuCoin, and BitForex. The mainchain has been online since last year.
The announcement of HashQuark surely marks a crucial step forward for the long-term development of the Supernode Proof of Stake (SPoS) ecosystem. It further consolidates the foundations in building a decentralized self-governing public blockchain with industrial level speed, safety, and scale.
With the unique design of SPoS and VSYS Coins, coin owners can lease their coins to supernodes for coin minting, in which supernodes will return minting rewards to respective coin owners. HashQuark will start the minting of VSYS Coins in the near future and deliver minting rewards to users in multiple ways.
V SYSTEMS Supernodes
Supernode Proof-of-Stake (SPoS) consensus developed by Sunny King and his team is the major pillar of V SYSTEMS. Supernode minters produce blocks using both their own coins and coins leased by other users. A reward in the form of interest will be paid to the owners of said coins. Since equal minting right gives supernodes equal standing and output, an equilibrium exists as a built-in force to equalize the ecosystem and thus solves the threat of centralization as seen in Bitcoin and other PoS ecosystems.
V SYSTEMS is a blockchain database cloud project that aims to create a brand new digital economy era. The project will deliver the world’s first object-oriented general purpose decentralized database, which is empowered to carry complex decentralized applications. The chief architect, Sunny King, is the inventor of Proof of Stake (PoS) consensus. By delivering Supernode Proof of Stake (SPoS), the next step in freeing consensus from Proof of Work’s costly link to energy consumption, V SYSTEMS is building a platform to deliver cost-effective, scalable and easy-to-develop blockchains.
In addition to SPoS, V SYSTEMS is focused on three further pillars of development toward universal scalable blockchains: decentralised full-featured databases for storing object-oriented data; cloud and modular tools to enable developers to create custom blockchains efficiently; and VSYS Coins, which enable participation in the V SYSTEMS platform development process by providing access to network services and incentives.
Official website: https://www.v.systems/
Whitepaper of V SYSTEMS: https://www.v.systems/pdf/vsyswhitepaper.pdf
Sunny King’s announcement on V SYSTEMS: https://bitcointalk.org/index.php?topic=5095844
Sunny King, a legendary blockchain developer, is the inventor of Proof-of-Stake consensus mechanism and creator of three cryptocurrencies/blockchain projects, including V SYSTEMS, Peercoin and Primecoin. Each project brings important advancements to blockchain technology and its community.
In 2012, Sunny King invented Proof-of-Stake consensus to challenge the Proof of Work consensus used by Bitcoin, with the aim to create an energy efficient blockchain consensus mechanism.
Since then, Sunny King created Peercoin and Primecoin, and led the technology community to work on these two projects. The core ideas and technology used by Peercoin has inspired a lot of altcoins in the market, with Proof of Stake consensus massively adopted in the community.
Dr Alex Yang is a FinTech entrepreneur/ investor with over 14 years of experience in banking and finance. Prior to this, Alex was the founder and CEO of Fund V, one of the first token funds to focus on blockchain companies and related investment opportunities. He was also the founding partner of Beam VC and CyberCarrier Capital.
Prior to moving into venture capital investing, Alex was based in Hong Kong as head of APAC structured rates trading at Nomura International, and VP of exotic derivatives trading at UBS. He started his career as a quantitative developer at Jump Trading in Chicago.
HashQuark, member of a Hong Kong-based Fintech company HashKey Group (www.hashkey.com), is a new generation mining pool focusing on public chains built upon PoS, DPoS and the like. Mining is made easier in HashQuark; users simply need to deposit tokens into their account, and HashQuark will then mine for them on a safe, transparent and efficient basis. Tokens deposited in HashQuark fall into the 24/7 protection of a top security, and can be withdrawn at any time. HashQuark allows a more secure and stable way of mining, and may be the right place for idle tokens to go at a time of volatility of digital assets.