There are tens of thousands of blockchain project happening around the world. But due to the many flaws and inherent scalability issues, the world has yet to witness a massive adoption of this technology. It is time to tackle the core issues of blockchain and reinvent the technology to bring a truly scalable, stable, and global blockchain platform that is easy to use and is compatible with billions of system. By doing so, enable the widespread of blockchain adoption and push forward a whole new era.
Blockchain as a Database The major breakthrough that blockchain technology brought was decentralization. Logically, one of the keys to adopting blockchain lies within the migration from traditional database structure to this new decentralized framework. In general, traditional user accounts can be substituted by public-private keys and addresses in blockchains. Traditional databases are subject to strong access control, almost all data is restricted to authenticated accounts.
Moreover, account creation is also of a centralized model in traditional databases, by which a database administrator grants the user an account for access. With blockchains, conversely, key pairs are generated freely by anyone, without the need for centralized administration. Much of the data is then considered public access, unless it is stored in encrypted form on the blockchain. This applies even for private blockchains within an organization's own LAN, unencrypted data should still be considered as publicly accessible, due to the unavoidable breach into the LAN. Instead, privacy is protected by the anonymity of the virtual identities. This is in fact arguably a stronger privacy protection compared to a centralized model, where the loss of customer data happens often due to hacking.
Attention. There is a risk that unverified members are not actually members of the team
V SYSTEMS platform is aimed to significantly lower the cost of blockchain technology and massively increase the competitiveness of blockchain as a database platform compared to traditional database systems. V SYSTEMS is a kind of project that most of us missed since there were no public sale and hype games instead the team has definitely proved that they are capable to deliver. Although there is not much hype surrounding the project it has a great supportive community and recently has been listed on KuCoin and Bitfinex. We are definitely interested in the future updates of V SYSTEMS and are really happy that there are still projects that BUIDL.Our team will continue to follow the progress of the team and will definitely reflect everything in the updated DNA report in 6 months.
Based on the review of source code in the V SYSTEMS github and the runtime behavior of the installation we conclude that the project has reached a stage well aligned with what is outlined in the roadmap. The code is following specs and has reached an advanced and stable level.Nevertheless, we would recommend the team to enhance the installation by providing docker options, as well as completing the documentation of the node repository to enhance user friendliness from a technical perspective.As far as PoS-based systems go, this is one of the most interesting implementations we have come across, with a lot of effort put into research and experience from previous projects where Sunny King has been involved. Furthermore, there is no doubt about the team’s ambition to bring a product to market with the aim of real usability for adoption (and supporting this ambition with business development initiatives in parallel with the technical development).Having said this, it is clear that the project has a challenging roadmap ahead for 2019, bringing all remaining outlined system components to life. Judging from what we have seen this far, we believe that V SYSYTEMS has the capacity to deliver, and will be following the project along its roadmap.
Pros • Blockchain/Consensus Alternative • Notable team members and exp. • Active development. • Liquidity access through KuCoin Bitfinex. • Business Edge through propriety technology that could impact the space. Cons • Lack of marketing/business team members. • Not listed on coin market cap if it was would be ranked #32(Calculated from circulating supply of 5.1b multiplied by KuCoin price at time of writing). – Should be changed in the future. • SPoS seems to be a more centralized consensus algorithm. Team(30) – 20 points Impact(55) – 45 points ----What do you do and why is it important – Facilitation of new consensus Algo. New blockchain implementing the algorithm along with database related functions to improve inefficiencies in the blockchain space. ----Potential Market Size ----What Edge do you bring to the market – New consensus Algo from original POS creator. ----Specific Industry ----Usecase Activity/Progress(15) – 15 points
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