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