V Systems is an open-source network that supports the efficient and agile development of decentralized applications (dApps). In effort to better prevent 51% attacks, V Systems has introduced Supernode Proof-of-Stake (SPoS), a distributed consensus algorithm designed to solve energy inefficiency, centralization of mining pools and lack of scalability, all while aiming to retain as many favorable features of PoS.
To begin staking, you can delegate your VSYS tokens to Bloq’s public validator or contact us to spin up your own dedicated V System validator with Bloq.
When staking, you will always maintain possession of your private keys by leasing your VSYS tokens to the Bloq Supernode. In the event the Bloq Supernode fails to maintain constant uptime, you will only be at risk of losing a small percentage of the rewards.
Bloq infrastructure is non-custodial and allows you to stake your VSYS while retaining control. At no point does Bloq hold your private keys nor will Bloq have access to withdraw the staked VSYS.
Staking VSYS has no lock-up or unbonding period. You are free to withdraw and trade your tokens at your discretion.
Navigate to https://wallet.v.systems/and ‘Launch App.’ If you have already created a V Wallet, you may choose to import it at this time, otherwise select ‘Create a Wallet’ and set up your new account. Tip: If creating a new wallet, remember to save your Secret Backup Phrase.
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Load your VSYS wallet with your VSYS tokens.
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Click on the ‘Minting’ tab in the hot wallet and then click on ‘Start Lease.’
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Copy and paste the Bloq Supernode address in the ‘Recipient’ field, the amount of VSYS you want to lease in the Amount field, and then click ‘Continue.’ On the next screen, click on the ‘Confirm’ button to broadcast your leasing transaction.
