[Crypto projects](https://revain.org/projects/) › V Systems

# V Systems (VSYS): how it works, supply and reviews

## In short

- **Type**: Open-source public blockchain protocol for dApps and real-world applications.
- **Initial distribution**: 5,142,858,000 VSYS were generated in the 2018 genesis block.
- **Risks and caveats**: V Systems' contract templates are offered 'without any extra security audit needed', as the project states; independent audits are not listed.
- **Checked**: 1 November 2026

## Key facts

- **Ticker**: VSYS
- **Official site**: [v.systems](https://v.systems/)

Key facts checked on 1 November 2026 against official sources.

## What is V Systems

V Systems is an open-source blockchain protocol for building dApps and bringing blockchain into real-world uses such as fintech, e-commerce and gaming. VSYS is its native coin, used for staking, transaction fees and smart-contract execution.

## Network and consensus

| Parameter | Details |
|---|---|
| Type | Open-source public blockchain protocol for dApps and real-world applications. |
| Consensus | Supernode Proof-of-Stake (SPoS). |
| Launched | The genesis block was generated in 2018. |
| Smart contracts | Composable 'no code' smart-contract templates; V Systems says they need no extra security audit. |
| Developer API | Every node exposes a Swagger REST API. |
| Contract fees (as stated) | V Systems states its contracts cost 1/10 of what they cost on Ethereum. |
| Reference node | The reference full node is open source on GitHub; the master branch is under development. |
| Throughput (as stated) | V Systems states the network handles millions of transactions every day. |

## Supply and issuance

| Parameter | Details |
|---|---|
| Initial distribution | 5,142,858,000 VSYS were generated in the 2018 genesis block. |

## What VSYS is used for

- Staking via SPoS
- Paying transaction fees
- Contract instantiation and execution
- Platform governance via SPoS

## Who develops and governs V Systems

- **Legal entity (website)**: The website terms are with Virtual Economy Technology Limited, Hong Kong S.A.R.
- **Governing law**: The website terms are governed by the laws of Hong Kong S.A.R.
- **Malaysian entity**: Virtual Economy Technology Sdn Bhd (V Systems) is named by the Securities Commission Malaysia in its first Regulatory Sandbox cohort.
- **Regional footprint**: The Malaysian company says it is a certified Malaysia Digital (MD) company serving clients in six Asian countries.
- **Enterprise arm**: V Systems names Coded Solution as its arm for enterprise blockchain.
- **Open source**: The reference full node is published on GitHub.
- **Chief executive**: V Systems' April 2026 update names Yuen Khai Goh as its CEO.

## History

| Date | Event |
|---|---|
| 2018 | Genesis block generated with 5,142,858,000 VSYS. |
| 2025 | V Systems received a Bronze Award for Innovative Design at the Bank of China (Hong Kong) Challenge 2025. |
| 26 November 2025 | The Securities Commission Malaysia selected Virtual Economy Technology Sdn Bhd (V Systems) for the first cohort of its Regulatory Sandbox, in alternative financing. |
| 8 May 2026 | V Systems announced it was engaged by Khazanah Nasional Berhad for Malaysia's first tokenised sukuk pilot, built on a locally deployed private blockchain. |

## Security and audits

- V Systems says SPoS is designed to help secure the network against 51% attacks.
- V Systems states it is SOC 2 Type 2 certified.

## Security incidents

No security incident is recorded in the sources checked on 1 November 2026 (the company’s own channels and incident databases): [defillama.com/hacks](https://defillama.com/hacks), [hacked.slowmist.io/search](https://hacked.slowmist.io/search/), [rekt.news/leaderboard](https://rekt.news/leaderboard/), [medium.com/feed/vsystems](https://medium.com/feed/vsystems), [v.systems](https://v.systems/)

## Risks and caveats

- V Systems' contract templates are offered 'without any extra security audit needed', as the project states; independent audits are not listed.
- The Malaysian sandbox entry is a test environment of about 12 months, not a licence.
- The website terms say use of the site and its content is at the user's own risk.

## Official links

- Website: [v.systems](https://v.systems/)
- Docs: [docs.v.systems](https://docs.v.systems/)
- Source code: [github.com/virtualeconomy/v-systems](https://github.com/virtualeconomy/v-systems)
- Block explorer: [explorer.v.systems](https://explorer.v.systems/)
- Blog: [medium.com/vsystems](https://medium.com/vsystems)

## Questions and answers

**What is V Systems?**

An open-source blockchain protocol for dApps and real-world uses, secured by Supernode Proof-of-Stake; VSYS is its native coin.

**What is VSYS used for?**

Staking, paying transaction fees, creating and executing contracts, and governance via SPoS.

**Who is behind V Systems?**

The website terms name Virtual Economy Technology Limited (Hong Kong); the Malaysian company Virtual Economy Technology Sdn Bhd was selected for the Securities Commission Malaysia's Regulatory Sandbox in November 2025.

**When did V Systems launch?**

V Systems says its genesis block, with 5,142,858,000 VSYS, was generated in 2018.

## Sources

- [V Systems - Home](https://v.systems/)
- V Systems - Buy VSYS
- [V Systems - Terms of Use](https://v.systems/terms-of-use)
- [V Systems - Resources](https://v.systems/resources)
- [V Systems - Enterprise](https://v.systems/enterprise)
- [GitHub - virtualeconomy/v-systems](https://github.com/virtualeconomy/v-systems)
- [Securities Commission Malaysia - First cohort of Regulatory Sandbox participants (26 November 2025)](https://www.sc.com.my/resources/media/media-release/sc-announces-first-cohort-of-regulatory-sandbox-participants)
- [V Systems Malaysia (Virtual Economy Technology Sdn Bhd)](https://www.vsystems.com.my/)
- [V Systems blog - 2025 Year in Review](https://medium.com/vsystems/2025-year-in-review-v-systems-b0731d0d7ecc)
- [V Systems blog - Community Update April 2026](https://medium.com/vsystems/community-update-april-2026-65bfef6c6d13)
- [V Systems blog - Tokenised sukuk pilot](https://medium.com/vsystems/launch-of-malaysias-first-tokenised-sukuk-pilot-programme-e975c7938bd0)
- [V Systems Explorer](https://explorer.v.systems/)

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Page updated: 2026-11-01

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Source: https://revain.org/projects/v-systems/