The VEE blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details project announced its plans for development for 2019-2020, which will allow it to develop in accordance with the needs of users, as was reported by the CoinTelegraph news agency.
VEE, the latest blockchain-project from Sunny King, developer of PoS. It is based on SPoS (Supernode Proof of Stake) – a consensus algorithm that is currently running, working and extremely stable. Now, the platform reaches 99.99% with a new block that is produced every four seconds. Representatives of the platform state that they managed to minimize average network delays to a few milliseconds and are confident that the block periods will decrease as the network expands.
Despite the precarious position of the cryptocurrency market, the developers of the VEE project are confident that blockchain technologies have great potential, regardless of the crypto-coins. Now, the number of blockchain projects is rapidly increasing, they are used for a variety of purposes – from logistics to engineering, data capture and hospital operation.
Objectives and plans for the VEE blockchain-project
Sunny King, chief architect of VEE, says that one of the goals for advancement is the development of a fully functional blockchain database for storing object-oriented data.
"The platform will provide full support for corporate DApps, similar to zero-disclosure cryptography (...) with the addition of a higher level of confidentiality to protect data stored in the blockchain. (...) This guarantees blockchain transparency, but at the same time keeps the data closed" – Sunny King.
Working with smart-contracts is another goal for 2019-2020. The VEE chief architect claims that the existing models are neither "smart" nor safe. Therefore, in the future it will be quite difficult to expand them. Through its public network, VEE promised to provide "smart-contracts of the future generation".
From the statement, they will work by supporting non-functional assets and proposing implementation verification requirements for a variety of situations. More information about this event should appear during 2019.
"We are sure new-smart contracts will become more convenient and will take into account much more details of the work (...) We hope that in the next two years we will implement all the planned developments" – Sunny King.
VEE also plans to create a new decentralized mobile Internet network with a browser, in orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details to simplify blockchain-operations in applications.
Recall that the VEE network was launched on September 17 last year. Sunny King then created the PoS consensus and it is hoped that the new SPoS will offer significant improvements to user security.
Editor: Alyona Nabok