Waves Platform Functionalities

Analysing the steps taken so far in bringing the blockchain technology to the next level of mainstream adoption, Waves platform is an open source blockchain ecosystem that provides easy solutions to present blockchain shortcomings like in the case of scalability and user experience. For example, on platforms such as Ethereum and Bitcoin, blocks are discovered at similar intervals where latest transaction is processed until a miner has the right to submit and this leads to synchronization delay, but with the Waves NG model, the next miner is selected in advance who creates a key block which is filled with microblocks immediately. So, Waves platform gives opportunity to Developers with low latency, high network, and low transaction fees. Traders and investors can store assets on local lite client while trading them securely. Organisations can issue their own token for things like crowdfunding, loyalty programs etc. Waves FIAT gateway solves Fiat-crypto problems. WAVES DEX(Decentralized Exchange) allows users to trade any pair of tokens without conducting a transaction through an intermediate currency, in high speed within few milliseconds, which earned Waves the first decentralized exchange in history. Waves Coin is the waves token used for all transactions on the platform.

Interestingly, Waves support multi-signature wallets and token freezers, immediate distribution and trading of created tokens on the DEX and with the basis of the smart contracts employed, will solve security vulnerability issues, which also make hundreds of transactions per seconds possible. The platform implements some mechanisms such as integrated Fiat gateways, token launchers and decentralized exchange that speeds the process of transactions which alternates Ethereum. Waves can be traded on Huobi Pro with the following pairs: Waves/BTC and Waves/ETH, and has been available since June 22.

Built on top of scorex framework, Waves platform consensus protocol is based on the Proof of Stake model, but not the Delegated Proof of Stake process as that of EOS and others, rather Leased Proof of Stake process which all stakeholders can participate. However, block production is handled by a small subset of stakeholders who are always online to process blocks and transactions. Smart contracts features are Smart Assets; which will help to limit operations with a specific asset by simple validation. Smart Accounts which are lightweight scripts that allow solving issues related to security and a Turing-complete Decentralized Applications to extend base language to Turing complete allows the creation of DApps on the blockchain. These key functionalities mentioned are what makes the DEX and the waves NG model platform easier and faster.

Waves Lab, an incubator of the platform which focuses on pre-ICOs, projects and teams, is an initiative that provides support such as seed funding to projects and ICOs. It has partnered with both new and old platforms or projects. It recently added paytomat, a Ukraine based payment platform and funded it with 100,000 Waves.

Waves has a total market cap of over $1,000,000,000. Between may 31st till date of writing, price of waves ranged between $4.00 and $2.49 with the reading volume ranging between $15.14mm and $46.70mm. Reference waves review.

Waves

Wave’s Roadmap:

The first quarter of 2018 will see Waves initiating a shapeshift of the usage of Smart contracts (non-trimming) to Hardware wallets to Mobile Apps update and Decentralized Simple messaging. In the second quarter, there will be a move from Atomic swap to Voting (front end) establishment and third quarter activities will focus on Off-chain messaging with front-end. Lite client and Turing-complete smart contracts will be birthed in the fourth quarter.

The next milestone is for Equity token on the platform. However, the DEX Exchange is suitable for Security Tokens Support.  Also the Tokenomia, an organization that sees to compliant crowdfunding and offerings on the blockchain with full KYC.

Waves

As an enthusiast, everyday development and idea creation are welcoming and exciting, Waves platform have been able to provide an all-encompassing blockchain platform as it is currently giving several juicy offers to participants, whether trader/investor, organizations, developers etc. I see the platform as promising and a worthy investment. The platform should keep on adding interesting features.

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