Waves Platform Implements New Blockchain Scalability Approaches

Waves Platform Implements New Blockchain Scalability Approaches

Waves Platform Implements New Blockchain Scalability Approaches

 

Waves platform is making progress with scalability solutions for its blockchain network.

Waves Platform Implements New Blockchain Scalability Approaches

January 13, 2017, Moscow, Russia – Waves platform, the custom blockchain token initiative targeting mass-market consumer and business adoption, has announced a series of measures to enable greater network scalability.

Scalability has long been a problem for cryptocurrency platforms. Since every transaction is recorded on the blockchain, the requirement of resources to process and store the information continues to increase. Bitcoin itself has been the subject of numerous scalability proposals, including Segregated Witness (SegWit) to improve its current maximum capacity and allow greater adoption.

Diverse Approaches for Scalability

The Waves team has made a series of publications and presentations aimed at addressing various aspects of scalability. These will be integrated into the Waves protocol in near future.

Early in January, Leonid Reyzin delivered a presentation titled “Improving Authenticated Dynamic Dictionaries” at Real World Crypto 2017. It offered details about possible ways to streamline the large and growing key value store associated with blockchain transactions. The implementation of authenticated data structures allows for continued use of lower-powered devices to maintain the network, enabling greater efficiency than current approaches.

Waves platform is refactoring and optimizing the storage to reduce blockchain size so that it is ready for different implementations in the near future.

Next-gen PoS and Choices for Miners

This can dramatically increase transaction throughput. Using these combined techniques, the Waves development team aims not only to improve security and create a robust network but also to raise the transaction capacity. However, until blockchain can scale properly it cannot hope to compete against traditional payment processors capable of handling thousands of transactions per second on an average. At peak capacity, they can process tens of thousands of transactions as well.

An updated scalability roadmap for Waves will be released in due course, detailing how these different methods will allow the platform to achieve the capacity it needs for mass-market adoption.

Waves Blockchain Platform Introduces New Framework for Community-Based Ratings Organizations

Waves Blockchain Platform Introduces New Framework for Community-Based Ratings Organizations

Waves Blockchain Platform Introduces New Framework for Community-Based Ratings Organizations

Waves Platform has announced the launch of a new token for community-based KYC/screening of new assets.

Waves Blockchain Platform Introduces New Framework for Community-Based Ratings Organizations

January 6, 2017, Moscow, Russia – The Waves platform has announced the upcoming launch of a new token as a part of its recently introduced Custom Application Token (CAT) facility on the mainnet. The new token distribution will enable Waves to foster community engagement in the next nine months.

The new token, aptly called the Waves Community Token (WCT) will be distributed after January 15, 2017. Initially, 20 percent of the WCTs will be distributed across all existing Waves wallet addresses based on their average WAVES balance between 1st and 15th January 2017. The initial distribution will be followed by 8 similar distributions in tranches of 10 percent each time. In order to be able to receive the WCTs, Waves community members should be holding their balance in Waves local wallets. Any WAVES tokens on exchange platforms are not eligible for WCT distribution.

Waves Community Token is designed to be much more than an alternative to Ethereum’s DAOs, which was compromised earlier in 2016. However, WCTs have better security, reliability and can serve a number of purposes. The DAO like feature on WCT enables members to offer community-based ratings for new projects launched on Waves platform. Asset issuers on Waves platform will also be able to distribute a proportion of their crowdfunded tokens to the WCT and Waves community in return for various services.

Waves Community Token (WCT), like any other Waves CAT assets, is freely transferable and tradable. WCT holders are eligible to receive a constant stream of asset rewards, giving the token a meaningful lifetime value. The WCT distribution timeline spread over a period of nine months also incentivises the community to keep WAVES tokens in their local wallets, away from exchanges by encouraging long-term holding.

Waves Community Tokens vs Decentralized Autonomous Organizations

Ethereum’s controversial Decentralized Autonomous Organizations (DAO) project was a limited success after a loophole in the DAO smart contract was exploited by a hacker, draining out millions of USD worth of ETH from pooled investment fund. Unlike Ethereum that focuses on smart contracts, Waves is a custom tokens platform where tokens can be easily created, transferred and traded.

The straight forward functionality offered by Waves platform makes it easier to use compared to other platforms. This will in turn influence companies seeking to launch their own crypto-tokens choose Waves over other blockchain platforms. Businesses can use Waves to create tokens that represent ownership of any number of different items of real-world value, from fiat currency and stocks to vouchers redeemable for specific goods and services. Waves will use a decentralized voting mechanism for an accurate reflection of community sentiment about new projects without putting funds at direct risk.

Learn more about Waves at – https://wavesplatform.com

Waves Platform and Higher School of Economics Partner for Pro FinTech Startup Program

Waves Platform and Higher School of Economics Partner for Pro FinTech Startup Program

Waves Platform and Higher School of Economics Partner for Pro FinTech Startup Program

Waves Platform and Higher School of Economics Partner for Pro FinTech Startup Program

Business Incubator of Higher School of Economics in Moscow has announced the second year of fintech startup program HSE{Pro}Fintech. Official partners of the fintech section are Waves, the decentralized platform for crowdfunding and community management and National Settlement Depository.

FinTech applications

The Incubator recently launched the second round of its {pro} fintech programme. The program aims to develop projects in the field of financial and blockchain technologies, in particular services for banks and their customers, personal finance management systems, peer-to-peer services, investment systems, payments, transfers and other fintech products.

Whilst Bitcoin has pioneered peer-to-peer online money transfer for almost 8 years now, Blockchain 2.0 technology is still in its relative infancy. A number of decentralised asset exchanges have already been created, including on the Nxt, BitShares, and Counterparty platforms. However, none of these have achieved significant traction, for a number of reasons. Firstly, they were small ecosystems. The assets traded generally had low liquidity and high spreads, and being decentralised platforms there was little accountability and a large proportion of low-quality and fraudulent assets. Regulations were practically non-existent. Additionally, trading was slow due to inherent block-time limitations of the blockchain. This made it almost impossible to attract legitimate new businesses and for these early decentralised exchanges to achieve critical mass.

New solutions

Waves platform is aiming to bring solutions to all of these problems with its Waves’ DEX (decentralised exchange), which has just been released on testnet. It allows any token to be traded directly against any other token – rather than trading two tokens separately against a reference currency, as most other platforms require. Moreover, it features an innovative new system that enables trades to be executed in near real-time via a “Matcher”, enabling high-frequency trading but still be settled on the blockchain for security.

Additionally, fiat gateways are in the process of being created to allow the use of blockchain-based EUR, USD, CNY and other major currency tokens. Gateways, which act as on- and off-ramps between the traditional financial sector and the blockchain, are responsible for remaining compliant in their regulatory jurisdictions. Thus, the Waves DEX allows for speed, security, and compliance.

Learn more about Waves at – https://wavesplatform.com




Waves CEO Sasha Ivanov Explores Trends in Automated Crypto Trading

Waves CEO Sasha Ivanov Explores Trends in Automated Crypto Trading

Waves CEO Sasha Ivanov Explores Trends in Automated Crypto Trading

Waves Blockchain Platform, under the leadership of Sasha Ivanov, explores opportunities in automated trading solutions.

Waves CEO Sasha Ivanov Explores Trends in Automated Crypto Trading

December 20, 2016, Moscow, Russia – Waves blockchain platform, host of the recently held Trading in the era of Robots and Bitcoin in November 2016 at its Digital October Center office is exploring some of the developing trends in the cryptocurrency trading arena with an intention of capitalizing on them. Sasha Ivanov, the CEO of Waves platform is leading the initiative.

A Brief History of Cryptocurrency Trading

The history of cryptocurrency trading dates back to the day blockchain based money was introduced. The concept of Bitcoin was introduced in 2008 followed by the network’s launch the next year. The first Bitcoin exchange, Mt Gox started its operations in 2010, which went on until February 2014 before it closed down due to series of management and security issues. Mt Gox’ loss was indicated to be around 850,000 BTCs, which was revised later after 200,000 BTCs were found in an ’old format’ wallet. Since then, cryptocurrency exchanges are always under a constant threat of being hacked. Bitfinex, the latest exchange to get hacked lost around $70 million back in August 2016.

Despite the risks, many traders continue to be attracted to cryptocurrency trading due to the earning potential it offers. Ivanov explains that the crypto market is inefficient; opportunities for arbitrage exist between exchanges, and the market is very volatile and unregulated with a constantly shifting landscape.

Regulation and Efficiency

Ivanov believes that the cryptocurrency market will move in the direction of greater regulation and efficiency. Arbitrage opportunities will gradually disappear paving way for high-frequency trading and platforms for trading stocks – similar to existing ones will arise, but on the blockchain. It will also lead to the emergence of ETF like trading funds.

The application of blockchain technology to these markets is currently in its infancy, but there are many opportunities. Markets that have already been established on the blockchain typically do not enable trading with sufficient speed, though they can provide transparency and decentralized trading. Nasdaq’s Linq project is one such example. Furthermore, distributed registry technology allows the combination of processes of interaction between the exchanges, brokers, depository, clearing systems and clearing houses. Blockchain can save time by speeding up typically lengthy processes, but more important than speed is transparency.

The Waves platform will play an active part in these developments by removing some existing barriers. The coming DEX (decentralized exchange) will allow anyone to have access to exchange facilities, whilst paying low fees – a far cry from the experience of many people remitting money today, or even changing currency on holiday. Any currency, security or commodity can be traded against any other, subject only to two parties agreeing to it over a system of order matching and settlement built on the blockchain, Waves will provide the speed of traditional crypto trading engines, whilst keeping the security benefits of a peer-to-peer system.

Looking Ahead

Ivanov sums up with a series of conclusions and predictions for the sector:

  • The cryptocurrency market is currently very inefficient, offering opportunities to earn from it. Arbitrage bots can be particularly effective.
  • Securities transactions will be carried on the blockchain. Exchange transactions will be carried out with the help of smart contracts and the need for IPOs will be markedly reduced.
  • Blockchain-based settlement and clearing systems will be developed.

Waves recently launched full nodes and custom application tokens (CATs), which allow anyone to create and send their own tokens. These will be the foundation of fiat and securities tokens on the blockchain, provided by gateway financial organizations.

bitcoin-pr-buzz-waves-ceo-sasha-ivanov

Sasha Ivanov, CEO of Waves Platform

Learn more about Waves Platform at – http://www.wavesplatform.com