Waves platform updates: Face ID, finger prints, new RIDE programming language

[PRIBO247]

Launched in the Spring of 2016, the blockchain-based
Waves platform was developed under the guidance of
its Moscow-based founder, Sasha Ivanov. The Waves
project also raised $16 million through its initial coin
offering (ICO), which was one of the highest amounts
raised through the crowdfunding method at that time.
Waves Wallet: ICO Hosting Services, Built-In DEX
When first introduced, Waves’ #DevelopmentTeam
primarily focused on providing ICO hosting services, as
the platform allows users to easily create and issue
customized tokens for their business. The Waves
wallet also has a user-friendly built-in decentralized
crypto asset exchange (DEX). Trades are settled
instantly and the Waves wallet supports both fiat and
cryptocurrencies.

However, due to regulatory restrictions in the US and
some other jurisdictions, certain features such as
credit card-related transactions through the Waves
wallet may not be supported for all areas.

First Movers Advantage: One Of The First Platforms To Launch A DEX
Currently, DEXs are not seeing as much trading volume
as centralized digital asset exchanges. The top DEXs
have been recording daily transaction volumes of about
$1.5 million, which is a tiny fraction of the average
$200-$800 million in daily transactions settled on the
top 10 centralized crypto exchanges .
Average daily transaction volume on Waves’ DEX is of
about $500,000, however, the platform may potentially
have an advantage over other competing DEXs since
its developers may be considered one of the pioneers of
peer-to-peer (P2P) crypto trading platforms. Moreover,
many other DEXs are not using their own blockchain
and have been built on the Ethereum network, which
has now become too congested.

Introducing Smart Contracts
About three months ago, the Waves platform introduced
smart contracts on its mainnet. After being approved
by over 80% of Waves’ community members, smart
contracts can be officially activated. Included in the
launch of the contracts are what the platform’s
developers refer to as Smart Accounts. These accounts
are non-Turing-Complete smart contracts, as they
allow code to be executed directly on the blockchain,
“but with deliberate limitations on functionality.”
According to Waves’ #DevelopmentTeam , limitations
have been placed on Smart Accounts so that there are
no cases of “unwanted usage scenarios” and also to
“increase the reliability of the system.” Some important
features included in Waves’ Smart Accounts are as
follows:

* Multi-Signature Wallets: One of the missing features
from previous versions of the Waves wallet was two-
factor authentication (2FA). However, by using the new
multi-sig wallets , users can maximize their account’s
security by enabling 2FA.
* Atomic Swaps: Users of two different token types can
conduct trades from separate blockchain networks via
a single contract.
* Token Freezing: “Preventing buyers from selling or
transferring tokens out of their address for a certain
amount of time.” This is useful in situations where “a
vesting mechanism” is required or “for team/contractor
payments after an ICO takes place”, according to an
official blog post by Waves’ #DevelopmentTeam .

Whitelist Voting, Data Oracles
As part of Waves’ smart contract mainnet launch, there
are other new features available as well, such as
“whitelist voting” and “data oracles.” Although maybe
not as useful as atomic swaps or multi-sig wallets,
data oracles allow Waves platform users to connect to
an external data source.
Data from third=party sources is read-only as it’s
registered on Waves’ blockchain network as a
sequence of transactions. According to the platform’s
developers, payments can be processed based on the
data found in these transactions.

Waves’ Smart Accounts Don’t Need Gas Like Ethereum
Unlike Ethereum-based smart contracts or those
issued on several other blockchain platforms, Waves’
Smart Accounts do not require “Gas” for processing.
However, there’s a negligible network usage fee of
0.001 WAVES that will be charged for such
transactions.
There’s also a new programming language, called
RIDE, that will be used to write smart contracts on the
Waves platform. As described by Waves’ developers,
RIDE introduces a new syntax which has been created
specifically for coding smart contracts. RIDE has been
“optimized” for execution on the blockchain as it
requires “minimal resources.”

Focus On Gaming Apps, 1 Million WAVES Developer Fund
Similar to how other decentralized application (dApp)
creation platforms such as Tron (TRX) and EOS have
focused more on gambling and gaming apps, the
creators of Waves have also announced an initiative to
help attract video game developers. Introduced in
October 2018, the initiative is supported by a 1 million
WAVES development fund (appr. $2.53 million) from
which developers will be compensated for their
contributions.
Earlier this month, Waves’ developers updated the
platform’s mobile wallet app. The new features allow
users to easily deposit and withdraw funds from their
mobile devices and access the Waves DEX. The DEX’s
user-friendly interface also allows users to lease their
tokens.

Some brand new features added to Waves’
comprehensive mobile app update include fingerprint
scanning and Face ID authentication. Users’ private
keys will now be encrypted and are “never exposed to
the web”, a blog post on the update noted.
Waves Keeper, Development Plans For 2019
Waves’ mobile app updates also added a “Waves
Keeper”, which is currently available on Google’s
Chrome Web Store. The platform’s #DevelopmentTeam
is presently “working on versions for other browsers.”
Waves Keeper allows users to sign transactions
through the Google Chrome web browser, which is
something similar to what MetaMask allows for the
Ethereum network.

The developers of Waves will also be introducing a new
European securities token platform called Tokenomica.
According to the roadmap , trading on the virtual
financial asset (VFA) exchange will begin in early 2019
and “key partnerships with service providers in security
tokens” will also be announced next year.
During the second quarter 2019, Waves’ Security
Issuance Platform will be introduced and “additional
gateways for VFA Exchange” are expected to be added.
In Q3 2019, the Waves’ management team will receive
a security trading license (if things go as planned) and
the Waves’ Security Trading Platform will be launched.

https://cryptoinsider.com/