Q: Waves is a platform? when you mention ‘’broker’’ do you mean Waves is a broker if not what will be a broker? ok btc is a coin, waves a platform so give me the name of a broker?
A: Waves is a decentralized platform, in the same sense as Bitcoin, blockchain where different kinds of transactions can occur. When mentioning “brokers” I meant different blockchains where you can issue asset. Imagine you have a token on ETH platform and would like to move this token to BTC colored coins. It would be great to have a protocol for this. So we will try also to create a protocol for token/asset transfer between blockchains. Assets issued on NXT or ETH can be transferred to ETH.
Q: Why not proof of work?
A: Proof of work might be more secure in theory, but I still consider it to be not the most elegant solution to consensus problem, due to wasted computational resource. Something better will come, I’m sure about that. Meanwhile POS is the way to go.
Q: POS consensus system is that the same as the NXT system?
A: Yes, at launch we’ll have “plain vanilla” POS. There will be some improvements later, I’m considering a new POS scheme which seems quite elegant to me.
Q: Is PoS really suitable for a primarily asset based chain? Normally in PoS you’re intending on trusting the majority of the wealth, but with an emphasis on assets, the majority of wealth may be the assets themselves, so instead you’re trusting the majority of uninvested wealth. Is that still sufficient?
A: There’s a very interesting development in this direction now, which James (jl777) is persuing with BTCD — Sidechains secured by assets. So an assetcan secure its own chain. If you secure the whole network with assets you may face some problems, the most obvious is asset issue is not limited, there can be quasi-infinite amount of issued assets.
What I plan to do with POS is to start with a plain NXT-like
one, and then upgrade it to some kind of more robust. A bit similar to delegated POS but the tech will be very different.
To be frank I consider classical POS good enough for all intents and purposes. Nothing at stake arguments are more of purely theoretical nature.
Q: Can you tell whats the current situation on Cryptoassets?
A: Our NXT assets will be transferred to WAVES blockchain! Also there’ll be a swap procedure announced at nxtforum.org
Q: Will assets from NXT be directly transferred as Assets on Waves or will they just be redeemed for equivalent value?
A: Yes, a burn mechanism is in the dev roadmap so assets can be effectively moved towards Waves platform.
Q: Will Multigateway be configured for Waves so there can be influx of other cryptos into the system?
A: Yes! We will support Bitcoin at launch, and ETH soon after it. New coins will be added too.
Q: Why should be Waves better then NXT?
A: Waves will be platform with emphasis on custom token creation, transfer and decentralized trading, with deep fiat integration, focus on crowdfunding, community-backed projects and mass adoption.
Fiat assets will be backed by third-parties, payment systems, and banks. Fiat tokens on Waves blockchain will be right at launch.
One of the goals will be also to create a protocol for token/asset transfer between blockchains. Imagine you have a token on NXT, ETH platform and would like to move this token to BTC colored coins or Waves blockchain. Assets issued on existing blokchains will be able to be transferred if protocol is implemented on both sides and you can enjoy then features of many blockchains at the same time.
Q: Will Supernet move its assets from NXT to Waves platform?
A: All assets will be able to migrate to the other blockchains, not only to Waves but also to Btcd blockchain, even to Btc after asset protocol is implemented in the code on the both sides. For example you will be able to migrate specific amounts of your assets to different blockchains at the same time and use features of SuperNET also. Waves blockchain will be “cooperating”(two-way transfer) all the time with all blockchains which implement new asset protocol.For the blockchains that don`t implement it, it will be one-way and one-time transfer only.
Q: I am still trying to understand how the token holders get a ROI, revenue streams etc
A: Waves will be the fuel for everything in the platform, there will be options to ‘pay these fees’ with another currencies also, but in the background, everything is done with Waves. Revenue streams — by trading tokens which are backed by unique tech, fiat tokens and usage of the platform potential, full fledged crypto crowdfunding platform potential, mass adoption potential, financial license potential, project who would like to be on the waves platform will have to have some tokens most probably, full nodes incentives.
Q: If I understand correctly, waves is some kind of Uphold or Openledger with the main difference being the ability to crowdfund? What’s your plan in order to compete with Kickstarter ? Lower fees ?
A: WAVES is colored tokens blockchain platform, like NXT, having its own blockchain and integrated decentralized exchange. Our unique selling point compared to Kickstarter is the ability to exit your pledge. If you pledge some funds at kickstarter you have to wait for your product, you can’t transfer it to another user for example. Also you can start a campaign much faster on Waves then on Kickstarter, there are no moderators who approve your campaign. Of course the fees are much lower too, basically the fees are zero, compared to Kickstarter fees.
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