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The Growing WAVES in the Crypto Ecosystem
Aside from existing token creation and transfer features, the client now offers a bitcoin gateway to allow BTC to be securely stored and transferred on the Waves blockchain. Transaction volumes on the network are rising rapidly.
An updated version of the Waves lite client has been released, with powerful new functionality aimed at real-world use cases. As before, the lite client offers a familiar and straightforward user experience, and requires no blockchain downloads – making it suitable for anyone to get started with cryptocurrency applications. The client can either be downloaded and run as html, or as a standalone Chrome app that automatically updates when new versions are released. The network is secured by full nodes run by members of the community. For security reasons, a minimum of 10,000 WAVES is currently required to run a mining node.
Token facilities
In addition to being able to transfer the native WAVES currency, which is the fuel for the Waves platform, the lite client makes it extremely easy to create and send new tokens. Custom Application Tokens (CATs) are secured on the Waves blockchain and can be launched in minutes. These assets are shown in the Portfolio tab in the wallet.
Mass distribution to a large number of addresses is also possible, making Waves the ideal platform for crowdfunding and distributing new tokens. This has made Waves attractive for a growing number of blockchain businesses and applications. These include:
Waves Community Token. A token used to reward WAVES holders through periodic airdrops and engage the community, including in the process of collective due diligence for new crowdfunded projects.
Incent. A blockchain-hosted loyalty programme, based on the principle of ‘Open Value’ rather than the restricted value of traditional rewards points.
Bankcoin. A far-reaching initiative to introduce cryptocurrency payments into universities in Latin America.
Upcoin. A project launched by a Russian political party to engage and reward active members, and use the blockchain for voting. This is the first ever blockchain platform used by a political party.
Ripto Bux. A community project founded around the idea of a tipping currency, Ripto Bux (RBX). A Slack tipbot enables anyone to create, send and receive Waves tokens as tips, with RBX being the default tipping currency. Ripto Bux also uses the BlockSwap technology developed by Incent to transfer tokens securely between the Waves and Ethereum blockchains.
New projects are coming to Waves all the time. On 25 April, MobileGo will launch a major crowdfund to drive cryptocurrency adoption within the gaming sector. Over the coming weeks and months many new businesses will launch their own tokens and crowdsales on Waves.
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