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Bitcoin gateway
The Waves bitcoin gateway allows users to deposit and withdraw bitcoins to and from the Waves blockchain. Coinomat servers process bitcoin deposits and exchanges them for the equivalent amount of the WBTC token. This can be sent quickly and at low cost between users within the Waves blockchain. Upon withdrawal, the gateway conducts the same process in reverse, swapping WBTC for BTC, which are sent to a designated bitcoin wallet address. WBTC are always backed 1:1 by real BTC.
The gateway means that Waves can function as a kind of ‘sidechain’ to the bitcoin blockchain, offering greater speed and efficiency, but always giving users access to their bitcoins when they wish to withdraw them.
Android app
The Waves client is now available as an Android app. This can be downloaded from Google Play. It is a convenient way to access your Waves account on the go from a mobile device, and offers much of the functionality that the fully-fledged lite client does in the Chrome app. It is possible to import the SEED from which an existing address has been created, in order to use the same account from multiple locations and devices.
Things happening in the Waves ecosystem
Waves development is highly active, with numerous features and approaches being prepared.
The Decentralised Exchange (DEX) will enable users to trade Waves tokens peer-to-peer, directly from the lite client. The DEX back-end code is complete, with release pending front-end integration.
Fiat gateways are being implemented, starting with a Euro gateway. This will allow users to transfer fiat on the blockchain, with the lower costs and greater speed this provides.
Balance leasing (LPoS or Leased Proof-of-Stake). WAVES holders will be able to lease their balances to full nodes to help secure the network and receive rewards from transaction fees, while maintaining full control of their funds at all times.
Transaction fees will be payable in tokens, subject to full nodes accepting them as payment. WAVES will always be accepted, but this feature means that applications built on Waves will not have to worry about the additional friction and complexity of providing a second currency for fees.
Improved Authenticated Dynamic Dictionaries
Smart contracts roadmap, which are to be implemented on Waves. These will be non-Turing complete, but still extensive and powerful.
Rising transaction volumes
Since the beginning of February the number of transactions on the Waves blockchain has been increasing rapidly. It currently averages around 5,000 tx/day, though as many as 15,000 have been recorded. For comparison, Ethereum sees around 60,000 transactions per day and bitcoin around 300,000. Few cryptocurrencies have such high levels of activity, with even Litecoin averaging around 7,500 tx/day.
As new businesses launch tokens and use cases on Waves and as the DEX comes online, we expect to see transaction volumes increase further and significantly, driven by real-world adoption – rewarding mining nodes and those who lease their balances to them.
For more information, visit www.WavesPlatform.com
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