Waves Protocol

Waves Protocol (formerly Waves Platform) is a member of the Waves Association structure, headquartered in Frankfurt am Main.

History

2020: The first loan for cryptocurrency was issued in the Russian Federation

On August 19, 2020, it became known about the issuance in Russia of the first loan secured by cryptocurrency. It was received by entrepreneur Mikhail Uspensky through the conclusion of an individual bank loan agreement. The escrow mechanism was used in the structuring process. Read more here.

2019: Smart Accounts and Smart Assets Availability

On January 29, 2019, the open source blockchain platform Waves released an update that includes two types of own smart contracts: smart accounts and smart assets. Waves is hosted in the Microsoft Azure cloud and the introduced functionality for January 2019 is already available to developers on the Azure Marketplace. Two virtual machine templates in Azure will allow you to deploy a variety of capabilities in both public and private blockchain, according to Waves.

"Unlike similar solutions, Waves' Turing-incomplete smart contracts have a high system safety and vulnerability protection due to the inherent limitation of functionality to avoid unwanted use cases. A special extension for the code editor Microsoft Visual Studio Code will make it easier for developers to create smart accounts and smart assets and allow them to do it in full integration cloud Microsoft with Azure. " Alexander Ivanov, founder and CEO of Waves Platform

According to the developer, the functionality of Waves smart contracts can be used in various cases and be useful for both business and individual users. Waves represents the ability to implement smart contracts into business processes, ensuring their transparency and security. For example, according to Waves developers, the use of smart contracts for tasks in supply chain management and legal processes will allow companies to save up to 30% of employee time. Other possible areas of use can be coordination of documentation, organization of internal calculations, submission of reports, etc.

As noted in Waves, smart accounts can be used in various processes, where it is necessary to ensure that the parties perform certain actions without intermediaries. Their functionality allows you to implement accounts with multi-signatures, atomic swaps, two-factor authentication, data oracles, etc. For example, smart accounts with multi-subscription provide a higher degree of transaction security, since they require the approval of two or more users.

In turn, Waves smart assets allow scripts to be applied to tokens. When each new smart asset transaction is carried out, it will be confirmed first by a script, and only then hit the blockchain. Scripts can be used to freeze a token and prevent it from being sent until a certain blockchain height is reached, whitelisted/blacklisted to send an asset to specific addresses, manage pairs of assets, etc. Smart assets can be used, for example, in the gaming industry to tokenize various items. They will allow you to establish certain conditions for the use of digital objects within the game, according to Waves.

The Waves Keeper extension for the Microsoft Edge browser has also been released. According to the developer, Waves Keeper is a tool that allows you to sign transactions and provides high protection when working with services and applications on the Waves platform. This extension allows users to manage their private keys, as well as safely communicate directly with Waves-enabled web services and decentralized applications (DApps). Waves Keeper is used for both open and closed blockchain.

The Waves platform has been available in the Azure cloud since 2017. The company plans to introduce Turing-complete smart contracts, which, according to the developer, will provide a wider range of functions for users of the Waves ecosystem.

2017

As of 2017, Waves Platform is a decentralized platform for crowdfunding and releasing digital values. This is a blockchain project with Russian roots. The Waves crypto platform is aimed mainly at issuing, trading and exchanging assets/own tokens on the blockchain. One of the main features of the project is the focus on ease of use and mass implementation. Four basic components of Waves, open source platforms: cryptocurrency, blockchain, a decentralized, consensus-based confirmation mechanism, and a community of miners serving the network. Proof-Of-Stake is used as the consensus algorithm.

Activating Waves-NG

At the end of 2017, Waves-NG was activated, providing unprecedented throughput of up to 1000 transactions per second, with validation of each transaction taking no more than a few seconds.

Partnership with CROC

• Waves Blockchain Platform and the company CROC signed a partnership agreement in December 2017. Cooperation of companies will be carried out in the field of introduction and promotion of products based on blockchain technologies.

• The cooperation between CROC and Waves Platform will start with a pilot project to create a digital infrastructure (Decentralized Digital Depository) for custodians, clearing centers, investment banks and other financial institutions. The system developed by Waves Platform and CROC will allow professional financial market participants to maintain the assessment, accounting and storage of cryptocurrency assets of their clients (at the initial stage - Waves, Bitcoin and Ethereum), as well as confirm their ownership by official statement in the formats adopted in the industry (MT 535 and ISO 20022). The solution will be able to simplify operations with cryptocurrencies and, ultimately, make them more manageable and attractive to large investors.
• Another area of ​ ​ cooperation between companies may be the implementation of joint projects to create a trusting environment between participants in distributed state or corporate processes. The use of blockchain platforms for independent and mathematically justified verification of the reliability of information guarantees the impossibility of trace-free erroneous or fraudulent actions within the framework of business processes. Sharing experience and combining expertise in joint activities will allow Waves and CROC to solve customer challenges in the most efficient way possible.

Partnership with GPB Digital to promote ICO services

GPB Digital, a digital division of Gazprombank, and the Waves blockchain platform announced the signing of a memorandum of strategic partnership on August 2. The goal of the partnership is to promote the benefits of integrated services for conducting ICO (Initial Coin Offering) and individual blockchain solutions among enterprises in the real sector of the economy, primarily in the metallurgical and mining sectors.

GPB Digital develops fintech solutions for banking clients, including corporate and institutional clients. According to this memorandum, GPB Digital will promote among companies in the real sector of the Russian economy, including from the metallurgical and mining industries, the advantages of the innovative financing mechanism ICO. The Waves platform will provide technology solutions for implementing innovative crypto financing mechanisms.

Blockchain technologies are gaining momentum, already today allowing tech startups to raise significant funds in cryptocurrency. ICO is best suited for mid-size and small-size venture capital projects, but should not be limited to the field of technology alone. We see great potential for introducing innovations in cryptocurrency financing in the real sector of the economy - in particular, in projects in the metallurgical and mining sectors. We are glad to cooperate with the Waves platform and are confident that our joint efforts will help cryptocurrency investors successfully invest in real projects that meet high standards of financial stability and risk disclosure, "said Maxim Ermilov, CEO of GPB Digital

GPB Digital also intends to improve the quality of projects offered to ICO investors and bring the standard of financial analysis and risk disclosure closer to that which qualified investors rely on when investing in traditional financial instruments.

Our partnership is an important step towards the massive use of blockchain technologies. Currently, the ICO area is unregulated and carries significant risks for investors. Our strategic partnership with GPB Digital, a subsidiary of Gazprombank, will allow us to generate a stream of high-quality transactions for cryptocurrency investors around the world. This is an important step forward for the entire blockchain industry in Russia and the world, - Alexander Ivanov, founder and CEO of Waves, is convinced

Start the Ether Payment Gateway

The Waves platform has already successfully launched bitcoin, USD and EUR gateways, and on July 17, 2017 announced the launch of the Ether gateway in its Lite client - thereby opening up more opportunities for decentralized trading. The gateway allows users to store ETH and exchange it for other tokens on DEX.

The ethereum gateway works in a similar way to the existing bitcoin gateway: users send ETH to the specified address inside the client and receive Waves tokens in return. These tokens will be provided by Ether in a ratio of 1:1, and they can be output and exchanged for ETH at any time.

Meanwhile, Waves ETH tokens can be safely stored and transmitted at the speed and cheapness of the Waves network as long as they remain in the Waves blockchain ecosystem. In particular, it will be possible to exchange them for other Waves tokens, including WBTC and WAVES itself. This means that users on DEX can directly exchange ETH between themselves for BTC, WAVES, USD and EUR, as well as any other tokens. Thanks to the centralized selection of Waves orders, DEX is approaching the traditional exchange in speed, but with the security of settlements provided by the blockchain.

"We are very happy to add another gateway to the Waves client," comments Alexander Ivanov, CEO and founder of the Waves blockchain platform. "Ethereum is the most popular blockchain platform after Bitcoin itself, and it is important to offer users the opportunity to trade ETH on a decentralized exchange. Over time, we will add more coin floodgates, increasing our appeal, and allow not only trading, but also crowdsales on Waves, which will allow you to collect a whole range of cryptocurrencies directly. "

Partnership with Deloitte CIS

On July 4, 2017, Deloitte CIS and Waves blockchain platform, one of the largest developers of blockchain solutions, signed a memorandum of strategic partnership. The main task of the partnership is to provide clients with complex solutions in the field of primary token placement (ICO) and develop individual blockchain solutions that take into account the peculiarities of the tasks facing companies. By this time, many startups had conducted their ICO on the Waves platform: MobileGo, ZrCoin, EncryptoTel, etc.

"Blockchain technologies are becoming more and more widespread and today allow startups, investors and other stakeholders to quickly raise large funds in cryptocurrency. Nevertheless, the cryptocurrency market exists relatively recently, and not all mechanisms for regulating it have been worked out. Therefore, we are pleased with the possibility of cooperation with the Waves blockchain platform and are confident that the result of the joint work will be the formation of the necessary conditions for the legal regulation of projects in the field of blockchain both in Russia and in the CIS region, "says Artyom Tolkachev, Director of the Department of Consulting on Taxation and Law, Head of the Group for the Provision of Legal Services for Technological Projects of Deloitte, CIS

partnership is a great step towards making blockchain technology mainstream. Currently, the activities of blockchain companies are not regulated in any way, since there is simply no legislation. Our strategic partnership with Deloitte is an opportunity to actively shape this regulatory landscape. Being part of this process is important not only for us, but also for the entire blockchain industry in Russia and the CIS, "comments Alexander Ivanov, founder and CEO of Waves

ICO Primalbase на 3100 BTC

On June 26, 2017, the blockchain project for renting collective office space Primalbase sold tokens for a total of 3,100 BTC per day during the ICO (Initial Coin Offering) on Waves Platform. Most of the 1,000 tokens sold by the team were purchased at a bonus price of 3 BTC per unit. Read more here.

RUIG Drinks and Bites bar becomes first company in Holland to host Waves

On June 22, 2017, it was announced that the RUIG Drinks and Bites bar in Ede was the first Dutch company to accept the Russian cryptocurrency Waves for payment.

chose WAVES because of the big prospects this cryptocurrency opens up. We also wanted to please our visitors, many of whom are Wave holders. We try to be original not only in terms of the choice of beer, wine, gin-tonic in our institution, but also in the methods of payment. In addition, traditional banking transactions are associated with high costs, and we would like to reduce them, "notes Marley Grevland-Kenders, co-owner of the institution

Cryptocurrencies are just beginning to gain popularity in the Netherlands, she said. However, thanks to the attention of the press and local television, she expects the number of supporters of the use of cryptocurrencies in the country to increase.

The Waves cryptocurrency was released in 2016 by entrepreneur Alexander Ivanov. Its value in the market has increased significantly. In May 2017, the price of one token crossed the $1 mark and rose to $5 by June 2017. As of June 22, the total capitalization of WAVES is about $500 million, and according to this indicator, the token is included in the TOP-15 of cryptocurrencies in the world.

Payment Gateway for Dollar Transactions

Since June 2017, Waves client users can use a secure gateway to deposit dollars USA and receive tokens in return, 100% secured by dollar foreign exchange reserves. Such tokens can be kept on the account, transferred, exchanged for other assets quickly and at low prices, as well as output back through the gateway to the traditional financial system if necessary.

In addition to launching the dollar gateway, some small updates were added to the latest version of the client, including a confirmation mark near the name of the tokens of the ZrCoin, CryptoPing and PrivateBANKX projects.

Payment Gateway for Euro Transactions

On May 24, 2017, the Waves blockchain platform announced the opening of a fiat payment gateway for exchanging the official European currency for tokens. The gateway supports storage and operations with tokens based on blockchain technologies, withdrawal from the account with reverse conversion.

WEUR

Waves Euro token is provided on the basis of a financial agreement with a fully licensed partner working in this area. All regulatory requirements, including KYC and AML, are provided by the partner both at the time of receipt of funds in the blockchain and at the time of their withdrawal from it.

WEURs are cryptographic tokens that can be sent or accepted around the world quickly and with low fees. The security of storing and trading tokens is ensured through the effective mechanisms of blockchain technology that underlies the platform.

This is a major step forward for both the Waves platform and the blockchain world as a whole. Waves users can now exchange bitcoins, Waves and other Waves tokens for an asset secured by euro deposits in a ratio of 1:1, as well as display them with conversion into euros at any time. Alexander Ivanov, founder and CEO of Waves

Blockchain as a means of saving

Waves is not on a mission to try to replace the money. We already have money - these are dollars, euros, bitcoins and other currencies. However, we know that with blockchain we can improve them, make them more transparent and more efficient. Alexander Ivanov

To support the launch and acceleration of the process, Waves will place €100,000 on the platform using the gateway and make the received WEUR tokens available, opening the possibility of exchanging them for BTC and WAVES in DEX. Users will have the opportunity to trade WEUR and use tokens without the need to deposit funds through the payment gateway. Inside the blockchain system, WEURs move freely, without any additional control mechanisms. AML/KYC checks are made only when holders withdraw funds to a bank account.

DEX Decentralized Exchange Launch

In April 2017, the Waves team successfully launched the DEX decentralized exchange, a fast and secure tool for trading popular cryptocurrencies.

2016: Conducting its own ICO for 30,000 BTC or $16 million

In June 2016, Waves completed an ICO (Initial Coin Offering), during which it raised more than $16M (30,000 BTC). In terms of crowdfunding investments, it entered the top 10 most successful blockchain projects.