WAVES Open-blockchain financial platform. Blockchain for the people.






  • WAVES is a decentralized platform that uses custom blockchain tokens to represent value. Tokens can be issued by any platform user, and can be transferred, swapped, and traded on an integrated decentralized exchange. Tokens may represent a share in a crowdfunding project, financial instrument, or any other item with inherent value. Traditional centralized crowdfunding and trading platforms rely on a third party to maintain the platform, thus sacrificing transparency and becoming prone to failures due to over-centralization. Blockchain technology allows the elimination of any centralized point of failure, storing all the platform data on all system nodes in a distributed fashion. It makes fully decentralized trading, crowdfunding and value transfer possible.

    Traditional finance

    WAVES also makes it possible for traditional financial institutions to issue and support blockchain tokens representing national currencies and financial instruments. This connects WAVES to the world of traditional finance, allowing KYC/AML-compliant business practices supported by decentralized technology. It offers traditional institutions access to blockchain technology with low maintenance costs, providing transparency and access to new markets.

    WAVES platform

    Our new website is currently under construction, please keep tuned for news and announcements on our social media channels!

    Follow this link for instructions on how to withdraw your ICO tokens and find links to our Alpha Lite client releases below:


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    Whitepaper


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  • Waves Lite Client released - Chrome v0.4.4


    Bug Fixes

    • #header-wPop-backup: Standardized paddings. (8ca5e60)
    • #seed-whitespace-popup: Applied bolded and uppercase txt to the choices of the new dialog description. (63883ed)
    • #seed-whitespace-popup: Fixed some bugs and finished standardized style. (6d9eb06)
    • buttons, popup texts: Fixed some differences between buttons across GUI, fixed padding in some notices. (88908bc)
    • html: Fixed duplicate transaction table identifiers (3a45a62)

    Features

    • #mBB-token: Created new tab for Custom Tokens, added custom scrollbar ++ (19d138d)
    • account: notification when seed has trailing whitespace characters (37b5548)
    • address: address generation is done on lite client (4cc44a6)
    • wallet: transaction fee validation change (3d2f4d2)
    • Performance Improvements
    • SVG: Improved several SVG files size and performance. (13e1a0a)

    Downloads



  • App tokens revolution. CATS are coming!


    There’s some hype rising around appcoins recently, and I’d like to give our perspective on the subject. Waves is all about custom tokens, this is what we’re focusing on, and that’s we want develop as a major use-case. On the other hand it should be developed in the right direction, otherwise it can just fizzle out, regulators will be all over it, scammers could use the approach for their nefarious purposes etc.

    So let’s define first what appcoin, or apptokens, or custom application specific token is. Let’s use “Custom Application Tokens” name, or just CATs. I must say that I don’t really like appcoins, it is focused on monetary aspect mostly and has already had its portion of bad press a while ago.

    Apptoken or CAT is a cryptographically secured transferable blockchain token used as an integral part of application functionality, having a certain intrinsic value established at open market.

    Let’s break the definition down a little.

    Cryptographically secured means that classical public key cryptography is used to maintain the ledger, that is a token holder controls her tokens as long as her private key is not compromised (since the token is transferable)

    Token is actually an entry in a public ledger. Its interpretation goes beyond the ledger itself, and has to be determined externally, through applications that use the ledger. It is integrated in the application functionality, which can be done in different ways.

    Intrinsic value is attached to the token through application integration. As long as the application provides some value the related token has some value too.

    The actual token value is subject to price discovery at open market, that emerges naturally for blockchain systems. Their decentralized nature is conducive to emergence of trading platforms on top of them, also blockchain systems can have internal trading functionality.

    That all might be pretty abstract so let’s provide a quick example, showing how versatile this approach can be. Let’s say we start a social network and want to raise money for its development. We can launch an internal currency for our network, issuing a token on a public blokchain. Having it on a public blockchain might me be crucial, since its provides transparency and creates trust. Internal currency can be transferred within the network, certain services can be paid for with ut, and we make a commitment to provide a network-wide banner advertisement for, say, 100 tokens. If our network is successful it grows in size, we have a bigger user base and the ads, bought by advertisers, are shown to more people. It means that our token value has to rise too, since advertisers get more bang for their buck.

    Through issuing this coin we provide a valuable service for our social network users (value transfer), raise funds for development and even provide an investment vehicle. We’re able to raise funds directly from the crowd and social network users, who can see the value in the network since they use it. We don’t have to go to VC’s, we cut the middlemen and appeal directly to our users.

    It’s a very basic example but hopefully you can get the general idea. The nature of the tokens may vary, what unites all the different approaches is token integration into some external application and intrinsic value being determined through a certain price discovery mechanism.

    Of course the first example of CAT’s is Bitcoin native token and native tokens of thousands of cryptocurrencies that came after Bitcoin. In this case application is blockchain itself, native token is instrumental for existence of open blockchain systems. Such tokens can be called native CAT’s.

    Soon after Bitcoin emergence people realized that blockchains are nothing else but a distributed ledger, and, as such, it can store entries related to more than one token. So custom tokens emerged (NXT, Bitshares, Ethereum, Waves….). Their usage might be quite versatile, and is basically determined by an external application that uses them. They are just CAT’s, and the scope of their usage is limited by imagination only.

    Besides their usage in applications what attracts most people to custom tokens is their usage for fundraising. Cryptocurrency ecosystem has created so-called ICO (initial coin offering) scheme. Native tokens of a new coin are sold to investors, proceeds are used for development, and investors hope to make profit if the new cryptocurrency is successful. ICO’s are booming since it is pretty well defined scheme to raise funds for a blockchain related projects. Custom tokens will allow to expand ICO’s approach to cryptocurrency projects to a wider class of projects. Your application has to use a custom blockchain token as a part of its functionality, and there should exist a certain mechanism connecting the application success to the token value.

    The benefits for fund-raising are obvious, by addressing your user base you get not only money but also feedback, testers, and promoters. Crowdsale-type fundraising might be much easier to execute than usual VC-based investment, and, on top of that, each dollar raised through it is more valuable, since you get added value from your community. This is a fledging market which can turn the whole venture investment business around.

    Of course there are many obvious obstacles along the way. Custom tokens can be used basically for everything, but if you use them for fundraising you can’t use them for all types of projects.

    Let’s list certain approaches that should NOT be used.

    You can’t promise to pay dividend to the token buyers. It’s a securities offering. If you really need to do it go to Securities and Exchange commission and file for IPO.

    Tokens can’t represent equity in your company without approval from corresponding regulatory bodies. You can attach certain voting rights to them (meaning for example your users can decide on the development direction), but you can’t connect them to equity without proper legal backing.

    You can’t issue tokens and promise to buy them back with a premium later. It clearly constitutes a security offering; read up on Howey test.

    CAT’s are essentially a digital product with flexible value; you don’t break any laws if you sell them. They should be used in a working application, or at least in a mature prototype. They are NOT securities without proper registration with corresponding agencies, attempts to use them as securities are basically doomed and can be detrimental for the whole ecosystem.

    Please use CAT’s responsibly and they will become established as a major fundraising vehicle and can make tons of new projects a reality. We might experience a paradigm shift in business practices, it’s all still quite fragile so special care should be taken so we don’t get off the right track.

    I’m confident that in near future many new applications for new tokens will appear. Think about the way CAT’s can be used in YOUR application, you might come across some new and terrific idea.



  • Why CATs are the immediate future of crypto adoption



    TL;DR — The immediate future of blockchain adoption lies in the most basic form of cryptocurrency applications: ‘AppCoins’ or CATs, custom application-specific tokens.

    Mass adoption for blockchain-based money and a handful of other applications is just around the corner, albeit with many more on the way in the medium term. The first forms of widespread crypto will be almost as simple as it gets. Whilst technically nothing out of the ordinary, these ‘appcoins’ or ‘apptokens’ will give rise to distinctive new forms of economic activity, and pave the way for more complex use cases.

    Last month I wrote an article titled Blockchain’s Third Wave is going to be fun. Without rehashing it in detail, the basic tenet was that blockchain tech has matured significantly over the last couple of years — and, as importantly, so have the entrepreneurs and communities growing up around this suite of new platforms. Bitcoin started as a geek project (Wave Zero) and was established as the blockchain protocol from around 2011 (Wave One). 2014–15 were blockchain’s proving ground, a harsh but highly productive Cambrian explosion of innovation (Wave Two). We’re now entering Wave Three, which will see meaningful application and mainstream adoption. After the frantic creativity of the last couple of years, what’s interesting about this coming phase is that it’s far less about technology than it is about synergy and business relationships.

    Custom application tokens (CATs)

    Whilst the crypto world is still a Petri dish of innovation and evolution (and yes, you can grow some pretty unpleasant things in Petri dishes, as well as discovering Penicillin), there’s just a small number of projects that I think currently have a shot at real adoption. Many more are coming, of course, but right now they are comparatively few and far between. The big ideas are starting to break through into the mainstream, but it’s still early days.

    There is some really cool stuff you can do with blockchains, though the use cases and full implications aren’t entirely clear just yet. Smart contracts, for example, are an amazing idea, but we’ve learned the hard way that Ethereum might not be quite ready for mass adoption. Realistically, it might be another five years before we start seeing those applications in our daily lives — whether we recognise they’re there or not. It’s a question of baby steps, and right now the applications are using just about the most basic functionality there is: the ability to transfer tokens on a peer-to-peer basis, outside of any centralised control. Companies are after nothing more than what bitcoin has been doing for almost eight years.

    Take the Incent project, which I’ve been involved in for two years. It’s a custom asset on the Waves blockchain: about the simplest form of token there is. If you’re creating an apptoken, you can go about it in different ways. You can create your own blockchain, probably by cloning bitcoin. That gives you complete control over network parameters but leaves you with the job of actually creating the protocol, as well as securing and maintaining the network — not something most businesses will want to get their hands dirty with. You can create tokens on bitcoin using a protocol like Omni, which is a little like cleaning your ears with a biro lid — people do it, but it’s not what it’s designed for and some tend to view it with a degree of distaste. Alternatively, you can use a 2.0 platform that is expressly designed for the purpose, makes it really easy and ensures that you have all the flexibility you need to create a token that will do the job you need it to. Waves makes launching custom tokens really easy.

    Appcoins, Apptokens, Custom Application Tokens (CATs) — whatever you decide to call them, this is where the immediate future is for crypto adoption. It’s a simple application for crypto with obvious benefits in particular situations.

    Endless applications
    AppCoins or CATs are already starting to see mainstream adoption, and it’s not hard to see why. In the vast majority of cases, complexity is the enemy. It’s not the unique properties of a specific blockchain that are needed. It’s the properties common to all crypto: fast, low-cost, peer-to-peer transfers without third party involvement or intervention. And critically, being able to access those features with a minimum of effort.

    Take the growing interest in money transfer on the blockchain. This has been pioneered by companies like Tether, though there is a vast ($600 billion) remittance market waiting to be revolutionised. Fiat transfers are a major strand of what Waves will offer; ‘gateway’ companies will hold funds in audited, insured accounts, and will issue tokens representing dollars and other national currencies. These will move freely around the world on the blockchain, with practically zero friction.

    Technically, these tokens are nothing special. They are Waves CATs, and have no intrinsically noteworthy properties above any other cryptocurrency. What matters for businesses is that they can be created and used quickly, easily and cheaply — something at which Waves excels. Moving money around on the blockchain could bring enormous efficiency savings for big companies like Amazon, eBay and Google, let alone smaller businesses that struggle with the time-consuming and expensive problem of shifting funds from one country to another.

    This approach will be used by far more than banks and financial institutions to offer the ability to move fiat currencies around frictionlessly and borderlessly. There are as many applications as there are industries and sectors. Gaming companies frequently struggle with the problems of moving large amounts of money into and out of in-game economies; a native token for this solves many problems. Crowdfunding suffers from issues including high costs for cross-border transfers and an inability to exit a stake easily, something a custom tokens would solve instantly. CATs offer much for the music industry. Tokens representing a subscription in a magazine; a credit that can be redeemed for goods or services; in-app payment methods. Not a single one of these has to be any more complicated than the most vanilla crypto token.

    Keep it simple, stupid (KISS)
    Thus it is the very simplest of crypto solutions that is poised to hit the mainstream. We can over-complicate things here in crypto land. The world isn’t ready for smart contracts, zero-knowledge proofs, sidechains or most of the other cool stuff we’re routinely conversant with. For now, CATs — the most basic functionality — is all that’s required for mass adoption.

    As Jon Evans writes in a recent TechCrunch article, ‘What interests me most about cryptocurrencies is neither the “crypto” nor the “currency” part. What interests me is that they are decentralized, permissionless services, which rely on — and thus can be curtailed by — no central controller. People say the Internet is about disintermediation, but in fact an astonishing amount of our online activity is conducted via the five Stacks: Amazon, Apple, Facebook, Google, and Microsoft. The notion of disintermediating them some — now that’s interesting and disruptive.’








  • WAVES Weekly Update:



    Development Update

    We are fully prepared technically for full nodes launch in the coming days, and are discussing the release with our partners, so that they are also ready. The last few days have been a busy time, with different conferences and a hackathon. Although we are aware that our community is keen to see full nodes launched, we took the decision to delay it from the weekend in order to give the process our full attention — since this is something that should only be done once! Like you, we look forward to using a fully decentralised, stable and secure network in the coming days. Updates will be posted on Slack to begin with.

    Conferences and Events

    Digital October, where Waves has its new offices, is providing plenty of opportunities and there have been several major events for Waves this week. 8 November was the Blockchain School, at which Sasha delivered the Crowdfunding on the Blockchain seminar. Two days later was the Blockchain & Bitcoin Conference Russia, where he gave the seminar Blockchain tokens in business and finance. You can see Sasha in discussion in this (Russian language) video, taken whilst recording material for a radio interview, in which he talks about the use cases for blockchain at the current time.

    The other event is hackathon http://hack4people.ru/ that took place at Digital October over the weekend, November 11–13. Waves team presented decentralized 2FA prototype during the hackathon, the source code is available already on GitHub.

    CATs

    You may have noticed a series of articles and posts about CATs. These are Custom Application Tokens, Waves’ name for appcoins. Based on observation and experience, we believe that these simple tokens are a major use case for blockchain, and very likely the first frontier for mainstream crypto adoption. Waves will be working hard to make it easy for anyone to create, transfer and trade their own CATs, which have applications from fiat gateways and loyalty to crowdfunding, music downloads and digital sales.

    Waves Weekly Crypto Roundup

    We have another edition of our WWCR film, with Grace Watson. Guests this week include Steven Grove (@sigwo), founder of the Darcrus project, and Sergey Sergienko from the ChronoBank initiative — both of which will be launching tokens on the Waves network.



    Press and Articles

    We’re Entering an Age of Cat Money

    Why CATs are the Immediate Future of Crypto Adoption

    App Tokens Revolution. CATs are Coming!

    Withdraw your WAVES from Bittrex

    Enhancing Scalability with Improved Authenticated Dynamic Dictionaries


















  • Waves Releases Full Nodes and Assets-Waves weekly

    This week we celebrate the launch of full nodes and asset creation! We realise this has taken longer than originally planned, and thank the community for their patience. Final bugs were fixed last week but with the large number of conferences and other events taking place in Moscow, we felt it was better to launch this week when we could give it our full attention.

    The launch took place in stages, with full node code first being provided to Bittrex, as well as running on our developer nodes. We carefully monitored the network and, once we were satisfied that all was running smoothly, we made the code available to the community. Anyone can now download and run a Waves node.

    Full Nodes Resources

    You can run a node on a Windows, Linux (Ubuntu/Debian) or Mac machine. The latest releases (currently v0.3.4) can be found at https://github.com/wavesplatform/Waves/releases/.

    There is no minimum number of WAVES required to run a full node. However, if you want to generate blocks then you will need a minimum balance of 10,000 WAVES. There are plenty of resources for those who want to run a node (read the installation guide here), but it is expected that mostly it will be more experienced users who will do. In due course we will release balance leasing, which will allow anyone to lease their WAVES to an active node and receive rewards from block generation.

    You can always download the latest versions of the Lite client from https://wavesplatform.com. Please be aware that there have been issues with a fake github repository claiming to offer v0.4.4 of the Lite client. The latest version is v0.4.3a.

    Next Steps

    With a fully decentralised network and the ability to create custom tokens, Waves’ core functionality is in place. In the short term, the next step is to make this functionality more widely available through the Lite client. This is currently in development. At present, businesses are still able to create their own assets via the API, but most users will not want to do it this way and it will be far easier to send and view asset balances when the Lite client supports this.

    Custom tokens are also fundamental to one of Waves’ flagship propositions, fiat gateways. Gateways require little in technical terms beyond the ability to create and transfer assets, with much of the work concerning compliance and administration. We expect the first gateways to start this work soon and will keep the community updated about progress.

    Further milestones involve the DEX (decentralised exchange), which will allow trustless asset-to-asset trading. This will also make it possible to pay transaction fees in the same token that is being transferred — for example, USD can be used to pay the tx fee when sending USD. We will also incorporate encrypted messaging, which will likely be an off-blockchain solution for greater security and to reduce bloat. Balance leasing will also allow us to move to a leased proof-of-stake (LPoS) model.

    Further down the line, functionality such as voting, a decentralised reputation system for assets and even a form of smart contracts will be added.

    Waves Weekly Crypto Roundup

    The latest episode of the Waves Weekly Crypto Roundup with Grace Watson has been released. This week, we have a new organisation giving us an overview of the bitcoin markets. We also have a new section on crypto startups.


    Press and Articles

    WAVES Releases Full Nodes and Assets: A Novel Approach for Public Blockchains

    We’re Entering an Age of Cat Money

    Why CATs are the Immediate Future of Crypto Adoption

    App Tokens Revolution. CATs are Coming!

    Withdraw your WAVES from Bittrex

    Enhancing Scalability with Improved Authenticated Dynamic Dictionaries









  • Testnet Lite client v0.4.4 (2016-11-25)


    Important notice!

    This release is for TESTNET ONLY. Mainnet version of the Lite client will be released soon!

    Completed migration to AngularJS 1.5.9
    Introduced npm and bower for dependency management.
    Created a core library to be reused in alternative clients (coming soon).
    Implemented asset issue functionality by adding two new tabs: Portfolio and Tokens.

    Features

    style: Fixed display of the dialog and buttons for asset transfer and confirmation (619a408)
    style: Eliminated unnecessary line breaks on the create seed screen (ca4617e)
    style: Revised hover effects on Portfolio table (dd056dc)
    style: Created new set of CSS rules for the token creation tab (05ffc44)
    style: Restyled elements on the Token Issuance area (6eff1fa)
    style: Applied non resize-ability to seed field (573d8b0)
    style: Fixed styling of the confirmation dialog on SEND WAVES. (6080f2a)
    style: Balance amount in SEND WAVES dialog fix. (36f281e)
    style: Created new class for all headers (bf255d6)
    html: Eliminated .jurl element and adjusted GUI in consequence. (6e69889)
    navigation: Slightly changed behavior of navigation icons. (4d24da2)
    address: migrated copy address to clipboard feature for tables with transactions (6282cde)
    address: remove 1W address prefix (8ab2ddd)
    assets: add an asset details dialog (b57c154)
    assets: add an asset transfer dialog (8234110)
    assets: add asset reissue (9c98c0f)
    assets: add controller stub for the asset issuance form (8e6cc03)
    assets: add form for asset creation (16abbc6)
    assets: asset transactions are displayed in transaction lists (d1ee486)
    assets: complete asset transactions generation (a5a1878)
    focus: add a directive for setting focus on default fields in forms (709a6fb)
    login: new wallet name must be no longer than 16 chars (6bb34c0)
    portfolio: add asset's attributes display (fb04bb7)
    portfolio: asset listing on portfolio tab (a4fda81)
    tooltips: migrate tooltips to a new directive - tooltipster (3b6e8c5)
    wallet: prevent from accidentally send a single payment several times (6a8d9d2)

    Bug Fixes

    history: couldn't copy addresses in the transaction table (b90d042)
    portfolio: reissue button was always enabled (79acf4c)
    scrollbars: Attempt to re-establish the previous state on scrollable areas. (5f67d50)
    style: remove account's outline which appeared on click (2f81a5f)
    style: remove tab icon's border when it has focus (9aed4e6)
    wallet: transfer transactions are correctly shown (9d6c6ce)
    wallet: wallet dialog fee and amount validation fix (d572c14)
    Performance Improvements

    lists: added track by expression to improve list rendering performance (6b6606a)

    https://github.com/wavesplatform/WavesGUI/releases/tag/v0.4.4



  • CoreMediaRadio interview with Waves Founder Sasha Ivanov



    https://soundcloud.com/coremediaradio/waves-fullno...





  • WAVES Weekly No. 19



    Network Overview


    It’s been a quieter week after the recent slew of conferences and events, then last week’s launch of full nodes, but there’s still plenty going on. Our developers and team of community testers have been monitoring the network to ensure that everything is running smoothly, and the first assets have been created using the API. You can gain an overview of what’s going on with the network by taking a look at http://wavesexplorer.com/, which shows recent blocks and peers. You can also download the Lite client from https://wavesplatform.com. Please do not download it from any other source, because there have been issues with a fake github repository.More experienced users may want to run a full node. The latest releases can be found at https://github.com/wavesplatform/Waves/releases/tag/v0.3.4. Any user can run a node, but you will need at least 10,000 WAVES to generate blocks. You can read the installation guide here.



    Updated Lite Client on Testnet


    The new token functionality is currently being integrated in the Lite client. You can find the latest version at https://github.com/wavesplatform/WavesGUI/releases/tag/v0.4.4 — please do download this and assist with testing if you are able to. You can also find the testnet lite client at http://testnet.waveswallet.io/.


    Roadmap Update


    After the last mainnet update, the new Lite client is to be released with asset functionality on mainnet. The next stage will be leasing transactions and Waves’ DEX (decentralised exchange).LPoS (leased proof-of-stake) is designed to allow increased throughput and greater security. Vanilla PoS has some theoretical security issues. PoS — as implemented in Nxt, for example — has never actually been compromised, but some critics claim that this is simply because there was never a great enough incentive to do so. For Waves we want to have a system that is secure from a theoretical point of view. In due course a tech paper will be published for peer review. For greater scalability we will be using our improved authenticated data structures, leading to a more compact blockchain.Two-factor authentication will offer users greater security still, and we also expect to see the first fiat gateways early in 2017. Alongside this Waves will be releasing a dividend plugin to enable issuers to distribute crowdfunding tokens, and a mobile wallet for use on the go, with asset functionality built in. The mobile wallet is currently in testing mode, so this will not take long.In the next few months, we will therefore have a comprehensive production-ready system that will be very attractive to the many businesses that routinely approach us for help with crowdfunding and other proposals.


    Business Development


    The release of full nodes and custom token creation means that businesses can start issuing and using their own CATs. Incent, a new kind of loyalty platform, is one such initiative and one of the first enterprise cases for the Waves blockchain. Incent has been running its own crowdfund, which is due to end on 30 November, and has so far collected more than $1 million in BTC and WAVES.With the imminent release of updated Lite client, we are now in a position to support business development and are talking to numerous organisations behind the scenes. It is Waves’ belief that mass crypto adoption will come initially through very straightforward functionality, by making custom tokens accessible to ordinary businesses.We have also been talking to more exchanges about adding Waves. This tends to be a relatively slow process, since decisions are carefully considered and reputable exchanges will always conduct a code audit before making new coins available — especially when they are built on a completely new codebase, like Waves. The community will appreciate that we cannot talk about specific partnerships with businesses or exchanges until these have been agreed. Anyone who has a business project and would like to work with Waves is invited to join our Slack to discuss it further and for technical assistance. Please email [email protected] for an invitation.


    Press and Articles


    WAVES Releases Full Nodes and Assets: A Novel Approach for Public Blockchains

    Black Friday-Cyber Monday Promotion on Incent

    What does Altcoin Success Look Like?

    How to Mine Waves?

    Why CATs are the Immediate Future of Crypto Adoption

    App Tokens Revolution. CATs are Coming!


    Papers


    Enhancing Scalability with Improved Authenticated Dynamic Dictionaries
















  • WAVES Weekly No. 20



    Development Update

    In the following days, we will be releasing the updated Lite client, which will make token facilities available to every user on mainnet. This is the foundation of fiat gateways and further business development, a great milestone to reach. You can always download the latest version from https://wavesplatform.com. Please do not download the client from other sources for security reasons. The other option is to download the standalone Chrome app, which will automatically update as new versions are released. Many users will find this more convenient and straightforward. In parallel to the development of Lite client, we released updated version of testnet, with new storage structure and API improvements. If you would like to run a full node on mainnet, you can find the latest release at https://github.com/wavesplatform/Waves/releases/tag/v0.3.4. Any user can run a node, but you will need at least 10,000 WAVES to generate blocks. You can read the installation guide here.


    New Developers

    It is with great pleasure that we introduce three new team members that have recently joined the team: Ilya Smagin(@ismagin) - Experienced in building, extending, and re-engineering one of large bank systems, developing gateway connectors to multiple liquidity providers and backend post-trade matching/processing. A developer with 7 years of experience, strong computer science and algorithms background. Sergey Tolmachev(@tolsi) - Participated for more than 4 years in the development of backend applications for the Web, Big Data and FinTech projects using Scala. Prior to that, he used a number of languages, methods and approaches to software development. Alexey Koloskov(@koloale) - A software developer with more than 12 years experience in different Internet, Telecom and Banking areas. He has broad experience in developing and leading full-fledged mobile and web applications from the ground up. In his everyday work, he always tries to use cutting-edge technologies and is willing to learn new programming languages and tools.


    Russian Fintech Meetup No. 2


    This week Waves attended the second fintech meetup held at the Digital October Center in Moscow, where Waves has its offices. The theme was trading in the era of bots and cryptocurrencies. Sasha delivered a talk entitled ‘Cryptocurrency: new perspectives for trading’, and there were further presentations and discussions in the areas of big data, blockchain and machine learning. Waves also held the second round of its {pro}fintech incubator at the HSE. The programme aims to help attendees develop blockchain products for financial applications, particularly for banks and their customers. These include personal finance management systems, p2p-services, investment systems and other fintech products.


    Business Development


    Now that CAT functions are available, we are seeing increased interest from initiatives looking to use Waves as an ICO platform. This week Incent completed its crowdfund, having raised 1,093 BTC and 1.18 million WAVES. Darcrus, who recently featured on Waves Weekly Crypto Roundup film, have also started their ICO. Several further companies are now seeking to do the same and it is clear that many more will in the coming weeks and months. Please remember that anyone is able to launch an ICO on Waves due to the open nature of the platform. In all cases investors are responsible for conducting their own due diligence to determine the legitimacy and chances of success for each project. However, anyone who has a business project and would like to work with Waves is invited to join our Slack to discuss it further, and for technical assistance. Please email [email protected] for an invitation.

    Press and Articles


    The First And Last Word In Money: How Bitcoin Is More Like Ancient Sumer Than The Federal Reserve WAVES Releases Full Nodes and Assets: A Novel Approach for Public Blockchains What does Altcoin Success Look Like? How to Mine Waves? Why CATs are the Immediate Future of Crypto Adoption

    Papers

    Enhancing Scalability with Improved Authenticated Dynamic Dictionaries










  • WAVES Q&A Session with Sasha Ivanov




  • WAVES Weekly -Development Update


    Development Update

    Now that full nodes and tokens have been launched and the network is stable, we’ll be moving onto implementing gateways (and assisting others to do the same) and working on the DEX, Waves’ decentralised exchange. Gateways will be used not only for moving fiat money onto the Waves blockchain, but as on- and off-ramps for other cryptocurrencies. This will enable users to trade any supported crypto or fiat currency against any other in a decentralised manner on the DEX. We will also be looking at implementing decentralised voting mechanisms.In parallel to all of these will be scalability updates, which will allow us to maintain a streamlined blockchain and minimise the resources necessary for running a full node. You can find more updates in latest Waves Q&A here.


    Waves Network

    The Waves community continues to establish a strong network. At the last count we had between 85 and 95 full nodes running, and the Lite client software has been downloaded more than 6,300 times from the start. If you would like to run a full node, please download the latest releases at https://github.com/wavesplatform/Waves/releases/. Anyone can run a node, but you will need at least 10,000 WAVES to generate blocks. You can read the installation guide here.For regular users the Lite client can be downloaded from https://wavesplatform.com. Do not download the client from other sources for security reasons. (Please be aware that there have been issues with fake github repositories, as well as fake Twitter accounts and Slack identities.) Alternatively, the standalone Chrome app will automatically update as new versions are released.

    Events and Networking

    The past week saw Scorex research fellow Dmitry Meshkov and Waves CEO Sasha Ivanov give presentations at the Moscow Blockchain Developers Meetup at the Digital October Center. Sasha and Dmitry discussed authenticated data structures and looked at different approaches to blockchain scalability. On Sunday, Sasha pitched Waves’ features to representatives from Microsoft in the company’s Moscow headquarters.Anyone who would like to work with Waves is invited to join our Slack to discuss it further, and for technical assistance. Please email [email protected] for an invitation.

    ChronoBank ICO

    Time-based cryptocurrency initiative ChronoBank is launching its crowdfund on 15 December. ChronoBank is raising funds for the marketing and development of its platform, which is aimed at disrupting the short-term recruitment industry. By partnering with labour-hire companies, ChronoBank will allow employers to connect directly with freelancers, who will be compensated with Labour Hour (LH) tokens. A reputation system and labour exchange allows workers to access appropriate remuneration for their skill level and location, and to sell their LH for other currencies.The ICO will accept a wide range of cryptocoins, and LH tokens will be issued on several different blockchains, including Waves. For more information, visit www.ChronoBank.io.

    Waves Weekly Crypto Roundup



    Episode #12 of WWCR has been released. This week’s episode takes our usual look at the bitcoin and traditional markets, and we catch up with Addy Crezee again. If you would like your project to feature on WWCR, please get in touch via Slack.

    Press and Articles

    Big Business and Blockchain: Linux vs Windows

    WAVES Releases Full Nodes and Assets: A Novel Approach for Public Blockchains

    The Frontier of Blockchain Adoption will be… Bitcoin Circa 2010 (NASDAQ)

    Read “The Frontier of Blockchain Adoption will be… Bitcoin Circa 2010 (NASDAQ)” in Chinese on Blockchain.hk

    How to Mine Waves?

    Papers

    Enhancing Scalability with Improved Authenticated Dynamic Dictionaries














  • Testnet Node v0.4.0


    NOTE Please remove and reload blockchain.

    New Delete assets transaction
    DEX Matcher was implemented as a part of the Full Node

    Downloads

    waves-0.4.0.jar
    waves-testnet-systemd-0.4.0.deb
    waves-testnet-upstart-0.4.0.deb
    Source code (zip)
    Source code (tar.gz)



  • Coin Interview with Waves, today at 7pm MSK / 11am EST






  • The dawning of the age of the ICOs


    Crowdfunding is big, and it’s getting bigger. That’s true in the real world, where a series of high-profile projects have given the idea a boost, but it’s now the default way of funding new crypto projects. Despite having some remarkable tech at our disposal, the crypto community doesn’t always do it very well. It’s time we applied some crypto rules to crypto crowdfunding.Crowdfunding has gone mainstream. Industry figures suggest that 2015 saw some $2.5 billion in equity crowdfunding alone, with the entire sector totalling $34 billion (including $25 billion in peer-to-peer lending and another $5.5 billion in rewards and donations). With the global economy still struggling and traditional sources of credit still dry, it’s only fair to expect this to grow.In the crypto world, 2014 was the year when the idea of the initial coin offering (ICO) took off. Up to that point, there had been far more of a culture of mining: new projects were secured and distributed on a proof-of-work basis, since this was seen to be somehow fairer than the idea of ‘pre-mining’ a coin and rewarding investors for the risk they took in funding the marketing and development of a new project.It was a steep learning curve and the community learned pretty fast that there could be downsides to crowdfunds. Trusting an often anonymous developer with a stack of crypto came with some predictable risks. It wasn’t long (though longer than you might expect) before safeguards were built in — escrow, multi-sig accounts and the like, to ensure that funds weren’t accessed until agreed milestones were reached. More and more developers came out of the shadows and gave their initiatives a public face.

    Software fit for purpose

    Even with the most honest and competent teams, investors were still taking risks. We’ve learned the hard way in crypto that a chain is only as strong as its weakest link; take a trustless system like bitcoin and add a point of trust (like MtGox) and you introduce a serious vulerability.The reality has been that a lot of ICO software is shaky and potentially downright dangerous. In many cases, ICOs are still a black box, with tokens being allocated on a database that is not only opaque but is potentially vulnerable to hacking or deletion. There is room for considerable professionalisation in this respect alone. Peter Godbolt, lead developer for the loyalty programme Incent, explains. ‘In setting up the Incent ICO we reviewed a few software applications, largely based on the traditional web app model of running a PHP application with a MySQL database. We were uncomfortable with this stack given its inability to scale without significant investment in sysadmin tasks, and also security issues — it simply didn’t feel right.’There is an obvious solution, though — to use the blockchain itself as a ledger and support this approach with software that would not only scale well but prevent even the issuing organisation from tampering with balances. ‘We determined to use Google Firebase, bringing a higher level of security and scalability, and we also decided to use the bitcoin and Waves blockchains as an open ledger for all investment — any investor can quickly and easily see the status of their payments via the many publicly available blockchain explorers. It’s a “trustless” system for confirming whether or not you made the latest discount level, or whether your payment arrived as expected. In the case of Waves investors, the security level is even higher, with Incent tokens being issued directly back to the address which sent the funds.’Incent is now making this software available to other ICOs that are using the Waves blockchain to host their assets. For a nominal fee, businesses will be able to use the software as a turnkey solution. In addition, Incent will be distributed to their investors as a primary use case for the reward currency and as a secondary reason for ICO investors to deposit — Incent is ‘baked in’ as a bonus to investors. There are a series of benefits to this for ICO issuers (security, an off-the-peg solution and added incentives), for Incent holders (buy pressure and adoption), and for Waves holders (transaction volumes, exposure and marketing). Incent has signed up its first customer for its ICO software, even before its own ICO ends — meaning there will immediately be real, non-speculative activity on the Incent market.This approach doesn’t solve all of the problems involved in crowdfunding, but it does move towards the limits of what is possible using a traditional approach. To go beyond this, it’s necessary to shift paradigms and look at what a fully decentralised platform can offer.

    Waves native crowdfunding functionality

    In due course, Waves will add further functionality that will make it a powerful crowdfunding platform in its own right. Since full nodes have now been released, along with token creation, it is possible for anyone to launch their own CAT (custom application token). One of the primary use cases for these is fiat gateways — organisations like banks and other financial institutions that will act as intermediaries between the blockchain and the traditional financial system. They will issue fiat-backed tokens — such as WavesUSD tokens that are given value by the same amount of actual USD, held in an insured and audited account. (This is the approach already taken by Tether.) In theory, anyone will be able to issue fiat-backed assets, but only the most reputable and transparent organisations will gain the trust of users.These gateways and fiat tokens will provide a way for ordinary retail investors to participate in crowdfunds with regular money. Having the Waves blockchain working on the inside means that it becomes possible to hold global crowdfunds without the inefficiencies and problems of the fiat banking system (high costs, delays, reversed or blocked transactions). Tokens issued for crowdfunded projects would be transferable, allowing them to be sold to third parties after purchase — unlike regular crowdfunding platforms, where no such mechanism for transferral exists.This also opens regulatory issues, since depending on the nature of a project it may act like a share or other form of security. This is a matter for the project issuer, the Waves platform simply functioning as a toolkit to enable whatever activity the issuer wants. However, further functionality can allow some protection from this. For example, it would be possible to issue tokens that can only be exchanged with the token issuer, instead of trading freely on the open market. As well as mitigating against the problems relating to the issuance of securities, this would also find application in the music industry, where it could be used as protection against ticket touts buying up tickets/tokens for an event and selling them on at inflated prices on the secondary market.

    Looking ahead

    Beyond gateways, Waves’ decentralised exchange (DEX) will allow for further security and convenience. Asset-to-asset trading in Waves’ core enables some powerful features. To date, it has been the norm that crypto projects raise funds in bitcoin, Ethereum and other cryptocurrencies. This has the advantage of being as borderless as crypto, but is not ideal from the perspective of budgeting. Volatility could hamstring a project that had apparently raised enough to be viable. Asset-to-asset trading means a business can set a given number of tokens for sale at a dollar value.With the API acting as a kind of advanced financial toolkit that provides building blocks of various kinds, a ‘Waves Inside’ approach gives crowdfunding organisations a series of new options to reach new audiences and provide greater efficiency and advanced security features. Organisations like Incent can integrate this into familiar customer-facing crowdfunding platforms, including whatever functionality they want from Waves as well as their own features, such as direct altcoin deposit for crowdfunding in a range of crypto coins, with different pricing and bonus structures for each. There is a high degree of flexibility whilst, at the same time, a far greater degree of protection for users. Add some smart contracts and you even remove the limited element of trust from escrow arrangements.With the rapid growth of both the crypto and crowdfunding sectors, the intersection of the two is a foregone conclusion. We’ve already seen a number of multi-million dollar ICOs; with software fit for purpose, it’s likely that many more will occur, as well as countless smaller offerings. And so while the future of crowdfunding may not look very different to how it’s done now, under the surface, everything will have changed.For more information about Waves, visit www.WavesPlatform.com.






  • WAVES Weekly Update:



    Merry Christmas!

    A very Merry Christmas from the Waves team! This will be our last update and film before the holiday.Sasha recently held an AMA answering many common questions. You can see the recording here, or read the full transcript here.

    Development Update

    Waves’ decentralised exchange (DEX, aka Matcher) has just been released on testnet. You can download the new update here and help with testing.Waves’ DEX enables asset-to-asset trading in the core, which means that any token will be tradeable directly against any other token — rather than trading two tokens separately against a reference currency. For example, it will be possible to trade Incent against WavesUSD, rather than requiring two separate steps: Incent → WAVES and then WAVES → WavesUSD. (WAVES is the de facto reference currency if no second token is specified.) Waves token will be the fuel of all operations happening on the platform.Moreover, the matching operations are also being tested in this release. This is an innovative new system that enables trades to be executed in near-realtime, but still be settled on the blockchain. Trustless HFT-enabled exchange combining off-chain order with on-chain settlement at the same time. Everything, including matching services is provided as all-in-one package in the full nodes and node owners can choose which services they provide: mining, matching or just some services through API.Meanwhile, we’re working on the first gateways. The Euro gateway is ready from an organisational perspective, but the tech needs to be completed. Other currencies will follow in due course (including cryptocurrency gateways, starting from Bitcoin). This will allow reliable remittance, crowdfunding and other important services to take place.The Waves community will hopefully appreciate the combined significance of these features and the fact that we are attempting to build a full ecosystem that includes everything users will need, rather than having an undue reliance on third-party technology and organisations.

    Waves Nodes and Lite Client Reminders

    If you would like to run a full node, please download the latest releases at https://github.com/wavesplatform/Waves/releases/. Anyone can run a node, but you will need at least 10,000 WAVES to generate blocks. You can read the installation guide here.For regular users the Lite client can be downloaded from https://wavesplatform.com. Do not download the client from other sources for security reasons. (Please be aware that there have been issues with fake github repositories, as well as fake Twitter accounts and Slack identities.) Alternatively, the standalone Chrome app will automatically update as new versions are released.

    Events and Networking

    Sasha spent part of last week in London. The main purpose of the visit was to discuss with a hedge fund the opportunities around investing in various projects in the Waves ecosystem. He also met with Microsoft in Russia last weekend. Although this was a technical presentation, the Microsoft representatives asked many questions about crowdfunding, seeing the potential for ordinary businesses conducting fundraising whilst remaining compliant.Business development is a key part of our marketing strategy. We are aware of the importance of material in the crypto and mainstream press, but adoption will largely take place through businesses building applications and driving use through their own customer bases. It is also our hope and expectation that most businesses using the Waves platform will run their own full nodes. This will not only help them to make transactions reliably, and maintain the security of the network, but will increase demand for the WAVES token since a minimum of 10,000 WAVES is currently required to mine.Anyone who would like to work with Waves is invited to join our Slack to discuss it further, and for technical assistance. Please email [email protected] for an invitation.Waves Weekly Crypto RoundupEpisode #13 of WWCR has been released. This week’s episode takes our usual look at the bitcoin and traditional markets, we find our more about ChronoBank and catch up with Addy Crezee again. If you would like your project to feature on WWCR, please get in touch via Slack.




    That’s all! Merry Christmas and have a great holiday.

    Press and Articles

    The Value of the Blockchain: The Medium is the Message

    Big Business and Blockchain: Linux vs Windows

    The Frontier of Blockchain Adoption will be… Bitcoin Circa 2010 (NASDAQ)

    Read “The Frontier of Blockchain Adoption will be… Bitcoin Circa 2010 (NASDAQ)” in Chinese on Blockchain.hk

    WAVES Releases Full Nodes and Assets: A Novel Approach for Public Blockchains

    How to Mine Waves?

    Papers

    Enhancing Scalability with Improved Authenticated Dynamic Dictionaries










  • **Waves Release Testnet Node v0.4.1** WARNING Because of fixing few serialization issues in the storage you have to remove the blockchain file during update to this version. Asset Delete transaction was renamed to Asset Burn transaction Bug in validation of Asset Burn (ex. Asset Delete) transaction was fixed Matching with invalid order was fixed in DEX Matcher Mass payment API method was added Serialization issues in blockchain state storage were fixed. Downloads [waves-0.4.1.jar](https://github.com/wavesplatform/Waves/releases/download/v0.4.1/waves-0.4.1.jar) [waves-testnet-systemd-0.4.1.deb](https://github.com/wavesplatform/Waves/releases/download/v0.4.1/waves-testnet-systemd-0.4.1.deb) [waves-testnet-upstart-0.4.1.deb](https://github.com/wavesplatform/Waves/releases/download/v0.4.1/waves-testnet-upstart-0.4.1.deb) [Source code (zip)](https://github.com/wavesplatform/Waves/archive/v0.4.1.zip) [Source code (tar.gz](https://github.com/wavesplatform/Waves/archive/v0.4.1.tar.gz)


  • # WAVES Weekly No. 23 **Welcome back — we hope you enjoyed your Christmas!** # Development Update ## Waves’ DEX (decentralised exchange), aka Matcher was released on testnet two weeks ago and is going through review/testing process. You can download the update here and help with testing. Please join the #fullnode and #testnet-maintainers channels on our Slack. As ever there are bounties for identifying replicable, serious bugs. In the meantime, Mass Payment and Asset Burn features were released on testnet and will be available on mainnet soon. ## Our aim with the Matcher is to build something both quantitatively and qualitatively different from the existing decentralised exchanges offered by other platforms, let alone centralised exchanges, with a view to mass-market adoption. Differences include: ## Speed. Waves assets are structured on a simplified payment verification (SPV) scheme that is based on improved authenticated dynamic dictionaries approach, which allows the system to scale with ease. Furthermore, a combination of the DPOS (Delegated Proof of Stake) and LPOS (Leased Proof of Stake) approaches will allow for processing the transactions faster and more efficient. Moreover, we are creating an order matching service that will allow trades to be executed in near-realtime, whilst they are still settled on the blockchain for security. This combination is unique. ## Flexibility. Instead of trading against a single reference currency (the native token of the blockchain platform), Waves will allow any token to be traded against any other token. As well as offering greater utility, since it will be possible to exchange currencies like CNY, EUR and USD directly, it avoids the problems associated with assets being priced in a single, rising or falling currency. ## Flexible fees. Orders (bids, asks and cancellations) can be placed without cost. The only fees are paid upon execution of a trade. Fees can be also paid in any token accepted by miners while WAVES token is being converted in the background and still used as a fuel. ## Increased Safety. Whenever user chooses to provide mining or matching services to earn fees, his tokens may reside in personal account all the time thanks to LPOS and assets specs. Furthermore, Waves team is aiming to bring 2FA on the blockchain. # Business Update ## We are actively working on setting up gateways. This is largely an organisational rather than technical matter. We have a series of related initiatives in the pipeline, though the community will appreciate that we cannot give details until these have been confirmed. ## In the ICO space surrounding Waves, the Tokes Platform and ChronoBank are currently holding their crowdfunds. Both projects are aiming to launch their tokens on Waves platform. Tokes aims to capitalise on the growing legal/medical marijuana movement in the US. Funds will be used for ‘acquisition and development of a state-of-the-art cannabis cultivation, production, and dispensary facility in the state of Nevada. Capital raised during the ICO will be dedicated to procuring the licenses and facilities necessary to operate a 100% state-legal medical marijuana enterprise.’ Profits will be shared with token-holders via dividends or buybacks, pending legal clarification. ## ChronoBank seeks to disrupt the short-term recruitment industry, by connecting freelancers with employers. The ‘Uber of time’ will use time-based cryptocurrency tokens to pay workers. These stable, inflation-proof Labour Hour (LH) tokens will trade on a decentralised exchange in return for labour and other currencies. The result will be something like a decentralised version of Upwork, for many key professions. LH will be a robust store of value and will appeal to crypto traders seeking to park funds without withdrawing them from the crypto ecosystem. 5% bonus is still available. ## Anyone who would like to work with Waves is invited to join our Slack to discuss it further, and for technical assistance. Please email [email protected] for an invitation. Waves Nodes and Lite Client Reminders ## If you would like to run a full node, please download the latest releases at https://github.com/wavesplatform/Waves/releases/. Anyone can run a node, but you will need at least 10,000 WAVES to generate blocks. You can read the installation guide here. ## For regular users the Lite client can be downloaded from https://wavesplatform.com. Do not download the client from other sources for security reasons. (Please be aware that there have been issues with fake github repositories, as well as fake Twitter accounts and Slack identities.) Alternatively, the standalone Chrome app will automatically update as new versions are released. Waves Weekly Crypto Roundup ## Due to the Christmas break there is no episode of WWCR this week. If you haven’t already watched it, take a look at our festive episode #13, which features ChronoBank as well as giving our regular market roundup and bitcoin market analysis from Brian Beamish. ## Lastly, Sasha recently held an AMA answering a number of common questions about Waves. You can see the recording here, or read the full transcript here. ## Happy new year to all of the Waves community! # Press and Articles ## The Dawning of the Age of the ICOs ## Big Business and Blockchain: Linux vs Windows ## The Frontier of Blockchain Adoption will be… Bitcoin Circa 2010 (NASDAQ) ## Read “The Frontier of Blockchain Adoption will be… Bitcoin Circa 2010 (NASDAQ)” in Chinese on Blockchain.hk ## WAVES Releases Full Nodes and Assets: A Novel Approach for Public Blockchains ## How to Mine Waves? # Papers ## Enhancing Scalability with Improved Authenticated Dynamic Dictionaries


  • # Draft of concept for [Waves community token (WCT)](https://wavesplatform.slack.com/files/sasha/F3J9MV8JD/Waves_community_token__WCT__) Waves community token is meant to provide a tool for community assessment of crowdfunding campaigns launched on Waves platform and incentivize waves holders to keep their funds out of exchanges. Besides it should create an additional income stream for Waves token holders. Waves foundation is supposed to be a virtual organization, DAO essentially. It will be launched in several stages based on technical maturity of Waves platform. Based on the current functionality the first stage of the asset implementation is going to look like that: Waves community token will be distributed in stages to all Waves holders excluding exchanges. The distribution will be executed on the 15th of each month based on the current snapshot. 20% of all the assets will be distributed in the first month, with 10% distributed each subsequent month. Projects coming to Waves platform may be endorsed by Waves community. In this case they give up a certain share of their token issue which is distributed to Foundation asset holders as dividends. Through this users are incentivized to hold Waves community token and not to store Waves at exchanges. Next stage of Waves community token operation will be using the upcoming voting functionality. WCT holders will be able to vote for the projects to be endorsed. It will provide some level of community-based KYC and screening. The logic behind holding WCT is a constant stream of dividend assets and the opportunity to participate in community endorsement. The first distribution is going to take place on the 15th of January.


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