WAVES Open-blockchain financial platform. Blockchain for the people.
First version of Decentralized Exchange feature is implemented
Waves Pre Release GUI V0.4.15
Bug Fixes dex: Order price issue fixed
Waves Fiat tokens on blockchain.
These days we’re launching Waves fiat tokens, they are going to be implemented on Tidex.com exchange first, and ,after KYC/AML setup is complete, within Waves lite client. Blockchain fiat is an important part of the ecosystem, in which a closed environment is being built. Once you are on the Waves blockchain you can do all kinds of operations there, including fiat transfer and trading your fiat against available blockchain tokens.
Basically there are two approaches to implementing Blockchain fiat — you either maintain some kind of gateways that introduce incoming fiat into the blockchain in a form of blockchain tokens or you’re trying to support it as a market peg, some dynamical mechanism that creates a “stable coin” tied to real world fiat.
We support the first approach for now. It stems from Ripple gateways, and it basically uses the blockchain as another type of transfer medium. Gateway setup closely resembles classical payment systems construction, where you have an internal balance in fiat currency stored at the payment system servers, with the only exception that the transfer medium becomes decentralized.
The system is still centralized of course; you have a trusted gateway which buys and sells fiat tokens for actual fiat. This should be a real world entity with all corresponding licenses and compliant with corresponding regulation. It just uses another transfer medium compared to, say, Paypal.
Which benefits can be achieved through this?
Firstly you obtain a unified ecosystem through this. Fiat tokens can be integrated into cryptocurrency exchanges, money transfer applications, settlement systems… You can trade your blockhain tokens against fiat on Waves decentralized exchange. Basically you can unite very different business processes under the same blockchain umbrella, in a transparent and accountable way.
Of course the system is still centralized, since it’s based on the trusted gateways. But once you’ve gone through KYC/AML, which separates the fiat world from the blockchain world, you’re in a very comfortable environment which might be suited for your tasks better.
Stable coins is another very interesting approach, which we are going to pursue later. In any case, using blockchains as a transfer medium for real world fiat is needed and has many use-cases.
Fiat tokens will be available for purchase Waves wallet soon! Stay tuned.
What you need to know about Wavesplatform
Waves is an open blockchain platform designed for ease of use and mass
adoption. Anyone can use Waves to launch, distribute and trade their own
crypto token. The platform is fully decentralised, transparent and
Waves is creating a comprehensive blockchain ecosystem that will provide all the features necessary for business adoption, and the platform already has a number of powerful tools and services that make building user applications straightforward.
- Clean, familiar UX
- Chrome app or html lite client
- No blockchain download necessary
Fast, low-cost and scalable
- One-minute blocks
- Low (0.001 WAVES) transaction fees
- Tx fees can be paid in tokens
- Up to 1,000 txs/second
- Fully compliant, licensed gateways into and out of the blockchain
- EUR blockchain tokens, with USD and other currencies on the way
- Tokens fully backed by fiat deposits
- Bitcoin gateway and tokens also available
Easy token operations
- Launch a new crypto token in under a minute
- Tools for mass token distribution
- Ideal for crowdfunding
Decentralised exchange (DEX)
- Peer-to-peer trading from within the client
- Trade any pair of Waves tokens
- Near-realtime order matching
- Blockchain settlement for security
- Non-Turing complete
- Powerful but secure
- Planned implementation Q4 2017
Waves has already attracted several major businesses and social programmes. These include a transparent venture capital organisation (Tokenomica); a political engagement initiative (Upcoin); a green manufacturing technology business (ZrCoin); a marketing drive for a mobile gaming platform (MobileGo); a secure VoIP and telecommunications infrastructure company (EncryptoTel); a blockchain loyalty scheme (Incent), and more.
Join WavesCommunity on telegram: https://t.me/Wavescommunity
Waves DEX goes live in lite client
The GUI for the Waves platform’s
decentralised exchange has been released, bringing all users fast,
secure peer-to-peer trading of Waves tokens, including bitcoin and fiat
Waves has released the GUI for its signature DEX (decentralised exchange). Users can now access the DEX from within the lite client — allowing anyone to use it without additional technical knowledge or time-consuming blockchain downloads. Along with bitcoin and fiat gateways, this will complete the initial tranche of functionality pledged at the project’s crowdfund and that businesses need in order to create, deploy and trade their own blockchain tokens quickly and easily.
Although the DEX has been live on mainnet for around two weeks, the release of a new version of the lite client with a GUI means that it is now accessible to everyone. The lite client currently offers a straightforward but familiar trading experience, which will be recognisable to anyone who has used regular crypto exchanges, with order books displayed for the trading pair. Unlike traditional crypto exchanges, however, and unlike earlier decentralised exchanges, users can trade any pair of tokens they want directly against each other, without the need for an intermediary currency or step.
Although all trades are settled on the blockchain for security, Waves DEX is designed to compete with and complement existing exchanges in terms of speed as well as security. New ‘Matcher’ technology means that orders are matched in real-time (typically within milliseconds), meaning that there is no need to wait for the next block to know whether a trade has been executed successfully.
Secure trading with DEX and gateways
With bitcoin heading back towards its all-time high and interest in the virtual currency growing rapidly — both as a store of value and as a means of speculation — traders have little alternative but to use the centralised exchanges that have always proven a point of weakness in the bitcoin ecosystem. ‘As we learned from the implosion of MtGox, and as numerous other exchanges have shown since, centralisation always introduces a point of failure. The bitcoin world desperately needs decentralised exchanges, and we’re pleased that Waves can offer one of the first solutions that is fit for purpose — fast, secure and with a familiar user interface,’ explains Sasha Ivanov, CEO of Waves.
Traders can deposit bitcoins through a secure bitcoin gateway, which holds the coins in multi-sig cold storage and automatically sends an equivalent number of Waves bitcoin tokens (WBTC) to the recipient’s account. Licensed and fully compliant gateways for fiat, starting with Euros, are also available. ‘The Waves community can trade bitcoin against Euros, against WAVES, and against any of the other tokens that have already been launched on the platform.’ Waves already has a thriving network of initiatives, including the Waves Community Token (WCT), the Miners’ Reward Token (MRT), Incent and Darcrus, with major crowdsales including MobileGo, EncryptoTel and ZrCoin coming towards the end of April.
To find out more or to download the lite client and start using DEX, visit: www.WavesPlatform.com
Join WavesPlatform community on telegram: https://t.me/Wavescommunity
Waves Release Mainnet v0.6.4
You have to remove existing
blockchain.datfile before installation. To speed up update of the node you can download blockchain-mainnet-457000.zip file. Please, extract
blockchain.datfile from the archive and replace existing file. You can verify integrity of downloaded blockchain by checking it's signature in file
Leasing balances will be RESET to actual Waves balances on MAINNET in block #462000 and on Testnet in block #51500.
New consensus rules will be activated on MAINNET on Fri, 21 Apr 2017 10:00:00 GMT and on Testnet on Wed, 19 Apr 2017 00:00:00 GMT.
Please, update your node BEFORE new rules activation time. Otherwise you'll end up on fork.
In this release:
- Leasing Cancel operation was fixed.
- Network connectivity to old versions was restricted.
- Order book initialization after Matcher restart was fixed.
- API to delete Order Book was implemented.
- Order timestamp validation was removed.
- Assets pairs sort was fixed.
- Default Matcher transaction fee was increased to 300,000 Wavelets (0.003 Waves).
Outcomes of the Moscow forum «Blockchain: dialogue of business and authorities»
The research and practice forum «Blockchain: dialogue of business and authorities» was held in Moscow on April 13. The event was attended by State Duma deputies, relevant ombudsmen, Russian academics, representatives of business interests, experts, members of the interagency working group on the cryptocurrency turnover risk assessment, and representatives of public agencies. The forum moderator, Head of the Interagency Working Group on Legal Regulation of the Cryptocurrency Turnover, Doctor of Law, Professor of MGIMO Elina Sidorenko expressed her view that the event had resulted in passing a unified concerted decision on the need to adopt a bill on cryptocurrency turnover containing the definition of the core positions of this document. According to Sidorenko, there is no doubt that cryptocurrency needs favorable legal conditions in Russia, including those in the tax field. The forum moderator highlighted the need to develop blockchain technology. A State Duma Deputy from the LDPR faction Andrei Lugovoi emphasized that even people who lack confidence in cryptocurrency can’t deny to acknowledge the benefits of the blockchain technology. According to Lugovoi, the technology will facilitate direct communication between individuals and legal entities, society and the state. The MP cited data stating that more than half of national registers will function on the blockchain in a decade. According to the estimates of the World Bank, 10% of the world GDP will be stored with the help of blockchain as early as in 2017. Lugovoi is confident that a ready bill on the regulation of cryptocurrency turnover will be read by the agencies and the expert community in the second half of 2017. The MP suggested setting up an interagency working group on assessing the risks of the cryptocurrency turnover. Deputy Director of the Rosfinmonitoring Pavel Livadny has noted that his agency sees the risks of the cryptocurrency turnover, but nevertheless considers the blockchain as an advanced, multi-purpose tool. Such a tool should be legalized in Russia. According to Livadny, cryptocurrencies need legislative regulation, and they are banned only in a few countries. The leader of the Party of Growth, business ombudsman Boris Titov suggested setting up a cryptovalley within the Crimean peninsula, similar to the Crypto Valley initiative implemented in the Swiss Zug. According to Titov, distribution of cryptocurrency in the Crimea will allow to raise regional funding under sanctions more efficiently. According to Titov, blockchain will strengthen confidence in the electoral system through the implementation of voting based on the distributed ledger technology.
The founder of the Waves blockchain platform Alexander Ivanov announced the necessity to create legal norms regulating the operation of the points of exchange of the fiat currency for cryptocurrency and backwards. According to the Waves founder, 161-FZ is currently enforced in Russia, which regulates operations with electronic money. Similar legislation can also be developed to legalize the depositing and withdrawal of cryptocurrency. At the same time, the legislation should take into consideration both the technological features of the cryptocurrency and the role of the regulator and other players on the financial market.
Ivanov also told the public authorities about the ICO mechanisms and suggested making this method of raising investment absolutely legal in Russia for the first time in the world. This crowdfunding tool can absolutely legally function within the existing investment market.
According to the Waves founder, the statutory framework BitLicense implemented by the New York State Department of Financial Services (NYSDFS) can serve as a guide for Russian regulators. BitLicense is a license that all companies processing virtual currencies are required to obtain under the regulatory requirements of the State of New York. For example, BitLicense regulates the following aspects:
• Storage, possession and management of virtual currencies on behalf of third parties; • Exchange of virtual currencies; • Sale and purchase of virtual currencies; • Management, administration or emission of virtual currencies.
The very fact of holding the forum «Blockchain: dialogue of business and authorities» proves the warming of the Russian authorities’ attitude to cryptocurrencies and the Blockchain technologies, being their basis. The state will probably make its next step towards the formation of legal regulation aimed at developing cryptocurrencies and Blockchain in Russia.
What is Waves’ DEX?
It’s a decentralised exchange, built into the Waves blockchain. The DEX allows users to trade their tokens — including WAVES, BTC and any other assets issued on the Waves platform — completely trustlessly and without having to move their funds to a centralised exchange.
What makes it fast?
Orders are paired on a centralised basis by Matcher nodes. These execute a trade but have no access to funds. The trade is then settled on the blockchain for maximum security.
All orders are sent to a centralised server…
…which matches incoming orders at high speed…
…but actual transfer of funds happens on the blockchain.
Why a decentralised exchange?
Centralised exchanges can be hacked, robbed and DDoS’d — and often are (MtGox, Cryptsy, Bitfinex, Poloniex…)
It is not logical or safe to store decentralised assets on a centralised platform!
Can I profit from running my own Matcher?
Absolutely! Just install the Waves software and enable matching functionality. The Matcher earns fees from the services it provides, so you can substantially increase your mining revenues.
How can I use DEX?
Simply download the Waves client from our official website,www.WavesPlatform.com, or use our webwallet, available atwww.WavesWallet.io. You can deposit your bitcoins into the wallet and start trading using the Exchange tab.
Waves Bug fix Pre Release GUI V0.4.16
Fixed order price when assets have different precisions Fixed the bug with Chrome App storage quota
Orderbook is clickable now Balances are shown in order creation widget