This time I had the pleasure of interviewing the WAVES team. A full suite of solutions for storing, trading, managing and issuing digital assets.
How would you describe the main pillars of the project?
Since its launch, Waves has been working to fulfill its vision of creating a truly unique blockchain product that will be an industry standard in providing the most versatile and straightforward tokenisation tools for everyday use. Waves is the fastest blockchain platform, and offers outstanding solutions for end users, businesses and developers, whether they need to store or exchange tokens (issuance of a token literally takes less than 60 seconds), trade swiftly and securely on our decentralised exchange, or run fraud-proof business logic using Waves smart contracts.
About the team and supporters, what are your strengths?
The Waves team is working hard to provide new and secure blockchain solutions, whilst enhancing our technology and making our products more versatile. The Waves community plays a crucial role in our development, giving valuable feedback and spreading awareness about the platform.
Thinking about the future, do you have any roadmap with relevant upgrades or partnerships?
We’re releasing non-Turing complete smart contracts on mainnet in August-September. Turing complete smart contracts will follow later this year. Besides that, we’re introducing a major node update, with Fair PoS and data transactions. We’ll also be introducing sponsored transactions and hardware wallet integrations. We have already established long-term partnerships with LegalThings, MageWorx, Guarda, Astana International Financial Centre (AIFC), and TMT Blockchain Fund this year, and new partnerships are on their way.
What’s the added value of WAVES in comparison with other competitors?
Our key advantage is the step-by-step approach. That’s how we implemented the fastest consensus protocol in existence — Waves-NG. We’re implementing Waves smart contracts the same way.
What are the use cases you are looking to cover?
We’re looking at a wide range of use cases, from small businesses up to large enterprises, and specifically around tokenisation. This will be supported by smart contracts, especially the kind of basic account control features people need. Large financial corporations will likely want to use the permissioned Vostok platform, which leverages Waves technology and insights.
How are you aiming to provide scalability to your service?
Waves-NG is already the fastest open blockchain protocol in existence. It supports hundreds of transactions per second, which is an order of magnitude more than most other blockchains. However, even this isn’t enough to compete with mainstream, centralised platforms like Visa. We think that we can optimise it to support around 1,000 tx/s, and then a further improvement scalability will come through sidechains. This will effectively allow any degree of scaling required.
Evaluation of the current scenario for WAVES and the blockchain industry
We believe we are solving problems that no other blockchain system is solving effectively, including easy token facilities and significant scalability. Waves is designed specifically for mainstream, popular use and for widespread business adoption. We’re also actively pursuing partnerships with enterprise. As such we think it is positioned very well to become a leader in the blockchain space.
Thanks for your time
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