Left Menu
Development News Edition

Waves Breaks into dApps Market Launching Smart Contracts Functionality

PR Newswire | Zug | Updated: 25-06-2019 19:41 IST | Created: 25-06-2019 19:41 IST
Waves Breaks into dApps Market Launching Smart Contracts Functionality
Image Credit: Pixabay

Waves Platform, a decentralised blockchain ecosystem for building Web 3.0 solutions, is releasing its purpose-designed programming language RIDE on mainnet – enabling global developers to create fully-fledged decentralised applications on the Waves blockchain.

Innovative solution

Waves claims that its solution has advantages over existing alternatives, including the most popular platforms: Ethereum, EOS and TRON. These advantages include the developer-friendly RIDE programming language, which helps users avoid mistakes in the coding process; lazy evaluation; formal verification; no gas requirements; flat fees for transactions; and better scalability properties.

Alexander Ivanov, Waves founder and CEO, believes that the RIDE release will attract a large number of developers to the platform, both from competing blockchains and from outside the blockchain space.

'DApps are considered to be the future of the decentralised world and a platform that stays ahead in this battle will rise at the top,' he comments. 'We aspire to be at the top because we build original solutions that have never been released before, and take into account the problems of implementations that are already available in the market.'

'For blockchain developers, this means a cheaper and more convenient coding process than ever before, while those from outside the blockchain segment will see the entry threshold substantially lowered and new opportunities arrive,' he adds.

Impact on the segment

Currently, the dApps segment is valued at $3.2 billion, with the total number of users on the top four platforms close to 800,000 – a 25% increase for the first quarter of 2019. Analysts predict a boom in the dApps segment over the next two to three years.

DApps have the potential to democratise not only storage, trading and betting, but also elections, legislation and other public services and events. Those dApps will be written and launched on existing platforms, whose number runs into a few dozens. However, even the largest and best-known platforms are not yet fully in line with the developers' requirements. The launch of Waves' smart contracts is set to step up competition between platforms and foster the segment's expansion.

Waves Platform was founded in 2016 with a team of 10 developers after raising $16 million in investment. The company has 180 employees in Moscow, Amsterdam and Zug currently. There are 664,074 active users (+30% year-on-year for 2019/2018) that provide 100,861 transactions on average daily (according to blocktivity.info). The total amount of transactions processed by mainnet is over 65 million.

Waves is the technological basis of the Vostok project, which attracted $120 million in investment in December 2018 to develop a private blockchain for the corporate and public sectors.


TRENDING

OPINION / BLOG / INTERVIEW

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Videos

Latest News

J-K LG approves grant of 'special move TA' of Rs 25,000 to employees irrespective of actual movement

Lieutenant Governor of Jammu and Kashmir Manoj Sinha on Saturday approved a grant of special move travelling allowance TA of Rs 25,000 to all employees irrespective of actual movement as a special case this year. Rohit Kansal, Jammu and Kas...

Deion Sanders takes aim at players who opt-out

Pro Football Hall of Fame cornerback and current NFL Network analyst Deion Sanders has taken issue with players who elect to opt-out on their respective upcoming seasons due to concerns surrounding the coronavirus pandemic. All Players OPTI...

Sixers' Simmons to have surgery on left knee

Philadelphia 76ers All-Star Ben Simmons will have potentially season-ending surgery on his left knee, the team announced Saturday. The 24-year-old guardforward will leave the NBA bubble near Orlando for the procedure. A timetable for his re...

Soccer-Juventus hand Pirlo his first manager's role

Serie A champions Juventus stunned Italian football on Saturday by naming World Cup-winning midfielder Andrea Pirlo as manager on a two-year contract even though their former player has no previous experience in the role.Pirlo, 41, was prom...

Give Feedback