Waves (WAVES) Platform To Challenge Ethereum With Its Own Smart Contracts

Waves (WAVES) Platform To Challenge Ethereum With Its Own Smart Contracts 13

In a tweet on the 28th of April and less than 3 days ago, Waves Platform announce that the much anticipated Waves (WAVES) Smart Contracts are now available on Waves’ TestNet. The TestNet with the added feature can now be downloaded from github.com.

Waves (WAVES) Platform To Challenge Ethereum With Its Own Smart Contracts 14
@Wavesplatform tweet on smart contracts

As can be seen with the screenshot of the tweet above, the project anticipates a Moon landing once the Smart contracts are full available and functional on the Waves platform. This adds Waves to a growing list of platforms that are gunning for Ethereum’s dominance in the industry of smart contracts. The other contenders are Stellar, Zilliqa, Tron, EOS and Ripple with is revived Codius project.

This announcement comes at a time where Ethereum smart contracts have been the subject of scrutiny due to the discovery of security vulnerabilities in the smart contract platform. A classic case of the dire security situation in Ethereum smart contracts is the infamous Parity debacle where a user locked up $200 Million in Ether indefinitely on the smart contract by killing it through a bug in the code.

The Waves smart contracts will include the following benefits and more:

  • Support for multi-signature wallets, which cannot be controlled by simply one person alone
  • No gas for non-Turing complete smart-contracts
  • Comparable service to Ethereum, but both easier and cheaper to use
  • The ability to immediately distribute and trade created tokens on DEX
  • Support for atomic swaps in the future
  • Support for token freezes
  • Support for decentralized applications (DApps)

Another added advantage of the Waves platform is the currently active decentralized exchange. All trading transactions happen on the blockchain and only the order list is held on a centralized matcher. The Waves project has managed to increase the network’s capability to hundreds of transactions per second. Its decentralized exchanged dubbed Waves DEX has no restrictions on withdrawal of funds. As soon as the trade is complete, your funds appear in your wallet and not held by the exchange.

With all the above mentioned developments, Waves is now en route to making a debut to the top 20 coins according to coinmarketcap.com. With the current value of $6.64 per Waves coin, perhaps it is not too late to buy in and watch the coin orchestrate a Moon Landing and assist in buying that Lambo.

[Photo source, news.bitcoin.com]