Blockchain startup Waves introduces a major upgrade on its blockchain, Waves Node 1.0 and released the mainnet of RIDE which would allow decentralized applications (dApps) its platform, as per a blog post published on June 25.
As per the post, the new mathematical functions of RIDE will allow developers to perform calculations on the Waves blockchain that are necessary for real use cases such as implementing an algorithmic stablecoin. Sasha Ivanov, founder and CEO of Waves stated to Cointelegraph:
“I do believe that one of the main obstacles for mass development of decentralised solutions on existing platforms is unpredictable final cost of transactions due to gas. As for the Waves, all transaction fees in our blockchain are fixed and immutable. Waves ecosystem already has all the necessary elements for development: decentralized repository, possibility for creating oracles, tokenization of tangible and intangible values, and now also for development of full-fledged dApps…”
In addition, Waves introduced an alternative to the REST API that serves as a mechanism for the standard description of interfaces and data formats. Designer to reduce development time, the upgrade will also allow the issuance of non-fungible tokens on the Waves blockchain.
Last December, Waves raised $120 million in a private funding round for its new project called Vostok. The product will aid the Waves Platform to develop new technologies such as artificial intelligence, Internet of Things, and blockchain in order to “support a truly open and decentralised web.”
Image Source – Wavesplatform.com
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