Almsot 15 hours prior to publishing this article, Waves announced that their Smart Accounts has been activated in Waves mainnet.
We are very happy to announce that Smart Accounts have been activated on #Waves MainNet! As of block #1,190,000, the first phase of Waves #SmartContracts are available: https://t.co/4e0MjdYQ3U”#WavesPlatform #Blockchain $WAVES
— Waves Platform (@wavesplatform) September 26, 2018
The team of”https://kryptomoney.com/waves-coin-cryptocurrency-explained/” target=”_blank” rel=”noopener noreferrer”> WAVES platform, took to Twitter to announce that in the next 24 hours their iteration of the platform’s “https://kryptomoney.com/what-are-smart-contracts/” target=”_blank” rel=”noopener noreferrer”>smart contracts would go live. Notably, the team did not disclose the time of the launch and has subsequently raised the curiosity in the crypto world. Here’s what the Tweet Said:
Less than 24 hours left to the activation of the first iteration of
#Waves #SmartContracts! Waves is superior! @wavesplatform #cryptocurrency #blockchain
— The Waves Guy (@TheWavesGuy) September 25, 2018
Smart Contracts To Be Called As “Smart Accounts” On Waves Platform
The Waves Platform reported their progress of the implementation of the smart contract exactly, via Twitter exactly 2 weeks ago. Interestingly the team has dubbed their smart contracts as smart accounts. Here’s what the Tweet stated:
Smart Accounts are non-Turing complete smart contracts: they allow the execution of code on the blockchain, but with deliberate limitations on functionality to avoid unwanted usage scenarios and to increase the reliability of the system.
We are deliberately not going to provide users with the ability to write functions, recursions, and loops of indefinite nesting. We have explained before that we avoid constructions whose complexity cannot be predicted in advance, and that cannot be executed in a definite number of steps. That is also the reason why we have no collections or ‘for each’ constructions.
According to a blog on their website, the Waves team explains that the Smart Accounts will provide the most popular and in-demand features such as:
- Multi-signature wallets – a wallet that can be controlled by one person alone. The required parties must provide their private keys simultaneously, in order to proceed with the transaction.
- Atomic swaps – trustless exchange will be offered for cryptocurrencies hosted on different blockchains
- Token Freezing – a feature that will prevent the buyers from selling or transferring tokens out of their address for a certain amount of time
- Whitelist voting – organizing a pole with any type of vote, that will only allow participants from a pre-configured list of people/accounts
- Data Oracles – An Oracle is an application that connects the blockchain to an external data source