Wavesplatform: Blockchain for the people.WAVES, ultimate crypto-platform for asset/custom token issuance, transfer, and trading on blockchain. We're a group of developers and businessmen who were involved with NXT platform, using our experience and expertise we want to offer a robust and flexible colored coins platform, with focus on crowdfunding, community projects, open source development and connection to established payments networks.
At launch Waves will offer a full-scale platform for decentralized crowdfunding, community management, encrypted messaging. We will offer a light weight chrome plugin for end-users, full node carrying the full blockchain will be run on a separate software module. User experience will be really close to usual centralized trading/banking experience. We're targeting mass adoption and the ease of use. Users will enjoy one-click installation procedure, and full scale decentralized trading/crowdfunding platform right in their browser.
Technical specifications:• 100 million issued tokens
• POS consensus algorithm
• Extensible custom transactions system
• Plugin/Blockchain apps system
• Decentralized reputation system
The key features:Custom token issuance, transfer, and decentralized trading:Colored coins approach is the corner stone of value representation on blockchain. Custom tokens can designate a share in crowdfunding project, a game token, can represent fiat currencies on blockchain. The scope of cryptotokens usage is limited by the users' imagination only, and may go well beyond representing financial instruments on blockchain.
Users will be able to issue their token, transfer it to other users, and trade it on a decentralized exchange. The main usage we want to market is crowdfunding of open source projects. Consider it to be a full scale crypto kickstarter, where users can not only back up a project they like but have a token tied to their donation and trade it, thus transferring the benefits the holding of the token provides to another user.
We will be working with regulators to provide a compliant environment in major jurisdictions. The next stage would be the stock and other financial instruments issuance by established companies, fully compliant with local laws. By providing asset to asset decentralized trading we will be offering a decentralized exchange which can be used for financial instruments clearing and trading.
FIAT tokens on WAVE blockchain:We will be supporting fiat tokens, tied to major world currencies. They will be backed by existing financial institutions, who will provide market making for the assets, compliant with their KYC/AML. The structure is similar to Ripple gateways, it is not a market-peg, but a full backing by a third-party entity.
By providing fiat tokens we reach out to general kickstarter audience, they do not have to deal with crypto exchange rates, being in comfortable EUR or USD environment.
Cryptocurrency tokens:Also major cryptocurrencies will be supported as WAVES blockchain assets. It will allow decentralized trading against BTC token, which will probably be used by cryptocurrency crowdfunding projects wishing to launch their campaigns on WAVES platform. All major cryptocurrencies will be supported.The implementation of cryptocurrency tokens is based on MGW approach from SuperNET project, that is several independent servers will provide multisig deposit address for supported cryptocurrency,and upon a successful deposit a user receives corresponding blockchain token, which he or she can trade or withdraw back to the corresponding cryptocurrency.
These features make Asset to Asset trading possible, and important. Through trading an asset against another asset in a decentralized way we effectively obtain first decentralized stock exchange/ crowdfunding platform, tied to "established" real world currencies and cryptocurrencies with strong monetary emphasis.
Community management features:Decentralized voting and messaging will be implemented. It will help the projects launched on WAVES platform communicate to backers and decide on the community development in a fair and transparent way.
Plug-in system:To pave the way for the future system development and streamline the process of rolling out the future updates a flexible plugin system will be implemented. It will allow to get rid of hard forks and implement most new features through the plug-in system.
After launch features:Reputation system:Reputation system will be implemented using custom "karma" tokens. WAVES will provide a complete business environment, reputation system is an integral part of it. It will be a cross between reputation based on number of transactions, issued assets, other blockchain activity and feedback from other users. It's going to be a decentralized KYC and vetting system, precursor of systems which will hopefully dominate business environment in near future.
Privacy features:Privacy features including anonymous asset trading will be implemented. Without anonymity features it will be impossible to mimic the usual stock exchange experience of anonymous orders books.
White paper:http://wavesplatform.com/whitepaper_v0.pdfStay tuned:Twitter: https://twitter.com/wavesplatformFacebook: https://www.facebook.com/wavesplatform/Slack: http://wavesplatform-slack.herokuapp.com/Reddit: https://www.reddit.com/r/WavesplatformBlog: https://blog.wavesplatform.com/Github: https://github.com/wavesplatformWeb: https://wavesplatform.com/
