Custom Blockchain Tokens Platform WAVES to Launch ICO

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WAVES, a versatile new custom tokens platform, will aim to bring the benefits of Blockchain technology to crowdfunding, securities trading and fiat money transfers.

“WAVES is designed to take the coloured coins concept to its fullest expression,” said Sasha Ivanov, the platform’s founder, who is well-known in the cryptocurrency world thanks to his Coinomat instant exchange and other popular projects.

“One of the use cases we want to realise from the start is a kind of decentralised Kickstarter – one where anyone can raise funds for their project, but where investors are protected by WAVES’ built-in Blockchain-based reputation system, and where they can trade their stake in a project with third parties or gain an automatic refund if certain conditions are not met.”

The platform will focus on integration of national currencies through compliant gateway operators, allowing users to employ GBP, USD, EUR, CNY and others for Blockchain operations, rather than relying on a native token subject to volatility through changing supply and demand. In the context of the concerning move towards permissioned Blockchains, WAVES will offer financial institutions an open platform fit for purpose and suited to the demands of KYC/AML regulation. It will also include anonymity features, a must for industry-grade trading platforms.

Decentralised Kickstarter

WAVES will initially focus on several key applications. A decentralized token exchange will facilitate fundraising, crowdfunding, and trading of financial instruments on the Blockchain. Asset-to-asset trading will be enabled from the start, meaning that any currencies and assets can be used to pay network fees, thereby placing minimal burdens on end users.

Two-tier architecture

WAVES is positioned for accessibility and mass adoption from the outset. The network is built on the Scorex platform, which develops an approach based on using current network state as an alternative to full transaction history.

WAVES will use a variation of the proof-of-stake consensus mechanism, Leased PoS (LPoS), which enables lightweight clients to use their balances to maintain network security whilst leaving staking itself to full nodes. This two-tier architecture means end users will only need lightweight clients, facilitating easy installation. Interfaces familiar from existing online banking and trading apps will enable a flat learning curve.

The concern for usability is reflected in the use of plug-ins to enable new transaction types. Other platforms include these in the core, which lead to regular and mandatory hard forks.

“This way, any developer can implement a new type of transaction,” added Ivanov. “Any node can propagate these, whether or not they have the required plug-in to interpret it. This should lead to an Appstore-like ecosystem, as well and unprecedented flexibility.”

The WAVES ICO will start on 12 April and will end on 31 May, 2016. For more information visit http://wavesplatform.com/

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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