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A public blockchain platform known as Waves, which previously helped digital startups develop tokens, announced it has raised $ 120 million to create a private blockchain that will be used by governments and corporations. This will be a private version of the public blockchain by the company. The investment round was led by Dolfin, a financial services group based in London. This is according to a statement released by Waves on Wednesday. Immediately after the announcement, Waves' native cryptocurrency increased by 50% and began trading at $ 3.80.
Information on the Waves platform
Waves Platform was founded by Sasha Ivanov in Switzerland. Over time, the platform has benefited greatly from its ICO enabling plants to develop and sell tokens using the company's blockchain. Its distributed accounting platform is easy to use according to the company.
During an interview in the company's Moscow office, Ivanov said: "The craze of cryptocurrency is over but the concept of using a decentralized network to store data and reduce costs remains relevant." Large companies and government entities do not find public blockchains secure or fast enough for their operations, so they prefer to use private blockchains because they have limited users and provide better data protection.
Just like International Business Machines Corp, the Vostok blockchain, will focus on the Asian and European markets. Ivanov said the first project will be launched in the first quarter of 2019.
Price analysis of wavy tokens
Only in December 2017, the token lost up to $ 1.7 billion in market capitalization. This was just before the bull run that took the price of cryptocurrencies to their historical highs. Since the price of cryptocurrencies declined this month, the Waves token also fell.
