Waves (WAVES) Smart Contracts to Go Live Today


In a tweet less than 12 hours ago, the Waves team (WAVES) announced that the first iteration of the platform's smart contracts would go live in the next 24 hours. The tweet stated the following:

There is less than 24 hours to activate the first iteration of #waves #SmartContracts! Waves is superior! @wavesplatform #cryptocurrency #blockchain

The complete tweet can be found below.

Exact time of the launch of the smart contract

The team did not directly indicate when the smart contracts would be launched on the platform. Ethereum World News managed to find a site that provides progress reports and updates on the wave platform. The site, which can not be confirmed as authentic, states that the smart contracts will be published September 26th 2018 around 6:05 pm UTC. This is over a period of time that is about 6 hours and 40 minutes from the time of writing this post.

What are the Smart Contracts on the Waves platform?

Exactly 2 weeks ago, Ethereum World News reported progress in the implementation of smart contracts on the Waves platform. The Waves team has decided to call their smart contracts, smart accounts. They explained what they are like:

Smart Accounts are complete non-Turing intelligent contracts: they allow the execution of code on the blockchain, but with deliberate limitations on the functionality to avoid unwanted usage scenarios and increase the reliability of the system.

We are not deliberately providing users with the ability to write functions, recursions and undefined nesting cycles. We have already explained that we avoid constructions whose complexity can not be predicted in advance and which can not be performed in a defined number of steps. This is also the reason why we do not have collections or "for each" construction.

The Smart Account will provide the most popular and most requested features such as:

  • Multi-signature wallets – wallets that can be controlled by one person. In order for a transaction to continue, the obliged parties must provide their private keys at the same time
  • Atomic swaps – seamless exchange of cryptocurrencies hosted on different blockchains
  • Freezing of tokens – Prevent buyers from selling or transferring tokens outside their address for a certain period of time
  • White list vote – a function to organize any kind of voting with a preconfigured list of people / accounts who are able to participate in a specific survey
  • Date Oracles – Oracle is an application that links the blockchain to an external data source

What do you think of the new development of the Waves platform? Where is this place in terms of market value? Let us know in the comments section below.

Disclaimer: this article is not intended to give financial advice. Any opinion here is purely that of the author and does not represent the opinion of Ethereum World News or its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.

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