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Waves Crypto Platform Activates First Phase Of Smart Contracts

Published: 27/09/2018
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What is it for?

The representatives of the Waves crypto platform announced the activation of smart contracts in their mainnet after the community supported the new functions by a majority of votes, according to the official blog.

 

 

Earlier, Waves launched the protocol which created the conditions for the application of smart contracts. On Wednesday, September 26, the first phase of smart contracts became available to the network users at block number 1,900,000. Miners of the platform awaited this option for a long time and gave their votes for it decisively and quickly, as reported by Waves staff members in a statement.

 

Thus, the developers have an opportunity to set up smart contracts, with the help of which it will be possible to manage accounts, in particular, freeze tokens, produce atomic swaps, carry out voting, and apply other functions.

 

Waves experts are confident that, with this feature, the platform can provide not only greater security and variability, by giving numerous solutions for organizations and individual customers, but also new scenarios for the use of serious decentralized applications.

 

The next task of the team is to implement Turing Complete smart contracts using approaches that will be more secure than the Ethereum ones.

 

As previously reported, Waves will provide a blockchain solution for Rostec, the Russian corporation.

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Waves blockchain
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