Being involved in the cryptocurrency industry for extended periods can at times blind regular users to realising there are new investors entering the industry everyday. The first investors were technologically literate and could foresee the potential built into the technology. However, we are now at a stage in the cryptocurrency movement where we see more and more new users that are less technologically literate. This crowd is to be welcomed with open arms, however, we must as a community create simple applications that simplifies blockchain data in order for these investors to stay within the space.
The obvious example of this is way back at the beginning of the computer age when MS-DOS was released. MS-DOS by itself was revolutionary, but by itself it was not user friendly because of its use of complex command lines and unappealing look. In this analogy, think of MS-DOS as raw blockchain data. Along comes Windows 3.1, a simple but user friendly interface built on top of MS-DOS; it’s fair to say that Windows 3.1 played a significant role in normalizing the use of computers around the world. Windows 3.1 can be thought of as all of the cryptocurrency wallets such as the Bitcoin wallet. But Windows 3.1, and the Bitcoin wallet, whilst being important, needed more infrastructure around it. Windows 3.1 could only have thrived with the creation of third party applications built around the system.
Bitcoin itself, whilst being the first and most “vanilla” cryptocurrency, has a vast range of applications built around its blockchain. All of the infrastructure and applications built around Bitcoin are large contributing factor in maintaining the price above opposing cryptocurrencies. With this reasoning, it is essential for rivaling cryptocurrencies to do the same. One clear Bitcoin contender, the Waves blockchain, is using this very approach. Waves, with its 16 million dollar backing in funding, are themselves building an infrastructure in order to support its goal of hosting ICOs. Despite the great work by the Waves team, time and personnel are always limited and it is impeccable for third parties to assist in building around Waves. This is where Oceanlab, an experienced jack-of-all-trades team comes into play.
It is no secret amongst Waves circles that the Oceanlab team, Fabrice Distefano (aka Sphearis) and Olivier Saintelet (aka Dibatch), are a duo that have the brains, knowhow and will to complete the tasks at hand. Oceanlab aims to create simple and understandable applications built around the currently existing Waves infrastructure. According to Oceanlab whitepaper, Oceanlab has a wide range of applications they plan on building, however, being a community based project, Oceanlab will work on the most important applications at that present moment. What this means is Oceanlab may shift gears if a particular application is in desperate need of being built. The goal of Oceanlab is to support the Waves project and the community around it by building the much needed applications for that particular moment in time.
To get a better grasp of Oceanlab, I asked none other than Sphearis a few questions about why they picked Waves, about their unorthodox method of accepting 20 Waves tokens (as well as ETH, BTC, EURO, USD and Waves) for their ICO and what applications, out of their large catalogue of planned applications, do they consider to stand out from the rest.
Why did you choose Waves and did you decide to build applications around it?
“Waves was an obvious choice to us because its main purpose is clearly to build custom blockchain applications for anything. Creating a token on the platform is accessible to anyone, you’re one form and one click away from creating an asset which has directly access to a high quality network, fast transactions, trading… That’s simply amazing.
And you can also specify your own parameters (like amount or decimals) and define its own personality: By using a personal name and description, you can link your token to your project right away.
That’s what Oceanlab has been looking into from the start: the human readable data provided is registered on the blockchain and clearly visible to anyone, that makes Waves blockchain far more interesting than the usual system where you send one or several units of a cryptocurrency from a point A to a point B. But it’s still a hard task to filter everything manually, even from the actual 100 transactions/minute network (which will be even faster soon). From asset names to attachments, and also with the help of real time trading data and valuation, we can provide investors and users a clear view of what’s going on, we use our own engine to run our ICO and show the investments in real time. Our budget will also benefit from these functionalities. Waves blockchain allows that level of transparency and every project creator should be able to use these data to communicate more efficiently with investors and clients.”
Why did you choose to fund your ICO with an array of Waves Tokens?
“We invested in Waves since the beginning, I had a lot more time than funds to invest personally. Like every other project creators around the Waves blockchain, we are pioneers and we’re showing the platform possibilities to the world. Taking the decision to dedicate my career to a platform that didn’t have yet the success it deserved requires to be a strong believer, I already spent a massive amount of hours developing new features, on evenings and week-ends while still working on my day job. And as I know how intense it can be, I also want to support other projects. Waves has a very strong community, we’re intimately connected to the platform’s success and we continuously act towards it. Even in the adversity of a contest, we were all discussing as friends and planning future partnerships, I’ve never seen that in any other cryptocurrency community. We at Oceanlab have a no cashout policy and we believe in the future of all the other pioneers projects as much as we believe in ours, we allow them to benefit of a storage of their tokens away from the markets for a while: We will work with a very limited budget in our first year of operation meaning we probably won’t have to spend any of these tokens for a whole year. And having several assets at our disposal will allow us to split our expenses between several assets, preventing unwanted strong moves on the markets for a particular one.”
What applications do you think are the most important you plan on building and why?
“We have a lot of applications and features planned, probably years of work if I follow all my ideas. But the first one we want to focus on is our actual prototype Gravit. The engine is the foundation of our ecosystem, and the website will benefit from any new feature we bring to the platform (encryption, trading analysis, blockchain storage, automation…). This website will become the first blockchain powered social network with many automated features and content. It’s an evolving system able to analyze the depths of the blockchain as well as a lot of external sources, integrate users interactions (submitted with the help of the Waves blockchain) and mixing that in automatically generated pages that will adapt to any new content available.
We’ll also work on an exclusive Waves payment system, the buyer will be able to buy something from a retailer in any valuable token he owns on his Waves wallet. Conversion will be done with real time market data from the Dex (order books) and the retailer will receive its chosen token as payment(or Waves, BTC, Eth…), transaction will be done on the Dex in real time with the available buy orders. This payment functionality may be added to Waves payment terminals we’re already working on for a future family entertainment center.
Other projects we’re currently working on are PoS4All (An automated Proof of Stake system we will release as a community service available to any asset created on the Waves platform) and several data storage/analysis tools (A serverless Wikipedia on the blockchain as an experiment, why not?).”
As the value of Waves increases, with the rise of ICOs, applications built around Waves will become vital for Waves to become mainstream. Other than increasing the value of Waves, buying OceanLab tokens also gives investors revenue share. Furthermore, funds raised will not be dumped onto the market initially and the team will work with a low budget. With the only maintaining 5% of the supply for future development, and 93% available for the public through the ICO, the OceanLab team are being extremely generous with their ICO. OceanLab is a well rounded token that is not only likely to increase in value as the revenue from applications are shared, but also indirectly boosts the value of Waves too.
If you wish to join the Oceanlab ICO, head to http://ico.oceanlab.eu/. In order to participate, you will need to create a Waves wallet and send the token of your choosing to address on the OceanLab ICO website from your Waves wallet.