Waves CEO Sasha Ivanov
Sasha Ivanov conducted a Christmas Q&A that updated investors on current events and the future. The video was the first time recorded within the Waves office itself and had Natalya Malyova, Waves Chief Global Communication Officer, asking Sasha questions asked by the community.
First and foremost, Sasha stated that he is taking to “several” developer team’s that are considering using the Waves platform for their loyalty token. Now that Waves-NG has been implemented, a protocol that currently is processing 100 transactions a second, the opportunity to implement more loyalty tokens is now very possible. In fact, the Waves CEO indicated that there was a “real possibility” of a World Cup loyalty token because the World Cup preparation building is located next to the Waves’ office. While this is not set in stone, it is exciting news considering the marketing possibilities for such a collaboration. Long-term wise, however, real companies are going to be aggressively targeted to move to the Waves platform.
One main theme within the Q&A was a focus on “completeness” within the Waves ecosystem. In other words, Sasha’s vision is to create a complete system that will give business all the much needed to tool to integrate itself into the blockchain. The Waves software built on top of the blockchain is only one element in the ultimate vision. Having the software is one thing, but the pushing of adoption is another. This is ultimately where Waves Lab and Tokenomica come into play. Sasha stressed that Waves Lab will provide the “seed funding”, legal, PR and advisory knowledge needed for these start-up’s to flourish. On top of this is Tokenomica, a free market regulatory body that aims to set regulatory standards within the ICO industry.
Sasha also stated that they soon will be focusing on integrating Waves into hardware/ledger wallets. What ultimately was holding them back was merely a “matter of focus”, in that integrating Waves into these hard wallets is not difficult now that the initial hurdles of integrating DEX and WAVES-NG into the software are now complete. This is a common theme, in that Sasha aimed to prioritize the fundamentals before branching out into other areas. The Waves integration is estimated to be implemented in February.
Technology that is planned to be implemented next year includes Smart Contracts and Atomic Swaps. Sasha stated that the atomic swaps were going to be scalable, user-friendly and cheaper. Also, these smart contracts are going to be implemented over time, beginning with easier smart contracts to more complex in the future. Waves Smart contacts will be focused on “high load, high throughput, and production ready systems”, in other words, a Smart Contracts that do not overload the network with spam like the successful Ethereum application, CryptoKittes. Atomic Swap is also a very technological feature that is planned, where you will be able to swap coins from two different blockchains without entrusting a third party. Another exciting feature that may arise in the future are gateways for Ethereum tokens to be stored on the Waves Platform.
Another question was concerned with the decentralization of the network. When comparing the network to Ethereum, there are much fewer nodes. Countering this was the lowering of the minimum requirement needed to run a node down to 1000. Being that the technological requirements for running a Waves node are quite low, this will see a lot of smaller miner’s entering the network. One question pointed out that the bigger nodes actually get 20% more revenue than other nodes. Sasha responded to this by stating the Proof of Stake algorithm will be tweaked and improved in the future.
The Q&A with Waves CEO Sasha Ivanov goes into more detail into more subjects outside of this article, and it is encouraged you take a look at the above video to listen to the full detail.