Waves Launches Decentralized Token Exchange ‘Matcher’

The Waves platform is releasing two of its signature features on mainnet: the decentralised exchange (DEX) and Leased Proof-of-Stake (LPoS).

The Waves blockchain platform is launching its decentralised exchange (DEX) on mainnet. DEX can be accessed via a full node or the API at start, but will be available in the lite client for all users in due course.

At the same time, Leased Proof-of-Stake is being released on mainnet which will allow anyone to lease their mining power to a full node and receive rewards while increasing network security.

New transactions will be available on mainnet on April 3, 2017.

Waves DEX: speed and flexibility

Early decentralised exchanges have been created on other cryptocurrency platforms. However, they suffered from a series of issues that prevented them gaining a critical mass of users. Waves’ DEX offers the following unique features and advantages:

  • Asset-to-asset trading. Waves allows direct trading of any two tokens.
  • Speed. Trades will be executed near-instantly thanks to the matching engine, but are still settled on the blockchain. This means that traders can be confident their trade has been processed, whilst maintaining security and having full access to their funds.
  • Crypto and fiat tokens integration. Users will be able to trade most popular crypto and fiat assets represented by corresponding tokens. Waves’ low fees will also make high-volume trading possible.

When the GUI is completed for the DEX and integrated in the lite client, traders will enjoy a familiar, straightforward user-experience. The DEX’s interface will be immediately recognisable, similar to the bitcoin/altcoin exchanges that are a key element of the cryptocurrency world.

Matcher nodes

The Matcher enables near-realtime trading thanks to a completely new piece of technology. Matcher nodes pair buyers and sellers, executing trades instantly whilst still ensuring these are ultimately settled on the blockchain for maximum transparency and security. Previous decentralised exchanges have proven slow and unreliable, because it was impossible to know whether an order had successfully been filled until a block was confirmed.

Matchers will receive fees for the service they provide, adding another revenue stream for Waves full nodes. 

Leased Proof-of-Stake

In addition to the release of DEX on mainnet, ordinary users will be able to lease their mining power and receive rewards from the fees from transactions that the node processes – yet the holder maintains full control over his funds, and can cancel the lease at any time. Only two transactions are required: Lease and Cancel. WAVES mining power is leased to an address associated with a full node. Leasing will shortly be implemented within the lite client.

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For more information, visit www.WavesPlatform.com.