WAVES Weekly No. 24

Happy new year to all the Waves community! We’re looking forward to a great year ahead.

Happy new year to all the Waves community! We’re looking forward to a great year ahead.

Waves Community Token

Now that token functionality has been launched on Waves network, we are going to start using it to benefit the Waves ecosystem. The Waves Community Token (WCT) will be distributed over the course of the following nine months. The first tranche of 20% will be distributed after 15 January, based on an average of the WAVES balance held in each address from 1-15 January. Eight tranches of 10% will be distributed after 15th of each subsequent month, based on the average balance over that month. Only balances held in local wallets are eligible – WAVES held on exchanges will not receive WCT.

WCT is a community asset designed to serve a number of purposes. Amongst other things, it will act as a kind of DAO that will operate in conjunction with the forthcoming voting system. Asset issuers will be able to distribute a proportion of their crowdfunded tokens in return for some services. WCT holders will be able to vote on whether a project appears worthwhile, based on their research and opinion. WCT holders will therefore receive a constant stream of assets in time. As a CAT, WCT can of course be transferred and traded freely. In summary WCT aims to:

  1. Reward long-term holders of WAVES

  2. Encourage holders to keep funds off exchanges

  3. Foster community engagement in the wider Waves ecosystem

  4. Create a framework for providing community-based KYC/screening of new assets

You can find out more about WCT on the Waves blog.

Byteball Windfall

One of the first rewards to be distributed to WCT holders will be the Byteball windfall gained by registering some of the BTC held in Waves’ ICO funds. (Byteball is being distributed to BTC holders; no investment or loss of control of bitcoins is required, only signing a message with a BTC address.) Sasha managed to make 35 BTC with Byteball, and this will be distributed as a BTC token to WCT holders after the first tranche of WCT distribution. At this point, the token will take the form of an IOU, which will be redeemable for bitcoin once the first BTC gateway is operational.

Development Update

The first version of Waves mobile app has been completed and is currently in testing. We hope to release it to the community soon.

We have a new Waves block explorer! The preview is available at www.wavesgo.com. You can use this to check Waves addresses, blocks or transactions. If you have feedback for Abuelau and Hawky, who created it, please submit it at http://feedback.wavesgo.com/.

Meanwhile, DEX is still in development on testnet. You can download the new update here and help with testing. Please join the #fullnode channel on our Slack. There are bounties for identifying replicable bugs.

Waves Challenge

Do you want to win 1,000 WAVES or a Waves t-shirt and laptop sticker? Then head over to https://xakep.ru/2016/12/29/coding-challenges-waves-platform/ (click for English translation) and solve the puzzles you’ll find there. Send your answers to evelina@wavesplatform.com. The first set of correct answers received will win 1,000 WAVES, with two runners-up receiving a t-shirt and sticker.

Business Development Update

Sasha has recently been featured on FinTech Profile. You can read his Q&A here. He recently held a separate AMA also, answering a number of common questions about Waves, which you can listen to or read the full transcript.

Anyone who would like to work with Waves is invited to join our Slack to discuss it further, and for technical assistance. Please email rideon@wavesplatform.com for an invitation.

ChronoBank and the Tokes Platform continue to hold their ICOs, both planning to release tokens on Waves network when they finish. In the new year, further projects will be crowdfunding with a view to distributing CATs for their projects, bringing support, visibility and transaction volumes to the Waves network.

Waves Nodes and Lite Client Reminders

If you would like to run a full node, please download the latest releases at https://github.com/wavesplatform/Waves/releases/. Anyone can run a node, but you will need at least 10,000 WAVES to generate blocks. You can read the installation guide here.

For regular users the Lite client can be downloaded from https://wavesplatform.com. Do not download the client from other sources for security reasons. (Please be aware that there have been issues with fake github repositories, as well as fake Twitter accounts and Slack identities.) Alternatively, the standalone Chrome app will automatically update as new versions are released.

Waves Weekly Crypto Roundup

WWCR will be back next week, after the holiday. Our festive episode #13 features ChronoBank. There will be plenty of news, market analysis and updates in episode #14!

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