WAVES Weekly No. 25

This week we have a series of updates based on the developing Waves technology. Leonid Reyzin gave the presentation ‘Improving Authenticated Dynamic Dictionaries’ at Real World Crypto 2017, in which he discusses ways to streamline the large and growing key value store associated with blockchain transactions. Using authenticated data structures allows the continued use of lower-powered devices to maintain the network, and enables greater efficiency than current approaches.

Real World Crypto 2017

This week we have a series of updates based on the developing Waves technology.

Leonid Reyzin gave the presentation ‘Improving Authenticated Dynamic Dictionaries’ at Real World Crypto 2017, in which he discusses ways to streamline the large and growing key value store associated with blockchain transactions. Using authenticated data structures allows the continued use of lower-powered devices to maintain the network, and enables greater efficiency than current approaches.

These methods will be integrated into the Waves protocol. You can read the paper at https://eprint.iacr.org/2016/994.pdf and find the code at https://github.com/input-output-hk/scrypto/tree/master/src/main/scala/scorex/crypto/authds. In the meantime, storage is being refactored and optimised, which will result in reduced blockchain size and prepare the Waves platform for different implementations coming in the near future.

https://www.youtube.com/watch?v=PHY7JnLrK5o

With this is mind, an updated scalability roadmap for Waves will be released in due course. Aside from the above improvements of reducing proof size and speeding up verification, it will allow miners to process only the assets they want to, but validate all of them.

Readers may also be interested in the recent Real World Crypto 2017 presentation by Evan Jeffrey from Google Quantum A.I., in which he suggests that it may be as much as 10-15 years before scalable, fault-tolerant QC is working properly.

News and Dev Summary

The Waves Community Token (WCT) will be launched next week, after the first snapshot of WAVES balances ends on 15 January. This is a Waves CAT that will be distributed over the course of the year, with the intention of rewarding long-term holders of WAVES, encouraging people to keep funds off exchanges, fostering community engagement in the wider Waves ecosystem, and creating a framework for providing community-based KYC/screening of new assets.

One of the first benefits of holding WCT will be the distribution of the Byteball windfall gained from registering some of the Waves ICO funds. 35 BTC will be sent to WCT holders in the form of a WavesBTC token, which will be redeemable for BTC through gateway to be implemented in due course. This will also enable users to understand how BTC and different cryptocurrency gateways will function in the Waves ecosystem. You can find out more about WCT on the Waves blog.

Additionally:

  1. The Waves mobile app is currently in testing.
  2. Check out the new Waves block explorer and leave feedback!
  3. Download the latest testnet update for DEX and help with testing.
  4. Win 1,000 WAVES or a Waves t-shirt and laptop sticker (English translation).
  5. ChronoBank and the Tokes Platform continue to hold their ICOs.
  6. WWCR is back this week – stay tuned for episode #14!

Waves Nodes and Lite Client Reminders

If you would like to run a full node, please download the latest mainnet release 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.

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