Waves platform launches smart contract functionality

Waves platform welcomed a long-awaited novelty in the smart contracts and decentralized applications (dApps) segment. This development was on 25 June.

Waves introduced itself as a decentralized blockchain ecosystem for building Web 3.0 solutions. Waves expressed on its key takeaway, the RIDE programming language on mainnet using which developers could build fully-fledged dApps on Waves blockchain. Waves extolled the novelty of the new offer.

Waves sustained by adding about the numerous advantages that it had to offer over other platforms like TRON, EOS, and Ethereum. Such advantages are like a better and easier RIDE programming language. RIDE is stated to help developers avoid mistakes in the coding process. The other singular features include formal verification, lazy evaluation, no gas requirements, flat fees for transactions and better scalability properties.

Alexander Ivanov, Waves founder, and CEO expressed – 

“DApps are considered to be the future of the decentralised world and a platform that stays ahead in this battle will rise at the top. We aspire to be at the top because we build original solutions that have never been released before, and take into account the problems of implementations that are already available in the market. For blockchain developers, this means a cheaper and more convenient coding process than ever before, while those from outside the blockchain segment will see the entry threshold substantially lowered and new opportunities arrive.”

Waves shared some vital statistics that in the recent weeks about 500 users had tested RIDE and dApps on the network. This activity had generated traffic of 40,000-50,000 transactions. The current average daily load was around 90,000. Waves clarified that after the mainnet release, they would expect a 30%-50% hike in the transaction. Such an intuitive system eventually help miners to improve their revenues.

Waves expressed on its key takeaway, the RIDE programming language on mainnet using which developers could build fully-fledged dApps on Waves blockchain.

In May, Waves Platform announced its partnership with KYC provider and identity management system Blockpass to introduce KYC Connect to the Waves Platform. Waves is one of the swiftest blockchain framework with practical solutions for end users, businesses and developers.

Waves platform drew the news to a close by elaborating a little more on dApps. Currently, the dApps segment is valued at 3.2 billion U.S. dollars. Analysts predict that there would be a massive boom in the dApps segment. Waves while discussing the versatility of blockchain noted that it would percolate into non-tech areas like election, legislation, and others.