In the highly competitive crypto market, it’s becoming increasingly difficult to maintain a consistent progress. This year, which has seen some devastating performances from the popular currencies and witnessed a boom in altcoins. With the traders selling off their assets in favor of lesser-known alternatives, blockchains like Waves has emerged as a big winner. A little insight into Waves will reveal that the currency is presently trading and is presently trading in the green. What’s more, it has anchored its place in the market as the fastest crypto. If you are unaware about the Waves-craze that’s rocking the market, here’s a summary of its latest accomplishments.
Waves (WAVES): The Fastest Crypto in the Market
Speaking of Waves performance in the market, its uptrend can be traced back to the Bitcoin’s decision of renewing the consensus to embrace the next-generation of blockchain protocols, leading to the formation of Bitcoin NG. Bitcoin NG was conceived by Ittay Eyal and Emin Gun Sirer with the vision of creating an improved blockchain, free from the flaws and deficiencies in the consensus of Bitcoin. Subsequently, Waves adopted the NG consensus that was developed for Bitcoin’s next-generation protocol, meant for rendering the network faster. Wave’s appropriation of the NG consensus was motivated by these factors, as it anticipates creating a lightning fast network that is both user-friendly and rich in high-end security features. At any rate, Waves has successfully managed to achieve fast processing time, where thousands of transactions are executed within just one minute. Needless to say, such a feat is unthinkable and crowns it as the fastest platform in the market.
The above-mentioned consensus, which was added to the Waves Main Net, was introduced last year. Right after the implementation of the consensus, the Waves miners reported the acceptance of the improved Waves NG protocol and its popularity among the mining enthusiasts. Interestingly enough, the algorithm of the consensus, which was developed to cater to the deficiencies in Bitcoin’s existing protocol, was later deployed, alongside Waves NG, as a blueprint to implement the proof-of-stake protocol, making it the first instance where a new generation consensus was integrated into a blockchain network.
Today, Waves, which is acknowledged as the fastest platform in the market, can process several thousand of transactions within 60 seconds, which strengthens its status as user-friendly blockchain network.
Waves Release Smart Contracts on Waves’ Testnet
On April 28, 2018, Waves Platform announced that the Waves Smart Contracts will be available on Waves’ Testnet. It also mentioned that the Testnet, aside from allowing access to the much anticipated Smart Contracts, will offer additional features and can be downloaded from github.com.
As evident from the reports disclosed by the Waves platform, it anticipates taking the project to the moon once the contracts are operational on Testnet. Such an accomplishment definitely takes Waves to a new height wherein it can be included in the list of blockchains aiming to challenge Ethereum’s dominance in the realm of Smart Contracts. Some popular names to join the tribe include Stellar, Zilliqa, Tron, EOS, as well as Ripple, which is armed with its new Codius project.
What is interesting to note is that the announcement of the launch coincides with Ethereum’s security breaches; as per the news, Ethereum, which ranks second by market capitalization, has attracted the critics’ attention as its smart contracts divulged security vulnerabilities.
The Waves Smart Contracts, which anticipate toppling Ethereum’s ascendancy in the field of Smart Contracts, will include the following beneficial features:
- Support for multi-signature wallets
- No gas for non-Turing complete smart-contracts
- Easier and cheaper alternative to the Ethereum counterpart
- Faster distribution and expeditious trades
- Provisions for atomic swaps in the future
- Options for token freezes
- Support for Dapps and other decentralized applications.
The recent updates on the Waves’ blockchain have managed to boost the network’s transaction speed. Apart from executing an average of 100 transactions per second, the platform also comes with other notable advantages like zero restrictions on withdrawals.
Why Waves Stands Out From Its Peers?
The success of blockchain platform can be directly accorded to its developing team, and Waves development team has done a fantastic job, provide users with improved features. Investors can also benefit from ICOHub which allows Waves users associated with different projects to be hauled into the Waves network.
Conveniently enough, all users can initiate crowdfunding campaigns and launch new ICOs, provided the projects are upvoted by the Waves community. Projects with maximum votes will immediately elicit the attention of the development body, which can regulate the projects, helping project owners to actualize their ideas.
When it comes to security, Waves account holders can expect reliable services, with facilities like trading at low fees and within the shortest time span.
Waves and the Crypto Market
With many bigger currencies turning to red, investors vying for profitable currencies, which are not only rich in features but boast top-quality security standards. The growing interest in this promising altcoin can be attributed to its recent updates. As per the price records, the coin has seen some excellent responses in the market. Tracking the price of WAVES, the coin has moved up by 5.02% from its earlier position and has been trading in green. With a market capitalization of $693,948,000 at the time of writing, Waves is trading at $6.94. At this rate, the currency, which is ranked 40 by market capitalization, is prepared to enter a new phase characterized by a steady growth.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Kacper Gunia via Flickr
TRON Partnership Involves Cloud Computing
It has been almost an entire week since Justin Sun, the founder of TRON (TRX), announced a new big partnership for this cryptocurrency. His Twitter announcement did not provide a lot of information, except for the fact that the TRON partnership is with an industry giant worth tens of billions of dollars.
— Justin Sun (@justinsuntron) October 12, 2018
Even so, the entire crypto community started speculating about the new partner’s identity. Soon after the announcement, a new rumor emerged, claiming that the identity of an unnamed corporation was uncovered. According to the rumor, TRON’s new partner is none other than Baidu, one of the largest tech giants of China, which also represents this country’s largest internet search provider.
Baidu is often viewed as China’s version of Google, and if the rumors of a partnership with this company turn out to be true, this will be a big game-changer for TRON.
However, in days following the announcement, new reports started coming in with claims that the partnership will not revolve around blockchain technology. Instead, ODaily reported that the alleged partnership between TRON and Baidu will be focused on cloud computing. The report claims that TRON will be purchasing computing resources from Baidu.
Will Ripple (XRP) advocacy hike affect bitcoin dominance of China?
Currently, China is leading in Bitcoin mining industry by far, second to none for bitcoin mining power. Literally, it’s contributing over 70% of the network’s hash rate (a term that is used in describing the total processing power of a blockchain network). But how Ripple fits in here and what it has to do with that? We’ll talk about that a bit later below, let’s cover some in-depth facts about China’s dominance over Bitcoin first.
It’s a near-complete dominance by China on the BTC mining grid that has made it responsible for mining a majority of circulating bitcoins. A Beijing-based company, Bitmain Technologies, is highly responsible for extracting the significant part – more than half of the globe’s bitcoin, and alone, it has approached 50% of the total hash rate more than once.
The fact that China is controlling a majority of Bitcoin hash rate, clearly tells that it has the power of manipulating or merely destroy the bitcoin network if it gets enough support should it decide to take such a move. Therefore, this has led to serious concerns among countries including the US that China might get an edge in this cryptocurrency industry and possibly becoming a potential threat.
China is the biggest manufacturer of Bitcoin as well as cryptocurrency mining equipment. The reason behind the massive growth of mining farms in the country is because of cheap electricity bills.
Furthermore, the country has adopted several…
Ravencoin (RVN) Surges Following Binance Listing
While most cryptocurrencies today still remain unstable and at the edge of falling into the red, there are some coins that are doing significantly better. One such coin is Ravencoin (RVN), which has surged by over 26% in the last 24 hours.
Ravencoin came to be as a hard fork of Bitcoin and was inspired by a popular book series-turned-television programme, Game of Thrones. The coin’s developers decided to make Ravencoin an open-source project that provides users with the ability to declare assets on their platform. The platform itself is decentralized, transparent, and secure.
Just as Game of Thrones’ ravens are used for spreading the news and truth, Ravencoin hopes to become a carrier of truth regarding the ownership of assets on the blockchain.
Ravencoin’s main use case is for performing P2P transfers, while it prioritizes security, autonomy, user privacy, and control. Additionally, as a coin fighting for truth and transparency, it also stands against censorship.
Ravencoin got listed on Binance prior to MainNet launch
Following the last week’s announcement that Ravencoin is getting officially listed on Binance, the world’s largest cryptocurrency exchange ba trading volume, Ravencoin experienced a large price surge. At one point, the surge took the coin’s value up by over 31%. At the time of writing, however, the coin is still growing, with an increase of 26.15% in the last 24 hours.
Getting listed on Binance has brought Ravencoin to the top…
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