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Waves (WAVES) Comes Out with Flying Colors

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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

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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