Waves (WAVES), a promising blockchain ecosystem, is going to put a large investment in its apps ecosystem and the stock seems be driving higher on this news. The development was announced by the Waves Lab, which originally was an ICO conductor second only to Ethereum.
We’re relaunching @waveslabs and announcing $WAVES grants for #developers! Our goal is to support promising startups and developers focused on building the decentralised tech that will form the backbone for #Web3: https://t.co/YOMwJFlAs2#Waves #Blockchain #Crypto
— Waves Platform (@wavesplatform) January 18, 2019
Well, that same division has turned into Wave Grants and will be helping talented software development teams to launch startups and build decentralized projects. Grants will be lavishly spread to those devs and startups who want to create new software products on the basis of the Waves platform. The company will also help them achieve global mass adoption after the launch. Numbers for those grants could exceed $50 million.
A special committee set up by Waves will be making decisions as to which projects will be sponsored and promoted.
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Waves (WAVES) is a very complex and promising ecosystem. The base layer of the platform is the Waves blockchain where users can create their own custom tokens using plugins, such as, loyalty programs, in-app currency creation or ICO funding. After creating a new token, it can be traded on the Waves decentralized exchange.
For example, the Waves blockchain can transact one custom token against another custom token. In essence, tokenization and trading of any asset is, therefore, possible on the blockchain. An example from the whitepaper is the trading of tokenized national currencies, so with the custom token tied to the USD, I could trade that for the custom token tied to the Japanese Yen on the Waves blockchain.
The Wave Client is the dashboard where you can create tokens, receive tokens and trade on the DEX. This system might be less complicated for ICO-creators as the ERC token is relatively complicated, whereas, the Waves token is a “rideon” token.
“With WAVES, a token is like waves itself — they are treated the same and are held in your address. Plus of course, the platform supports token creation in the core and from the standard waves wallet. Then the tokens created can immediately be distributed and traded on the DEX, with no further work. It’s a far more streamlined and useful approach,” said Ilya Smagin, head of waves smart contract dev team.