Waves (WAVES) is gaining on the strength of a new smart contract. The announcement proposed new smart accounts – non Turing Smart contracts – that have added benefits and offer a viable solution to Ethereum’s gas problem. Waves CEO Sash Ivanow said the company will impose a standard transaction fee and get rid of gas costs.
“We are creating a user-friendly blockchain platform that will be easy for anyone to use. To achieve this we are trying to look at the system through the user’s eyes and understand what they most need. This is the essence of our approach to Smart Accounts.”
The WAVES/USD value on Binance rose from 1.90-fiat to as high as 2.76-fiat on the day of the announcement, amassing over 45 percent gains. As of now, WAVES/USD has a decent support around 2.19-fiat, which initiated the bounce back towards the intraday high near 2.67-fiat. During the bull market, WAVES reached an all-time high of $18.07 on December 19, 2017, quickly sliding after that. This makes WAVES one of the assets that wiped out as much as 90% of their value since peak prices.
The last time we covered the company was during a bounce after their announcement with Deloitte. 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.
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.
The platform regularly lines up as one of the more active networks based on Blocktivity data, with an average of 52,911 daily transactions in the past week.