How Waves community benefits from Vostok.

How Waves community benefits from Vostok.


There are some questions from Waves community regarding the private blockchain project which is being launched now, especially about the ways it benefits Waves community. People quite often tend to find negatives where there aren’t any, so I think some further explanation could be useful.

First off, the general idea is to build a solution which complements current Waves chain and makes the ecosystem complete. As you probably know you can’t really create enterprise-grade solutions on open chains now, but the whole momentum of the current blockchain progress lies exactly in the enterprise sector. So Waves community needs to benefit from this as well.

How it is going to work:

  • The development team will be unified, there’s not going to be a separate Vostok and Waves dev teams. Things that are tested on the closed chain can be transferred to the open chain, and vice versa. That is going to make Waves development faster, and will allow us to implement more features in less time. The budget for Vostok is added on top of Waves development budget, of course we do not use funds reserved for Waves development for Vostok.

  • Public part of VST token sale is going to be conducted using Waves only. There won’t be any other way to participate in VST token sale. People who want to participate either need to hold Waves or buy it from the open market.

  • Waves holders receive 3% of VST tokens airdropped to them, no strings attached.

  • Waves and Vostok chains are going to be fully compatible. Tokens issued on Waves can be swapped to private chain.  And on top of that, Waves chain can become a subchain of the Vostok chain, being secured by its permissioned nature.

  • There is going to be a integrator company launched as part of ecosystem, the economic model behind VST is based  on the fact that companies that need integration services will be paying for it in VST. BUT, the same applies for the projects that are going to be realized on Waves chain - companies are going to pay in Waves for it, and the integrator will actually be doing projects on both chains.

Everything is being planned out to boost value of Waves platform, make it more complete and prosperous. There’s no Vostok and Waves as two separate entities, they are basically two sides of the same thing.