Waves X

Schildhauer

Waves X

sophisticated cryptocurrency as a result of

Waves fork

Waves X is new advanced cryptocurrency that will be created as a result of fork Waves – a token underlying the popular platform for ICO fundraising and digital asset publishing. Wave X is characterized by high transaction speeds, increased levels of decentralization, and broad community involvement. It also offers higher benefits for block validators because of the adoption of the Proof-of -ake / Proof-of-Work hybrid consensus protocol. Platform Waves is a pioneer in the field of publishing tokens and ICO thanks to its simplicity and affordability. However, in the current conditions, Waves faces a number of serious challenges that cannot be resolved without major system changes. In the first part of this White Book, we introduce the advantages of the “old” Wave that is worthy of admiration and will be stored in Wave X, and provide detailed descriptions of its main weaknesses. Among them are excessive decentralization, lack of financial incentives, and limited smart contract functions.

Waves X bertujuan to be a user-friendly platform for launching new projects, which will meet the needs of founders and large, self-funded teams that include professional coders. Smart contracts are an important element of such a system: indeed, while someone can issue tokens and collect funds without a smart contract, people certainly cannot build applications that function without it. The fact that a smart contract has not been on the Waves Platform for two years has led to the emergence of dozens of useless and low-quality tokens that are not needed by anyone. By introducing a fully functional smart contract as soon as the platform is launched and pairing it with a community voting mechanism, we can ensure that only feasible projects will issue tokens and make dApps on Waves X. Unlike the original Waves platform, Waves X will use neutral language, which means that it will be possible to compile new smart contracts in the Turing-complete programming language, including JavaScript, Solidity, C ++, Simplicity, Python, Vyper, and RIDE. It is also possible to migrate the existing dApp to the Waves X platform quickly and easily. New functions will be added continuously, starting from a large introductory package that will include blocks and ready templates. In this case, the Waves X development team was inspired by a successful WordPress model – a website creation platform. On WordPress, users can get free access to a large number of blocks, widgets, and extras that have been compiled before, with more advanced functionality available at a cost as a premium package. In general, the better the code, the less premium is needed.

Challenges and disadvantages

The Waves platform clearly offers advantages not found on

other blockchain platforms, such as speed, fixed costs, and ease of use. This is the quality that is

admired by the development team of Waves X and will be brought to a new network after a difficult time

. However, it is impossible to deny that Waves’s model, concept, and execution

also contain a number of very serious weaknesses: from claims of decentralization to

security vulnerabilities.

Why does Waves do Hardfork?

Well, first of all, we know that Waves did a number of very good indicators and received significant ratings, released many tokens and also received many thanks from the ICO project, namely in the simplicity of creation and accessibility. However, if you see the current situation of all tokens, news, attacks, security holes, then you need to take action and therefore WAVES decides to make a difficult fork, which will change serious and significant changes in the system.

At the launch of the Wave of Decentralization Exchange X.

Waves X – offers us the necessary and convenient tools that are clear and easy to use, which will be significantly successful in trading for crypto traders. Yes, I want to tell you that there will be a very important part for traders, the following funds will be included in the exchange (ERC-20, BTS, Ethereum, etc.). In addition, users will be given high-speed P2P exchanges.

Waves X – future plans for creating derivative trading and providing margin loans.

Why Waves of Decentralization X, and not other competitors, and what are the differences?

The fact is that Waves X will implement matching orders without chains, that is, users of the Waves X platform will be able to send their orders to the entire network without recording them on the blockchain, thereby reducing delays in time and transaction costs.

Conversely, look, the network elements in which all transactions through exchange will not have access to the matching process, so Waves X will make it possible to decentralize the trading process, while maintaining its speed and availability. Also, misuse of forms (frontline orders) would be very possible with Wave X. And hacking exchanges is almost impossible – this is a strong advantage of Wave X