Waves, the open blockchain platform has released a system update to start the process of activating Smart Contracts on the Waves MainNet. The Smart Contract protocol will be activated a week after the mining community consensus reaches 80% of the votes.
Source: blog.wavesplatform.com
The first stage of the launch is set to bring the Smart Accounts onto the platform. The company explains that in layman’s terms, Smart Contracts are non-Turing complete smart contracts which allow the execution of code on the blockchain, but with deliberate limitations on functionality to avoid unwanted usage scenarios and to increase the reliability of the system. The company says that they are deliberately not providing users with the ability to interfere as they tend to avoid unpredictable complexities which might arise in some situations.
Smart Accounts will apply to different token operations and are said to be in play for providing the most sought out features in the crypto community such as:
- Multi-signature wallets
- Atomic Swaps
- Token Freezing
- Whitelist Voting
- Data Oracles
Source: steemit.com
“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.”, commented Sasha Ivanov, founder, and CEO of Waves.
Waves Platform is an open blockchain platform which is designed for ease of use and mass adoption. You can learn more about the platform here.
For more about the new launch, visit the official Waves Steemit blog.
