The blockchain-powered tokens platform, whose main objective is the development of the potential of coloured coins, attracted 4,683 BTC in the first 24 hours.

As evidenced by blockchain.info, the initial funding transactions were coming in with such intensity that bitcoin’s blockchain (where all of them were recorded) was unable to clearly show for the first several hours the amount of funds raised. 

WAVES platform is a decentralized blockchain platform that focuses on user blockchain tokens operations. The platform aims at providing crowdfunding, fundraising, financial instruments trading and fiat money transfers with blockchain technology advantages. According to WAVES’s white paper, the project has the ambition to fully realise the classical coloured coins approach, partly because tokens “are often overlooked in favour of the low-level opportunities which blockchain technology might provide, such as smart contracts,” while “custom tokens operations realized as an attachment to blockchain transactions are very flexible and can be used in a variety of applications, from national currencies transfer over the blockchain to decentralized trading.”

“One of the use cases we want to realise from the start is a kind of decentralised Kickstarter – one where anyone can raise funds for their project, but where investors are protected by WAVES’ built-in Blockchain-based reputation system, and where they can trade their stake in a project with third parties or gain an automatic refund if certain conditions are not met,” explains Sasha Ivanov, WAVES’s founder and CEO.

The first clients would be ready for customers’ use at the end of the fundraising period which will continue for 6 more weeks, that is, until 31 May. Asset-to-asset trading will reportedly be provided from the start.  

WAVES is founded and managed by Sasha Ivanov, a Russian physicist who is already well-known in the digital currency world. Previously, Ivanov was involved in the creation of the first instant crypto exchange named Coinomat.com, CoinoUSD or the first crypto fiat token, the first tradable cryptocurrency market Index titled Coinoindex.com and the blockchain-powered venture fund Cryptoasset.fund.

Anna Lavinskaya