Funding has been a hard thing to come by recently, especially for Blockchain and Crypto projects. Waves Platform however, is a Blockchain network that managed to easily raise $120 million in a single funding round. The funds were enough and the network is ready to release Vostok.
Vostok is the Waves Private Blockchain platform and system integrator. The whole concept was designed with the idea to cooperate with Public Institutions and large Enterprises. Financial services firm, Dolphin led the fundraising round. It’s no secret that 120$ million isn’t a small amount of money and the first round involved mostly private investors.
The news about Vostok has helped the Waves Platform native Cryptocurrency by quite a lot. After the announcement Waves’s market capitalization reached a little over $400 million. The founder of Waves, Sasha Ivanov believes the market is in a desperate need for quality decentralized networks like Vostok. This demand will also keep increasing as he stated:
“While the crypto rush may be considered a thing of the past, the idea about decentralized networks storing data and cutting costs is very much alive and well”
The Waves private Blockchain is one step closer
Ivanov believes that in the current Crypto ecosystem, Private Blockchains are simply filling the void left by public ones. This is mainly due to the fact that Private Blockchains can afford to offer better data protection. Vostok will target markets mainly in Europe, former Soviet republics and Asia. The platform’s initial projects will start going online in Q1 and Q2 of 2019.
Just a few months ago, the Waves Platform managed to beat a personal record as it managed to go over 6.1 million real-time transactions in a stress-test. The results were amazing since there were absolutely no delays or disruptions during the entire test. Users also did not experience slowing down, related to token creation or decentralized exchange orders.
At its peak, the platform was able to handle hundreds of transactions per second. Waves’ native token also managed to enter the top 20 list of Cryptocurrencies based on market capitalization. A big reason for that is the smart contract functionality, that was added in September. Earlier in December of last year, the platform also released a wallet add-on for Mozilla Firefox.
Things are going well for Waves, in a year which was largely recognized as bad for cryptocurrencies. This is a good sign for the platform’s development. Waves is planning a second funding round for 2019. Additionally, the Waves Blockchain own decentralized exchange plans to launch trading on its Maltese Virtual Financial Assets Exchange in 2019. The decentralized exchange on the Waves Blockchain has over 65 tradeable listed coins.