Waves have launched its new platform to become the fastest decentralized Blockchain platform in the world as the company has stared the public stress test for its Waves-NG technology on Nov. 8, 2017.
The new technology is aiming to expand the effective bandwidth and speed of blockchain creation that would significantly benefit the businesses which are using the Waves platform. The Waves-NG technology is called to enable the platform effectively to tackle high loads like the distribution of tokens following crowd sales and airdrops of the bonus tokens. It is also created to increase the speed of processing trading transactions on the Waves Decentralized Exchange (DEX).
Emin Gün Sirer, Cornell University’s Co-Director of the Initiative for Cryptocurrencies and Contracts, says: Waves has adopted the cutting edge of Blockchain protocols for on-chain scaling with the implementation of Waves-NG.
“In recent years, we have seen Blockchain technology show the world its unique capabilities and the amazing promise. As well, we’ve seen it hit a wall when it comes to scalability. If Blockchains are to conquer the world, they need to scale. The Waves team is at the forefront of this race to scale. With NG, Waves has adopted the cutting edge of Blockchain protocols for on-chain scaling. Specifically, NG enables Blockchains to minimize latency and maximize throughput. The Waves team has shown that they have an innovative platform that incorporates the best-known technology and is ready for challenges of the next generation of demanding applications.”
Brief details regarding Waves-NG technology
The Waves-NG technology is based on the Bitcoin-NG protocol that is being developed by Sirer for the leading cryptocurrency called Bitcoin. The NG protocol allows an increase in the number of transactions per blockchain while maintaining the number of the forks.
The required information to begin generating the next blockchain is delivered to all nodes very fast after the previous one is generated. Then only a miner can send the transactions that will fill the blockchain to the network in several shares or microblocks.