Waves is implementing new technology, which will enable the network to process thousands of transactions per minute – making it the fastest decentralised Blockchain platform in the world. This innovation will bring Blockchain technology to the next level of evolution, enabling it to compete with mainstream payment processors and to achieve mass-market adoption. The public stress test has begun on 8th November.
“Waves-NG”, a next-generation technology designed to increase effective bandwidth and speed of block creation, is especially significant for businesses using Waves platform, since it allows conducting microtransactions without any delays which are typical for traditional Blockchain systems. It also allows the platform to withstand high loads, such as distribution of tokens following crowdsales and airdrops of bonus tokens. The speed of processing trading transactions on Waves decentralised exchange (DEX) is increased as well.
The prototype for the development of Waves-NG was Bitcoin-NG, a protocol developed for Bitcoin by Emin Gün Sierer, Co-Director of the Initiative for Cryptocurrencies and Contracts at Cornell.