Waves Enterprise, a blockchain platform for corporate customers, has announced a number of major upgrades to version 1.2. These include a licensing system, a new data crawler, anchoring and other major enhancements.
The new licensing system
The Waves blockchain platform introduced licenses for Waves Enterprise proprietary technologies. Any newly created private network will be able to operate in unlicensed testing mode until the 30,000 block is reached (approximately two weeks). Thereafter, a license must be purchased to continue operation.
There are several types of licenses available:
- A license to test the platform and technology;
- Commercial license;
- Non-commercial license;
- Mainnet license, valid only for the use of the technology on the main Waves Enterprise network. This is free, but requires the node to have a certain amount of WEST tokens in balance;
- The licenses can be purchased for a period of one or two years, for indefinite use. In the future, the option to rent a license for the period of use will also be added. When the license expires, the node will no longer be able to create transactions, but will only be able to read data.
Increased speeds for containerized smart contracts
Version 1.2 has implemented an updated protocol for communication between a node and a container that has a smart contract. The REST communication protocol was replaced with the binary gRPC. This allows to increase the speed of execution of the contract up to 70 times. As a result, business processes involving an industrial load of billions of transactions per year can now be served.
Updated data crawler on blockchain Waves platform
Another component of the update is a new data crawler; a tool responsible for transporting data from the blockchain to another service. Thanks to a rebuilt engine, the new crawler is faster and more stable. A detailed error description facilitates data crawler deployment and adjustment.
Private data exchange within the client
The Waves Enterprise corporate client now accepts complete work with private data in the interface. Previously, this functionality was only available through the node API. The interface also facilitates the creation and editing of groups for sending / receiving private data. The private data exchange option is only available to node owners.
Anchoring
Update 1.2 also offers anchor functionality, which allows the interconnection of two or more networks. Data written on a single blockchain can now be copied to other networks and facilitates increased decentralization.
The solution provides anchors between Waves-like networks, such as Waves Platform and private networks based on Waves technology. The anchoring system offers higher transaction speeds than other cryptocurrency-based anchor solutions.
The anchoring functionality can be enabled in the configuration file of any node, as well as in the Waves Enterprise client application.
Other enhancements to the blockchain Waves platform
The Waves Enterprise admin interface has been updated to include the authorization service. Adding users and creating your account are now available in a single interface. The integration of user management systems has also become more convenient.
In addition, the node core has been optimized, including mechanisms for building blocks and operating the network layer. Consequently, the level of resources needed to maintain the same yield was halved. This, in turn, will reduce operational costs and hardware requirements.
Waves Enterprise offers data privacy, configurable encryption and smart contracts in agnostic language.
Currently Waves cryptocurrency is trading around $ 0.8 and is among the few cryptocurrencies that have not been affected by the recent decline in Bitcoin.
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