The Waves Platform has finally released its full node code, allowing anyone to take part in the decentralized process of block creation. Although there have been some delays, the Waves team values security and functionality above anything else, as the community observed through the bug bounty campaigns hosted that helped eliminate several weaknesses in the Waves network. While an important milestone was reached, Waves started working on decentralized 2FA prototype to improve security for their partners, users and clients, the source code is available already on GitHub.
The update v0.3.4 allows anyone to host a Waves full node, as opposed to the centralized structure that has been active until now. Furthermore, this update also brings asset creation into the mix, one of the most important features in the Waves Platform. Assets follow a novel approach that provides scalability enhancements on a technical level with usability and versatility on a business level.
Anyone can now issue assets on the main net, and there will soon be an option to crowdfund the issuance of these assets through the Waves lite client. With time, assets can be freely exchanged on the decentralized Waves Asset Exchange, allowing users to trade assets for other assets, cryptocurrencies, and fiat tokens. Waves team aims to bring trustless high-frequency trading, through order matching, enabling the speed of traditional exchanges without the risk of storing funds with a centralized party. All the main features will be available on lite client without the need to download or store the blockchain.
Waves is the first production system being built on top of the Scorex framework and its assets are structured on a simplified payment verification (SPV) scheme that is based on improved authenticated dynamic dictionaries approach, which allows the system to scale with ease. Furthermore, a combination of the DPOS (Delegated Proof of Stake) and LPOS (Leased Proof of Stake) approaches will allow for processing the transactions faster and more efficient.
Although Leased Proof of Stake is not yet available, it will be one of the most important features in the Waves Platform, allowing anyone to receive interest on their holdings by leasing their mining power to a full node, while having tokens secured in the personal account all the time. Please join the network by following the official guide and configuration process that can be found on github.