Smart Contracts Arrive on Waves Mainnet

After a successful voting process, smart contract functionality is now available on the Waves platform. The first phase, named Smart Accounts, is live on the Waves mainnt.

Waves is a blockchain project that enables people to create their own tokens in an instant without any knowledge of programming. The purpose is to bring the advantages of the blockchain to common people. Waves incorporates other services such as the Waves Client and DEX.

Smart Accounts Activation

On September 26, 2018, Waves announced that Smart Accounts are finally activated on the Waves mainnet.

In a previous update, Waves announced the start of the process of activating Smart Accounts on its mainnet. The feature is now activated as it meets the 80% of blocks approval requirement in the voting process.

It was introduced as planned on block #1,190,000.

Smart Accounts is the first stage of Waves Smart Contract launch. Smart Accounts are non-Turing complete smart contracts, which in layman terms, means smart contracts with limited functionality.

Smart Accounts open up the opportunity to create decentralized applications on the Waves platform. They can be set up using the RIDE IDE. RIDE is a unique programming language used to implement Waves Smart Accounts.

A tutorial on the Waves Console and how to create smart contracts is explained in the video below.

Waves Recent Achievements and Updates

A recent notable achievement is Waves recording 1 million wallet users on its platform. This is a significant landmark, and the platform hopes to draw in even more users with the new smart contract feature.

Thus far, Waves is making good progress on its goals for 2018. The launch of non-Turing complete smart contracts is a significant milestone reached. Other developments made so far in 2018 include the new and improved look for Waves DEX and the new Waves Client V1.0.

The next phase of development is to implement the Turing Complete smart contracts. This is due before the end of 2018, according to the Waves roadmap.

Waves continues to show great potential towards mainstream adoption, and the activation of smart contract functionality could be the trigger for higher trade volume for the Waves cryptocurrency.

Related: Cryptocurrencies in the Top 100 With Working Products That Are In-Use

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