As of today the grand vast majority of cryptocurrency and blockchain projects has miserably failed.
Mainly due to the fact that unnecessary services were being launched with the main goal of generating as much revenue as possible, as supposed to providing value to the community and ecosystem first.
Without a shadow of a doubt Waves is one of the few projects that emerged from the ICO mania stronger and better. This is due to the team focusing on building valuable and innovative tools whilst continuously adapting its vision to the needs of the ecosystem.
How Waves is keeping up with the blockchain industry
Of the key factors that contributed in the protocol’s longevity is the fact that Waves went the extra mile to make it easy to use and to build on, mainly due to RIDE – their developer-friendly smart contract language.
As well as being able to quickly adapt to the to the necessities of the market, hence why so many valuable services and products were built on its protocol, for example:
A pioneering solution within the DeFi world is the algorithmic stablecoin called Neutrino, which functions as a multipurpose protocol that can be used to tokenize real-world on and off-chain assets.
A decentralized exchange, was primarily designed for asset transfer, while allowing users to retain complete control of their funds. Today, Waves.Exchange is becoming more of an easy to use front-end interface, maintaining the decentralized aspect of it, while facilitating complex interactions with all blockchain protocols of the Waves ecosystem.
Interoperability has always been one of the biggest challenges in the blockchain industry, the ability for all blockchains to successfully community and exchange among each other.
Traditionally protocols would add an additional dedicated blockchain and introduce a new native token. This drastically reduces the decentralisation nature of the ecosystem as well as drastically making it less user friendly.
An independent team solved this challenge in a out-of-the-box perspective. By introducing a solution that is blockchain agnostic, cross-chain and data oracles protocol that doesn’t require a dedicate native token.
Gravity allows any ecosystem to easily connect with a world of future, open finance protocols and applications.
The product and services above were the solutions to problems and demands that have surfaced in a market is ever continuously evolving. Making it an incredibly interesting case study to monitor for the years to come, as it will give us the opportunity to witness first hand how this protocol will adapt and thrive with the future challenges and demands imposed by the growing ecosystem.