Blockchain Platform WAVES Partners with Bitcoin Wallet Company Mycelium

Rage Review : WAVES is an open blockchain platform that wants to tokenize international currencies. Its core capabilities are to issue, transfer and exchange traditional blockchain tokens. It has cooperated with Bitcoin wallet supplier Mycelium to allow users to send legal currency tokens through smartphone applications. Sasha Ivanov, founder of WAVES, believes that this cooperation and the powerful equipment provided by WAVES blockchain legal currency will make Mycelium wallet popular and widely used.

Translation: Nicole

WAVES, an open blockchain platform that aims to tokenize international currencies, has partnered with Bitcoin wallet provider Mycelium to allow users to send fiat currency tokens through a smartphone app.

Both WAVES and Mycelium are running crowdfunding campaigns, with WAVES having raised over $3 million so far. Funds from Mycelium’s public presale will fund upgrades to the new “Swiss Army Knife of Crypto Apps” wallet, which includes support for a wide variety of APIs, general wallet storage functionality, and the ability to store and trade a range of cryptocurrencies and digital assets.

The statement said that the core capability of the WAVES platform is to issue, transfer and exchange traditional blockchain tokens - including national currencies related to market making services provided through the fiat currency gateway. In addition to liquidity provision and exchange services, the gateway will also follow the Know Your Customer (KYC)/Anti-Money Laundering (AML) strategy, so the decentralized blockchain value transfer is fully compliant. Tokens related to fiat currencies will be used in decentralized crowdfunding.

Mycelium’s Bitcoin wallet software already has over 200,000 users, and this upgrade will see the integration of WAVES’ fiat assets, the decentralization of blockchain technology, making the transfer of national currencies more efficient. It will also see third-party developers and blockchains adding a host of new features to the Mycelium Bitcoin wallet, taking advantage of the mass market in the fiat currency world.

Sasha Ivanov

Sasha Ivanov, founder of WAVES , said in a statement:

“We are very excited to be working with Mycelium. This is a perfect match: the powerful facilities provided by the WAVES blockchain fiat currency will make the Mycelium wallet popular and widely used.”

This opens up a whole new era of financial technology, and we believe this collaboration will bring huge benefits both within and outside the digital currency community. We know that banks and financial companies want to use blockchain technology, but they talk more about using permissioned ledgers.

WAVES believes that the public ledger can be used by anyone (banks, consumers), while also complying with the jurisdiction's KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements.

Ivanov said some payment systems will be tested using public blockchain technology and will be launched this summer.

The WAVES platform will use a proof-of-stake mechanism to reach consensus on the blockchain. Ivanov said the point-of-sale (POS) system has similarities to Casper, where Ethereum PoS managers punish troublemakers on the network, but will not be available at launch, and will only provide basic management.

He added that the WAVES system will use gateways for token transfers (like the Ripple architecture). The network's built-in tokens and custom tokens can be built on top of the Ripple architecture. He said that in order for the network to operate normally, about 1,000 nodes are needed.

WAVES is still in the development stage, and the testnet is already running. The crowdfunding campaign will last until May 31st, and the WAVES platform will be released in the summer of 2016.