Waves, a decentralized blockchain platform for custom tokens which raised over $16 million at a crowdsale in June 2016, today announced the launch of a mobile app and bitcoin gateway.
The Android app, provides a way for users to view balances and make transfers on the go. The app also offers developers the opportunity to create their own wallets customized for specific tokens.
The bitcoin gateway allows users to deposit bitcoins to their Waves address, where they can be held as Waves tokens, transferred, or traded on the forthcoming decentralized exchange. With a focus on security, the bitcoin gateway employs secure servers and a two-of- three multi-signature approach. Agreement between the servers is required for deposits and withdrawals to be processed.
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“The secure interface between the Waves ecosystem and the bitcoin blockchain raises the prospect of trustless trading between virtual and real-world currency pairs,” said Sasha Ivanov, founder and CEO of Waves Platform. “Market volatility has made it clear that centralized exchanges pose a threat to the success and adoption of decentralized currencies, and we’re playing a key role in bringing confidence to the digital assets ecosystem.”
The developers say that the bitcoin gateway is the first of several gateways to be implemented on Waves. In the coming weeks and months, EUR, USD, GBP and CNY gateways are planned, as well as the addition of other major cryptocurrencies.
In the case of fiat currencies, the Waves team says that its financial partners will provide insured and audited bank accounts to reflect token balances, maintaining compliance in their regulatory jurisdictions.