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Waves Enterprise Releases Major Network UpgradeWaves Enterprise is releasing a major network upgrade. Version 1.0 will see a number of significant improvements and updates to the platform, which is designed specifically for use by enterprises and the public sector. Corporate clients want to translate their complex business processes into blockchain logic with a minimum amount of pain. Most of them want to upgrade their contracts in the future without rewriting all blockchain structures. Unfortunately, most of the business applications or their APIs have to be redesigned. ?nd it is hard to use them for smart contracts, which introduces additional costs for businesses. Moreover, the data with which smart contracts work on a closed blockchain is more sensitive than on public networks. Waves Enterprise offers a universal blockchain solution for corporations and the public sector. We significantly improved our solution thanks to a major network upgrade to the Waves Enterprise v.1.0 and the implementation of a number of key features. These include containerized smart contracts, improved performance, an updated API, and an improved user interface. Now you can execute hundreds of contracts per minute. "By 2021, 90% of current enterprise blockchain platform implementations will require replacement within 18 months to remain competitive, secure and avoid obsolescence, according to Gartner (News - Alert). Our solution will be relevant for many years to come. The release features containerized smart contracts improved performance, new tools, and an upgraded API. Besides, we have focused on security for the existing protocol. In speed, our solution now surpasses all available corporate solutions in the market", - says Artem Kalikhov, CPO of Waves Enterprise. "There is now a transition to a new generation of IT systems and a new system of interaction between companies and even people. We are talking about the interaction between companies, which can be transferred to new tracks. This became possible with the advent of blockchain. This technology is designed to shape ecosystems in which participants trust each other", - says Alexander Ivanov, founder of Waves. The platform was launched earlier this year to address the unique needs of enterprise blockchain adoption, and features a high-performance network, private and hybrid blockchains, multiple encryption modules, and containerized smart contracts written in any popular programming language. What's new in 1.0? This major release sees several key features dployed and important new functionality for enterprise customers: Authorization service We have implemented authorization services into the system to achieve enterprise level security under oAuth 2.0 specification.
All of this functionality can also be integrated with other Waves Enterprise services. Containerized smart contracts - improved performance
At present we are trying to place 600,000 records per hour into a contract. Ability to update containerized smart contracts
Greatly improved stability for PoA and PoS consensus algorithms In the case that the load on the network exceeds the maximum allowed, the blockchain retains consistency. We have removed the restrictions on blocks that we inherited from the parent network (Waves Platform). We have conducted tests at maximum load and confirmed stable operation for a period of several weeks on a geographically distributed cluster spanning 13,000 kilometers. Increased blockchain speed Nodes with the following characteristics operate stably: 2 cores, 8 GB RAM (News - Alert). The network creates a block of 2 MB every 12 seconds, with up to 10,000 transactions per block and microblocks every 500 milliseconds. The bandwidth of the Waves Enterprise blockchain network is 8 Mbit/s, which is 1 MB/s. The blockchain is like a data bus. Bandwidth (News - Alert) can be expanded up to 2 MB/s, like Cosmos. Added interface to work with API and updated SWAGGER, with documentation
All of this sets Waves Enterprise apart from its competitors, offering the unique functionality that our research shows is in demand by corporate and public sector clients. About Waves Enterprise The project was launched in July, 2019, and specializes in providing a universal blockchain solution for large companies, corporations, and the public sector - anyone that needs a reliable and secure business process management system with limited access to confidential information. Waves Enterprise allows you to implement various business processes, such as workflow, procurement systems, supply chain management, and much more, on a trusted infrastructure from a secure blockchain. Inside the ecosystem, the WEST system token operates. The total volume of WEST tokens has recently been reduced from 1 billion to 400 million.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191121005738/en/ |
