Waves Enterprise blockchain unveils major updates and hundreds of smart contracts per minute

Fast-transaction blockchain distributed ledger provider Waves Enterprise, an extension of Waves Platform AG technology, announced Thursday major upgrades to its network that brings the platform to Version 1.0 and adds significant improvements that put it into the same class as corporate blockchain Hyberledger Fabric.

Waves Enterprise offers a powerful universal blockchain solution aimed at corporations and the public sector.

Key features added in this update include containerized smart contracts, greatly improved performance, an updated application programming interface for developers and an improved user interface for end users.

“There is now a transition to a new generation of IT systems and a new system of interaction between companies and even people,” said Alexander Ivanov, founder of Waves. “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.”

This is a major release for Waves Enterprise and deploys features that implement important new functionality for enterprise clients.

To start, Waves Enterprise has implemented an authorization service that will adhere to enterprise-level security using the oAuth 2.0 specification. Previously the Waves API was open, thus accessible publicly and available for anyone.

Now users will need to supply login credentials before using the API, this is a measure taken to increase security. Multiple accounts are now supported under one login, node administrators can now control keys from the client app and a single account can now be used across all services.

The platform now supports containerized smart contracts. Smart contracts are a fundamental part of distributed app programming on blockchains, they allow for executable contracts that only trigger when certain criteria are met and can perform logic-based transactions at…

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