An altcoin continues to rise while bitcoin (BTC) and the cryptocurrency market move sideways. Smart contract blockchain platform Waves (WAVES) is trading at $27.46, up more than 60% from where it was priced a week ago.
Ranked 50th by market value, the crypto asset has increased by 147% in a month despite the stagnant market. Waves allows users to create, launch and trade their own crypto tokens. The platform also gives developers access to a variety of ready-to-use tools and products, empowering them to create new tokens as well as create decentralized applications. Waves’ current locked-in total value is around $2 billion.
Last month, the network announced the transition to Waves 2.0, which includes the implementation of the new version of Waves Consensus based on Practical Proof-of-Stake Sharding.
Waves released the following statement:
“Development of our highly scalable and [Ethereum Virtual Machine compatible] network will begin this spring. The new network will connect to the existing network for a smoother transition to Waves 2.0 without reducing the value or effectiveness of the old network.”
Waves Labs, the blockchain technology company behind the project, also plans to launch a $150 million fund and an incubation program to support US-based development teams building projects on the network.
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