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New addition to Waves ecosystem, Vostok, secures $120 million in investment

Waves begins the process of activating smart contracts on mainnet

The Vostok project, part of the Waves ecosystem focused on implementation of Waves technologies in enterprise and government IT-systems, announced it has secured a USD $120 million funding round from private and institutional investors.

Blockchain technology has become more adaptable for use in the enterprise and the public sector — it is now possible to build customizable high-performance networks, without compromising security and privacy.

In a bid to leverage these new capabilities, and motivated by their initiative to build and develop a blockchain layer of Web3, Waves developed the Vostok platform.

While compatible with the Waves public chain, Vostok represents a universal blockchain solution for scalable digital infrastructure comprised of two constituent elements:

  • a fundamental technological innovation — the Vostok private blockchain platform;
  • a means of maintaining, developing and optimizing the platform — the Vostok system integrator.

The project looks to not only benefit the market position of the growing Waves ecosystem as it uses the Waves-NG protocol, but also the Waves community will gain through planned airdrops of 3% of the overall supply of Vostok System Tokens (VST).

The Waves team is also looking into the legal conditions for running a public VST token sale exclusively for Waves token holders. If the public sale is deemed legally viable, it will be carried out only through Waves system token.

System Integrator

The launch of the Vostok project will be followed by the establishment of a new global integrator company, focusing on both private blockchain implementation in large enterprises and public blockchain implementation in services that require open blockchain approach.

In support of this exciting endeavor and its deployment on a larger scale, the Waves team says, “It has been fortunate enough to establish a number of fruitful partnerships with leading technology companies, financial institutions, public service providers and enterprises.”

The upcoming system integrator will see the Vostok platform positioned to form the foundation for a digital infrastructure for the certification, registration, and tracking of data in these sectors.

Web3

With a key emphasis on security and user accessibility, Waves has built a complex ecosystem of services, communities and satellite projects unified around the notions of decentralization, transparency, and accountability.

Continuing on this trajectory, Waves has embarked on a mission to become the advance Web3, developing internet technologies (AI, IoT, etc.) powered by blockchain technology to support a truly open and decentralized web.

“Our accumulated experience and technical knowledge, as well as ever-expanding ecosystem and portfolio, have definitely been the driving factors behind the success of the project’s development. In general, Waves Platform will continue to identify gaps in the market and opportunities for Internet-based technologies (blockchain included) to facilitate productivity and performance of internal systems across industries.”

Waves Team

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