Sunday, May 2019
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Waves Smart Contracts Come to Microsoft Azure Cloud
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Integration with Microsoft Azure cloud platform and a special extension for Visual Studio Code will make the process of creating and operating smart contracts easier for developers.

Waves, a global open-source blockchain platform, has issued an update, which includes two types of proprietary smart contracts: smart accounts and smart assets. Waves is deployed in Microsoft Azure cloud, and the new functionality is already available for developers on Azure Marketplace. Two new virtual machine templates in Azure can work for setting up new options on a public or private blockchain.

“Unlike other similar solutions, non-Turing complete smart contracts from Waves offer increased security and protection from vulnerabilities due to an option for restricting functionality to avoid undesirable use”, comments Sasha Ivanov, Founder and CEO of Waves Platform. “A special extension for Microsoft Visual Studio Code editor will simplify the process of writing smart contracts for developers, allowing them to do it in complete integration with Microsoft Azure cloud. I am confident, that users will highly appreciate the variety of opportunities and possibilities opening up for them!”

The functionality of Waves can be used for various cases by both businesses and individual users. Waves provides an opportunity for introducing smart contracts into business processes to ensure their transparency and security. For instance, according to Waves developers, adoption of smart contracts in the field of chain supply management would allow companies to save up to 30% of their employees’ work hours. Other possible use cases are approval of documentation, organization of internal transactions, filing accounting reports, etc.

Waves smart accounts can be used in a variety of processes that require facilitation of certain actions by the parties, cutting out intermediaries. Their functionality includes multi-sig accounts, atomic swaps, two-factor authentication, data oracles, etc. For instance, multi-sig accounts ensure a much higher degree of security for transactions as they require co-signing by two or more users.

Waves smart assets offer the ability to script token behavior. Every new transaction with a smart asset has to be signed by a script before its is recorded on the blockchain. Scripts can also be used for asset freezing and ban on its transfer until a certain block height is reached, whitelisting/blacklisting of certain addresses, controlling asset pairs, etc. Smart assets can be applied, for instance, in the gaming industry for tokenisation of various items. They facilitate conditions for the use of digital elements within the game.

Also, Waves Keeper extension for Microsoft Edge browser has just been released. Waves Keeper is the most secure way for businesses and individual users to sign transactions, enabling a safer operation of services and applications on the Waves platform. The Waves browser extension allows users to manage their private keys and interact securely and seamlessly with Waves-enabled web services and DApps. Waves Keeper is used both for public and private blockchains.

“We believe that supporting open-source platforms and facilitating wide availability of contemporary technological tools for the developer community is very important,” says Konstantin Goldstein, Microsoft Russia’s senior technical evangelist. “Waves is one of world’s leading blockchain platforms, which contributes substantially to the development of an ecosystem for global decentralised solutions, and we are glad to support the company in its development.”

Waves Platform has been deployed in Azure cloud since 2017. Among the company’s plans is the introduction of Turing-complete smart contracts that will facilitate a broader specter of functionalities for users of the Waves’ ecosystem.

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