The developers of the Waves cryptocurrency platform have announced the addition of smart asset and smart account features to the mainnet, which significantly expand the possibilities for managing and controlling operations.
A smart asset is a token with an attached script that defines the conditions for carrying out each transaction. A user can independently set and change the validation rules for each asset. Before being added to the blockchain, the built-in script checks whether the transaction complies with the specified conditions and, if they are not met, rejects its recording.
The feature can be used to freeze funds until a certain moment, add addresses to blacklists and whitelists, create multi-signature payments, manage fees, and control exchange operations. Conditions can be added only to tokens issued after the update. Initially they can be created "clean" and then supplemented with a script that can be repeatedly adjusted or disabled. Only the issuer can carry out such operations.
Smart accounts are effectively Turing-incomplete smart contracts and use the same approach to tokens as smart assets. They also provide for the execution of pre-established conditions, but with certain limitations, which, according to the developers, increases reliability and makes it possible to avoid undesirable scenarios.
Smart accounts open up possibilities for implementing atomic swaps and two-factor authentication, creating multi-signature accounts and data oracles, as well as conducting voting and freezing assets.
Testing the new features on the testnet took about a month. In addition to smart assets and smart accounts, other improvements and fixes were also introduced as a result of the update.
The innovations stimulated growing interest in the cryptocurrency Waves, despite the general downturn of the cryptocurrency market.
Let us recall that the popular blockchain platform Ethereum also awaits a major update, which should take place in mid-January.
