Russian tech startup Waves announced it has been testing a blockchain solution for payments in the retail electricity sector.
Waves is a Blockchain platform developed to provide users with the opportunity of creating their own new custom token. Those tokens may be used for loyalty programs, in-app currency creation, and for ICO founding.
Waves adds new tokens or transaction types as plug-ins on top of core software. This feature makes it not necessary for a user to update his or her software each time a new token is added to the Blockchain. The new token can be traded on Waves decentralized exchange. DEX reduces a lot of risks: for example, your funds are stored directly in your wallet, so there is no point in hacking DEX, and there is no central administration capable of freezing your account or your trades. Every token built on Waves may be exchanged in pairs with any other Waves token. The Waves team claims that Waves will soon be the fastest Blockchain in the world.
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