WavesGo Lets You Launch Your Own Cryptocurrency Gateway
Waves’ new framework – WavesGo – makes it faster and easier than ever to deploy gateways for new cryptocurrency coins.
The Waves Ecosystem Continues to Expand
The Waves ecosystem already offers the fastest blockchain in the world, a safe and secure multifunctional wallet, a decentralized exchange, and the ability to issue your own tokens. Now, Waves continues to benefit the cryptocurrency community as a whole by making the creation of gateways easier and more seamless than ever.
What are Gateways?
Gateways are an important and crucial feature of the Waves ecosystem. In essence, they afford users the opportunity to deposit various currencies and receive dedicated Waves tokens, which are securely held in the gateway and backed 1:1. These tokens can be transferred and traded at will or returned to the gateway for the funds they’re backed by.
Cryptocurrency gateways aren’t subject to the same constraints as their fiat counterparts, which require banking and compliance relationships. Rather, anyone can easily and seamlessly set up a gateway for a new coin, thanks to WavesGo — which removes the technical overhead from a normally-intimidating process.
WavesGo Takes Care of the Hard Work
The Waves ecosystem has grown extensively recently, and WavesGo is the latest addition to the Waves family.
WavesGo originally started as a block explorer but has evolved to boost the Waves ecosystem with a variety of services. Most importantly, it provides a framework that removes the complexity from launching a new gateway, allowing coin teams to incorporate their project with Waves and grant their community the ability to trade it on DEX.
The WavesGo framework takes care of all the work that comes with integrating blockchain elements that are common for all coins. Only the unique aspects of a particular cryptocurrency need to be supplied by developers — specifically, the interface to their protocol.
WavesGo has already integrated Litecoin (LTC) into the Waves ecosystem using this method, proving the efficiency of the framework. Only roughly 100 lines of code were needed for Litecoin — the rest was provided by the gateway framework.
What are the Technical Requirements?
The WavesGo gateway framework is implemented in Python3. This means that the blockchain for which the gateway is being developed also needs to be compatible with Python3 — a feat easily achieved by utilizing a special Python API, or via a standard interface like JSON-RPC, REST, etc.
Ultimately, integration with the WavesGo gateway framework is simple, as gateways require the existence of seven common interface standards.
The WavesGo framework is now available for all eyes to see, and other blockchain projects may use it and build on it — creating new gateways to the Waves ecosystem. This will bring even more liquidity onto DEX, while ultimately benefiting the cryptocurrency community as a whole.
What do you think about Waves’ latest addition to its ecosystem — WavesGo? Do you think the framework’s ability to take the hard work out of creating coin-specific gateways is beneficial to the entire cryptocurrency community? Let us know in the comments below!
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