Waves, a leading blockchain platform focused on providing support for tokenization and also helps new entrants to list and conduct ICOs, has raised $120 Million for its new venture, Vostok. The news came into the public domain through an official Blog post dated 19 December.
Waves platform has gradually established itself as one of the global leaders in the blockchain business, by providing the technical resources and guidance to upcoming and new projects. The latest partnership is aimed at creating a ‘universal blockchain solution.’ The project combines the expertise of Waves private blockchain network with Vostok system integrator, which in turn helps in optimizing and scaling the network.
Waves & Vostok Set To Mutually Expand and Scale Blockchain Technology
The partnership aims to deploy Waves technologies through its Vostok blockchain network and expand the realm to more commercial as well as government IT sectors. Once the collaboration reaches its threshold, it would lead to the development of modernly sophisticated techs such as Artificial Intelligence and the Internet Of Things.
The focus would be on development and deployment of a truly decentralized web. Waves started working on the Vostok project in early 2018 and the creators are expecting to launch the project in the first quarter of 2019. The target market would be Europe and Asia.
New Wave of Investment Solidifies Waves Position in Trade Market
The private funding saw major contribution from a London based financial group Dolfin. The CEO of Dolfin, Denis Nagy noted that funding for blockchain industry is little problematic due to the absence of any financial infrastructure.
The news of funding surged the price of Waves cryptocurrency by 30% and its total market capitalization stands at $399 Million. Wave is currently the 19th largest crypto in terms of market cap and currently trading at $3.99.
Waves as a platform aims to become the backbone of blockchain industry. The focus on helping, expanding and creating the best of a truly decentralized network has pushed the Waves into the center of attention. The latest flush of funding has only solidified its position as the leading torchbearer and platform for expanding decentralization to new heights.