Distributed database that is used to maintain a continuously growing list of records, called blocks
Waves, one of the largest Russian blockchain projects, having successfully launched Bitcoin, USD and EUR gateways, has implemented an Ether gateway within the lite client, opening more possibilities for decentralised trading.
— wavesplatform (@wavesplatform) 19 июля 2017 г.
Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements
As reported, the gateway will enable users to store ETH and trade it against other tokens on the DEX, Waves' decentralized peer-to-peer exchange.
According to an announcement made by Gleb Kostarev, PR Manager at Waves, the Ethereum gateway will work in a similar way to the existing Bitcoin gateway: users will send ETH to the given address within the client and will receive a Waves token in return. These tokens will be backed 1:1 with Ether, and can be withdrawn and exchanged for ETH at any time.
While stored on the Waves blockchain, the Waves ETH tokens may also be traded for other existing Waves tokens, such as WBTC, or WAVES itself.
Ethereum is the foremost blockchain platform after Bitcoin itself, and it’s important to be able to offer users the opportunity to trade ETH on a decentralised exchange. In due course we’ll be adding more coin gateways, broadening our appeal and allowing not only trading but Waves crowdsales that collect a whole range of cryptocurrencies directly.
This new trading feature on Waves gives investors yet another means to access and store value in Ether. The Ethereum (ETH) gateway is now live in the lite client.