Waves' Vostok corporate blockchain platform launched on the core network

The Vostok project launched the main blockchain platform network for large corporations and government agencies. The corresponding statement was made at the St. Petersburg International Economic Forum (SPIEF).

Simultaneously with the launch of the main network, 1 billion internal tokens of the Vostok system were released, based on the Proof-of-Stake algorithm and ensuring the correct operation of the platform.

As representatives of the Waves told Blockchain Journal, the core network will be used to validate transactions. At the same time, partners and customers of the project will be able to launch their own nodes of the main network and closed subnets. This, according to the developers, will allow them to use all the features of the Vostok blockchain network, saving data exclusively in their own systems.

Now the Vostok project cooperates with large Russian corporate and government customers, including Sberbank, Transmashholding, VEB, Rostec and the government of the Nizhny Novgorod region.

“Launching our platform at the international economic forum in St. Petersburg is symbolic, because, on the one hand, it is the final link in creating the infrastructure for our work in Russia, and on the other, the first step to start international expansion, ” said the CEO and founder of Waves and Vostok project Alexander Ivanov.

Recall that in December 2018, the Waves platform raised $ 120 million to develop the private blockchain Vostok. In May 2019, the cost of the project was decided to increase to $ 1 billion. It is expected that the solutions developed by the platform will be implemented at the federal level through Rostec's subsidiary .

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