The newly announced project from Sasha Ivanov and the Waves team called VOSTOK has lead to a huge outrage by some of the waves community members.
while I do understand some confusion and anger when a project is evolving or changing, a lot of information got distorted and major aspects got ignored, or where missed.
I’m going to highlight here, why I think Vostok is ultimately a good thing for the waves project and also its holders/supporters.
the crypto sphere is a wild and unorganized field, we have scams and vaporware besides groundbreaking technology and genius whitepapers.
whats missing at the moment is transparency, experience and a rating system that gives a direction to the true value behind projects.
since most blockchain projects are in a very theoretical status, and we simply lack the experience to truly rate and value these inventions, it will take some more time to bring clarity to the masses.
But this makes this space also very interesting for myself and investors, being able to spot the real value in all this confusion gives you an edge to make excellent investments.
one of the major misunderstandings is the difference between centralized, private and decentralized open blockchains. The word decentral is one of the most misused words around.
The truth is while I am all for an open free and decentral society, both aspects got benefits and disadvantages, anyone ignoring or denying this is either uninformed or lying.
The most publicly known factor and it is becoming quite a hype nowadays is speed. Since bitcoin is sending with 3–6 TPS (transactions per second) everyone knows about its scaling issues, slow and expensive transactions regularly cloque the network making it slow and inefficient.
With recent ICOs we see a sheer race to who can offer the most TPS, with a lot of projects claiming truly fantasylike sounding speed promises without any real data to back this up.
The truth is it is just impossible to reach unlimited TPS with a decentral wide network with a lot of Nodes.
ARK one of the most solid and tech-wise leading projects gave their statement to this dangerous hype a while ago.
The Waves team, of course, agrees with this stand, that’s why they build a private chain solution for institutional and private needs.
While decentralization is an important trend and won’t stop and of course also will evolve more and more, it’s important, to be honest about its limitations.
Speed is not the only aspect tough, some companies and government functions cannot operate on public chains, not everything should and can be open to the public.
this is just a fact, and it’s better to communicate this truth than claiming to be decentralized while actually being a centralized private chain (ripple).
So what Sasha Ivanov did, was the only thing any reasonable person can do, he builds a side project. covering ground that waves with its open chain cannot cover.
If I invest in an open decentral blockchain called Waves I don’t want it to be a private government or business solution, so with separating the step here, we can have the best of both worlds.
Don’t fool yourself, we are in disruptive times, AI will pretty much threaten anything, E cars threaten the oil business, Blockchain threatens the whole financial and institutional sector.
so it’s not gonna be an easy transition, and while we as private persons can have the luxury to be rebels and fight the establishment, crypto projects cannot.
and even WE the investors, are more concerned with that the SEC is going to say or do, than most projects.
so let’s stop pretending we don’t care.
Waves is one of the projects that’s trying to be a bridge between both worlds, I always knew that, and if you were listening to Sasha it was never a secret.
Ok, still there are some people who agree with all this but are simply disappointed by the lack of benefits for Waves holders.
let’s go into detail on this aspect:
First off this is a very exclusive ICO, only 47% of the tokens will be sold, and for the main part 30% of it you have to invest 500.000$ which is a lot.
Again a lot of people complained about this, but I appreciate the honesty, I can tell you every icon you invest 500k you will get a bonus. and for the risk you take for investing so big I think its earned.
so what about the rest?
10% are only buyable through waves, means A LOT of big investors will have to buy waves. this will lead to a lot of new people looking into waves and eventually finding all its benefits.
3% are AIRDROPPED to Waves holders! this is insane!
Vostok will, I have no doubt be an insanely successful project, and waves holders will get 3% of them for free, without investing anything.
I think this is a fair deal. Also if you know how business works, its all about connections and the amount of high-value contacts Vostok will generate for the waves project will be massive.
Another misunderstanding was concerning the funding, I always have to laugh when I see some FUD concerning waves and funding.
it just shows the loudest fudders don’t even research their targets, or even willingly ignore facts.
waves is one of the best-funded projects with 20k BTC in funding (this excludes their own Waves, and BCH stacks). Sasha Ivanov made it clear that Vostok will never USE any waves funding, that’s why a new ICO was made.
Where all this will lead exactly, no one can know, heck we cannot even tell where the whole crypto market will go. but I am sure there will be very interesting partnerships, cooperations and use cases building for Vostok and waves.
The crypto market eventually will reach multiple trillions, now is the time where solid future projects separate from the momentary hyped.
I am certain waves and Vostok will be among the future leading ones.
As investor and Crypto trader I can only suggest to make up your own mind, do your research look into the projects and don’t get fooled by easy answers of threatened by FUD