- Waves Project has announced the launch of the long awaited Vostok mainnet
- Several prominent Russian companies, including Rostec and Sberbank are set to use the platform
The Waves project this week announced the long-awaited launch of the Vostok mainnet. The network, which was announced a year ago, is aiming to provide enterprise-grade blockchain solutions to big companies. This should allow large businesses to incorporate blockchain and make it a part of their strategy without the need to invest funds in developing their own solution.
Introduction to Vostok
Vostok is a private blockchain platform that is a part of the Waves ecosystem. The reason why it was created in the first place is growing demand for distributed ledger solutions from businesses. The main goal of the mainnet is to provide a blockchain-based solution for large companies that are not interested in building their own blockchain infrastructure for different reasons, but who do want to repeat the benefits of blockchain.
Vostok’s flexibility means there are different ways the platform can be used by corporate partners:
- Integration into public infrastructure – in order to use this option, the individual or a company will need to get a permission to use mainnet from the administrator
- Building an independent blockchain infrastructure – any partner that uses this option will be able to create an independent private network with help from the Vostok integrator. No VST tokens are required to operating such a network, but infrastructure costs still apply
- Creating a hybrid ecosystem – thanks to the connection to the Vostok private network, this option is more reliable than running an independent chain
Key Vostok ecosystem components
- VST – token that allows every its holder to conduct transactions, write data to the blockchain and launch smart contracts on the blockchain. It is yet another kind of specialized token on Waves platform
- Vostok Client – Waves describes it as an “enterprise-ready solution, that enables issuance, transfer and leasing of tokens, publishing and requesting contracts and working with contract drafts, as well as managing other users’ permissions”. It has to be noted that in order to make most operations, user must register using Vostok Client and obtain permission from the network administrator. The permission can be requested here
Creating important partnerships
Several large Russian companies have already expressed interest in using Vostok. Among the Waves Platform partners that plan to use the private blockchain are Rostec, Sberbank, Transmash Holding and Vneshekonombank.
A number of major projects have already been made in partnership with different organizations, such as DOM.RF and the Nizhny Novgorod government using Vostok. The list of organizations and companies using Vostok is expected to grow further down the line.