Waves Enterprise tests the election platformJudy Rubio
The innovative platform named Waves implements digital ledger to turn stockholder elections more transparent. Large companies are allegedly already considering this type of voting.
Voting election platform, which Waves Enterprise has started, is a digital ledger-based e- election platform, which connects corporate customers, for communal beta trials.
In line with an official statement issued on 28 May, the novel facility intends to "take advantage of all the benefits of digital-ledger- related technology whereas preserving conventional election regulations and procedures."
Manufacturing Director at Waves Enterprise, Artem Kalikhov, in an interview to Cointelegraph, said that merely a solution that is decentralized, will secure transparency, and records safety in virtual balloting:
"The digital ledger arranges a reliable setting for information interchange amid autonomous encryption servers which function as contributors in the polling Protocol. Cryptographic algorithms keep election results safe. Digital ledger tools do not permit voice tampering or theft."
It is reported that the balloting digital ledger design is grounded on PoA as well as PoA matching algorithms that are said to allow processing "up to 1000 applications per single second.”
Kalikhov claimed that the automated polling platform is applicable for businesses and corporations that run through stakeholder elections and prefer private internal polling amid personnel. As said by him, balloting is not restricted to an explicit industry and may serve IT giants, banks, oil and gas organizations, industrial firms, as well as medical institutions.
He added that,
"I may say that a Russian enterprise based on oil & gas wishes to use such a virtual balloting service for its in-house necessities.”
The establishment will stay unrestricted for the period of open beta trials, and they are expected to continue up to a couple of months. The price of a full-featured solution will be different for every single client and will consider the number of nodes in the digital ledger system, and how many encryption servers there are, including additional factors.
Sanctioned by Russia’s authorities
Earlier in April, the Communications Ministry in Russia listed Waves Enterprise in the incorporated register of Russia-centered software for databanks and mainframes.
To point out, representatives of Waves Enterprise clarified back then, to perform the cut, the establishment had to verify that their digital program did not comprise any copyrighted modules which were industrialized or owned by remote companies, did not cover secrets of the trade; moreover, belonged to a Russian firm.
Waves Enterprise and its blockchain layer
Waves Enterprise is a hybrid blockchain that combines the advantages of private and exclusive digital ledger technologies. Depending on the customer's requirements, the solution can be deployed in an exclusive or private network. A hybrid model may be used to ensure increased storage reliability and data privacy.
Platform’s blockchain layer contains the main mechanisms that guarantee the uniformity and immutability of distributed registry data. The data received by the knives from each other is pre-checked. Then, depending on the current role of the node (whether it is a block generator), it either forms a block from the received data, signing it using the cryptographic module and its keys, or adds the verified data to the state. The current role of a node is determined using a consensus algorithm. There are two push-pool interfaces available for external access to the blockchain (RPC and Rest API).
Plans for further development
The development of smart contracts is one of the priority tasks for the Waves Enterprise team, and their speed increases with each release. There are several solutions currently in the R&D and prototyping stages that will multiply network bandwidth in this scenario.
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