Alto.io Expands Platform to support Waves Blockchain with Key Partnership
The addition of the Waves protocol will improve the efficiency of transactions on the Alto platform
Singapore, August 22, 2018 — Today, Alto.io announced that they will add support for the Waves platform. Through this partnership, developers on the Alto platform will be able to use the Waves blockchain to tokenize assets inside their games, leading to faster transactions and lower transaction costs.
Waves is a public blockchain whose upgraded protocol, Waves-NG, promises to accelerate transactions and make blockchain a much more attractive alternative for businesses and applications that require high transaction rates. For Alto, whose vision of a vibrant gaming economy based on the trading and selling of items is predicated on an efficient microtransaction system, this partnership is a match made in heaven.
“We are pleased to announce that Waves will be added as a supported blockchain protocol for the suite of tools of our blockchain game platform. Fast transaction speeds as well as low costs/fees of both token creation and transactions make Waves an excellent choice for games on the blockchain. We’re delighted to work together and introduce Waves to the community of cryptogame developers around the world to foster its adoption,” said Gabby Dizon, co-founder and Chairman of Alto.io.
Waves, for its part, aims to expand the use of blockchain beyond its current application by making it faster and more user-friendly. Since tokens on the Waves platform are part of the blockchain’s consensus they are easy to create and cheap to use — with no smart contract required for them to operate, while transfers follow the same process as every other cryptocurrency. As a result there is no gas fee for transferring tokens — eliminating additional overhead on creation and smart contract deployment.
Waves also firmly believes gaming is key to the adoption of blockchain technology by more traditional industries. With speeds of over 100 transactions per second and costs as low as 0.5 cent per transaction, Waves is a vast improvement upon Ethereum — making it an ideal protocol for blockchain games.
“The gaming industry is one of the most immediate use cases for blockchain technology, specifically tokenization. Game developers need a platform that will enable them to link in-game items to blockchain tokens so that they can be seamlessly integrated into different games, transferred and traded without friction. Waves is proud to be able to provide precisely that functionality to Alto, and looks forward to the fruits of this partnership!”, said Sasha Ivanov, founder and CEO of Waves Platform.
The Alto platform is built on the Ethereum blockchain and will continue to support it while it adds Waves as an additional blockchain protocol. Alto will provide game developers with the tools and documentation so they can easily tokenize their items using the Waves blockchain. Developers will be able to create Waves tokens using its cryptoitem creator, the Alto Forge. These tokens will then be supported by Alto’s upcoming mobile wallet, the Alto Backpack.
Alto and Waves are both committed to the development of blockchain technologies that push the limits of what is currently possible. This partnership provides an extraordinary opportunity to do so by increasing the potential of blockchain gaming as both a sustainable business model and a gateway to mainstream blockchain adoption.
Alto.io is creating a decentralized platform with a suite of tools for game developers, item creators and players, built around the blockchain’s item-first economy. Through the Alto platform, interoperable cryptoitems (blockchain-based game items) will be minted, used, and sold across multiple games and users. We are setting out to enable a self-sustaining ecosystem built around the blockchain’s item-first economy that is fair and mutually beneficial for everyone.
Waves is a decentralised platform with loads of real world solutions running on the blockchain. Waves was founded in 2016 by Sasha Ivanov, and its team of over 70 employees are working hard to provide new and secure solutions for people to start businesses on the blockchain.
Among the key functionalities of the Waves Platform are fast and secure decentralised exchange (DEX), user-friendly smart contracts, which cover almost every common use case there is, and a capability to issue a token in less than 60 seconds. Much of the platform’s functionality is easily accessible through the Waves client, available in desktop, mobile and standalone versions.
Since its launch Waves is working to fulfill its vision of creating a truly unique blockchain product that will be an industry standard in providing the most versatile and straightforward tokenization tools for everyday use.