There is currently a vote on which ERC20 tokens should be listed on the DEX, voting.wavesplatform.com
But my question is: what's the point of the vote? If they want to start listing ERC20 tokens, then just list them all. It's not like it's really more work for them.
If the point is just to show how blockchain voting can work, as a proof of concept, then they have also failed on this point. Let me explain...
Just like the DEX, they try to pass it off as decentralized while in reality, it is centralized. As we have seen with the recent DNS hijacking, the dex is controlled by a single server. Yes, there is the capability for people to run their own DEX if they want, but the current DEX that all the clients use is just one server, just one Matcher that gets all the trading fees. NOT decentralized.
The voting is similar. They have you verify your account through client.wavesplatform.com. Okay, nothing wrong with that, let's give them the benefit of the doubt and just trust that they're not saving your private keys. They use this to verify your Waves address and record your vote. When voting closes, they tally up the number of WCT that each account has, to use as their voting power, and the token with the most WCT voted for it wins.
The problem here, if you didn't realize, is that the votes themselves are not recorded on a blockchain. What's to stop them from saying that an account with alot of WCT voted for something when really they didn't? Yep, it's centralized - they can completely control the results of the vote.
Hello. There will be a payment gateway for ERC20 tokens as a temporary decision before atomic swaps. Obviously there are difficulties with implementing a new payment gateway because Waves Platform has only the following gateways: Bitcoin, Ethereum, Litecoin, Zcach, Bitcoin Cash, Dash and Monero. That's why it's not very easy to add all Ethereum-based tokens via payment gateways. But my question is: what's the point of the vote? If they want to start listing ERC20 tokens, then just list them all. It's not like it's really more work for them.
If the point is just to show how blockchain voting can work, as a proof of concept, then they have also failed on this point. Let me explain...
Just like the DEX, they try to pass it off as decentralized while in reality, it is centralized. As we have seen with the recent DNS hijacking, the dex is controlled by a single server. Yes, there is the capability for people to run their own DEX if they want, but the current DEX that all the clients use is just one server, just one Matcher that gets all the trading fees. NOT decentralized.
The voting is similar. They have you verify your account through client.wavesplatform.com. Okay, nothing wrong with that, let's give them the benefit of the doubt and just trust that they're not saving your private keys. They use this to verify your Waves address and record your vote. When voting closes, they tally up the number of WCT that each account has, to use as their voting power, and the token with the most WCT voted for it wins.
The problem here, if you didn't realize, is that the votes themselves are not recorded on a blockchain. What's to stop them from saying that an account with alot of WCT voted for something when really they didn't? Yep, it's centralized - they can completely control the results of the vote.
Speaking about voting, it's impossible to be included in the list of voters without taking part in voting because anyone can check the list of wallets there. There's no point in this.
Best wishes,
Waves Community Manager
Sasha has definitely sold some of his coins already - or do you think he's willing to lose everything, like us plebs?
<-- one such investor - he's so out of it, he thinks he's female!
