Platform developers Waves announced the launch of smart assets in your test network.

Smart Assets are on #Waves TestNet now! They will allow users to apply scripts to tokens: whenever a transaction for the Smart Asset is created, it is validated by the script before being confirmed by the #blockchain. Read more here: $WAVES

— Waves Platform (@wavesplatform) November 12, 2018

After the community will audit the new functionality that needs to prove its reliability, the solution will work in the core network Waves.

According to the developers, one of the main advantages of the platform Waves is a simple process to create a token that does not require any special skills.

“The functionality of the smart assets creates an additional level of operational capability tokens Waves, making them extremely flexible and easy to use”, — stated in the project’s blog.

Smart assets enables users to apply Waves of different scripts to tokens. These scripts will validate the transaction for smart assets before adding them to the blockchain.

A significant part of the functionality of smart assets familiar to users who had to deal with smart-accounts, which were presented earlier. However, in this case new features are applied to tokens, not to the accounts.

Scripts smart assets can be used for the following purposes:

— freezing of assets (includes lock token until you reach the block with a certain height);
— “black/white lists” that allow or prevent the sending of tokens to certain addresses;
— installation of commissions;
transactions with multipoles;
— control of trade in pairs, allowing you to exchange tokens for pre-defined assets.

The Commission for the execution of scripts is fixed at 0.004 WAVES.

Also, the developers note that the new functionality can be used in various use-cases, and be useful for both businesses and individual users.

For example, smart assets can be used in the gaming industry for tokenization of various items, which can then be used by players only when they achieve certain conditions. Also, these digital objects can be configured so that they can be exchanged only on their own game’s currency, which prevents the emergence of “black market” such assets.

Note that smart contracts in the core network Waves has been activated in September.

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