The founder of Waves sold his stake in the blockchain project Vostok

Alexander Ivanov, the founder of Waves, sold his entire stake in the corporate blockchain project Vostok to GHP Group, which became its sole owner. A press release was issued this Tuesday.

Ivanov said his decision was driven by a desire to focus on working with Waves.

"The development paths of Vostok and Waves are increasingly diverging. For me, the main priority has been and remains the international development of the Waves platform with the aim of creating the next generation of smart decentralized services on blockchain," Ivanov said. - Accordingly, I decided to sell the Vostok project and focus on developing the Web3 ecosystem, including large business projects.

Mark Garber, Chairman of the Board of Directors of GHP Group and one of the early investors of Vostok, said that the existing developments of Vostok will allow his company's projects to reach a new level of technological development. He also promised that the group would continue the development of Vostok, as well as maintain a team of managers and developers.

Vostok was launched in April 2018 to develop solutions based on advanced technologies, such as artificial intelligence and blockchain, for the corporate and public sectors. At the end of last year, Waves raised $120 million to develop the project. Over the past year, Vostok has become a partner of such organizations as Sberbank, Transmashholding, VEB.RF and Rostec.

At the end of June, Waves announced the release of a Node 1.0 update with RIDE language support for its main network.