Development never stops in the blockchain sector and projects that continuously evolve are the ones that stay at the forefront and survive over the long-term.

One project attempting to stay on top of the innovation wave is Waves, a multi-purpose blockchain protocol designed to support a variety of use cases, including decentralized applications and smart contracts.

Data from Cointelegraph Markets Pro and TradingView shows that the price of WAVES has rallied 120% since forming a double bottom at $8.28 on Feb. 22.

Three reasons for the price growth for WAVES include the recent announcement that the protocol will migrate to Waves 2.0, a partnership with Allbridge that will connect Waves with other popular blockchain networks and the upcoming launch of a $150 million fund aimed at fostering Waves' growth in the United States.

The biggest development sparking momentum for WAVES has been the announcement that the protocol has begun the process of migrating to Waves 2.0.

✔️ Protocol updates: the new version of Waves will be based on Practical Proof-of-Stake Sharding (PPOSS) Consensus and support Ethereum Virtual Machine (EVM). Smooth transition is guaranteed! We're now in transition to Waves 2.0 with a multi nuclei structure

Part of this transition includes the implementation of a new version of Waves consensus that will be based on practical proof-of-stake sharding (PPOSS), an upgrade that will help make the network faster, more secure and Ethereum Virtual Machine (EVM) compatible.

Development of the EVM-compatible network is scheduled to start this coming spring and will be connected to the existing network as a way to provide a “smoother transition to Waves 2.0 without depreciating the old network’s value or efficacy.”

Waves