Ever heard of Kickstarter? Russian physicist and entrepreneur Alexander Ivanov sure did, and in 2016 launched a blockchain analogue of the crowdfunding platform. Perhaps one of the reasons for its success (and just an indisputably cool feature) is the ability to issue your own token within 60 seconds and use it in your own crowdfunding campaign. The project quickly raised $16 million, becoming one of the most successful crowdfunds.
Apart from being, as mentioned before, a blockchain-based crowdfunding platform, it can also be used to create custom tokens, decentralized applications (DApps) and just mediate transactions.
Waves launched the world's first and currently fastest decentralized exchange, DEX. It can be used to trade any pair of tokens directly without utilizing intermediate currencies. The transaction is approved within a split second. Trading on DEX is considered to be safer than centralized exchanges due to the fact that t is powered by the matcher nodes: there is no need to withdraw funds from your wallet. The seller is connected to the buyer for a certain commission, and the transaction is fixed in the Waves blockchain. This lowers the risk of getting hacked.
When a transaction (for example transfer of funds or implementation of a smart contract) is initiated within Waves, it is picked by nodes with the highest stakes. Once the transaction is confirmed, new blocks are added directly to the Waves blockchain without passing through centralized organizations e.g. banks.
Waves Coin is the platform's internal token used for all kinds of operations: transfer, withdrawal and trading of assets. The transaction fee for moving Waves is only 0.001 Waves.
- Has an inbuilt Decentralized Exchange (DEX)
- Enables creation of Custom Applicable Tokens (CATs)
- The language used within Waves platform is Scala
- Utilizes Leased Proof-of-stake (LPoS) consensus mechanism, a variation of the classical PoS. The difference is being released on MainNet, which implies the ability of users to transfer their technical capabilities for mining thus securing the network and getting rewarded for that. For security reasons, public keys are used for encryption.
- Peer-to-peer transaction mechanisms to exclude intermediaries
- The Waves client can be downloaded simply from Chrome Web Store
- The Waves Community Token is attributed monthly to all Waves Coin holders. Its aim is to encourage the nodes to hold native tokens for a longer period of time.
- The Miners Reward Tokens are distributed for every new block created within the network. It is a reward system aiming to keep up the miners' work.
You can buy WAVES via major exchanges such as Binance or Bittrex, trading it for other cryptocurrencies like Bitcoin and Ethereum or fiat money. However, it is frequently paired with other cryptocurrencies, so using fiat money for WAVES purchase can be tricky sometimes.
When Waves first started trading, its price was slightly above $1; it experienced an all-time high of $16 in December 2017. The current price of Waves fluctuates around $2. The daily trading volume is $20,961,719. The supply of Waves is limited to $100 000 000 tokens. The architecture and concept of Waves are universally acknowledged, which might be a promising sign for its growth. Even though Waves is not a conventional universal currency, it can always be traded on DEX for any other currency. Furthermore, Waves has recently established agreements with some major organizations such as Microsoft, the Moscow Stock Exchange and Russian Gazprombank to use Waves Coin as a payment method.
Waves Wallet - Atomic Wallet
Atomic Wallet will store your Waves, as well as over 300 other digital assets, in a safe, secure and decentralized way. You can buy crypto with a credit card right in Atomic Wallet and exchange all of your cryptocurrency assets with built-in exchange service. Atomic is a non-custodial wallet, all private data are stored in an encrypted manner on the end-user device, so your money is totally under your control.