What is Waves (WAVES)?

Jul 13, 2018 at 16:58

Coin overview

Waves is a digital blockchain platform that lets users create their own blockchain-based crypto tokens. The platform lets you manage all your digital assets while providing the tools you need for crowdfunding, loyalty programs, crypto wallet, exchange, voting and more.

The Waves token (WAVES) is the official token of the Waves platform. Users need to acquire WAVES tokens to gain access to all the features of the Waves platform. Waves first hit the news in 2016 as the 7th most successful crowdfunding campaign for a token to date. Its current value at the time of writing is at ฿ 0.00044714.

The Waves platform lets users create their own tokens and launch their own crowdfunding campaigns with just a click of a button. Users can also turn their fiat currencies into fiat tokens for easier trading and transfer onto the blockchain. The tokens created can also be used for other purposes such as loyalty programs, rewards programs and providing voting rights. A total of 16,228 tokens have been released on Waves to date, with a total market capitalization of $1 billion.

Waves also features a Decentralized Exchange (DEX) where users can trade securely, with all transactions happening on the blockchain. It also features low commission fees – the fee is set at a flat rate of 0.0003 WAVES per order no matter how big the order is. Waves DEX uses matchers over an encrypted channel when processing orders, protecting the traders until the moment of execution.

All cryptocurrencies are stored in their native crypto wallet, which serves more as an all-access platform to the entire Waves ecosystem. The wallet lets users earn interest on their WAVES tokens, allows transfer of funds, lets users create multiple currency wallets, and provides the mining platform.

Waves is based in Moscow and is led by CEO and founder Sasha Ivanov. It is the result of a partnership with Deloitte aiming to establish a legal framework for the adoption of blockchain technologies.

 

Where to buy?
WAVES tokens are traded on Tidex and Bittrex.

Is it mineable?
WAVES uses a proof-of-stake algorithm which rewards miners based on the WAVES tokens they currently possess. By installing your own node and supporting the WAVES network and improving the network security, you can earn up to 5% per year on your WAVES balance. Miners are rewarded with the bonus token, Miners Reward Token (MRT) for every block processed. The token can then be traded in Waves’ decentralized exchange.

WAVES has a current circulating supply of 100,000,000 tokens.