Waves

price
change

Discover Waves's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Waves?

Waves (WAVES) is a blockchain-based network that allows users to create custom crypto tokens (smart assets) without extensive programming knowledge. It uses a modified Proof-of-Stake consensus protocol called Leased Proof-of-Stake (LPoS) and features a decentralized exchange, wallet, and smart contract capabilities. The network is designed for fast transaction speeds, low fees, and high scalability, making it suitable for various applications, including decentralized finance (DeFi) products.

How is Waves used?

The Waves (WAVES) token is the native cryptocurrency of the Waves ecosystem and serves several purposes within the platform. Here are some key ways WAVES is used:

  1. Transaction Fees: WAVES is used to pay for transaction fees on the Waves blockchain. The fees are relatively low, with a standard fee of 0.001 WAVES for trading regular cryptocurrencies and 0.005 WAVES for trading custom tokens.

  2. Token Creation: To create a custom token on the Waves platform, users need to pay a fee of 1 WAVES token. This token can then be traded on the Waves decentralized exchange (DEX).

  3. Staking and Validation: WAVES holders can participate in the validation process by leasing their tokens to full nodes. This allows them to earn passive income without any lock-up period. The leased tokens are used to secure the network and validate transactions.

  1. Governance: WAVES token holders have governance rights over the Waves DEX and, to some extent, the Waves blockchain itself. This means they can influence decision-making processes within the ecosystem.

  2. Collateral: WAVES tokens can be used as collateral for issuing custom tokens. This ensures that the custom tokens are backed by a stable asset, enhancing their credibility and usability.

  3. Trading: WAVES can be traded on various exchanges, allowing users to buy and sell the token as part of their investment strategies.

Overall, the WAVES token is central to the functioning of the Waves ecosystem, facilitating transactions, token creation, staking, governance, and collateralization.

How do I store Waves?

To store Waves (WAVES) tokens, you can use a variety of wallets that support the Waves blockchain. Here are some options:

  1. Official Wallets:

    • Waves.Exchange: This is a decentralized crypto exchange with its own wallet that supports WAVES and other cryptocurrencies. It offers low fees, fast trading tools, staking options, and NFT support.
    • Waves FX: This is an official desktop client compatible with Windows, macOS, and Linux. It is open-source and provides a high level of security for your funds.
  2. Third-Party Wallets:

    • Guarda Wallet: This wallet supports WAVES and allows you to manage your tokens on any device. It is known for its security features and ease of use.
    • Trust Wallet: This is a multicurrency wallet that supports WAVES and other digital assets. It is available for both iOS and Android devices and is known for its simplicity and ease of use.
    • Exodus: This is another multicurrency digital wallet that allows you to store WAVES and other cryptocurrencies. It provides an advanced yet user-friendly interface and supports over 80 digital assets.
    • Ledger: Ledger offers hardware wallets like Ledger Nano S and Ledger Nano X, which can store WAVES and other cryptocurrencies securely.
  3. Additional Options:

  • Enno Wallet: This is a cryptocurrency wallet and decentralized finance gateway built for mobile devices. It provides an intuitive interface and supports WAVES.
  • Muna Wallet: This wallet also supports WAVES and offers a range of features for managing your tokens.

When choosing a wallet, consider factors such as security, ease of use, and compatibility with your devices. Always ensure that you use official or well-established wallets to prevent the loss of your tokens.

How to buy Waves?

To buy Waves (WAVES) tokens, follow these steps:

  1. Choose a Cryptocurrency Exchange: Select a reputable exchange that offers WAVES trading. Some popular options include Kraken, KuCoin, Gate.io, and Binance. Ensure the exchange is available in your region and compliant with local regulations.

  2. Create an Account: Sign up for a free account on the chosen exchange. This typically involves providing an email address and verifying your identity.

  3. Secure Your Account: Set up two-factor authentication and other security measures to protect your account.

  1. Deposit Funds: Add a payment method such as a debit card, credit card, or wire transfer. You can also use Bitcoin or other cryptocurrencies to fund your account.

  2. Buy WAVES: Use your deposited funds to purchase WAVES tokens. You can do this through the exchange's spot market or other available trading options.

  3. Store Your WAVES: You can store your WAVES tokens in the exchange's wallet or transfer them to a non-custodial wallet like Trust Wallet or Ledger for added security.

Remember to always follow the specific instructions provided by the exchange you choose, as the exact steps may vary slightly.

Discover
Waves
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Waves

The history of Waves (WAVES) began in 2016 when Russian physicist Alexander Ivanov founded the Waves platform. The initial coin offering (ICO) for WAVES took place in April 2016, and the blockchain officially launched in November 2016. The Waves platform uses the Proof of Stake (PoS) consensus algorithm, which allows for the creation of custom tokens and decentralized applications (DApps) on the network.

Waves was designed to provide a user-friendly interface for developers to build DApps and issue custom tokens. The platform focuses on usability and speed, aiming to process transactions faster and cheaper than networks like Ethereum. The WAVES token serves as the native cryptocurrency of the Waves ecosystem and is used for transactions and as collateral for custom tokens.

Since its launch, Waves has continued to evolve, with a focus on increasing the rate of fiat transfer and crowdfunding on blockchain networks. The platform has also expanded to include a decentralized exchange (DEX) where users can trade digital assets and tokens. Waves has gained popularity due to its simplicity and high transaction speeds, making it an attractive option for users looking to create and manage digital assets.

Discover
Waves
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Waves works

Waves is a blockchain platform designed for token generation and decentralized applications (dApps). It employs the Leased Proof-of-Stake (LPoS) consensus mechanism, which is an improved version of the traditional Proof-of-Stake (PoS) mechanism. This allows for faster transaction processing and reduced energy usage compared to traditional blockchain networks.

LPoS Consensus Mechanism

In the LPoS system, there are two types of nodes: full nodes and lightweight nodes. Full nodes maintain a complete record of transactions, while lightweight nodes rely on full nodes for payment verification and network interactions. Nodes can lease their tokens to full nodes, which gives them a share of the rewards without moving the tokens to a different wallet. This leasing mechanism allows full nodes to boost their chances of adding blocks to the blockchain.

Waves-NG Protocol

The Waves-NG protocol is used to select which node earns the right to generate the next block. It divides the blockchain into key blocks and microblocks. A randomly chosen PoS miner creates the key blocks, and other nodes use a public key in this block to create microblocks containing transactions. This protocol is a variation of a concept initially suggested but rejected for Bitcoin.

Smart Assets

Waves allows users to create tokens with custom scripts written in Ride, the network’s native programming language. This feature enables users to create tokens without extensive technical knowledge. Adding a script to a token costs 0.004 WAVES tokens.

Architecture

The Waves platform has a decentralized blockchain architecture, consisting of a core protocol, a client interface, and a decentralized exchange (DEX) that facilitates peer-to-peer trading. It also includes a mobile wallet for managing digital assets. The DEX uses the Matcher algorithm to facilitate fast and reliable transactions.

Token Creation

Waves allows users to create custom tokens quickly and easily. The token creation feature is one of the platform’s most popular elements, and it only costs one Wave to create a token. After creation, the token is automatically listed on the Waves DEX and can be traded against various trading pairs.

Decentralized Exchange

The Waves DEX is one of the few decentralized exchanges that offer multiple fiat-to-crypto gateways. Users can exchange USD, EUR, CNY, and other fiat currencies for various cryptocurrencies, and all tokens created on Waves are automatically listed on the DEX.

Wallet

The Waves wallet is a Google Chrome Extension that allows users to create, transfer, and trade their digital assets. The wallet has the Waves DEX built into it, enabling users to exchange and trade cryptocurrency and fiat directly from their desktop or mobile device.

WAVES Token

The WAVES token is the native cryptocurrency of the Waves ecosystem and is used as a means of payment for transactions on the blockchain and as collateral for issuing custom tokens. Holders of WAVES tokens can participate in the transaction validation process and are rewarded with WAVES tokens as an incentive to help maintain the security and integrity of the network.

Ride Programming Language

Ride is a non-Turing complete language developed by Waves to reduce potential errors that can lead to serious faults. It is designed to develop smart contracts and allows developers to seamlessly interoperate with other blockchain-based applications leveraging the Integrated Development Environment (IDE).

Interoperability

Waves facilitates interoperability by linking different blockchain networks, enabling the creation of a new ecosystem of crypto, NFTs, and DAOs. It offers its services at extremely affordable costs and maintains a minimal carbon footprint.

Overall, Waves is a user-friendly platform that simplifies the process of creating and managing digital assets and tokens, making it an attractive option for developers and users alike.

Discover
Waves
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Waves's strengths

The Waves (WAVES) token has several strengths that contribute to its appeal and functionality within the Waves ecosystem. Here are some of the key strengths:

  1. User-Friendly Interface: Waves provides a user-friendly interface for building custom crypto tokens, making it accessible to users without extensive knowledge of blockchain development.

  2. Low Transaction Fees: Waves is known for its low transaction fees compared to other platforms, which makes it an attractive option for users.

  3. Fast Transactions: The Waves protocol can process 100 transactions per second, making it suitable for DeFi applications with a large user base and low-volume operations.

  1. Staking and Passive Income: WAVES token holders can stake their tokens to earn rewards, providing a steady source of passive income.

  2. Developer-Friendly Environment: Waves offers a variety of tools and components that facilitate the development and management of decentralized applications, contributing to the growth of the crypto ecosystem.

  3. Interoperability: Waves enables interoperability by linking diverse ecosystems, allowing users to access real-world data without a centralized authority.

  1. Minimal Environmental Impact: The protocol is designed to minimize environmental costs, which translates to lower costs for users.

  2. Decentralized Exchange: Waves has a decentralized exchange that supports peer-to-peer trading, adding to its overall functionality.

These strengths make Waves an attractive option for users, developers, and organizations looking to leverage blockchain technology for various applications.

Waves's risks

Waves (WAVES), a cryptocurrency project, faces various financial risks that can impact its performance and value. Here are some key risks to consider:

  1. Market Volatility: Waves, like other cryptocurrencies, is susceptible to significant price fluctuations. Market volatility can lead to rapid changes in value, making it challenging for investors to predict and manage their investments.

  2. Risk Management: Effective risk management strategies are crucial for navigating the financial markets. Waves investors must be prepared to adapt to changing market conditions, manage their exposure to risk, and diversify their portfolios to mitigate potential losses.

  3. Regulatory Risks: Cryptocurrencies are subject to evolving regulatory environments. Changes in laws, policies, or enforcement can significantly impact the value and usability of Waves, making it essential for investors to stay informed about regulatory developments.

  1. Liquidity Risks: Waves, like other cryptocurrencies, may experience liquidity issues, which can make it difficult for investors to buy or sell their holdings quickly and at a fair price. This risk is particularly significant during times of high market volatility.

  2. Security Risks: As a digital asset, Waves is vulnerable to security threats such as hacking, theft, and other forms of cybercrime. Investors must ensure they use secure wallets and follow best practices to protect their investments.

  3. Competition Risks: The cryptocurrency market is highly competitive, with numerous projects vying for market share. Waves must differentiate itself and maintain a strong competitive edge to attract and retain investors.

  1. Economic Risks: Economic downturns, inflation, and supply chain disruptions can impact the overall financial markets, including the value of Waves. Investors must be prepared to navigate these broader economic risks and adjust their strategies accordingly.

By understanding and managing these financial risks, investors in Waves can make more informed decisions and develop strategies to mitigate potential losses.

Discover
Waves
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Waves raise funds?

Discover
Waves
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Waves’s team

  • Sasha Ivanov: The founder of the Waves blockchain, a theoretical physicist who founded the Waves Platform in 2016.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Waves NEWS REPORT

Latest news

Want an analysis of Waves? Tell us on discord.

Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM