Waves is a DEX platform intended to create native digital assets and an all-encompassing blockchain protocol. Initially, Waves was perceived as a less efficient alternative to Ethereum as the project was launched 3 years later after Vitalik Buterin's one. Besides, it was developing relatively slowly, for instance, until 2018, it had no smart contracts. But currently, this decentralized project has been making up for the lost time. The Waves platform offers an exchange and licensed fiat gateways that allow users to convert crypto currency for national money. Tokenization simplicity is the major advantage of the Waves platform. The project has a self-titled token commonly indicated as WAVES which you can buy on the top exchanges
Facts About Waves
The Waves platform was launched in 2016 by a Ukrainian-born program developer Alexander Ivanov. He got inspiration from the NXT decentralized platform and decided to create his own one that would have all the advantages of such projects and improve their shortcomings. The developers of Waves had crowdfunded 30,000 Bitcoins by June 2016. At that time, this amount was equal to 16 million dollars. The money was spent on creating the WAVES token, which is now available for buying and trading, as well as further developments. The first coin issue took place on June 7, 2016. Less than one year later the company opened a decentralized exchange and enabled mining using the proof of stake algorithm. Originally the company was known as Waves Platform, but then it was renamed Waves Protocol. The development of the project was not so fast, but it can be called rather stable. At this moment, the company has nearly 200 employees.
Pros and Cons of Waves Platform
A user doesn't need to be an expert in DApps and programs or a cryptocurrency specialist to create a token.
Own exchange to convert personal tokens, digital and fiat currencies with a low commission.
The technology of the platform has been improved to a considerable degree.
An unusual method of mining WAVES: the coins are paid for leasing tokens to other users (this may bring you up to 500 tokens a year).
Fast development in recent years.
WAVES can be bought on many cryptocurrency exchanges too.
Is Waves Worth Investing?
Waves works on own blockchain, and since the first ICO 100,000,000 WAVES tokens have been in circulation. 85% of the supply became available to be bought by sale participants, 4% went to supporters and partners of the project, 9% were meant for the developers, and early supporters received 1% each. As of the end of 2020, it occupies 22nd place in the list of the most expensive crypto currencies by capitalization. The highest price ($17.48) was registered on December 19, 2017. The block reward is 6 WAVES at present. Waves is a unique product, which enables developers to create new assets on its basis. The difference between Waves and the more widespread Ethereum lies in its simplicity and convenience for end users. This makes the platform and its currency one of the most ambitious projects and a forward-looking asset to buy.