The Waves Platform combines a decentralized cryptocurrency exchange (DEX) with the ability to create and launch your own cryptocurrency. As of its crowdfunding campaign in 2016, the Waves Platform was the seventh-most successful campaign, raising about 30,000 BTC. Waves remains an open blockchain platform that allows users to store, trade, manage, and issue their digital assets in a simple and secure manner. Additionally, investors can use the platform to create a wallet with multiple currencies and invest in crypto assets that have been verified.

Waves Platform

Who Created the Waves Platform?

The Waves Platform is a global platform on the public blockchain and was founded in 2016. The mission of the platform is to rethink worldwide entrepreneurship with a shared infrastructure that has functional and easy-to-use tools that let anyone use the blockchain. The founder and CEO is Sasha Ivanov, and Maxim Pertsovskiy is the COO. Mariya Borovikova is the CFO, and the head of communications is Natalya Malyova.

Waves Team

Who Does the Waves Platform Help?

The Waves Platform is useful for nearly everyone. Developers will appreciate the high network throughput capacity, the low transaction fees, and the low latency. Traders will like the ability to store their assets securely in the platform’s local lite client, yet still trade them safely and fast on the platform’s decentralized exchange. Finally, organizations can use it to issue their own blockchain token and boost their business via loyalty programs, voting, crowdfunding, or anything else.

What Features of the Waves Platform Appeal to Developers?

To go into more detail, the Waves Platform appeals to developers on multiple levels, including via the developer-friendly, open-source API. The new PoS consensus algorithm allows for a dramatic increase in network bandwidth, which allows for hundreds of transactions every second. Developers will also appreciate the low-level support for a range of transactions. Because all transactions take place natively, there is no need to rely on smart contracts to lease or release tokens. Of course, developers will also appreciate the ability to be directly involved with the Waves Platform by using the TestNet cluster to explore features.

Waves Developers

What Can You Do with the Waves Client?

The Waves Client works in your browser and is intuitive to use. It combines a wallet, tool for releasing tokens, and decentralized exchange. The wallet portion stores your funds in a private blockchain address controlled only by you. Users get to take advantage of the wallet’s security, store multiple currencies, transfer funds between people, mine, and receive interest on their account balance. The wallet supports not only multiple currencies but also multiple types of currencies. You can store fiat and cryptocurrencies, with the list of supported currencies expanding constantly. The wallet can be in the browser or on an application for Android and Apple devices.

Waves Client

The Waves DEX

The decentralized exchange within the Waves Client offers some of the best features you will find on any other similar DEX. You will not notice any limits on the withdrawals. In addition, when you buy cryptocurrency, it immediately shows up in your wallet. Trades are not only quick but also safe thanks to the high channel capacity and centralized matcher. Your assets are safe in your wallet, not on the exchange. Using the Waves DEX also saves you money since there is only a small fixed commission per order.

Waves DEX

Create Your own Token

The unique part of the Waves Client is the ability to issue your own tokens. The possible uses for this are endless, with some organizations using tokens for a voting system, to set up a loyalty or discount problem, or for crowdfunding. So far, users have released 9,921 tokens on Waves, with a total market capitalization of over $1 billion. As such, users should have no doubt in the Waves Platform’s ability to provide the tools needed to create and deploy a token.

Create Your Own Token

How Do You Lease WAVES?

Waves relies on a proof-of-stake algorithm instead of a proof-of-work one. This means that you do not need expensive hardware, hours on end, or specialist work to mine WAVES. Instead, the WAVES you own can be leased to help secure the network. If you own more WAVES, you have a higher chance of processing the following block, which would lead to a reward in the form of a transaction fee. Those unfamiliar with blockchain technology find it easiest to compare this to earning interest on your WAVES balance. By setting up and running a node, you can earn as much as 5 percent of your balance per year. The nice thing about leasing Waves is the tokens remain in your wallet at all times and you can cancel outgoing leasing when you like if you wish to move them or sell them.

Waves Leasing

Miners also get a Miners Reward Token, MRT, with each block they create. This is a Waves token that you can trade on the platform’s decentralized exchange. To mine, you need a hosted server and a minimum of 1,000 WAVES. Alternatively, you can opt for a public mining pool and lease funds from users to increase your profits. It is possible to lease any amount greater than or equal to 0.002 WAVES. When you lease WAVES, they remain in your wallet, and you can access them whenever you want.

What Features Will Waves Platform Add?

By the spring of 2018, the Waves Platform hopes to add non-Turing smart contracts, decentralized voting, simple messaging, and hardware wallets. It will also update the mobile applications. During spring and summer, the team will work on front-end voting and atomic swap. In summer and fall, they will add messaging on the front-end off the chain. The roadmap for fall to winter shows Turing-complete smart contracts and the lite client.

Waves Roadmap

Conclusion

Although there are many other decentralized cryptocurrency exchanges, the Waves Platform stands out for its ability to combine this with other features. Most notable is the ability of users to utilize the platform to create their own token and make it possible to trade it. This is particularly helpful for those who want to take advantage of tokens and blockchain technology to further their companies or crowdfund an idea, but do not have the technical background to launch a token.

Waves have ambitious plans to build a complete blockchain business, allowing people to purchase cryptocurrencies with Fiat money, create their own tokens, trade cryptocurrencies, run ICOs and soon to have smart contracts they are one of the most interesting projects to watch out for.

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Posted by Oliver Dale

Editor-in-Chief of Parameter and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all.


oliver@parameter.io
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