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Waves
$ 24.44
Token Name
Waves
Ticker
WAVES
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About Waves

Waves platform operates on the basis of LPoS consensus, modification of the Proof-of-stake consensus. A feature of LPoS is the ability for users to transfer their own balances to full nodes on a lease basis in exchange for a part of the profit from mining (the so-called Account leasing)

Waves platform operates on the basis of LPoS consensus, modification of the Proof-of-stake consensus. A feature of LPoS is the ability for users to transfer their own balances to full nodes on a lease basis in exchange for a part of the profit from mining (the so-called Account leasing) 

Users engaged in block generation are selected according to the balance of the Waves token. Only full nodes have the right to mine within the platform. Ordinary users can only lease their balances to them and do not participate in the mining process.

To ensure the immutability of the chain of blocks that make up the base of operations with tokens, cryptography is used similar to that used in the Bitcoin system. That is, classical public key encryption is used, and the token holder retains control over his balance until his private key is known to outsiders. Tokens can be converted to both fiat and cryptocurrencies, as well as tokens of other projects.

 

FAQ

What is Waves (WAVES)?

Waves is a multi-purpose blockchain platform which supports various use cases including decentralized applications (DApps) and smart contracts.
Launched in June 2016 following one of the cryptocurrency industry’s earliest initial coin offerings (ICO), Waves initially set out to improve on the first blockchain platforms by increasing speed, utility and user-friendliness. The platform has undergone various changes and added new spin-off features to build on its original design. Waves’ native token is WAVES, an uncapped supply token used for standard payments such as block rewards.

Who are the founders of Waves?

Waves is synonymous with its founder, Ukrainian-born scientist Alexander Ivanov (also known as Sasha Ivanov).

What makes waves unique?

As one of the first offerings in its field, Waves set out to improve on the early blockchain platforms and products. From the outset, it aimed to appeal to prospective business clients looking to use blockchain to improve processes or create new services. Waves supported smart contract and DApp development, ensuring that speeds and ease-of-use surpassed competition at the time. Since then, other products have appeared, including Gravity, a cross-chain and oracle network, and decentralized finance (DeFi) focused platform Neutrino. Waves DEX is a decentralized cryptocurrency exchange. In 2020, Waves announced that its platform would be interoperable with the Ethereum network by releasing the WAVES token as an ERC-20 standard asset.

How many Waves (WAVES) coins are there in circulation?
  1. WAVES began as a fixed-cap token for the Waves platform with 100 million tokens available. In its ICO — which raised 30,000 BTC — 85% of the supply went to sale participants, 4% to partners and supporters, 9% to the developers and 1% each to early supporters and bounty schemes which occurred after the ICO. Its utility increased in time, and in 2019, it was decided to remove the supply cap, with decision-making transferred to network participants. Currently, the block reward is 6 WAVES, and any changes come in the form of votes — users must choose whether or not to decrease the block reward by 0.5 WAVES every 110,000 blocks.
How is the Waves network secured?

Waves uses a modified proof-of-stake algorithm called WavesNG. The technology is based on Bitcoin-NG, a scaling proposal by well-known Bitcoin advocate, Cornell University developer Emin Gün Sirer. Waves highlights that its code is open source, allowing for more trust and ease of maintenance than closed source enterprise blockchain solutions.

Where can you buy Waves (WAVES)?

WAVES, as a cryptocurrency on the market for over four years, is widely tradable on a large number of exchanges. Pairs operate between WAVES and other cryptocurrencies, stablecoins and fiat currencies.

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