Cryptocurrency Waves (WAVES): overview, prospects and forecast, price, rate chart, how to buy or sell WAVES

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Waves is a decentralized blockchain platform that focuses on custom token transactions. Special access operators support the translation of national currencies, and the decentralized token exchange system facilitates the processes of crowdfunding, fundraising and buying / selling financial instruments. For work, lightweight software clients with a simple interface are used.

WAVES is the platform’s internal token. It is traded on many cryptocurrency exchanges, including Binance, EXMO, FTX, Huobi, OKEx, etc.

Name Price Market Cap Supply Change % (7D) Performance
Waves WAVES
$9.02
$968,315,934.34 107304514 WAVES
-1.44%

Waves – what is it

The technical motivation of the WAVES platform is to lighten the nodes so that they do not load the blockchain. The classic Bitcoin approach is not very scalable, since it is difficult to store the history of all transactions on each node. There are various ways to mitigate this inconvenience – bidirectional payment tunnels, off-chain transactions, etc.

However, the simplest approach creates a two-tier architecture in the network — low-capacity nodes are forced to rely on larger-capacity nodes. This is the initial stage of centralization. This results in trust issues as light nodes must trust full nodes and can fall prey to malicious full nodes.

At the heart of WAVES is the Scorex platform, which takes an approach based on the current state of the network as an alternative to keeping a complete history of operations. Lightweight nodes use simplified payment verification procedures, but they offer an additional layer of security.

At first glance, the approach taken by Waves seems extreme to the supporters of classic cryptocurrencies. Light nodes do not load the blockchain at all since full nodes are accessed for networking and payment. Similarly, the Nxt platform has been operating for several years.

Characteristics of the WAVES cryptocurrency

Indicators of the Waves cryptocurrency as of November 26, 2021:

CryptocurrencyWAVES
TickerWAVES
Capitalization$2,047,159,256
Course$19.15
Ranking place72
Current issue100 000 000 WAVES
Maximum emission100 000 000 WAVES
Websitehttps://wavesplatform.com/
Reviewerhttp://wavesexplorer.com/
ExchangesBinance, EXMO, FTX, OKEx, Huobi and others
Mining algorithmLPoS
Official walletWaves Wallet
Transactions per second100
Block processing time1
Project launch year2016
CEOAlexander Ivanov

Price chart WAVES

Where and how to buy / sell WAVES

Waves cryptocurrency is traded on many cryptocurrency exchanges. The main trading volume comes from Binance, EXMO, Yobit, Huobi, Bittrex, etc. Also, you can exchange or receive WAVES in cryptocurrency exchangers.

Instructions for trading on the EXMO fiat exchange:

  1. We go through registration, indicating a valid email and a strong password.
  2. We confirm the email address.
  3. To protect your account, enable 2-FA (two-factor authentication in your profile settings).
  4. We replenish the balance in a convenient way. Fiat currencies are available: Russian rubles, Ukrainian hryvnia, US dollar, euro, Turkish lira, Polish zloty and cryptocurrencies.
  5. In the “Trades” section, you need to select a currency pair: WAVES / BTC, WAVES / ETH, WAVES / RUB, WAVES / USD.
  1. The next step is to create a buy or sell order. If this is a limit order (Limit), then indicate the quantity and price; in the market (Market) – only quantity.
  1. The “Market” order will be executed instantly by choosing the required amount of cryptocurrency from the counter orders. “Limit” order – upon reaching the price specified in the order. In this case, the limit order will be displayed in the order book.
  2. To withdraw Waves from Exmo wallet, click “Withdraw” and enter the address:

Instructions for buying / selling WAVES on the Binance crypto exchange (it is the most liquid trading platform):

  1. We create an account and confirm the email. Without verification, you can withdraw up to 2 BTC per day.
  2. We replenish the balance. You can transfer cryptocurrencies or buy BTC, ETH from a bank card.
  3. To purchase cryptocurrency for fiat, use exchangers or other fiat crypto exchanges.
  4. The following pairs are available on Binance: WAVES / BTC, WAVES / USDT, WAVES / PAX, WAVES / TUSD, WAVES / USDС, WAVES / BNB, WAVES / ETH.
  1. Create an order by selecting its type: Limit, Market, Stop Limit.

Description of the project, history of creation

The Waves platform was launched in March 2016. The creator is Russian businessman Alexander Ivanov, who was inspired by the experience of the NXT platform.

The development of the project began with an ICO, and by July 2016 it was possible to collect almost 30,000 BTC, which made Waves the best ICO of 2016. It is believed that this success was achieved thanks to a combination of innovative technologies and the actual idea of the project itself.

In the spring of next year, users were able to buy Bitcoins directly with fiat, thanks to the collaboration with the Indacoin trading platform. And soon the DEX exchange was founded, aimed at exchanging cryptocurrency tokens among themselves without the participation of Bitcoin or Ethereum.

The introduction of payment gateways in the form of euros and American dollars had a strong impact on the growth of the Waves cryptocurrency rate – now many large investors are interested in the asset.

Feature, technical implementation

Proof-of-Stake was chosen as the consensus algorithm – in part because of its successful use in Nxt, in part because of certain theoretical considerations. However, Waves PoS has been enhanced to reduce transaction times and increase network throughput.

Lightweight nodes are implemented as browser plugins written in JavaScript. Their interaction with full nodes is done using Scorex. The plugin is installed from the browser’s app store; immediately after that, the user receives a full-fledged blockchain wallet, since loading the chain is not required to work.

As for the additional functions of Waves, they include messaging and decentralized voting – the developers advocate the joint development of the project.

Transaction fees are paid in the form of custom tokens. Simultaneously with the transaction in question, an order is sent to the decentralized exchange to exchange the asset for the main network token, and the transaction is included in the block only after the execution of this order.

Advantages and disadvantages

Strengths of Waves cryptocurrency:

  1. Convenient and intuitive wallet interface.
  2. The original scheme for receiving coins. Only nodes with 10,000+ tokens participate in the mining, while small investors can lease their tokens to larger ones, in return receiving passive income as a percentage of profit.
  3. Own cryptocurrency exchange service with low fees.
  4. Wide functionality of the site. There is support for plugins for Google Chrome.

Weaknesses of Waves cryptocurrency:

  1. Creating your own tokens requires a deep understanding of the law in order not to face legal claims.
  2. Anonymity has been reduced due to the KYC (Know Your Customer) system. True, in this way, the creators also reduced the risks of fraud.
  3. The platform has not yet been honed to a flawless state, although most of the initial bugs and inconveniences have, of course, been eliminated.

Wallets for cryptocurrency WAVES

The interface of the official Waves Wallet is similar to the traditional interfaces of online banks or brokers. Integrated support for fiat currencies allows you to transfer the required amounts by expressing them in fiat. The exchange of national currencies through the blockchain is carried out with the help of a trusted service provider. After completing the purchase, the user can trade the currency on a decentralized exchange or transfer it to another participant.

The Waves developers consider it important to keep the interface that users are used to, but gently combine it with blockchain technologies. This is one of the keys to mass adoption. Waves Wallet is available on popular platforms: Windows, Mac OS, Linux, iOS, Android.

Other wallets for cryptocurrency WAVES: Paytomat, CoinPayments Wallet, Guarda Wallet, Ledger Nano S, Swiss Bank In Your Pocket, Akchex Wallet, Satowallet Exchange.

Mining. How to mine Waves (WAVES)

Mining coins is not possible with computer equipment. Initially, the developers issued 100 million tokens and distributed them among the ICO participants.

Mining is done through LPoS, an advanced version of PoS that allows coins to be leased. To start “mining” Waves cryptocurrency, a participant must transfer his savings to the owner of a full node, and then simply receive passive income as a percentage of transaction fees. The profit depends on the amount of funds deposited.

To become a full node yourself, you need to have more than 10,000 coins on your account, as well as download and configure special software.

Prospects and forecast

At the moment, experts consider Waves a suitable option for long-term investment – the coin is unlikely to hit in the coming months.

The idea itself is extremely promising: users appreciated the opportunity to exchange their savings with a low commission and through a convenient fast service. There are still a lot of improvements in the project plans, which should positively affect the rate of this cryptocurrency.

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