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

Waves is a decentralized blockchain platform whose functionality is aimed at user transactions with tokens. Special access operators support the transfer of national currencies, and a decentralized token exchange system facilitates the processes of crowdfunding, fundraising and the purchase/sale of financial instruments. Lightweight software clients with a simple interface are used for work.

WAVES is the internal platform token. Traded on many cryptocurrency exchanges, including Binance, EXMO, FTX, Huobi, OKEx, etc.

Waves - what is it?

The technical motivation behind the WAVES platform is to make it easier for nodes to not load the blockchain. The classic Bitcoin approach does not have good scalability, since it is difficult to store the history of all transactions on each node. There are different ways to mitigate this inconvenience - bidirectional payment tunnels, off-chain transactions, etc.

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

WAVES is based on the Scorex platform, which takes an approach based on using the current state of the network as an alternative to storing a complete history of transactions. Light nodes use simplified payment verification procedures, but have an additional layer of security.

At first glance, the approach implemented by Waves seems extreme to supporters of classic cryptocurrencies. Light nodes do not load the blockchain at all, as they rely on full nodes for network communication and payment. The Nxt platform has been operating in a similar way for several years now.

Mining Waves

the Proof of Stake consensus algorithm .

But, later, the developers released a modified LPoS (Leased Proof of Stake) protocol.

In classic PoS, to participate in mining, each user must store a certain amount of tokens in the official wallet.

The LPoS algorithm used by Waves makes it possible to lease the wallet balance to full nodes, which are responsible for the health of the network.

Miners create balances using the funds of other users and pay them a portion of the profits for this.

You can either run a full node on your PC or lease coins to other users.

Full nodes in the Waves system process transactions and generate new crypto blocks.

The “thicker” the miner’s wallet, the greater the chance that he will be trusted to create the next block.

Advantages of LPoS:

1. Leasing does not at all imply the transfer of funds to the node’s wallet.
   The coins remain yours, you just need to activate leasing and select a miner.
2. Income depends on the efficiency of the full node.
   You can terminate the lease whenever you wish without the approval of the node and give the funds to another mining operator.
3. Remuneration for the rental of assets can be paid both in WAVES coins and in other tokens issued within the platform.

In LPoS, the minimum threshold for a miner’s personal balance is 1000 WAVES; you can attract additional funds by launching a pool.

Since all waves coins are issued, miners receive profit only from processing financial transactions.

Accordingly, the amount of payment to the lessor depends on the number of transactions included in this block.

The Waves-NG protocol, developed on top of Bitcoin-NG, reduces transaction latency and increases throughput without sacrificing network security.

The scalability problem is solved by continuously managing the block during the mining process in a continuous manner.

The liquid block era is extended until the next key block is created, allowing micropayments to be processed without delay.

Thanks to Waves-NG, the system can withstand increased loads during airdrops and ICOs. The concept of the protocol is based on dividing blocks into two types:

• Key block;
• Microblock.

The Waves-NG chain structure is formed as follows:

1. The node is allowed to create a new block.
2. Key Blocks are being generated.
   The volume of the key block is minimal; it only includes the miner’s public identification key, which is necessary for the formation of microblocks.
3. The miner processes transactions and includes them in microblocks, which are generated every 3 seconds.
   Each block has a header that contains the cryptographic hash of its predecessor.
4. Microblocks are created until the next Key Blocks referencing the liquid block is released.
   After verification, the microblocks are combined with the key block, and the new block is displayed on the waves explorer.

   The generation period for Key Blocks is 30-60 seconds.

If an attempt is made to double spend, the miner is deprived of his reward, and the commission is transferred to the node that discovered the attacker.

In addition to full nodes, master nodes also work in the Waves blockchain.

They are designed to carry out transactions over an encrypted channel.

The list of public nodes is available via the REST API https://nodes.wavesnodes.com.

Characteristics of the WAVES cryptocurrency

Indicators of the Waves cryptocurrency as of April 4, 2019:

WAVES rate chart

Buying and selling coins

Waves digital currency is traded on 30 exchanges.

Including:

• Binance;
• Bittrex;
• Kraken;
• EXMO;
• Livecoin;
• HitBTC;
• YoBit.

You can exchange the “wave” coin for Bitcoin, Ethereum or other cryptocurrency, or for fiat.

The EXMO exchange supports the WAVES/RUB exchange pair, and clients of the Kraken platform have access to the WAVES/EUR and WAVES/USD pairs.

For a complete list of exchanges, trading pairs, as well as the current waves coin rate, see https://www.coingecko.com/ru/Cryptocurrencies/waves#markets.

Waves.Exchange website on December 2, 2022 .

You can register on the site and receive a web wallet address or import data from an existing WAVES client and exchange wave tokens for traditional money or digital coins.

Link to registration page https://waves.exchange/create.

The Waves.Exchange application is available for installation on your smartphone.

You can store cryptocurrency and fiat money in it and, if necessary, perform a quick exchange.

Where and how to buy/sell WAVES

Waves cryptocurrency is traded on many crypto exchanges. The main trading volume comes from Binance, EXMO, Yobit, Huobi, Bittrex, etc. You can also exchange or receive WAVES at cryptocurrency exchangers.

Instructions for trading on the EXMO fiat exchange:

1. We register by indicating a valid email and a strong password.
2. Confirm your email address.
3. To protect your account, enable 2-FA (two-factor authentication in your profile settings).
4. We top up your balance in a convenient way. Fiat currencies available: Russian ruble, Ukrainian hryvnia, US dollar, euro, Turkish lira, Polish zloty and cryptocurrencies.
5. In the “Trading” section you need to select a currency pair: WAVES/BTC, WAVES/ETH, WAVES/RUB, WAVES/USD.

6. Next step: creating a buy or sell order. If this is a limit order (Limit), then indicate the quantity and price; in market (Market) - only quantity.

7. The “Market” order will be executed instantly by selecting the required amount of cryptocurrency from counter orders. “Limit” order - when the price specified in the application is reached. In this case, the limit order will be displayed in the order book.
8. To withdraw Waves from your Exmo wallet, click “Withdraw” and enter the address:

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

1. Create an account and confirm your email. Without verification, you can withdraw up to 2 BTC per day.
2. We replenish the balance. Transfer of cryptocurrencies or purchase of BTC, ETH from a bank card is available.
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/USDC, WAVES/BNB, WAVES/ETH.

5. We create an order by selecting its type: Limit, Market, Stop Limit.

Waves to US Dollar exchange service created for your convenience.

EXMO is a reliable cryptocurrency exchange with a high level of security of funds and data and the fastest technical support that responds within 15 minutes 24/7. Taking care of the client is the main priority of the EXMO team.

The EXMO platform, where you can exchange WAVES for USD, was founded in 2013 and has offices in London, Kyiv, Istanbul and Moscow. EXMO is one of the largest exchanges in Europe in terms of traffic, WAVES trading volume and liquidity.

The platform's easy-to-use interface will be convenient for both beginners and professional traders. The platform uses TradingView charts , which contain all the tools and data a trader needs for technical analysis when trading Waves or the US Dollar.

Log in to the platform, buy/sell Waves and store Waves in the EXMO multi-currency wallet.

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 such 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 for fiat, thanks to cooperation 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 - now many large investors are interested in the asset.

Prospects for cryptocurrency

What will happen in the coming years with the Waves virtual currency mainly depends on the policy of Alexander Ivanov’s company. Experts note that with timely elimination of shortcomings, expansion of functionality, and adaptation of the platform to the current cryptocurrency market, Waves electronic cash can in the future grow in price and take root among the leaders in capitalization. Already today, important steps are noticeable in the development of the described digital currency, for example, the use of tokens by many companies when carrying out real, rather than virtual, transactions. In 2022, agreements for the use of tokens were concluded by companies from various economic sectors: banking, pharmaceuticals, and legal. In particular, these were Gazprombank of Russia, Bioviva, Chronobank, Incent.

Waves cryptocurrency

According to the most positive forecasts of analysts, the rate of the Waves cryptocurrency in 2022 could soar by 4–7 dollars, and in another 2 years it will reach 9.9 dollars. There are also more optimistic predictions, according to which in 5 years the value of the token will increase to 20 and even 50 dollars. Also, a number of experts talk about negative prospects, assuring that the popularity of the described coin will steadily decline. But it is worth considering the fact that processes in the cryptocurrency market are quite difficult to predict, since its development is influenced by many factors. Interestingly, the platform is not very popular in the homeland of its developer. But the Dutch, Australians and residents of Great Britain are actively interested in it.

The Waves electronic coin today is a promising and popular cryptocurrency with many advantages. As the platform improves, clients will be provided with greater opportunities for trading and long-term investing.

Feature, technical implementation

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

Light 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 application store; immediately after this, the user receives a full-fledged blockchain wallet, since downloading the chain is not required for operation.

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

Transaction fees are paid in the form of user 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 this order is executed.

Features and Specifications

The founders of the waves cryptocurrency believe that the implementation of blockchain technologies will go faster and cover more areas of human activity, provided that the following problems are solved:

1. Blockchain's core objective of enabling the transfer of value through the "tokenization" of digital assets is often overshadowed by other considerations, such as a focus on smart contracts.
   The Waves platform makes it easy to buy and sell various digital assets on crypto platforms, regardless of which fiat or cryptocurrency is dominant in any part of the world.
2. ICO is an important component of launching a blockchain project, but organizing the pre-sale of tokens is a complex process.
   One of the main advantages of the Waves project is its intention to become the most effective and convenient platform for launching ICOs.

   The platform includes the Waves decentralized exchange (DEX), which allows you to exchange digital tokens for Waves coin or any other token created on the platform.

   DEX supports the exchange of digital currencies for fiat currencies, such as US dollars or euros.

3. Blockchain must be scalable and decentralized.
   To improve network throughput, Waves uses the Waves-NG protocol, which reduces block creation time and the likelihood of unnecessary forks.
4. Smart contract mechanisms must be optimized to work with different assets.
   The Waves platform makes this task easier with a special smart contract language called RIDE, which allows you to create categories such as “ smart assets ” and “ smart accounts ”.

Waves aims to be a one-stop solution for a variety of blockchain use cases. It is based on the " colored coin " method, which involves managing real-world assets through their association with addresses on the blockchain.

Tokens created on the basis of Waves can be linked to fiat currencies and other real assets, such as bonds, intellectual property, shares.

Waves' architecture allows third-party developers the flexibility to create and execute new types of transactions in an environment reminiscent of the app stores most users are familiar with.

Creating custom tokens means making settlements easier as tokens are customized to suit the needs of users and investors participating in the ICO.

They can be used as a stake in a decentralized voting model or as part of a ranking system.

And also when launching a customer loyalty program or discounts with rewards.

For example, Burger King customers were able to receive one Whoppercoin token for every ruble spent in restaurants.

Advantages and disadvantages

Strengths of Waves cryptocurrency:

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

Weaknesses of the Waves cryptocurrency:

1. Creating your own tokens requires a deep understanding of the law in order to avoid legal claims.
2. Anonymity is reduced due to the connection of 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 perfected, although most of the initial bugs and inconveniences have, of course, been eliminated.

Secure wallets

The WavesFX wallet is designed for installation on a computer.

Its functions are to store and make transactions in the “wave” cryptocurrency.

You can use it to trade on the stock exchange.

Waves wallet FX is a lightweight version of the wallet.

Once installed, you will not be able to directly participate in mining.

To download the full node.

follow the link https://docs.wavesplatform.com/en/waves-node/how-to-install-a-node/how-to-install-a-node.html and follow the instructions from the developers.

The developers suggest using SIGN as an alternative wallet.

This web application only works in a browser with the Waves Keeper extension installed.

Available for Chrome, Firefox, Edge and Opera.

“Wave” coins are supported by the Ledger hardware safe of any modification.

WAVES cryptocurrency wallets

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

Waves developers consider it important to preserve the interface that users are accustomed 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 WAVES cryptocurrency wallets : Paytomat, CoinPayments Wallet, Guarda Wallet, Ledger Nano S, Swiss Bank In Your Pocket, Akchex Wallet, Satowallet Exchange.

Waves project team

CEO and founder of the waves blockchain system Alexander Ivanov.

Graduate of Moscow State University with a degree in theoretical physics, postgraduate student at Leipzian University.

Has experience in developing virtual payment networks and neural systems for making forecasts in financial markets.

Worked in the Nxt blockchain project.

He created one of the first exchangers Coinomat., the fiat token CoinoUSD and the exchange index of digital currencies Coinoindex, as well as the venture fund Cryptoasset.

Leading project specialists:

• Maxim Pertsovsky - Chief operating officer.
  Graduate of the Farminers Project Academy.

  Founder of Green Garage, a platform where “ technology meets art .”

• Philip Eryushev is the head of the marketing department.
  Responsible for developing digital expertise for network users and conducting advertising campaigns.
• Phil Filipak — developer.
  Uses the computer languages ​​JavaScript, Python and Bash.

  Engaged in the development of the interface and functionality of the platform.

• Artem Kalikhov — Head of the technical department since December 2022.
  Works in the field of IT technologies since 2009.

  Main responsibilities: architectural design, product management, human resources.

The project management provides financial, technical and marketing support to developers creating solutions on Waves.

The network is focused on hosting dApps; in the current period, this is the most promising segment for the mass implementation of blockchain technologies.

Mining. How to mine Waves (WAVES)

Coin mining is not possible using computer equipment. Initially, the developers released 100 million tokens and distributed them among ICO participants.

Mining is carried out through LPoS, an advanced version of PoS that allows you to lease coins. To start mining Waves cryptocurrency, a participant must transfer his savings to the owner of a full node, and then simply receive passive income in the form of a percentage of transaction fees. Profit depends on the amount of funds deposited.

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

How to conduct an ICO on the Waves platform

As mentioned earlier, the Waves platform allows businesses to issue their tokens for different purposes. Companies can use them for discounts, loyalty programs or even voting.

It’s very easy to issue your own token, as the Wave client has a “Token Generation” tab. Here you can give your custom token a name and description, select the total quantity, decimals, and then create it. To do this, you need to pay only 1 Waves, then the token can be exchanged for DEX. There is also an “Airdrop” option so that the token is sent to each Waves holder, it will be displayed in wallets.

In fact, the further implementation of the global ICO is no different from Ethereum. But the Waves team sometimes promotes projects, organizes accelerators, etc., which can be strategically beneficial for a new startup.