Waves

• Waves (WAVES) is a blockchain platform for DApps and smart contracts launched in June 2016.

• It aims to enhance speed, utility, and user-friendliness over early blockchain platforms.

• WAVES, the native token, is used for payments and block rewards.

• Initial distribution: 85% to the token sale, 1% to early supporters, 1% to post-ICO bounties, 4% to strategic partners/backers, and 9% to the development team.

• The circulating supply is 100 million tokens, with an uncapped maximum supply.

As of today #{today’s date}, the price of Waves is ₹0 INR or #{coinPriceUsd} USD, with a 24-hour trading volume of 13867133.32 USD. The market capitalisation for Waves is 129566315.26USD. The circulating supply is 115225312 Waves, with the total supply also being 115225312 Waves.

Pros:

• User-friendly platform with high transaction speeds.

• Options for passive income through WAVES staking.

• Users can create and issue their own tokens.

• Built-in decentralised exchange on the platform.

Cons:

• Relatively low awareness and adoption.

• The simplicity of the platform may deter technically advanced users.

• The platform is still in the development phase.

• Offers a user-friendly platform with high transaction speeds.

• Allows the creation and issuance of custom tokens.

• Features a built-in decentralised exchange and staking options for passive income.

• It focuses on ease of use and enables the creation of custom tokens without in-depth programming knowledge.

• Provides a decentralised exchange and tools for DeFi applications.

• Addresses the complexity of creating and managing custom blockchain tokens and DApps.

• Simplifies the development process for various use cases, making blockchain more accessible.

• It was founded by Alexander Ivanov, a Russian entrepreneur with a team skilled in technology and blockchain.

• ICO was conducted in April 2016, with the blockchain launching in Q3 2016.

• WAVES token was initially priced at $0.188 during its ICO, raising $16.01 million.

• Includes market volatility, regulatory changes, and technological and security challenges.

• Competition with other blockchains and the need to consider the platform's development and adoption levels.

The Waves whitepaper outlines the platform’s vision to address the shortcomings of early blockchain systems by providing a user-friendly, scalable, and versatile blockchain network. Waves introduced a framework that allows users to issue custom blockchain tokens, which can be used for a wide range of applications, including crowdfunding, loyalty programs, and in-app currencies.

At the core of Waves’ functionality is the ability to create tokens without the need for complex smart contract programming. This is achieved through the platform’s unique token issuance mechanism, which simplifies the process of asset creation and management. The platform also incorporates a decentralised exchange (DEX), enabling users to trade their newly created tokens securely and decentralised.

Waves employ a modified Proof of Stake (PoS) consensus algorithm called Leased Proof of Stake (LPoS). This consensus mechanism allows users to lease their WAVES tokens to full nodes, participating in the network’s security and earning rewards without running a node themselves. This approach is designed to ensure network security while maintaining high transaction throughput and low fees.

The whitepaper also discusses the Waves-NG protocol, an adaptation of Bitcoin-NG, which aims to solve the scalability issues traditional blockchain systems face. Waves-NG increases the network’s capacity and reduces latency, allowing faster transaction processing times.

Waves place a strong emphasis on community governance. The platform allows WAVES token holders to vote on key network decisions, ensuring that the platform's development and evolution are aligned with its users' interests.

The whitepaper highlights the platform’s commitment to fostering a developer-friendly environment. Waves provide a range of tools and APIs to support developers in building and deploying DApps on the network. The platform’s native programming language, RIDE, is designed to facilitate the creation of smart contracts and other blockchain functionalities.

In summary, the Waves whitepaper presents a comprehensive vision for a blockchain platform that is accessible, scalable, and adaptable to various use cases. It emphasises the importance of user experience, community involvement, and developer support in achieving widespread adoption of blockchain technology.