Waves

WAVES (WAVES): A Comprehensive Guide to the Versatile Blockchain Platform

What is WAVES (WAVES)?

WAVES (WAVES) is a multi-purpose blockchain platform launched in 2016 by Russian physicist Alexander Ivanov. The platform was designed to address the limitations of existing blockchain solutions by offering a more user-friendly, scalable, and customizable ecosystem. WAVES focuses on enabling businesses and individuals to create custom tokens, execute smart contracts, and build decentralized applications (dApps) with relative ease and minimal technical knowledge.

How Does WAVES (WAVES) Work?

The WAVES (WAVES) platform operates on a modified Proof-of-Stake (PoS) consensus mechanism called Leased Proof-of-Stake (LPoS). This system allows WAVES token holders to "lease" their tokens to full nodes on the network, contributing to the network's security and validation process without giving up ownership of their tokens.

Key components of the WAVES ecosystem include:

• WAVES-NG Protocol - An enhanced version of the Bitcoin-NG protocol that enables faster transaction processing and higher throughput
• Smart Contracts - WAVES supports smart contract functionality through its Ride scripting language, which is designed to be secure and easy to use
• Token Creation - Users can create custom tokens on the WAVES platform with just a few clicks, without needing to write code
• Waves DEX - A decentralized exchange built into the platform that allows users to trade tokens directly

Staking and Mining WAVES (WAVES)

WAVES (WAVES) does not support traditional mining as it uses a Proof-of-Stake system rather than Proof-of-Work. Instead, WAVES offers staking through its Leased Proof-of-Stake (LPoS) mechanism:

WAVES Staking via Leased Proof-of-Stake

In the WAVES LPoS system, users can stake their WAVES tokens by leasing them to full nodes on the network. When you lease your WAVES tokens:

• You maintain full ownership and control of your tokens
• The tokens are "locked" for the duration of the lease, but can be unlocked at any time
• You receive a portion of the block rewards generated by the node you lease to
• Staking rewards typically range from 4% to 6% annual yield, depending on the node

This staking process is accessible even to users with small amounts of WAVES, as there is no minimum requirement for leasing (though larger amounts typically generate more significant rewards).

What is WAVES (WAVES) Used For?

The WAVES (WAVES) token serves several key functions within the ecosystem:

• Transaction Fees - WAVES is used to pay for transaction fees on the platform
• Staking - Token holders can lease their WAVES to validators to earn rewards
• Governance - WAVES holders can participate in platform governance decisions
• dApp Operation - Many decentralized applications built on WAVES utilize the token for various functions
• Token Creation - While token creation is simplified on WAVES, it still requires a small amount of WAVES tokens

WAVES Distribution and Launch

WAVES (WAVES) was launched through an Initial Coin Offering (ICO) that took place from April to May 2016. The distribution was structured as follows:

• Total Supply: 100,000,000 WAVES tokens
• ICO Distribution: 85,000,000 WAVES (85% of total supply)
• Team Allocation: 15,000,000 WAVES (15% of total supply)

The ICO raised approximately $16 million, making it one of the more successful blockchain crowdfunding campaigns of its time. Unlike many other cryptocurrencies, WAVES did not have any pre-mining or founder allocations beyond the team allocation mentioned above, creating what many consider a relatively fair distribution model.

Additional Key Features of WAVES (WAVES)

Waves Enterprise

Waves Enterprise is a separate blockchain solution built on WAVES technology that focuses on business applications. It offers privacy features and compliance tools needed for corporate adoption of blockchain technology.

Gravity Hub

Gravity is an interchain communication protocol developed by Waves that allows different blockchains to interact with each other, facilitating cross-chain applications and token transfers.

Neutrino Protocol

Neutrino is a price-stable cryptocurrency protocol built on WAVES that enables the creation of stablecoins pegged to various assets. The most notable example is Neutrino USD (USDN), a stablecoin pegged to the US dollar.

Trading WAVES (WAVES) with Cryptohopper

For those interested in trading WAVES (WAVES), Cryptohopper offers an automated trading bot that works across multiple exchanges. This allows traders to implement complex strategies for WAVES trading without needing to constantly monitor the market. Whether you're a beginner or experienced trader, Cryptohopper's platform can help optimize your WAVES trading performance through backtesting, technical indicators, and automated execution of buy and sell orders.