What is Waves?
Waves is a blockchain platform which is open-source in nature. The platform allows users to launch their own custom cryptocurrency tokens. Founded by Sasha Ivanov in December 2016, the Waves platform enables users to crowdfund a project or create an in-app currency. Users can launch ICOs (Initial Coin Offering) to fund their projects and avoid the hassle of going through intensive cryptocurrency coding.
The cryptocurrency of the platform is called Waves and the supply of Waves tokens is fixed at 100 million.
Features of Waves
- Person to Person fund transfer: It is easy to transfer cryptocurrency between members thanks to Waves high network speed. Over hundreds of transactions can be conducted per second at a small commission.
- High Security: The platform claims to be highly secure as it stores your balance and it can be managed and accessed only by the user.
- Leasing: Thanks to balance leasing, miners can lease sum of Waves to earn interest. Leased Wave tokens are fully controlled by the account holder, and can be transferred or exchanged at any point.
- Waves Decentralised Exchange: Decentralised Exchange (DEX) is integrated within the wallet. It enables users to trade tokens on peer-to-peer basis. It has no limit on withdrawal of tokens. An automated matcher is used by the DEX to pair buy or sell orders and exchange them once they are fulfilled.
Where to buy Waves?
Waves tokens are listed on DEX and several popular exchanges like Bittrex, Binance, Livecoin and others.
Waves uses proof-of-stake algorithm. In order to start mining, you will need to download and launch the node, and have 1,000 WAVES in your wallet.
Waves app is available on Android and iOS. It is also available as a Chrome extension. Waveswallet.io is the official website of their wallet and wallets for your custom cryptocurrencies can be created on this site.
The market capitalisation of Waves on 21 May 2018 was $602,086,000 while the price of one Waves token was $6.02. The ICO of Waves completed in June 2016 raising over $16 million. At the beginning of January 2018, the price of Waves token was around $13. However, the price kept falling over the months and has been flat for sometime.
Risks involved with investing in Waves
Cryptocurrencies are volatile in nature and hence it is not easy to predict the rise and fall in price. They are also subject to government regulations. Hence, investing in mutual funds instead could be a better and more reliable option.
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