WAVES
What is Waves?
Waves is a very famous place to build various decentralized finance (DeFi) applications. For example, projects such as Neutrino (stablecoin), a place for currency exchange and a platform aimed at various investments in the swop.fi cryptocurrency, and most importantly, the Waves decentralized exchange, have been made here. Also, various games and NFT platforms work on the blockchain.
Waves as a company reported that the daily number of transactions that go through the blockchain exceeds 100 thousand, and the maximum network throughput is 47 thousand transactions per second.
Waves identifies itself as a Decentralized Autonomous Organization (DAO). This is a non-commercial company and its main activities are research, development, grants and educational activities. Thus, the company is focused on the development of its blockchain. Grant sharing goes through the DAO. First, a proposal is put to the vote, for which all members of the Waves Association can vote. The main difference from other similar projects here is a relatively large entry – 100 WAVES for membership in the Waves Association.
The Waves blockchain works on the leased Proof-of-stake (LPoS) principle, which differs from the standard Proof-of-Stake (you can read more about what Proof-of-Stake is here)
The main difference between Leased Proof-of-Stake and regular Proof-of-Stake is the ability for wallets with a small amount of tokens to “lease” their coins to other wallets. Thus, if the wallet that rented the tokens receives a reward for creating a new block, then it will be proportionally divided relative to the contribution of each individual wallet.
When Waves releases an updаte to version 2.0, the principle of operation will change to another – PPoSS (Practical Proof-of-Stake Sharding).
Waves Mining
You can’t mine Waves like Bitcoin, for example. It can be stacked on your crypto wallet or rented out.
How do I purchase Waves?
You can buy Waves through a crypto exchange such as Leoexchanger, or on a crypto exchange, for example WhiteBit.
What can you do with Waves?
- Purchasing goods. In 2022, almost everything can be bought with cryptocurrencies.
- Trading. You can try out constantly buying and selling Waves, making money on price changes.
- Long-term investment. Buy Waves and hold it until the price rises.
- Rent out Waves. Let’s say you have 1,000 coins and you rent them out to a pool that has 100,000 coins. Thus, you will receive about 1% of the amount of coins that the pool will earn.
Waves price dynamics (USD)
As of August 2022, 1 Waves costs approximately $5.07. The total market capitalization is $553,496,101.
The price movement chart is shown below:
How to store Waves?
Waves can be stored in a crypto wallet or on your crypto exchange account.
More information:
