Waves: everything you need to know about WAVES

What is Waves?

Waves (WAVES) is a decentralized blockchain platform founded in 2016 by the Russian entrepreneur Alexander Ivanov. The platform is designed to facilitate the creation of DApps (Decentralized Applications) and DeFi (Decentralized Finance). Waves offers users a user-friendly interface and tools for creating custom tokens. The WAVES token is used for transactions and as collateral for custom tokens.

How does Waves work?

Waves simplifies the process for developers to build their own DApps. The platform operates on the Proof of Stake consensus algorithm and provides various tools and features to streamline the development process. Waves also supports the issuance of custom tokens, allowing users to create their own cryptocurrencies for crowdfunding and other applications. The platform focuses on usability and speed, aiming for faster and cheaper transaction processing compared to networks like Ethereum.

The WAVES token

The WAVES token is designed as an ecosystem aimed at facilitating transactions and promoting the use of the Waves blockchain. The WAVES token serves as the native cryptocurrency of the Waves ecosystem and is used as a means of payment for transactions on the blockchain and as collateral for issuing custom tokens. Waves has a second token called 'Neutrino USD' (USDN), which is designed to remain stable relative to the US dollar. The value of the USDN token is stabilized through a combination of the USDN reserve, interest rates, and market demand.

Holders of WAVES tokens can participate in the transaction validation process on the blockchain. In return, they are rewarded with WAVES tokens as an incentive to help maintain the security and integrity of the network.

The Technology Behind WAVES

The technology behind WAVES is designed to facilitate the creation and exchange of digital assets and tokens. The blockchain platform utilizes its consensus mechanism called Waves-NG, a "Leased Proof of Stake" mechanism designed to provide faster transactions and higher scalability than traditional blockchain networks. The Waves platform consists of various components, including:

• Waves-NG Consensus Mechanism: A Proof of Stake consensus mechanism designed for faster transactions and higher scalability compared to Proof of Work mechanisms.
• Waves Lite Client: The official wallet client of Waves, available as a desktop application or through a web browser. The Lite client offers a simple and user-friendly interface for managing WAVES tokens and other digital assets.
• Decentralized Exchange (DEX): Waves' built-in decentralized exchange, allowing users to trade digital assets and tokens without a central party. The DEX uses the Matcher algorithm to facilitate fast and reliable transactions.
• Smart Contracts: Waves supports the development and implementation of smart contracts on its platform. These are programmed in the RIDE programming language, designed for simplicity and security.
• Waves Oracles: A system used to bring real-world data into the Waves platform. Oracles enable the integration of data from various sources into smart contracts on the Waves blockchain.
• Waves Enterprise: A separate entity focused on providing blockchain solutions for businesses. The Waves Enterprise platform uses a private blockchain based on Waves technology and offers various professional features and tools.

The Waves ecosystem

The WAVES ecosystem comprises various components and participants working together as a platform for creating, exchanging, and managing digital assets and tokens. Some key elements of the ecosystem include:

• Waves Platform: The foundational layer of the ecosystem, providing a decentralized infrastructure for creating, trading, and managing digital assets and tokens. It is designed for simplicity, catering to both developers and non-technical users.
• Waves Lite Client: A web-based wallet that allows users to securely store and manage their WAVES tokens and other digital assets.
• Decentralized Exchange (DEX): A decentralized exchange where users can trade digital assets and tokens. The DEX also supports fiat currency trading and offers a fast and secure way to trade assets.
• Smart Contracts: These enable developers to build DApps on the platform. Smart contracts serve various purposes, including tokenization, crowdfunding, and more.
• Waves Enterprise: A blockchain-based platform focusing on solutions for business and government services. It offers secure communication, authentication, data protection, and supply chain management.
• Waves Community: An active community of users and developers collaborating to enhance and expand the Waves ecosystem. The community supports the development of new applications, educational resources, and marketing initiatives.

Benefits of Waves

What advantages of Waves make the platform popular among its users?

• Highly user-friendly platform.
• High transaction speeds.
• Options for passive income from WAVES.
• Users can create and issue their own tokens.
• A built-in exchange on the platform.

Drawbacks of Waves

Waves also has its drawbacks. What should you consider when investing in Waves?

• Relatively low awareness and adoption.
• The strong simplicity may deter technically advanced users.
• The platform is still in a development phase.

Who is the founder of Waves?

The founder of Waves is Alexander Ivanov. In 2016, Ivanov founded Waves Platform AG, a for-profit company headquartered in Moscow, with the goal of driving the creation of a new blockchain network.

The Waves team conducted an initial coin offering (ICO) for its WAVES cryptocurrency in April 2016. The Waves blockchain launched shortly thereafter in the third quarter of 2016.

Price forecasts

In 2026 experts expect a minimal price of €4.35 and a minimal price of €14.39 in 2031.