Waves Promising Coin (WAVES): Cryptocurrency Review

Waves blockchain platform and its technology

Waves is a platform that provides users with the ability to create, transfer and exchange fiat money and digital assets, thanks to Blockchain technology. This technology allows you to carry out exchange transactions while avoiding the volatility of rates. The development of the project is based on the idea of transmitting and regulating encrypted messages, issuing crypto assets and centralized crowdfunding. The platform was created in the style of the NXT cryptocurrency, as the development team includes people who previously worked on the NXT project.

In 2016, from April to May, the Waves platform ran an ICO campaign, during which about 30,000 Bitcoins were raised for the project (approximately 15 billion US dollars at the time). As a result of such a successful collection, the platform ranked seventh in the global top of all crowdfunding campaigns and attracted new customers. After that, many companies conducted ICOs based on Waves, for example: Starta ICO, wBTC, Incent, MobileGo, Darcrus, ZrCoin, WCT.

Waves developers believe that by taking the functionality of Bitcoin, they have expanded it, implemented improvements and made it more convenient to transfer valuable information. Since the idea was not to completely replace Bitcoin technology, but to create an absolutely decentralized platform on which all crypto assets and fiat money can be developed, transferred and sold. Despite the fact that decentralized technology is not new in the world of crypto, however, Waves takes the best from all aspects and creates a full-fledged exchange with fast and secure Matcher functionality. The functionality easily allows you to convert from fiat to crypto and transfer information by blocks in a faster mode than it would be with banking services. The platform also provides simplified actions with clients' crypto wallets (Waves Wallet).

It is worth mentioning that the platform issued 100 million of its own WAVES tokens, 80 million of which were sold at the ICO, and the remaining 20 were reserved.

Waves Development Team

The chief director and founder of the Waves blockchain is Alexander Ivanov, a graduate of physics at Moscow State University and a graduate student at the University of Leipzig. He has extensive experience in the development of digital payment nodes and computing systems for predicting situations in global financial markets. Previously was on the NTX project development team. Sources say that Alexander created one of the first crypto exchanges called "Coinomat", the CoinoUSD fiat coin, the Coinoindex cryptocurrency exchange computing scheme, and the highly risky Cryptoasset fund.

The founders and lead developers of the project are:

• Maxim Pertsovsky is a graduate of the Farminers school and the founder of the Green Garage platform. On the Waves platform, he works as an operating system director.
• Eryushev Philipp - manages the marketing part and is responsible for advertising campaigns and online promotion of the project.
• Filipak Phil is a programmer who specializes in the following languages: Python, Bash and JavaScript. Develops the Waves wallet functionality, interface and menu of the platform.
• Kalikhov Artem is responsible for the HR department of the company, as well as design and management.

The project managers, in turn, provide financial support, from which funds are allocated for the marketing part and technical developments in Waves. The platform is focused on hosting in dApp, and as the project continues to develop and has the most promising industry for investment, we are waiting for very promising forecasts for the future of the project.

Cryptocurrency Waves: features and specifications

Cryptocurrency (not a token!) Waves was created on the basis of Bitcoin technology, namely its cryptographic methods of protecting user data. Many analysts and experts also argue that Ethereum algorithms have played an important role here.

The system exists and functions on the basis of the modification of POS - LPoS. One of the characteristic features of this algorithm is the ability for clients to transfer their cash balances to other clients for rent for mining. Here it is worth clarifying that the user who provides his funds for rent has every right to take them back at any time.

Advantages of the LPos algorithm:

• After leasing activation, all coins remain with you.
• You can withdraw your funds at any time or give them to another mining administrator.
• On the platform, rewards are paid both with waves coins and any other tokens from the platform.

Waves coins can be exchanged for any other coin and token, there is also the possibility of converting waves into fiat money.

Platform users are given the opportunity to create their own unique tokens based on the platform, which can be obtained through crowdfunding in order to raise funds for their personal project, and not for a company project. The price of the token will be determined depending on the rate of coins on trading platforms and exchanges. Any user can enable a full node on a computer or lease personal crypto coins. The master nodes, in turn, develop new cryptoblocks.

How to mine Waves?

Through the L Proof-of-Stake ecosystem, users lend the balance of their funds to healthy blocks on the network. After that, the miners mine coins and separate the tenants from the earned money. The amount of profit is paid according to the percentage of invested funds and the number of transactions carried out in the block.

LPoS has set a minimum threshold for personal funds to miners - this is 1000 Waves. However, the limit can be increased by raising additional funds when starting the pool. After all, the more money the miner has in his account, then the trust in him from the side of users will increase.

Since all coins have already been issued, miners can profit from mediation and processing of exchange transactions.

The structure of the mining process:

1. The node gets the opportunity to create a new block.
2. The key block is generated. Then a public key is generated in the block, which confirms the identity of the miner. It is also needed to create new blocks.
3. The miner processes and accepts transaction requests and enters them into the key block. In this block, each microblock has its own cryptographic code.
4. After that, all blocks are integrated and ready for subsequent operations.

Where and how to buy Waves cryptocurrency?

Waves cryptocurrency can be bought on exchange platforms. As for exchanges, today the cryptocurrency is traded on almost 50 different ones, here is a list of the most popular ones:

• HitBTC;
• EXMO;
• Bittrex;
• YoBit;
• OkeX;
• Binance;
• Kraken.

You can exchange a cryptocoin for Ethereum, Bitcoin, Tether, Dogecoin, as well as for fiat money. There are many popular exchange pairs: WAVES to USDT, WAVES to BUSD and many more.

Waves course, prospects and forecasts

The prospects of the project and cryptocurrencies may directly depend on how developed their competitors who work in this industry are. The strongest competitors of the Waves cryptocurrency are the following projects:

• Ethereum (ETH);
• NEO;
• Ripple (XRP);
• Stratis (STRAT);
• NXT;
• Cardano (ADA);
• Stellar (XLM);
• QTUM;
• Lisk.

The services that these projects provide are a bit similar to Waves, as most of them also feature native token issuance on the platform, high application processing speed, and full network scalability. But there are some differences, as many of the competitors work with smart contracts, cross chain and sidechain. In the top capitalization are Ethereum, Ripple, Cardano and others. The championship among all belongs to ETH, despite the fact that many parameters of this cryptocoin are much worse than those of Waves. It has much less scalability and speed, a complex token creation algorithm, much higher fees, and no connection to fiat money.

We can conclude that in terms of technology, the Waves cryptocurrency is already very advanced and relevant. It can compete with and even surpass many projects, but it still lacks popularity in the world capitalization. Since in 2017 the coin was in the top 10 of the best, at the time of writing, it went down a little. The main aspect that is an obstacle to the growth of the Waves rate and attraction of investments is the orientation towards the Russian market and the CIS countries. The chief director of the project is trying to change the situation and begins to actively cooperate with Asian countries.