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Summary of Waves (WAVES)
Overview
- Waves is a multi-purpose blockchain platform supporting DApps and smart contracts.
- Launched in June 2016 following an ICO.
Founders
- Founded by Alexander Ivanov (Sasha Ivanov), a Ukrainian-born scientist.
- Ivanov created Coinomat, Cooleindex, and CoinoUSD.
- Waves employs over 180 people in Moscow and Switzerland.
Unique Features
- Aimed to improve on early blockchain platforms.
- Supported smart contract and DApp development.
About Waves: Empowering the Future of Blockchain Innovation
Introducing Waves (WAVES): A Pioneering Blockchain Ecosystem
Waves is a versatile, multi-faceted blockchain platform, adept at supporting a diverse array of use cases, including the development and deployment of decentralized applications (DApps) and smart contracts.
Launched in June 2016, following one of the pioneering initial coin offerings (ICOs) in the cryptocurrency industry, Waves embarked on a mission to surpass the inaugural blockchain platforms by significantly enhancing speed, utility, and user experience.
The platform has undergone a series of transformative changes, incorporating innovative spin-off features that have significantly enhanced its original design.
At the heart of the Waves ecosystem lies its native token, WAVES, an uncapped supply token that facilitates standard transactions, including block rewards, thereby fueling the network’s operations.
The Visionaries Behind Waves: Meet the Founders
Waves is inextricably linked with its visionary founder, Ukrainian-born scientist Alexander Ivanov, also known as Sasha Ivanov, whose pioneering spirit has left an indelible mark on the industry.
Prior to founding Waves, Ivanov had already established himself as a prominent figure in the cryptocurrency landscape, having successfully launched Coinomat, a pioneering instant exchange, and Cooleindex, a comprehensive indexing site. Notably, he also developed an early prototype of a stablecoin, CoinoUSD, which was pegged to the value of the U.S. dollar.
Ivanov is a vocal advocate for Waves, regularly engaging in interviews that delve into the platform’s intricacies and the broader blockchain landscape.
As stated in Waves’ marketing materials, the company’s workforce has grown to comprise over 180 individuals, with offices situated in Moscow and Switzerland.
Unveiling the Distinctive Characteristics of Waves
As a pioneering force in its domain, Waves embarked on a mission to surpass the limitations of early blockchain platforms and products, thereby elevating the industry standard.
From its inception, the primary objective was to cater to forward-thinking business entities seeking to harness the transformative power of blockchain technology to optimize their operational processes or develop innovative services.
Notably, Waves pioneered the development of smart contracts and decentralized applications (DApps), thereby delivering unparalleled speed and user experience, surpassing its contemporaries.
Subsequently, a plethora of innovative products have emerged, including Gravity, a pioneering cross-chain and oracle network, and Neutrino, a decentralized finance (DeFi) platform. Furthermore, Waves DEX has established itself as a decentralized cryptocurrency exchange.
In 2020, Waves proclaimed a significant milestone by announcing the interoperability of its platform with the Ethereum network, thereby introducing the WAVES token as an ERC-20 standard asset, thereby fostering seamless interactions between the two ecosystems.
The Circulating Supply of Waves (WAVES) Coins: An Overview
WAVES originated as a fixed-cap token for the Waves platform, boasting an initial supply of 100 million tokens.
In its initial coin offering (ICO), which garnered a staggering 30,000 BTC, the token distribution was allocated as follows: 85% was reserved for sale participants, 4% was allocated to partners and supporters, 9% was designated for the development team, and 1% each was set aside for early supporters and bounty schemes, which took place subsequent to the ICO.
Over time, its utility has experienced significant growth, and in 2019, a pivotal decision was made to abolish the supply cap, thereby delegating decision-making authority to network participants.
Presently, the block reward stands at 6 WAVES, with any adjustments contingent upon community consensus, wherein users are empowered to decide whether to decrement the block reward by 0.5 WAVES every 110,000 blocks through a voting mechanism.
The Security Mechanisms Underpinning the Waves Network
Waves employs a modified proof-of-stake algorithm, dubbed WavesNG, which is rooted in Bitcoin-NG, a scaling solution proposed by Emin Gün Sirer, a renowned Bitcoin advocate and esteemed developer at Cornell University.
Waves underscores the transparency and reliability of its open-source code, fostering a higher level of trust and facilitating seamless maintenance, in stark contrast to closed-source enterprise blockchain solutions.
Acquiring Waves (WAVES): A Comprehensive Guide to Exchanges and Marketplaces
With a market presence spanning over four years, WAVES has established itself as a widely tradable cryptocurrency, boasting a strong presence across a multitude of prominent exchanges.
Trading pairs are established between WAVES and a diverse range of cryptocurrencies, stablecoins, and fiat currencies.
Trading volumes are remarkably dispersed, with prominent exchanges such as Binance and Huobi Global emerging as the largest market venues.
New to the world of cryptocurrency? Fear not! Our comprehensive guide is here to walk you through the seamless process of acquiring Bitcoin or any other digital token with ease.
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