A lot of experts highly believe that Bitcoin is capable of changing one’s life for the better, in fact, a lot of experts even have an assumption that whether you want it or not, it would still change your life, as it’s slowly taking over the world. However, there’s still a lot that’s going to happen, because Bitcoin technology is still in its infancy. It still has to overcome the adaptation barriers down for the people. There are also a lot of aspects that would make this technology more dependable, especially for mainstream adoption. To give you a better idea, here’s what to know about Waves.
Overview
If you haven’t encountered the term, waves is considered to be a multifunctional blockchain platform with the main goal of creating custom tokens to be used on the platform. These are utilized to create and transfer in the exchange of fiat and custom tokens, together with other assets using blockchain.
With this kind of platform, you’ll be able to create custom tokens allowing you to be able to release your own cryptocurrencies and decentralize trading at the same time. Aside from that, you can also perform crowd funding since it comes with fiat currency gateways like USD/EUR/CNY.
Although tokenization is one of the striking features you can expect from blockchain, there’s more. It also contains decentralized exchange that allows the user to create a better trading environment, together with other useful features.
Just recently, Waves-NG was deployed, and it has been enhancing the platform speed transaction as it makes it possible to work on several dealings per second. That’s also why it’s considered as the quickest blockchain available.
The History
Waves platform was founded by Sasha Ivanov way back in 2016 right after the NXT developers revealed a modification in their industry, and this was something that caused a lot of issues. Its main purpose was to work on detected barriers to wider blockchain adoption, such as speed, scalability, and experience, but it has definitely gone beyond that. Now, the platform is known as the largest blockchain project being crowdfunded with more than 30,000 bitcoins.
What to Expect
Through the use of this blockchain platform, you’ll be able to safely store, manage, publish, and even trade your digital assets. It utilizes Bitcoin’s infrastructure which is considered as an open-source block chain infrastructure. Basically, its aim is not only to work as a substitute for Bitcoin, instead, a platform where cryptocurrencies, such as Hcash, Bitcoin, and the like can be transferred, modified, and easily arranged.
What Makes It Different
The idea behind this very innovative platform was the result of the ideas coming from other cryptocurrency projects, such as BitShares, NXT, and SuperNet. However, its key features are the following:
Smart Contracts: It doesn’t contain any smart contracts that are as complicated as Ethereum.
WavesDex: This was established on the blockchain that allows users to be able to trade ETH/BTC/etc for waves.
Tokenization: With this, you’ll be able to come up with your personalized tokens in a minute. However, to do that, you must have at least 1 WAVES token.
With WAVES, you’ll be able to label your token, and even determine the amount of crypto tokens you decided to distribute, as well as the decimal fractions you are willing to keep. This is ideal for crowd funding.
Fiat Gateways: With this, you’ll be able to trade any token being given on the platform, together with other crypto coins which you can then deposit in a bank.
Having the Best of Both Worlds
WAVES allow their users to keep all transactions made between cryptocurrency to fiat, and vice versa. That means you’ll be able to enjoy the best of both worlds. How convenient is that.
With this, you’ll have the ability of leveraging the blockchain to make payments for the goods, as well as services, or even consider crowdfunding. You can also be inventive with your tokens, and use it for discounts, loyalty programs, and many more.
Final Words
We can say that WAVES was built with the aspiration of being very helpful in the cryptocurrency world. Although the majority of its features are still under development, there’s no denying that it’s capable of producing remarkable results later on. For investors, until its decentralized exchange comes into existing, there’s definitely more to look forward to.
