Continuing on the theme of decentralized exchanges, today I’m writing about the Waves Platform.
My other posts on decentralized exchange plays include Komodo, Blocknet, Binance Loopring, KyberNetwork and Project 0x.
The platform was developed by Russian physicist Sasha Ivanov in 2016. It’s an open-source blockchain that features a wallet, decentralized exchange, and token launch platform.
Previous to Waves Sasha was involved in the NXT cryptocurrency platform and Waves was designed to overcome the shortcomings of that platform.
Waves uses a PoS consensus model like NXT but uses Waves-nG, which was adapted from Bitcoin-NG and enables high transaction volumes and fast confirmation times.
This project has been around for a while. The token sale was held in April and May of 2016 when Waves was able to raise roughly 30,000 bitcoin, worth around $16 million at the time.
There’s a total supply of 100,000,000 WAVES and the WAVE token is used for fees. Transfer fees cost 0.001 WAVES, decentralized exchange fees cost 0.003 WAVES and it cost 1 WAVE to issue a token.
The main features of the Waves platform are the gateways, decentralized exchange, and token issuance platform.
Over 2017 Waves launched gateways for credit cards, a Euro gateway, a US dollar gateway, an Ether gateway, and gateways for Litecoin and Zcash.
To date nine projects have launched their token on Waves. The largest by far was MobileGo (MGO), the virtual marketplace for gaming items. The second largest is ZrCoin (ZRC), a Russian project for producing synthetic zircoinium.
With consistent progress in 2017 early investors have been rewarded.
Waves launched its decentralized exchange in [April 2017]. You can use it right now by downloading the mobile or Chrome app.
Right now it does about $500,000 in daily volume. Not bad but very small in the grand scheme of things.
I’ve used it. It’s not bad but it’s not great either. If it were more user friendly I could see adoption growing.
What do you think of Waves?
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