Nowadays Cryptocurrencies are in trend more than ever. Bitcoin is mooning right now and all other cryptocurrencies are also on a rise. For a crypto enthusiast, this is a great time to do some trades. If we go to an exchange, you will see several Cryptocurrencies on a rise. Among them, there is one which all crypto traders and enthusiasts must know. The name of that cryptocurrency is WAVES.
Waves is a versatile platform which provides means to create a crypto token for yourself. For those who want to create a token for themselves or holding an ICO, Waves would be a platform for them.
Let’s understand this in Details:
What Is Waves?
Waves is a Blockchain based open platform designed in such a way that people can use it with ease. Anyone can design, distribute and create his own token using the easy to use UI of Waves platform. The Waves platform is completely Decentralized, Secured, Viable and Transparent.
Lets say if you’re a user of Waves platform, you can create a token on the platform pretty easily what this means is If you have an initial coin offering for a new project, you can use Waves platform to launch it without having to code your own sort of Blockchain. It is like a Kickstarter for an ICO project.
What Separates Waves From Other Platforms?
The thing which is really interested for Waves platform is that Waves platform is a DEX (Decentralized Exchange). Although Waves is not the only platform to put out a decentralized exchange, there are multiple efforts has already been done by other creators. But what separates Waves from other is that Waves linked its Decentralized exchanges with Fiat gateways. So it has become an easy on ramp and off ramp for Dollar, Euro, Yen and other fiat currencies. Currently, Euro gateway is being deployed. Its in initial stages and just have just started. I think this is going to be a major driver of this particular platform.
Waves also employs the use of Smart contracts but it’s much more simplified. With Ethereum you can actually build anything on it like an operating system for a computer. Waves on the other hand can do all these things too but with an easy approach. Without using the coding language, you can actually use pre-designed plugins for your tasks.
How Staking and Auditing/Mining Works In Waves Platform?
If you have 10000 WAVES right now, you can set up your very own full nodes which audits the network. Like in Bitcoin, there’s mining. In the same way, in WAVES there is auditing. You will audit the transactions and will get a fees in return. In case of leased proof of stake, you have to come up with the staking pools instead of full nodes.
Let’s just say you have 10000 Waves which you want to use for stake and somebody else have 5000 Waves which is actually below the minimum balance required to participate in release proof of stake. Now they would add 5000 Waves to your 10000 Waves. The you would have 15000 Waves to start staking and participating in auditing the network making it more secured.
How Fiat Gateways Works In Waves Platform?
Fiat gateways works by transferring the money directly from your bank account or credit card to cryptocurrencies. You don't have to buy some mother currency first, you can directly buy waves or other crypto listed on WAVES platform easily through the use of Fiat currency.
Waves is trying to partner with various bank and financial institutions to come ease up the buying of cryptocurrency with fiat. Although it hasn’t started yet but it definitely will, soon.
Waves Stats and Charts:
Total Market Cap: $453 Million
24 hr Volume: $2.34 Million
Total Token Supply: 100 Million
Current price: $4.53
Waves is indeed a versatile and amazing platform for all your needs. Be it creating, designing or trading tokens, the Waves will be at your service. Make sure you visit their website to know them better and decide its potential for yourself.
Thanks for reading..!!
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