Waves Blockchain - Explained


What is Waves ?

WAVES is a cryptocurrency, a decentralized exchange platform that allows for the creation of custom tokens and also for exchanges/trading of different cryptocurrencies. Creation of own crypto-tokens and DApps has been possible ever since the launch of Waves.
Wave platform can be a better choice for projects like crowdfunding, building a loyalty rewards program, or creating an in-app currency and so on. Waves support for DEX environment which allows for exchanges of newly created tokens without the involvement of middleman.

Origin of Waves

WAVES was officially launched in November 2016 by the Russian physicist, Alexander Ivanov. This waves platform uses Proof of Stake Consensus Algorithm for developing tokens, smart contracts, and Decentralized Applications.
Founder: Alexander Ivanov
Release Date: 6th July 2016
Release Method: ICO.

Special Features of Waves

Own Tokens Issuance

The most important feature of waves platform is that it allows users to create tokens easily without any programming codings. This created tokens can be distributed and utilized for crowdfunding. Companies can also utilize Tokens to pay for products and services within their applications.

No Limit of Trading

The DEX in waves allows for instant trading/exchanges of all cryptocurrencies and also fiat currency. There are no limits in the transactions and also the trading charges are much lower than centralized exchange like Bittrex and Kraken.

Advanced DEX

Waves platform allows for free, peer to peer exchange of cryptocurrencies. More advanced pairing options for cryptocurrencies and other assets are allowed.

Fiat Gateways

Waves have a bidirectional gateway that offers instant conversion of cryptocurrencies and fiat currencies. In waves, it is easy to add funds and withdraw them to fiat currencies from waves wallet.

How does Waves Platform Works?

Waves implement new transaction types through plug-ins on top of the core software as an extension. The useful features included in the core Waves software are as follows :
Custom Application Tokens (CATs)
Decentralized exchange (DEX)
Smart Contracts

Custom Application Tokens (CATs)

The main aim of Waves platform is creating and transferring of custom tokens. Waves allows for creating tokens through the lite client which is available on the web, also in Android and ios platforms. This created token can be sold, traded, exchanged, transacted and bought without a central authority. This customization of token implies that you can represent whatever you want.

Decentralized Exchange (DEX)

DEX eliminates many of the risks and issues associated with the centralized exchange. Since in DEX, the funds are stored directly into the wallet, there is no chance for hacking.In addition, decentralization means no administrator to freeze your funds or limit your exchanges/trades. The one who has complete control of your account is only you.

Smart Contracts

The new features of Waves smart contracts include multi-sig addresses, token freezing, voting, oracles, and atomic swaps. The smart contracts of waves use a new programming language, RIDE.
Unlike Ethereum smart contracts, Waves do not require Gas for smart contract executions. Instead, they charge a minimal, fiat currency.
Originally Published at : Bitdeal

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