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WAVES
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Waves
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About Waves

The price Waves today is 15.89 USD, and the trading volume in 24 hours - 107,197,965 USD. The crypto asset has grown by -4.73% over the day. Currently, the coin’s market capitalization is 1,681,097,540 USD, and has 105,790,078 coins in circulation with the max supply of 105,790,078 coins WAVES.

What is Waves? 

Waves is a multi-purpose blockchain platform that supports a variety of use cases, including decentralized applications (dApps) and smart contracts. Launched in June 2016 after one of the first initial coin offerings (ICOs) in the cryptocurrency industry, Waves initially sought to improve the first blockchain platforms by increasing speed, utility, and usability. 

The platform has undergone various changes and added new additional features based on its original design. The Waves native token is WAVES, an unlimited supply token used for standard payments such as block rewards. 

Who are the founders of Waves? 

Waves is synonymous with its founder, Ukrainian-born scientist Alexander Ivanov (also known as Sasha Ivanov). Prior to the creation of Waves, Ivanov was already active in the field of cryptocurrencies, having launched the now-defunct instant exchange Coinomat and the indexing site Cooleindex. He also created an early version of the CoinoUSD stablecoin, pegged to the US dollar. 

Ivanov actively promotes Waves, often giving interviews about the platform and trends in the broader blockchain industry. According to Waves ' marketing documentation, the company currently employs more than 180 people in various regions, including Moscow and Switzerland. 

What makes Waves unique? 

As one of the first offerings in its field, Waves set out to improve early blockchain platforms and products. From the very beginning, it was aimed at attracting potential business customers who want to use the blockchain to improve processes or create new services. 

Waves supported the development of smart contracts and dApps, ensuring that speed and ease of use surpassed the competition at the time. Since then, other products have emerged, including Gravity, cross-chain and oracle network, and the Neutrino platform focused on decentralized finance (DeFi). 

Waves DEX is a decentralized cryptocurrency exchange. In 2020, Waves announced that its platform would interface with the Ethereum network, issuing the WAVES token as a standard ERC-20 asset.

How many Waves (WAVES) coins are in circulation? 

WAVES started as a fixed-cap token for the Waves platform with 100 million tokens available. In its ICO, which raised 30,000 BTC, 85% went to sales participants, 4% to partners and supporters, 9% to developers, and 1% each to early backers and reward schemes that occurred after the ICO. 

Its usefulness increased over time, and in 2019 it was decided to remove the supply restriction, and decision-making was transferred to the network participants. Currently, the block reward is 6 WAVES, and any changes occur in the form of votes-users must choose whether or not to reduce the block reward by 0.5 WAVES every 110,000 blocks. 

There are more than 104 million WAVES coins in circulation.

How is the Waves network protected? 

Waves uses a modified bet proof algorithm called wavesng. The technology is based on Bitcoin-NG, a scaling proposal by well-known Bitcoin advocate, Cornell University developer Emin Gun Sirer. 

Waves emphasizes that its code is open source, which provides greater trust and ease of maintenance than closed-source enterprise blockchain solutions.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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