Waves cryptocurrency in the digital economy

To stabilize the cryptocurrency market, a multifunctional platform is needed that can combine the functionality of the exchange and various applications. The NXT developers started to create such a project in 2014. The resulting product was named Waves.

What is Waves?

Waves is a blockchain platform with its own cryptocurrency of the same name and a decentralized cryptocurrency exchange DEX. Waves blockchain platform allows you to create, exchange and transfer fiat or own assets. The platforms altcoin maintains low volatility, so it can be used as a convenient means of payment when making purchases and paying for services.

The Waves cryptocurrency was developed from scratch, its platform is based on the original blockchain. International financing, not tied to individual private investors, ensured currency independence. Platform crowdfunding transmits encrypted messages and coordinates communities.

The development of a new cryptocurrency is based on the already famous NXT. Experienced specialists from the NXT team developed Waves as a more convenient and independent currency. Today, the young cryptocurrency occupies a confident 55th place in the global ranking. The market capitalization of Waves is USD 86 million.

To launch the cryptocurrency, 100 million tokens were issued and distributed among the ICO participants. Waves are not mined using a computer, but are purchased from the main owner of the node, that is, it is a system for generating passive income. Currency can be transferred, exchanged with a minimum commission (the share of the commission is less than a cent per transaction).

The platforms user-friendly interface can be regarded as another advantage of Waves. It is as simple as possible, its control is available at an intuitive level. The platform was designed mainly for foreign investors, so it was published in English. The developers promise to fix this and supplement the platform with other languages.

During the development of the platform, special attention was paid to the availability of the wallet. It is adapted for Android, Windows, Linux, Mac OS platforms. In addition, other cryptocurrency wallets can be used for payments.

The history of the emergence of Waves

The Waves project emerged relatively recently, four years ago. The creator of the cryptocurrency, Alexander Ivanov, developed the program according to the already familiar system. The experience of creating NXT allowed us to release a more sophisticated and simple currency to the market. For a quick and cheap exchange, Alexander launched the service even before the platform itself appeared in 2016.

As a functional system, Waves uses the LPoS platform. With the new cryptocurrency, businessmen have the ability to independently create analog cryptographic stocks, which allows them to engage in trading. The triumphant procession of the project began recently, but has already attracted about USD 16 million in the crowdfunding campaign, which is equal to 30,000 bitcoins.

The relevance of the idea and the combination of innovative technologies made Waves the best ICO three years ago. A year after entering the cryptocurrency market, Waves had a market capitalization of over USD 500 billion. This fact did not escape the attention of Forbes magazine; the possibilities and prospects of the project were described in an article published in September 2017.

Currently, there is a decline in the popularity of cryptocurrency, if in 2016 the rate was 1.9 USD, now it is about 0.9 USD. According to experts, this is a good opportunity for long-term investment.

Is Waves popular?

Today Waves is considered a promising cryptocurrency for long-term investments, and since the rate is now quite low, you can take the opportunity and replenish your wallet.

The dynamics of the currency gives hope for positive changes. More and more cryptocurrency users are switching to the new and convenient Waves platform, the program can be installed on any device with support for major operating systems.

The platform works primarily for launching new projects and trading, the presence of its own currency in Waves is secondary. Many people use the platform for capital investments, passive income, storage of personal savings. Even if the exchange rate falls, investors can earn without risking anything and doing nothing, for this there is a leasing system. When renting out their coins, the user receives interest, albeit small amounts, but in their own way a stable income. You can revoke coins at any time.

What is Waves for?

Waves is an opportunity to use cryptocurrency functionality based on an open blockchain platform. The new platform itself issues currency and allows you to exchange all types of cryptocurrencies.

By the balance of the token, users can independently generate blocks and select them. Mining is not available to an ordinary user, only full NODs have such powers (a user who has 10 thousand or more coins on his account). To create a block in a chain, the number of GCDs is limited.

To ensure that the block chain does not change, classical encryption is applied using a public key (the key should be kept secret).

As a blockchain, Waves technology is a continuation of the bitcoin cryptocurrency, but the cryptocurrency itself is fundamentally different from bitcoin and has undoubted advantages:

currency versatility;
high transfer speed at the lowest transaction cost (but perhaps this is only temporary);
simple and accessible code;
the ability to issue your own currency.
However, the Waves technology also has disadvantages:

difficulties in transferring money from a bank card to the account, a high percentage for the transfer, ruble cards are not supported;
a rather complicated transfer of funds to the account using another cryptocurrency with the subsequent exchange for Waves, however, the operation is carried out without interest;
there is no Russian-language support for online communication with investors;
an ordinary user can only lease a cryptocurrency, while the income is only 0.2-0.5% of the invested funds every 16 hours.
two-level protection, 15 random words and a 12-16-digit password are used for the code; if the access code to the funds is lost, it will be lost.
the password and security system seem to be reliable, but users noted unpleasant situations with accounts (Waves reserves the right to freeze accounts in the gateway if there is any suspicion of illegal actions until the circumstances are clarified; precautions are necessary for the platform, since its main goal is cooperation with the governments of other countries).

Waves transactions

Transactions on the Waves platform are carried out according to three scenarios:

by confirming copyright;
by confirming the uniqueness of the file;
by providing data for smart contracts.
The data transaction function on the Waves platform is limited in file size, for example, the size of a text document to be sent should not exceed 140 Kb, and the size of the transaction fee directly depends on the size of the transferred file.

Waves cryptocurrency transactions are carried out at a high speed, while the blockchain platform guarantees low fees for carrying out payment transactions within the system.

Waves Outlook

The cryptocurrency market is not stable, and it is impossible to predict the exact state of affairs on the exchange, but there are still general trends. Despite the instability and controversy, Waves is popular and shows good dynamics.

The simplicity and versatility of the platform can bring a good income. You can buy a coin on any leading exchange, it is better to use a cryptocurrency for a purchase, and a huge interest is charged for a transfer from a card.

Various sources speak of hundreds of thousands of transactions per second, but the reality is not so rosy, the true figure is 100 transactions per second, but this is an excellent indicator.

Whether it is worth investing in Waves is up to everyone personally, the dynamics show good prospects. The platforms functionality is expanding, new applications are being created, all important news are available.

The value of the coin indicates the sufficient stability of the platform. Today, there is stagnation, the program is waiting for updates and expansion of functionality, which requires new investors.

If we talk about the forecast for 2020, then a smooth rise in value is expected at the beginning of the year. In any case, when investing in Waves, the risks are minimal; this is a pretty good way to keep your savings, gradually increasing your fortune. NODs receive a good income, but, as noted above, to reach this level, you need to have $ 50,000 in cryptocurrency.