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What is Waves? How to buy and use it

What is Waves?

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Waves is a decentralized exchange, wallet, and blockchain network that facilitates cryptocurrency creation, trading, and swapping.

Additionally, the Waves protocol supports smart contracts, and users can build and release unique crypto tokens using the Waves blockchain.

Waves makes it possible to create and exchange cryptocurrency tokens without writing lengthy smart contract codes. Instead, on the Waves blockchain, tokens can be produced and managed by scripts that run in user accounts.

Who Are the Founders of Waves?

Sasha Ivanov, an entrepreneur in technology, invented the Waves blockchain in 2016. 

At that time, Ivanov founded Waves Platform AG, a for-profit organization with a Moscow headquarters whose mission was to spearhead and finance the development of a new blockchain network.

What Makes Waves Unique?

Waves is unique because, in contrast to most blockchain networks, it does not offer block rewards to its miners. In contrast, individuals who verify and relay transactions on the Waves blockchain (full-staking node operators) are compensated with all transaction fees associated with the block as well as a bonus token known as the Miners’ Reward Token (MRT).

Miners’ Reward Token (MRT), the native token of the Waves platform, is issued to full-staking nodes as payment for their efforts securing the network.

For the first 70 blocks they mine (per day), nodes receive 60 MRT, and for each additional block, they receive 30 MRT. You must have 1,000 Waves or more to join the Waves network as a full-staking node.

Waves chose a leased proof-of-stake system because it can minimize latency, enable blocks to be added to the blockchain more quickly, and provide a network with improved system throughput overall by decreasing the number of nodes that can produce blocks.

How Many Waves is in Circulation?

With a live market cap of USD 243,152,669, CoinMarketCap now ranks #106. There are 109,975,198 Waves coins currently in circulation.

How Is the Waves Network Secured?

Waves utilize a blockchain, a decentralized ledger that powers most cryptocurrencies. This is protected by a cutting-edge consensus technique called Leased Proof of Stake (LPoS), simply a modified version of proof of stake (PoS). 

It enables users of lite wallets to contribute to block validation by leasing their WAVES tokens to mining nodes. 

A light node is a kind of bitcoin wallet that does not require downloading the complete blockchain, in contrast to a full node.

How can crypto investors use waves?

Complex decentralized applications (dapps) can be created and launched using the Waves platform and tailored to almost any use case.

The protocol aims to support as many as a thousand transactions per second, which is crucial for DeFi apps with numerous users and frequent tiny transaction volumes.

The Waves protocol aims to make it possible for owners of WAVES tokens to earn a passive income by staking their tokens.

The Waves ecosystem seeks to offer a single point of entry and multiple tools, technologies, and components to simplify the creation and administration of DApps.

Where to Buy Waves?

Waves is among the more established altcoins and is already a currency that can be bought and sold on well over 100 different exchange platforms. These include:

FAQ

Is Waves a public blockchain?

Yes, A global public blockchain network called Waves was established in 2016.

Are Waves decentralized?

Waves is a collection of free, open-source, decentralized applications (DApps) that let users invent new coins.

Is Waves coin a good investment?

Yes. Long-term, Waves has good potential.

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