The Waves platform belongs to the world leaders in the blockchain industry and is one of the pioneers of Web 3.0. Since its founding in 2021, the mission of Waves has been to build a blockchain ecosystem that allows solving real problems in a variety of areas.
The Waves team is developing tools to create a decentralized technology segment that will become the basis of Web 3.0 – the digital landscape of the future. Waves provides everything you need for backend development of Web 3.0 services, including an intuitive and user-friendly UX for end users, including IDE, code plugins, nodes, oracle manager, APIs (DEX, Data Services, Node, Auth, Payment, Waves Keeper), libraries and explorers (testnet, mainnet, PyWaves).
The concept of Web 3.0 implies the inviolability of the privacy of users and the control of the Internet community over large organizations. A new stage in the development of the Global Web clearly demonstrates the evolution of technology and the emergence of Web 3.0, opens the door to the era of decentralized systems.
Distributed registry technologies affect the Internet, and changes in the structure of the World Wide Web require the modernization of existing and the creation of new cryptoplatforms. One of the pioneers in this area is the Waves project, a cryptocurrency and toolkit for developing applications and decentralized Web 3.0 solutions.
The Waves team also developed RIDE, a special programming language for creating smart contracts and decentralized applications on the blockchain platform.
In April 2021, the DEX decentralized exchange, a fast and secure tool for trading popular cryptocurrencies, was successfully launched. At the end of 2021, the Waves-NG protocol was activated, providing unprecedented throughput, while validating each transaction takes no more than a few seconds. In March 2021, an update to the RIDE programming language for dApps was released, allowing developers to create full-fledged Web 3.0 applications on the Waves blockchain.
Where is the best place to buy WAVES? TOP-5 exchanges
For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals in rubles, hryvnias, dollars and euros.
The reliability of the site is primarily determined by the trading volume and the number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, as it has the largest turnover of funds and supports transfers in rubles from bank cards Visa/MasterCard and payment systems QIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
Rating of cryptocurrency exchanges:
Binance (Editor’s Choice)
Criteria by which the rating is set in our rating of crypto-exchanges:
Reliability — stable access to all platform functions, including uninterrupted trading, deposit and withdrawal of funds, as well as the duration of the market and daily trading volume.
Commissions – the amount of commission for trading operations within the site and the withdrawal of assets.
Additional features and services — futures, options, staking, NFT marketplace.
Reviews and support – we analyze user reviews and the quality of technical support work.
User-friendliness of the interface – we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
Final score – the average number of points for all indicators, determines the place in the ranking.
Features and characteristics of the Waves platform
The founders of the Waves cryptocurrency believe that the introduction of blockchain technologies will go faster and cover more areas of human activity, provided that the following problems are solved:
Blockchain’s primary mission of enabling the transfer of value through the “tokenization” of digital assets is often overshadowed by other considerations such as focusing on smart contracts. The Waves platform makes it easy to buy and sell various digital assets on crypto platforms, no matter which fiat or cryptocurrency dominates in any part of the world.
The platform includes the Waves decentralized exchange (DEX), which allows you to exchange digital tokens for Waves coin or any other token created on this platform. DEX supports the exchange of digital currencies for fiat currencies such as US dollars or euros.
Blockchain must be scalable and decentralized. To improve network throughput, Waves uses the Waves-NG protocol, which reduces block creation time and the likelihood of unnecessary forks.
Smart contract mechanisms should be optimized to work with different assets. The Waves platform offers to simplify this task with a special smart contract language called RIDE, which allows you to create categories such as “smart assets” and “smart accounts“.
Waves aims to be a one-stop solution for a variety of blockchain use cases. It is based on the “colored coins” method, which involves the management of real world assets through their association with addresses on the blockchain. Tokens created on the basis of Waves can be linked to fiat currencies and other real assets such as bonds, intellectual property, stocks. The Waves architecture allows third-party developers the flexibility to create and execute new types of transactions in an environment reminiscent of the app stores that most users are familiar with.
The creation of custom tokens means ease of settlement, as the tokens are customized according to the needs of users and investors participating in the ICO. They can be used as a stake in a decentralized voting model or as part of a ranking system. And also when launching a customer loyalty program or discounts with rewards. For example, Burger King customers were able to receive one Whoppercoin token for every ruble spent in restaurants.
At the beginning of 2021, the project team integrated a new version of the Waves 1.3 protocol with an expanded set of tools for working with decentralized applications. The platform launched the Waves Ducks blockchain game, the main characters of which are unique digital pictures of ducks, made in the form of non-fungible tokens. Buy duck eggs, share them with other players, collect and breed ducks to get a unique and very valuable digital item that will bring you tangible profits in the future. You can read more about this game on the official website.
According to the developers, the Waves blockchain project should work for the benefit of the entire blockchain community, that is, ordinary users who are interested in distributed ledger technology. They laid out their ideas in a short manifesto. Let’s list them point by point:
Waves cryptocurrency is not a hype, but a serious digital product with a wide range of practical applications. At this stage of the formation and development of the crypto industry, its main purpose is to process all kinds of crowdfunding projects.
Waves developers should support other promising blockchain startups, and not focus on promoting an internal cryptocurrency.
Traditional financial structures will continue to perform their functions in the future, but only on the condition that they actively implement innovative payment technologies and become more transparent and open.
Decentralized networks should play a leading role in the global financial system.
Distributed registries should be widely implemented in all spheres of human activity, including government institutions.
Acting as a cryptocurrency crowdfunding platform, Waves allows any verified user to issue their own digital currency, raise funds by selling it to other people, and exchange the new asset for Waves tokens. All new tokens that have become public can be verified using the official blockchain explorer WavesGo. The Neutrino protocol enables stablecoins backed by the underlying cryptocurrency of the ecosystem and other synthetic assets.
Coins created on the basis of the platform can be exchanged through a decentralized service. Waves Exchange (formerly Waves DEX) is a fast and secure decentralized marketplace for assets running on the Waves blockchain and other supported cryptocurrencies. The Waves token is used to pay for all transactions performed on the platform.
Waves forecasts for 2021, and for the next 3 and 5 years up to 2024, vary depending on who makes them and how. It is difficult to say which of the price predictions voiced is more correct, therefore, for the sake of completeness, it is worth citing several popular scenarios voiced today on the Web.
Forecast based on technical analysis
One of the popular services on Wall Street that makes forecasts based on technical analysis believes that the cryptocurrency chart demonstrates the situation of the classic Pump and Dump. Based on this, and ignoring fundamental factors, it is assumed that the rate will continue to fall. By the end of 2021, the price of the cryptocurrency is expected to decrease to $0.05, and then further down to $0.00001.
However, holders and potential investors should not be upset, because there are more positive estimates.
Experts who base their predictions on Waves on historical data and use a combination of polynomial and linear regressions believe that the coin will soon enter a growth phase and expect the following prices:
by the end of 2021 – $ 5.6;
by the end of 2021 – $ 7;
by the end of 2021 – $ 8.5;
by December 2022 – $ 9.9.
If you believe this forecast, then in less than 4 years you can get a 350% return on investment, which is already quite good.
Experts from another popular digital asset forecast service on the Web consider Waves a highly undervalued asset, believing that according to the most conservative estimates, the coin will reach $7.8 in 2021, $14 in three years, and $20 in 5 years.
This forecast can be called a weighted average, because it takes into account a variety of factors, issuing an average value based on them.
There are also bolder forecasts, according to which Waves will cost $50 before the end of 2021. They are given by crypto enthusiasts who expect that cryptocurrencies will take away a share from the stock, commodity and other traditional markets, pulling the capital of investors to themselves. Such predictions cannot be discounted because they are more than real, and the only obstacle to their fulfillment so far is the lack of regulation. However, positive changes are already noticeable in this field, so if the SEC makes a positive decision on ETF funds, it is quite possible to expect explosive growth in the cryptocurrency market, and this will also drive the value of the Waves cryptocurrency to new heights.
Remember: investing in cryptocurrencies comes with a lot of risk. because the behavior of assets in emerging markets is unstable. Therefore, be careful, control risks and keep in mind that the forecasts voiced indicate possible scenarios for the development of events, but do not guarantee their execution at all.
Calling Waves the next digital currency would most likely be wrong. The team presents its development as a blockchain system with certain functionality. This is such a platform based on blockchain technology, de for transactions with custom tokens. It supports fundraising, crowdfunding campaigns and the purchase/sale of financial instruments, with all operations carried out through a distributed database.
When the team was still working on the idea (and the team, as we have already noted, has solid experience in this area), among other issues, the task of preventing a number of shortcomings inherent in already existing crowdfunding solutions was also solved. This meant the volatility of tokens and the lack of options when it comes to ways to raise funds. As a result, the new project allows users to attract investments in their developments both in bitcoins and in the currencies we are used to (dollar and euro), and, of course, in Waves tokens.
The concept of the site allows users to create tokens and determine their value. This innovation is especially important for the development of ideas based on crowdfunding. In addition, when making payments in one currency, and the addressee’s account is opened in another, thanks to the innovation from Waves, problems with commissions will be greatly simplified.
And another direction of the platform that is interesting for many is services for exchanging cryptocurrencies for fiat money with low commissions.
“Light client” is a plugin for the Chrome browser. The developers promise that right from the browser it will be possible to launch your own project co-financing company, as well as use decentralized markets. Assets created by users will be available for trading on the project’s own exchange.
There is a lot in common with Kickstarter, while a share in the project can be obtained in a digital, crypto-protected form, with the possibility of transferring it or selling it to other users. At the same time, exchange trading is anonymous (just like on a regular exchange, traders anonymously place orders “in a glass”).
At the same time, the creators of Waves promise that trading in shares and similar financial instruments using the platform will not cause claims from regulatory authorities. Support for assets linked to fiat currencies is already reminiscent of Ripple. Although it is expected to be tied to assets denominated in cryptocurrency.
Thus, users get a decentralized platform for:
Trade in various goods;
Joint financing of projects;
Exchange speculation in assets, fiat money and cryptocurrencies.
Messaging between participants and voting will also be decentralized. Implementation of new features is expected through plugins, which allows you to get away from the practice of creating “hard forks”. The reputation of users is implemented through a “karma” system that takes into account user reviews, the number of transactions, and other blockchain activity.
The founders of Waves worked to create a community token, a tool used in crowdfunding campaigns launched on Waves. This token acts as a stimulator of long-term storage of finances in the system, as investors have the opportunity to receive some income due to the distribution of their assets on the platform. It is still under implementation. Its launch is planned after the final formation of the platform.
The community token is planned to be distributed among account holders no later than 9 months later. Exchanges are not taken into account. The plan is to make a distribution in the middle of each month based on a snapshot of the remaining funds in Waves. In the first month, 20% of the assets will be distributed. In the following months, the distribution will take place at 10%. The work of community tokens is aimed at increasing the volume of holders’ assets.
Voting is planned for the future. This is the next step in the community token promotion. The person who owns the token gets the right to take part in voting for the project he likes, which significantly increases its value. Over time, screening will appear. This will increase user interest in the development of the Waves community.
Waves project team
Alexander Ivanov, CEO and founder of the Waves blockchain system. A graduate of Moscow State University with a degree in theoretical physics, a postgraduate student at the University of Leipzig. He has experience in developing virtual payment networks and neural systems for making forecasts in financial markets. Worked in the NXT blockchain project. He created one of the first exchangers Coinomat, a fiat token CoinoUSD and an exchange index of digital currencies Coinoindex, as well as a venture capital fund Cryptoasset.
Leading specialists of the project:
Maxim Pertsovsky — Chief Operating Officer. Graduate of the Farminers Project Academy. Founder of the Green Garage platform where “technology meets art“.
Philip Eryushev — head of marketing department. Responsible for developing digital expertise for network users and conducting advertising campaigns.
Artem Kalikhov — head of the technical department since December 2021. Works in the field of IT technologies since 2009. Main responsibilities: architectural design, product management, HR department.
The project management provides financial, technical and marketing support to developers creating solutions on Waves. The network is focused on hosting dApps, and currently it is the most promising segment for the mass introduction of blockchain technologies.
History of the WAVES Blockchain
The platform was created in March 2021 by Russian entrepreneur Alexander Ivanov, based on the popular NXT project. Like many modern crypto projects, it entered the market thanks to ico crowdfunding. The WAVES team managed to raise about 30,000 bitcoins.
Even at the stage of the birth of the Waves resource itself, its team collaborated with the major crypto-wallet service Mycelium. Its leader (A. Kuzmin) acted as a guarantor at the stage of crowdfunding. Transactions use the Mycelium electronic wallet, which simplifies and speeds up the distribution of coins.
The following agreement was made with the Australian company BitScan Pty.Ltd. The document concerns the development of the Incent network. Whose essence boils down to the fact that each user himself sets the amount of commission when making a transfer waves. The main goal of the project is to minimize commission costs when conducting m / s transactions with digital and fiat funds. Also, the wave cryptocurrency is collaborating with the American BioViva, which is exploring the possibilities of slowing down the aging process of the human body.
It functions due to the updated Proof-of-stake – LPoS model. The new model is notable in that users of the “wave” network can lend their coins to full nodes on a leasehold basis in exchange for a portion of the mining profits. At the same time, the right to return your funds at any time is reserved. At the time of publication of this material (see date), the capitalization of the altcoin was $210,457,000, and the market value was $2.
Waves is a highly regarded member of the cryptocurrency ecosystem. This allows any user to launch their own digital token in less than one minute and then trade that digital token as a cryptocurrency asset.
Although Waves only launched in 2021, the platform has already been home to many success stories including Tokenomica and Upcoin.
Stay tuned for more information as startups continue to use Waves to introduce tokens into the digital economy.
The creators of the Waves resource outlined their vision of the modern financial world and the interaction of its various branches in a kind of 7-point manifesto.
They pay special attention to the decentralization of services and interaction with financial institutions, especially banks:
In the first paragraph of their appeal, the authors of the project emphasize that they did not try to fill a niche for cryptocurrency fans, but created a product worthy of becoming the main product of the future.
Further, we are talking about the fact that developers have nothing against banks and do not want to confront them. Their main task is to make banks work for society, to become more open to new technologies.
Mass introduction of blockchain technologies is possible only with decentralization. The main goal of the project is to take the crypto mainstream.
The authors also emphasize that it is wrong to perceive blockchain technology in terms of money, it is rather a business relationship, equal and transparent.
The created platform focuses on crowdfunding projects and, according to the developers, should become the final destination for processing open projects.
The Waves service does not issue a new currency, it presents new opportunities for existing ones.
And finally, the team is sure that interaction with existing financial institutions is simply necessary, as this is the way to change and improve them. At the same time, we are not talking about revolutionary, but about rapid evolutionary changes.
This is such an appeal. Agree, quite ambitious. However, time will tell how true the words will be.
Prospects for development
The stable growth of the exchange rate and the wave capitalization indicator allows us to make a favorable forecast. Due to the opportunities provided by the platform, the WAVES cryptocurrency has good development prospects.
Thanks to the crowdfunding platform, investors and promising projects are attracted to the platform. Anonymous trading and multi-currency with low commissions are very attractive for business.
The developers are full of energy and ideas for improving and refining the platform, they regularly delight the community with news about new projects in conjunction with WAVES. Since the platform works not only with cryptocurrencies, but also with fiat money, interaction with banking organizations is planned.
Risks in the model
Having a number of advantages, this platform was not without some risks, however, like any other resource in this area.
These risks can be divided into 3 groups:
The first is technical risks like bugs, which, in general, are present in almost any computer program, but in our case they cause a drop in the value of tokens, which is not very cool. This type of risk is inherent in the model itself.
The second group is associated with such a widespread phenomenon on the Internet as fraud. Eliminate these risks completely, unfortunately, impossible. But it can be completely reduced if you apply the KYC assessment system to projects hosted on the resource. True, it should be noted that there are practically no successful attempts of fraud in relation to investors in cryptocurrency projects, because they trust their money only to those people who have earned a positive reputation and have long been known in their environment.
And the third group is legal risks. Here, in order not to get into trouble, it is necessary to competently approach the assessment of the model and find out how it complies with the laws of a particular country. Sometimes you have to choose countries with more loyal jurisdiction.
CryptoGram — who are they?
CryptoGram offers to buy the GRAM token created for the TON blockchain network. The company’s website appeared in September 2021. There:
no legal information;
only one way to contact – technical support email: firstname.lastname@example.org;
used stolen images and videos dedicated to the Gram token, created by the team of Pavel Durov for the TON blockchain network.
SMARTGUIDE Comment: An organization that provides financial services should give access to legal information. Anyone who does otherwise is a swindler. You can’t discount the fact that many crypto exchanges hide contact details. You need to remember: everyone who does not tell is cheating.
The Waves ecosystem initially ran on the Proof-of-Stake (PoS) consensus algorithm. But, later, the developers released a modified LPoS (Leased Proof of Stake) protocol.
In classic PoS, to participate in mining, each user must store a certain amount of tokens on the official wallet. The LPoS algorithm used by Waves makes it possible to lease the balance of the wallet to the full nodes that are responsible for the health of the network. Miners form balances at the expense of other users and deduct part of the profit for this.
You can either run a full node on your PC or lease coins to other users. Full nodes in the Waves system process transactions and generate new crypto blocks. The “thicker” the miner’s wallet, the more likely it is that he will be trusted to create the next block.
Leasing does not mean transferring funds to the node wallet. The coins remain with you, you just need to activate leasing and select a miner.
Income depends on the efficiency of the full node. You can terminate the lease whenever you wish without the consent of the node and give the funds to another mining operator.
Asset rent reward can be paid both in WAVES coins and other tokens issued within the platform.
LPoS has a minimum personal balance threshold of 1000 WAVES, you can raise additional funds by running a pool.
Since all Waves coins are minted, miners only profit from processing financial transactions. Accordingly, the amount of payment to the lessor of funds depends on the number of transactions included in this block.
The Waves-NG protocol, developed on top of Bitcoin-NG, reduces transaction latency and increases throughput without sacrificing network security. The scalability problem is solved by continuously managing the block during the continuous mining process. The liquid block epoch is extended until the next key block is created, allowing micropayments to be processed without delay.
Thanks to Waves-NG, the system can withstand increased loads during Airdrop and ICO. The protocol concept is based on the division of blocks into two types:
The Waves-NG chain structure is formed as follows:
The node is allowed to create a new block.
Key Blocks are generated. The volume of the key block is minimal, it includes only the miner’s public identification key, which is necessary for the formation of microblocks.
The miner processes transactions and includes them in microblocks, which are generated every 3 seconds. Each of the blocks has a header that contains the cryptographic hash of its predecessor.
Microblocks are created until the next Key Blocks referencing the liquid block is released. After validation, the microblocks are merged with the keyblock and the new block is displayed on the Waves explorer. The generation period of Key Blocks is 30-60 seconds.
When trying to double spend, the miner loses the reward, and the commission is transferred to the node that discovered the attacker. In addition to full nodes, there are also master nodes in the Waves blockchain. They are designed to make transactions over an encrypted channel. The list of public hosts is available via the REST API.
The WavesFX wallet is intended for installation on a computer. Its functions are to store and make transactions in the “wave” cryptocurrency. With it, you can also trade on the stock exchange. Waves wallet FX is a lightweight version of the wallet. By installing it, you will not be able to directly participate in mining.
To download the full node. follow the link and follow the instructions of the developers.
As an alternative wallet, the developers suggest using SIGN. This web application only works in a browser with the Waves Keeper extension installed. Available for Chrome, Firefox, Edge and Opera. Waves coins also support Ledger hardware safe of any modification.
To start using the browser version of the Waves wallet, you need to: