The token facilitates the creation of digital assets and dApps by users. It is the native token of its blockchain. It is popular due to its low transaction fees and gasless transactions similar to the Energi blockchain. The coin enables Initial Coin Offerings and crowdfunding on its protocol. It benefits from the blockchain's Leased Proof of Stake to earn its holders passive income from leasing it. Miners earn the coin as a reward for successfully generating a block.
Briefly about Waves
Sasha Ivanov created the coin in 2016 with over 16.4 million USD of BTC in its ICO and propelled it to be amongst the top global cryptocurrencies. In 2020, it received recognition in the Ethereum blockchain as an ERC-20 standard asset. The coin facilitates Initial Coin Offerings and enables users to create their Custom Application Tokens(CATs). These tokens are tradeable on the WAVES exchange with its native token. It supports smart contracts to develop various Web 3.0 dApps through Ride. Ride is a developer-friendly programming language compared to Ethereum blockchain's Solidity. The blockchain's Leased Proof of Stake allows the coin to assist full nodes in mining. Nodes require a minimum of 1000 WAVES coins to mine. The higher the stake the higher the chance of processing a block and receiving the native token as a reward.
Waves coin enables a world of NFTs, DAOs, and other new business models.CryptoLists.com
It is the utility token of its blockchain. The blockchain requires the coin to facilitate various payments and create and launch custom crypto tokens by users. It requires them to create and manage scripts on the blockchain using a straightforward developer-friendly programming language, Ride. These created tokens are tradeable on the WAVES exchange with its native token. The coin also offers crowdfunding for Initial Coin offerings on the blockchain. It supports several community-based projects on the blockchain. The coin enables the Leased Proof of Stake where holders lease it to owners of full nodes that add blocks to the blockchain. The nodes receive mining rewards through the native token with owners of leased tokens earning a percentage of their award.
Utility of Waves?
The token processes transactions on its Exchange as users pay fees in WAVES coin. Users who mint their custom tokens or issue their dApps have to pay a service fee using the native cryptocurrency of the blockchain. It requires 0.004 WAVES coin to execute scripts written in the Ride programming language. The script creates Smart Assets tokens that launch from user accounts for 1 WAVES coin. The coin also facilitates Initial Coin Offerings(ICO) on its blockchain. The coin funds all tokens issued on the blockchain. Stakers must also have nodes with a minimum of 1000 Waves coins to start mining. The more coins you have, the higher probability of processing an upcoming block and receiving the transaction fees in WAVES coin as a reward. The current block reward is 6 WAVES coins. Owners of the token can participate in the block validation process by leasing it in a lease transaction to lite mining nodes. They earn a certain percentage of miners' rewards when leasing to them. Holders of several coins earn passive income by leasing them. Miners have an incentive to maintain and develop the blockchain network infrastructure.
Waves Price details
›› WAVES tokenomics and social media
Advantages at Waves+ Holders of the Waves token can lease it and earn passive income.
+ It enables the creation of Custom Application Tokens and trade on coin's exchange.
+ Waves enables decentralised trading & crowdfunding through an Initial Coin Offering.
+ It incurs low transaction fees and latency at 100 transactions per second.
Disadvantages- Waves coin competes with an established ICO leader of the Ethereum blockchain.
- Waves is still an emerging token causing some investors to resist it.
- Waves is yet to achieve widespread adoption hence has low liquidity.
- The crowdfunding functionality is saturated in the market with competitive players.
Costs▪ Rated at 10/10
There are no gas fees for developers of apps like the Ethereum blockchain. It only applies a 0.003 WAVES coin as a flat rate fee for a buy or sells trading order. The rate applies regardless of the amount on any future deal. There are no deposit fees for the token while the withdrawal fee varies with the exchange. Users utilise 1 WAVES coin to create custom application tokens. Nodes incur 0.002 WAVES coin to lease the coin on the Leased Proof of Stake.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9/10
The token has been critical in the blockchain aligning with its roadmap. The WAVES NG upgrade enabled a much-needed higher transaction speed of 100 transactions per second for the coin. Many crypto enthusiasts are impressed with the coin's functionality for users to create their crypto and trade on the WAVES exchange. The WAVES explorer and RIDE enable crypto beginners to understand the coin's ecosystem without many technicalities. Ride supports gasless smart contracts with the native token. The token has advanced the release of over 4000 tokens on its platform. The number of WAVES coins locked in the protocol has impressively grown to over 80 million. The token had its community buzzing when Binance added the WAVES/TRY trading pairs. It has earned a significant reputation while listing notable dApps and projects such as Neutrino, Swop.fi, Waves Ducks, Puzzle Swap, Vires.Finance. Recently, there has been concern on online forums about a hold on withdrawals on the coin's protocol. Sasha Ivanov has acknowledged a liquidity crunch due to several accounts on Vires.Finance overextending the protocol's loan capacity. These accounts are close to default.
What are the requirements for staking the token?
Holders of the token require 1000 waves coins to run a full staking node. Nodes with a higher stake have a higher chance of generating a block.
What does leasing the token involve?
Holders benefit from the Leased Proof of Stake (LPoS) by leasing the coin to full nodes for staking. When the node is selected to generate a block, they receive a portion of its reward.
Where to buy the native token?
The coin is widely tradeable in several exchanges including: