Waves

What is Waves (WAVES)?

Waves is a blockchain designed to allow individuals to make and launch their own custom cryptocurrencies.

Moreover, users can create tokens and trade with them without having to deal with exhaustive smart contract programming. Instead, tokens are produced and managed through scripts that function within users’ accounts on Waves.

Origin and Development

Waves’ origins can be traced as far back as 2016. During that same year, it was able to raise approximately $22 million in an ICO (initial coin offering) for its native token, WAVES. Two years later, in 2018, the team behind the blockchain integrated smart contract functionality, which finally allowed third parties to create dApps (decentralized applications). Then, in 2019, the team started to market another version of the blockchain specifically made for institutions, known as Waves Enterprise.

Foundation and Current Status

The foundation of the Waves blockchain can be attributed to the entrepreneur Sasha Ivanov. Moreover, the same year the blockchain was launched, he established a for-profit firm known as Waves Platform AG in Moscow. 

And now, in recent years, according to what it claims, it has acquired user wallets numbering over 2 million and a more vibrant community existing throughout successful projects like WavesDucks.com, Waves.Exchange, and Vire.Finance, among others.

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How Waves Works

Let’s take a brief look at what makes the Waves blockchain work, i.e., the components integral to its functionality.

Main Architecture

Its primary architecture contains two distinct node types: full and lightweight nodes.

Full nodes maintain an entire history of transactions, whereas lightweight nodes need these full nodes to confirm transactions and interactions in the Waves network.

Consensus Mechanism

To maintain the sync of its decentralized network, the Waves blockchain utilizes a variation of the PoS (proof-of-stake) consensus mechanism known as LPoS (leased proof-of-stake).

With LPoS, nodes can essentially lease their balances to full nodes for block validation processes.

Token Creation on Waves

With Waves, users can create tokens within minutes by just completing some fields like token supply, token name, etc., and creating them costs only a single WAVE token. Following that, the token will be listed automatically on its exchange and can be traded with the other tokens it supports.

Smart Contracts on Waves

On Waves, smart contracts tend to be assets and accounts containing assigned scripts that are written in Ride, which is a programming language that is domain-specific and used within the development of dApps, emphasizing developmental ease and security. Consequently, the three types of smart contracts on Waves are smart accounts, smart assets, and dApps.

Advantages of Using Waves

Here, we will be discussing some of the potential benefits that you may come across when dealing with this blockchain or what it attributes to itself.

Speed and Scalability

The Waves blockchain claims to be highly scalable, with its team stating that it is on track to become one of the fastest in the space, with a TPS (transactions per second) rate of thousands.

User-friendly Interface

Navigating the Waves network and its ecosystem can be a relatively straightforward endeavor and shouldn’t take you that long to get the hang of.

Lower Transaction Costs

According to its own website, the average cost per transaction sits at $0.002, which is quite affordable.

Custom Token Creation

Token creation on this blockchain can be a rather simple process. In other words, anyone can create their own custom tokens easily.

However, do note that, because of this, you will need to be particularly wary when investing in the tokens on its platform, as finding ones that will be relevant to you and not potential scams may be hard.

Community and Ecosystem

Here, we will be diving a bit into its community, the users, and the developers, and finally the partnerships and collaborations it has under its belt.

Waves Community Engagement

Community engagement can be fostered primarily through its own DAO (decentralized autonomous organization). Waves claims that protecting and respecting the decisions of its community fall under its primary commitments and that the engagement its community brings forth is necessary for its evolution and growth.

Developer Support and Resources

The Waves IDE, which is the online environment it has set up for its developers, has a library filled with tools and code samples that can enable the creation of accounts and the sending and signing of transactions, among various other things, all of which can extend beyond simply that Ride support. In other words, Wave IDE is representative of the support that developers have when creating applications on this blockchain.

Partnerships and Collaborations

Like other blockchain projects, it has collaborated and partnered with various other protocols or projects, with one of the recent ones being Allbridge, which is a token bridge protocol. The partnership saw Waves’ integration with the 15 blockchains the bridge protocol supports, including the likes of Ethereum, Solana, and the Binance Smart Chain (BSC).

WAVES Token

We will now be directing our attention toward its native token, WAVES, and discussing the roles it plays within its ecosystem, along with tokenomics and allocation, and whether or not it has any potential as an investment on its own.

Roles and Utility

The WAVES token is tasked with the maintenance and operation of the entire network. It is used in the creation of new tokens, for paying fees, and as a means to determine who can validate and integrate new blocks, among other uses.

Distribution and Allocation

Speaking of allocation, in the WAVES token’s initial allocation, 85% of it was allocated to token sale participants, 9% to the development team, 4% to backers and strategic partners, 1% to post-ICO bounties, and finally the remaining 1% to its early supporters.

Supply and Demand Dynamics

As for supply, its maximum supply does not seem to have a fixed cap, but its total and circulating supplies are both at 100 million tokens.

Its market capitalization and fully diluted valuation, on the other hand, are both around $151.78 million. And finally, its daily trading volume is slightly over $12.7 million. According to CoinGecko, its market rank is currently at 183, which means that it isn’t even within the top 100. In other words, it is a bit far when compared to its competitors.

Investment Potential

Besides what has already been mentioned about its market rank, a quick look at the token’s price chart will show that its value has been unable to rise or recover from the recent bear market within the cryptocurrency sector.

In other words, sentiments for this token may remain bearish, and investing in it for the sole purpose of value accrual may not be a good idea.

Guide to Buying WAVES Token on Binance

If what has been highlighted has piqued your interest in this blockchain and you are looking to buy the WAVES token, then we will discuss how that process can be carried out on Binance.

Registration Process

If you haven’t already made an account on Binance, then that can be done by clicking the link below and utilizing the Coin Labs referral code. Once there, enter appropriate information within all the fields that you will find there, such as ones for your email address and password, for instance.

KYC Verification Procedures

Once you’re done with the registration process, KYC should come next. So, navigate to its verification page and go through the procedures that are asked of you, which will likely involve entering some personal information and providing the documents to back that up, which may be separated into two distinct processes.

Two-Factor Authentication (2FA)

Now, onto 2FA. Start by going to Binance’s security page and clicking on the appropriate option. Binance will then outline a handful of simple instructions, like downloading its authenticator app, etc., which you can easily go through to set up 2FA for your account and ramp up its security.

Funding Your Account

Funding your account will entail depositing some funds, which can be done on Binance’s deposit page. Once there, select the token you want to deposit and the network for it. This should produce a deposit address corresponding to whatever you have chosen. Next, paste this address into the exchange or wallet from where you wish to make the transfer.

Navigating and Executing the Trade

Following the deposit procedure, you can now finally move on to buying those WAVES tokens. And on Binance, you will be presented with numerous options for doing so. The simplest to go through and probably the quickest as well would be its convert feature, where you just swap whatever your current deposit is for WAVES. Other options will include spot or futures trading, which, however, may take a while if you plan on executing orders through those options.

Storing Your WAVES Token

Now, the final step would be to simply transfer the WAVES tokens you have just bought to whatever wallet you’re currently using. And that can be done through Binance’s withdrawal page. Once there, simply select the WAVES token and the network for it, paste your wallet’s address within the relevant field, and then confirm your withdrawal.

Future Outlook of Waves

Now, what might the future look like for a blockchain like Waves? Let’s delve a bit into that below.

Predictions and Speculations

Waves has been in the process of transitioning to what it calls Waves 2.0, which is considered to be a significant upgrade over its existing infrastructure.

However, it seems that the process has seen a few delays, and whether or not the transition has been fully made is unclear. Still, once it has, its future may hold some promising prospects and will likely see even more integrations and offerings for its users, all of which might even positively impact its native token’s worth.

Conclusion

Waves was built to improve upon earlier blockchains and similar products. It therefore strives to provide its users with a variety of decentralized applications and smart contracts, all while toning down on the extensive nature of their programming, thereby simplifying the process of creating tokens.

We Coin-Labs.com provides only objective information about Waves.
Therefore, we are not responsible for the investment decision in Waves and the resulting loss.

Waves Basics

Here are some factors that investors should consider before investing in Waves.

Cryptocurrency Features	Waves (WAVES)
Publisher or Developers	Sasha Ivanov
Headquarters (Registration Number)	Moscow
Symbol	WAVES
Platform	leased proof-of-stake blockchain
Published Date (CMC Registration)	2024-11-01
Max Supply	No limit

Reliability Score of Waves in 2024

These are indexes mesuring the investment reliability of Waves conducted by Coin-Labs.com.

Investment Reliability Rating Items	Scores and Current Status
Company Activation Rate	/ 10.0 CAR
Communication Rate	/ 10.0 CR
Technology Transparency Rate	/ 10.0 TTR
Development Participation Rate	/ 10.0 DPR
Listing Status on the World's Top 10 Exchanges	Listed on 8 Exchanges
Number of Available Pairs Worldwide	294 Pairs
Market Cap of the Cryptocurrency	232,168,156 USD (Rank #187)

The table above shows the result of investment suitability evaluation for Waves.
Check out how we evaluate cryptocurrencies on the crypto rating description page.

Waves Price

Here are the price and recent trading volume of Waves. (Data of 2024-11-02 00:35:00)

Price Items	Price and Trading Volume of Waves
Waves Price	0.989 USD
Price Change 24h	-1.37%
Price Change 7d	-8.55%
Trading Volume 24h	11,627,431 USD
Trading Volume Change 24h	13.97%

Cryptocurrency Metadata

You can check the development status and social media information of Waves through the links in the table below.

Metadata Source	URL
🌎 Official Website	https://waves.tech/
📖 White Paper	https://docs.wavesprotocol.org/en/
🛰️ Source Code (GitHub)	https://github.com/wavesplatform/
🐦 Twitter	https://twitter.com/wavesprotocol
🤖 Reddit	https://reddit.com/r/Wavesplatform
🎺 Message Board	https://forum.wavesplatform.com/

Where to Buy Waves

Here are the top ten world crypto exchanges where traders can buy Waves in 2024.

Top10 Exchanges	Listed Status	Page URL
Binance	Listed	https://www.binance.com/en/trade/WAVES_BTC
Coinbase	Not listed
Kraken	Listed	https://pro.kraken.com/app/trade/waves-usd
KuCoin	Listed	https://www.kucoin.com/trade/WAVES-BTC
Bitfinex	Listed	https://trading.bitfinex.com/t/WAVES:USD
OKX	Listed	https://www.okx.com/trade-spot/waves-usdt
Huobi	Listed	https://www.huobi.com/en-us/trade/waves_usdt?type=spot
Bitstamp	Not listed
Bybit	Listed	https://www.bybit.com/trade/usdt/WAVESUSDT
Gate.io	Listed	https://www.gate.io/trade/WAVES_USDT

Frequently Asked Questions