update 17 October 2021

The Ultimate Guide to WAVES – Features, Performance, and Tokenomics

As of October 15th, 2021, we have 7.800 existing cryptocurrencies. And, while you’re reading this, more of the surface on the blockchain. In addition, you can discover at least one new, promising project every 24 hours. And, today we look closer at one of these up-and-coming crypto initiatives, Waves.

Read on to discover how this new crypto jumped straight to the 49th position in the market cap hierarchy. Then, find out how it works, if it’s worth the investment, and where to buy WAVES.

What is Waves?

While Waves has entered the spotlight recently, the project has been around since 2016. That’s when Russian physicist Sasha Ivanov launched it as a blockchain platform. His goal was to create a secure and speedy blockchain, even if that would reduce scalability.

Its role is to enable developers to create custom tokens and trade them in its proprietary decentralized exchange, Waves DEX.

Additionally, Waves has a native coin by the same name. Most importantly, WAVES should facilitate various operations on the blockchain. Lastly, similar to Bitcoin, this token has a limited cap supply of 100 million tokens.

Like decentralized autonomous organizations (DAOs), on Waves, the token holders decide the next steps in development. For instance, they get to say who can add new blocks to the blockchain. Also, token holders determine who receives a commission from the transaction fees.

Alternatively, users can pay on the platform with any cryptocurrency. However, they have to pay the transaction fees in the platform’s tokens.

Lastly, users can become full nodes on the network if they pay 1,000 WAVES. However, they can also lease nodes and mine for tokens if they do not have enough coins. Mining on the platform costs 0.002 tokens.


Waves is a decentralized network with public access, making it fully visible to anyone. It supports peer-to-peer (P2P) transactions peer-to-peer free of third-party involvement.

The blockchain currently allows two types of nodes, full ones and lightweight nodes. The former creates a book-like ledger that keeps the entire history of transactions on the platform. On the other hand, the latter depends on full nodes for transaction confirmations and interactions.

On this blockchain, you can create tokens and store them. For instance, the platform’s wallet allows users to store various tokens and safely exchange them into fiat currencies. Furthermore, it will enable users to include smart contracts in their transactions. This mechanism helps ensure that all transactions are safe and efficient.

Smart Assets

Smart Assets is a feature on Waves using a script named Ride. Through it, users can create a Smart Asset with the help of the Issue Transaction feature.

Anyone can launch their tokens after the process completes, but they have to pay 1 WAVES as a minting fee.

The blockchain uses a variation of the proof-of-stake (PoS) mechanism to keep the distributed network in sync. In this regard, it uses a WAVES-NG protocol that ensures fast and safe transactions. And, the language it uses is Scala.

The WAVES-NG protocol assigns blocks to specific nodes. It is a hybrid version of the first protocol proposal for Bitcoin and other industry developments. Its primary role is to split the blockchain into micro and key blocks. Miners create these data units through the proof-of-stake mechanism.

The Project in the Market

Waves launched in April 2016 through an Initial Securities Offering (ISO) and raised around $16 million. When trading started, the cryptocurrency’s value itself reached $1.55.

In December 2017, the token’s price jumped to $16.03, only to drop to $4.5 two months later. Finally, the ATH was in May 2021, reaching the cost of $35.9. At the time of writing, it was trading at around $35.

This is one of the few blockchain projects collaborating with Microsoft. Since May 2017, when their contract started, the project used TestNet nodes with Microsoft’s cloud services.

How to Buy Waves?

Anyone can buy WAVES on popular exchanges like Kraken, Binance, Coinbase, KuCoin, Gate.io, etc. Also, they can do so either via BTC/ETH or fiat currencies.

Apart from the options above, you can also use Coinswitch. This is a crypto trading platform with multiple exchange rates that you can select. Lastly, Waves has its platform where you can buy their cryptocurrency.

Where to Store Waves?

Waves provide its proprietary crypto wallet, where one can also store Bitcoin and Ethereum besides WAVES.

How to Create Tokens with Waves?

Creating tokens on Waves is convenient for most users. In addition, the platform provides a feature to create custom tokens for those with minimal technical knowledge.

Here’s how it works:

  1. Go to exchange or download the WavesLite app.
  2. Choose the Token Creation option and customize your new token.
  3. Then, submit your token for minting.

A few things worth remembering include:

  • Your token will be tradable on the Waves DEX exchange straight away.
  • You require only minimal technical knowledge.
  • Token creation can take place without smart contracts.
  • Token Monitoring/Maintenance is not necessary.

How does the Waves-NG protocol work?

Waves aims to become a solution for users looking for speedy, cost-effective blockchain operations. To reach its objective, the platform has created the Waves-NG protocol.

This consensus algorithm should complete thousands of transactions per minute, and the technology of Bitcoin-NG inspired it. However, the main difference between those two is that the Waves-NG protocol allows selecting the miner in advance. Additionally, it creates a fundamental block with no extra proof-of-work data. Thanks to that, the platform can confirm transactions much quicker.

Another issue Waves-NG wants to solve is its scalability. The network should reach the highest throughput only depending on its current state while ignoring reduced block intervals.

Is Waves Safe?

The team behind the Waves project has been working hard on preventing any form of cyberattacks. To this day, there was not even a single report of a successful attack on Waves. Furthermore, they are constantly coming up with new features that make the platform more “hack-proof.”

The use of the proof-of-stake (PoS) protocol also plays a big part in Waves’ security. By allowing only full nodes to confirm transactions, the chances of attacks drop significantly.

Waves and Monero have something in common. For instance, they both grew large and loyal communities around them by promising anonymity. Also, both make personal data extraordinarily secure and difficult to hack.

A decentralized exchange will never give your details away to third parties. Also, Bitcoin or Ethereum will require you to work with centralized operations when exchanging. However, Waves keeps your details safe and sound.

How to Restore Lost Tokens?

Users can restore Waves depending on how they lost their tokens.

For example, if the digital wallet received damage, you could restore your tokens by reinstalling the backup. Next, you would have to install a new wallet while using the private keys.

Unfortunately, if you sent WAVES to the wrong address, you wouldn’t be able to get them back.

If you lose your private keys, you can generate new ones. And, you can do so by using the seed phrase you saw when you first opened the wallet.

What Makes People Trust this Project?

Waves has over 200,000 followers on their Twitter accounts and around 60,000 members on Reddit. In total, its users create a strong community supporting an alternative to more popular blockchains like Bitcoin and Ethereum.

But why do people choose to invest in Waves?

Top companies have shown their interest in collaborating with this platform. One example is the tech giant Microsoft. Also, Waves has a decentralized exchange. This means that people don’t have to register with personal details to trade.

Furthermore, the platform has a unique ICO offer for businesses. Their network lets you lease your stake and earn tokens without having to send them. Lastly, the proof-of-stake (PoS) model helps to eliminate the danger of split.

WAVES Price Analysis & Prediction

At the time of writing, Waves had a market capitalization of $3,164,882,766. Additionally, it had a circulating supply of 106,442,752.00 WAVES. Lastly, it traded at around $30 and had a 24h trading volume of $130,274,057.

According to its one-year historical data, WAVES may continue to surge long into the following year. Also, as long as Bitcoin and Ethereum surge, projects like it can benefit from extra attention. As a result, it could increase significantly in both value and market capitalization.

Final Thoughts

price change

Waves is a solid blockchain platform with plenty to offer to its users. While it lacks the popularity of Bitcoin or Ethereum, it makes up for it with high-security standards. Further development should see its transaction speed increase significantly. Only time will tell if this network will challenge the market authority of more famous blockchains.

More posts

Top 7 Coins on Binance Smart Chain (BSC) to Watch in 2022

Binance Smart Chain continues its streak of unprecedented growth. Whether it’s token swaps, NFTs, or decentralized markets, BSC supports more than one option to earn significant yield and make the crypto landscape more exciting. Binance Smart Chain is a one-of-a-kind new blockchain with a dedicated environment that supports decentralized and high-performing applications. The cross-chain compatibility of BSC is one of its hallmark aspects. Also, it allows users to reap the benefits of Binance Chain and Binance Smart Chain. But unlike…

Fed Joins BIS Innovation Hub For Research On CBDCs

While Jerome Powell remains cautious of the stablecoin sector, he has big plans for utilizing cryptocurrency technology for American benefit. In a recent statement, he announced a related partnership between the Federal Reserve and the Bank of International Settlements. Together, the organizations will analyze how Central Bank Digital Currencies (CBDCs) can improve the current global financial system. Powell’s Plans For CBDCs The chairman announced the partnership during his opening remarks for the “Introducing the New York Innovation Center Event,” earlier…

Binance Provides “The Inside Story” On DOGE Withdrawal Issues

Following weeks of technical difficulties, Binance has resolved an issue pertaining to Dogecoin withdrawals from their exchange. Today, the company released a statement explaining why the issue arose in the first place, and what it took to resolve it. This comes following a frustrated exchange between Binance and Tesla’s CEOs while the problem was still being worked out. The Inside Story The explanation came in a statement from both Binance and Dogecoin Core maintainers, posted through Binance Blog. What began…

Jack Dorsey Steps Down as Twitter CEO

After over 15 years since founding the company, billionaire Bitcoiner Jack Dorsey has announced his resignation as CEO of Twitter. As of today, the social media giant is led by former Chief Technology Officer Parag Agrawal. Meanwhile, Dorsey will serve as a member of the board until about May, before leaving Twitter entirely. Interestingly, his reasons for leaving are exactly what one would expect to hear from a Bitcoin maximalist. Freeing Twitter From its Founder’s Influence Earlier this morning, word…

Rocky Inu (ROCKY) Officially Launches On Binance Smart Chain

Rocky Inu (ROCKY) is the latest crypto meme project to hit the Binance Smart Chain (BSC) after officially launching on November 28, 2021. The project’s token, which is based on a cute Rocky Inu puppy, crushed BSC during liftoff and set its trajectory to rocket all the way to the moon. Team Rocky seeks to build the healthiest meme coin on BSC that rewards holders and grows the community with charitable incentives. The Rocky Inu project capitalizes on the craze…

Metaverse Frenzy Grips Chinese Investors, Despite Warnings From State Media

Small and medium Chinese investors are "licking the blood on the edge of a knife," when investing in the Metaverse. At least that is what a report in a Chinese state-owned paper claims. Since Mark Zuckerberg announced that Facebook will be rebranding into Meta Platforms, companies have been racing to claim the space. The Metaverse will be a digital space where users can interact with each other and their virtual environment. The tech could revolutionize the way we work, travel…

Bitcoin Bounces Back to $58,000 – Showing Signs of Recovery

Bitcoin started a week with a bang, recovering from last week's selloff, as markets show clear signs of recovery. The price of the largest crypto soared 6% on Monday, reaching a high of $58,000. It has since settled slightly below that level, at $57,750. The jump made up for the last week's dip, prompted by the new, potentially vaccine-resistant COVID variant. Last Friday, Bitcoin dropped more than 9%, trading as low as $53,549 at one point. The sellout was due…

Tripedia Review – Reshaping the Travel Industry through Blockchain and AI

Tripedia aims to leverage blockchain technology to modernize and reduce the centralization of the tourism industry. Blockchain is consistently proving its use and benefits in increasingly more industries. And, rightfully so, many sectors could prosper should they implement this technology. It is the case of the tourism industry, which is struggling with the monopoly of Online Travel Agencies (OTAs). The latter relies on colossal data traffic to take the largest market share and prevent smaller companies from surviving. Through blockchain…

WMA: Bitcoin Dips Closer to $50,000 amid Market Bloodbath

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,435 trillion. Bitcoin is down by almost 9% after a horrible week. Ethereum dropped by almost 7% over the past seven days. XRP dropped by almost 15% to trade again below $1. Almost all altcoins have traded in the red for most of the week. The DeFi sector lost nearly $1 billion in Total…

DYP Launches V2 Staking, Buyback, and Farming Pools on Binance Smart Chain

DeFi Yield Protocol (DYP) – a yield farming aggregator platform – recently announced its new pools for staking, buyback, and farming on Binance Smart Chain (BSC). Each pool is offering remarkably high APRs of 50%, 100%, and up to 1150% respectively.  These pools arrive at a critical moment for DYP, which analysts predict will surge by orders of magnitude in the weeks to come.  DYP’s New Pools According to a company statement, the Buyback pool will allow users to deposit…