Waves cryptocurrency is a product that adopts blockchain technology, which is here to provide solutions for the use of decentralized applications.
Waves is a multipurpose blockchain protocol that supports a wide range of use cases. Including decentralized applications (DApps) and smart contracts.
Waves were originally built to increase speed, utility, and user-friendliness.
However, in its development, the Waves protocol underwent various changes and added new features to build on the original design.
The original Waves token is WAVES which is designed for standard payments of miners on the Waves blockchain such as block rewards. WAVES tokens have an unlimited supply.
Contents
- 1 What is Waves cryptocurrency?
- 2 What is Waves cryptocurrency used for?
- 3 Founder Waves
- 4 How does Wave cryptocurrency work?
- 5 Current Waves cryptocurrency
- 6 Future of Waves cryptocurrency
- 7 Is waves cryptocurrency a good investment?
- 8 Community
- 9 How to buy Waves cryptocurrency?
- 10 Where to buy Waves cryptocurrency?
- 11 Why is Waves crypto going up?
- 12 Why is Waves crypto going down?
- 13 Conclusion
What is Waves cryptocurrency?
Typically, Waves can be termed as a blockchain platform which is a decentralized place for crowdfunding and tokenized trading. Users can create or create custom tokens. This means users can launch their cryptocurrency which is built on the Waves platform.
Waves is a blockchain protocol built with the goal of a solution for the Web3 project to reinvent the entrepreneurial process around the world by offering a shared infrastructure.
Waves provide an easy-to-use and highly functional toolset. Making blockchain accessible to everyone as well as organizations and enterprises.
What is Waves cryptocurrency used for?
Waves cryptocurrency, is a blockchain protocol that is intended to be a platform for developers to build decentralized applications.
This is an open-source protocol that is one of the solutions to reduce energy consumption which leaves a carbon footprint. Which Waves is supported using a more energy-efficient Proof of Stake consensus.
Application developers can build on the Waves platform for gaming, finance, e-mail, personal identification, sensitive data, and so forth.
Founder Waves
Waves are synonymous with its founder, the Ukrainian-born scientist Alexander Ivanov also known as Sasha Ivanov.
Before building Waves, Ivanov had experience with cryptocurrencies. He released the Coinomat instant exchange and the now-defunct indexing site Cooleindex. Ivanov also created an early version of the stablecoin, CoinoUSD, which is tied to the US dollar.
He often conducts open interviews, to promote Waves and talk about the industry more broadly. Waves employ more than 180 people in locations including Moscow and Switzerland.
How does Wave cryptocurrency work?
Waves is basically a blockchain protocol that uses two different types of nodes (full nodes and light nodes) to run its software.
The node itself refers to a computer device to serves the blockchain network. Waves full nodes keep a complete history of transactions, such as copies of the blockchain data, validating transactions and blocks, verifying signatures and hashes, and synchronizing the data with other nodes.
Meanwhile, Waves light nodes rely heavily on full nodes for transaction confirmation and for interacting within the network. Waves cryptocurrency uses a variation of a proof-of-stake (PoS) consensus mechanism called leased proof-of-stake (LPoS).
There are thousands of nodes in the Wave network spread across the globe, each node holding at least 1,000 WAVES. Nodes in the network to ensure blockchain data is protected, for which participation gets WAVES rewards.
Leased Proof of Stake (LPoS) in Waves cryptocurrency
Waves use LPoS consensus which is an enhanced consensus of the Proof of Stake algorithm.
If on Proof of Stake each node locks the token to qualify as a transaction validator to add blocks to the blockchain.
The greater the number of tokens locked the chances of getting a reward will increase. The difference with LPoS consensus is that, apart from the node having the option of locking coins, it also has the option of leasing out its balance to full nodes.
Nodes that leased tokens to selected nodes will also get a certain percentage of the rewards. To participate in LPoS at least generate a balance of 1000 WAVES.
Waves-NG
The next Waves-NG will decide to generate the next block. Waves-NG solution by splitting the Waves blockchain into two types of blocks, key blocks, and micro blocks.
The lock block records a randomly selected proof of ownership which is then used by other nodes to create multiple micro blocks that include transactions.
Waves-NG solution has an interval of 1 minute between key blocks. and 3 seconds between micro blocks, with a block size of 1 Mb.65535Tx/KeyBlock.200 Tx/MicroBlock, speed 100 Tx/second.
Meanwhile, Waves has a block interval of 1 minute, a block size of 1 Mb.100 Tx/block, and a speed of 1.6 Tx/Second.
Compared with Bitcoin and Ethereum, Waves-NG offers better speed whereas Bitcoin is only 3-7 Tx/Second, and Ethereum 5-20 Tx/Second, both have a block interval of 10 minutes and a block size of 1 MB.
Current Waves cryptocurrency
Waves launched in 2016 and scored an all-time high on March 2, 2022, at $62.36 level price, an all-time low price at $0.1227 level price on August 2, 2016.
The current price of WAVES refers to Coinmarketcap is $9.73 scoring an ROI of 622.08%. The current circulating supply has reached 108,439,120 WAVES. With unlimited supplies. The Waves cryptocurrency market cap is over $1 billion.
WAVES cryptocurrency statistics refer to the official website of Waves.tech, as many as 63 global banks have built on the Waves platform. The value of locked in the Defi project reaches $1.8 billion with 4.6k daily transactions, total transactions of 260 million with an average transaction cost of $0.01, 53% token staked, and 108 million tokens circulating supply.
In the gaming industry, one that uses the Waves protocol is Duck gaming, which is a game that combines NFT collectible and yield farming.
Future of Waves cryptocurrency
We look back at the price history of WAVES. Waves prices are just $0.8, and in the first year of launch, it hasn’t changed much. The new price volatility appeared to have increased in mid-2017 and increased in 2018.
Price volatility returned to decline in 2019 to 2020 and began to appear to increase again in early 2021 to 2022 WAVES managed to form an all-time high price in March 2022.
Waves cryptocurrency protocol is a platform for developers to build decentralized applications. The future of the platform is highly dependent on the adoption of developers in building applications using the Waves platform.
However, the high level of competition in blockchain protocols allows for changing market behavior. Increased adoption can increase the reputation of the Waves protocol.
In a broader sense, the future of WAVES also relates to the trading of WAVES coins on cryptocurrency exchanges.
At the moment the biggest market for trading WAVES is still on Binance, on WAVES/USDT, and WAVES/BTC transactions. Then there are Bithumb, Kucoin, Gate.io, Bybit, Huobi global, Kraken, FTX, Bittrex, Indodax, and many more.
Waves cryptocurrency is traded on many crypto exchanges, allowing transactions of the WAVES coin to occur, is still open in the future, unless the exchange delisting the coin will be bad because it will lose the market.
Is waves cryptocurrency a good investment?
Most investor traders in cryptocurrencies are speculators, buying coins at low prices and selling profits at high prices. This will also apply to Waves cryptocurrency which is inseparable from investor behavior.
Whether waves are a good investment will depend on the value of the Waves coin which is the core value of the Waves protocol.
The risk of investing in Waves cryptocurrency remains there, as we do not know what will happen tomorrow, but can only estimate based on knowledge and signs.
Some forecasting websites believe that the WAVES cryptocurrency will increase in price in the future. Even in 2025, it can rise to a price level of $40 from the current price of $9.72.
Whatever the outcome will be whether the prophecy ends correctly or otherwise, it will be certain after we meet the time in the future.
Community
The role of social media in the development of various business platforms is very important to support a solid community. Waves cryptocurrency has social media communities on Twitter, Telegram, and Medium.
On Twitter social media, @wavesprotocol joined Twitter in March 2016 and currently has 242.6K Followers. The Waves community on Telegram has 26,954 subscribers.
The latest news updates about Waves can also be found in @wavesprotocol on Medium. following the latest news can provide information on the development of Waves’ business and its adoption on the blockchain network.
How to buy Waves cryptocurrency?
- How to buy WAVES cryptocurrency the first is to find an exchange that provides WAVES coins. You can compare transaction fees and the availability of supported payment methods and exchange locations to find criteria suited to your circumstances.
- Next, you register on the exchange to get started. Email address is required, name, address according to identity card, and so forth.
- After registering then verify the account to comply with KYC and AML rules. This requires some of your personal documents and a selfie holding the original ID card.
- The next step is the funding account. You can choose a supported payment method, perhaps wire transfer, Visa, Mastercard, or any cryptocurrency available for the funding account.
- If your account has funds, then go to the marketplace and find the WAVES coin on the exchange platform. Some may support WAVES/USDT, WAVES/BTC, or WAVES with local currency.
- Maybe you need to buy other crypto assets first before enabling to buy WAVES, say you deposit with USD fiat currency, while the Waves marketplace is only available WAVES/BTC. First, you buy BTC with USD, then buy WAVES with BTC. This is indeed charged more transaction fees. But if there is no other way, that is the easiest way.
Where to buy Waves cryptocurrency?
Where to buy Waves cryptocurrency, you can find by searching on Coinmarketcap. Go to the Waves coin page on Coinmarketcap. Scroll down you will find a selection of information data related to Waves cryptocurrency. Overview, market, project info, wallet, news, social, ratings, analysis, and price estimates.
Click on “market” and wait for the page to load completely, you will find out which exchanges trade Waves cryptocurrency. But if you are in a hurry, some of the exchanges below might be your consideration for buying Waves cryptocurrency.
Binance
On the Binance exchange, you can buy WAVES with BTC as well as USDT, USD, BUSD, ETH, TRY, and so forth. On the exchange, Binance became the main exchange with market dominance controlling 13.66% of the WAVES/USDT market with a volume of over $157 million
Bithumb
The largest transaction on the Bithumb exchange was on WAVES/KRW and the second exchange with the highest transaction volume with over $26 million in WAVES cryptocurrency coins with moderate confidence.
Kucoin
The transaction volume of the Kucoin exchange is on WAVES/USDT with a transaction volume of more than $17 million with a high level of confidence.
Gate.io
The largest Gate.io exchange transaction volume was on WAVES/USDT with a volume of over $14 million, slightly below the transaction volume of the Kucoin exchange with a high level of confidence.
Indodax
Indodax is an Indonesian local exchange, this is an exchange that is officially registered with the Indonesian Financial Services Authority with a high level of confidence. The transaction volume of WAVES/IDR is over $261K.
Why is Waves crypto going up?
Typically, the price of WAVES increases because there is an increase in trading volume as a result of high demand for the coin. As to historical data, WAVES experienced an increase in transaction volume in March 2021 from $1.2 billion up to $1.5 billion.
There is no definite reason, but allowing the listing of coins on an exchange can increase transaction volume. In addition, the adoption of the network can also increase the transaction volume of the Waves cryptocurrency within the Waves environment which allows the coin value to increase.
Forecasting sites may also have a role to play in the fluctuations in the price of crypto coins. Some investors may take references from forecasting sites to help their investment decisions. It can increase the volume of transactions if the forecast for crypto coins is good for the future.
Why is Waves crypto going down?
The price of WAVES hit an all-time high in March 2022 at $62, but then dropped to as low as $34 in just a matter of weeks, the Waves cryptocurrency lost 30%.
Waves founder Ivanov took to Twitter to submit a new governance proposal for Waves, which may be the reason for the drop in prices. The new governance aims to prevent price manipulation.
This action became Ivanov’s move after he claimed some parties wanted to make Waves drop, he accused Alameda of manipulating prices to profit from high price rates to make money.
Get your popcorn ready: @AlamedaResearch manipulates $waves price and organizes FUD campaigns to trigger panic selling.
I hope I caught your attention. Follow me.
— Sasha Ivanov 🌊 (1 ➝ 2) (@sasha35625) April 3, 2022
Ivanov’s tweet may not be the only reason why the Waves dropped. Geopolitical tensions resulting from the Russia vs Ukraine war had an impact on the cryptocurrency market. When Bitcoin drops, most other crypto coins fall, and WAVES is one of them.
Conclusion
WAVES cryptocurrency is still a crypto asset in the top 100 on Coinmarketcap, as of writing this coin is ranked #54 out of thousands of other coins.
Some crypto speculators may like volatility, trying to take opportunities to buy low and sell high. For developers of decentralized applications, the Waves protocol may be an alternative solution as a multipurpose interoperability platform.
Note: this article is for informational purposes only and is not advice or solicitation of investment. Forex, crypto, and CFD market is risky. Each investor is responsible for their investment.
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