Waves Platform

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Waves Platform logo

Waves Platform is a cryptocurrency project launched by the Russian entrepreneur Alexander Ivanov in 2016. The blockchain platform launch campaign raised $16 million, becoming one of the largest in terms of funds raised through crowdfunding. In June 2017, the Waves platform reported the integration of the dollar payment gateway into the Lite Client, which allows users of the wallet to replenish the account in US dollars.

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DescriptionEdit

Wavesplatform - Ride on Waves

Waves Platform is a crypto currency analogue of the Kickstarter crowdfunding platform. The platform allows any user to issue a cryptographic token for less than a minute, and to raise funding through a crowdfunding campaign. Users can interact with the platform using the Chrome application or downloading the full application and launching it from their computers[1].

DEX Decentralized ExchangeEdit

Waves opened DEX, the first decentralized exchange in history, which allows users to trade any pair of tokens without conducting a transaction through an intermediate currency. It takes a few milliseconds to approve the transaction.

DEX works faster and safer than traditional cryptocurrency exchanges. The work of the exchange is provided by the matcher nodes, which connect the seller to the buyer for a commission, and then fix the transaction in the Waves blockchain.

Technical SpecificationsEdit

The platform operates on the basis of the Leased Proof-of-stake mechanism, which is a modification of the Proof-of-stake consensus. LPoS is released on MainNet, which allows any user to transfer their technical capacities fo[[mining and receive rewards at the same time increasing network security. To provide security, the classical encryption with a public key is used.

Tokens can be converted into both phiatic and cryptocurrency, as well as into tokens of other projects[2].

How Waves Platform works?

Types of tokensEdit

In addition to the tokens released by users themselves, the Waves Platform has its own tokens, the Waves coin. The Waves Coin is used for every operation that is performed on the platform.[3] This includes:

  • transferring assets
  • withdrawing assets
  • trading assets

Community TokenEdit

Community token is a tool for crowdfunding campaigns launched on the Waves platform. Owners of tokens gain auxiliary income by constant distribution of assets of the platform. The Community Token is in the process of implementation and will be finally launched after the full technical formation of the Waves platform.

Miner Reward TokenEdit

The Waves platform members, who support the work of its blockchain network-miners, receive a monthly reward to their account in Tokens of the MRT miners ' reward. Starting from the award amount of 50 MRT in March 2017, every 50,000 blocks the miner reward amount will decrease by 5 MRT. In order to become a miner, the user must have a minimum effective balance of 10 000 WAVES on a personal account in the system.

The lpos consensus suggests the possibility of earning income from mining without the need to participate in mining activities. The holders of token Waves can transfer your balances miners on loan.

Miners can receive their rewards from several sources of income:

Commission from transactions within the platform, paid out in Waves. Payment transaction commissions tokens other projects, released in Waves. MRT token can be traded on the open market.

External linksEdit

See alsoEdit

ReferencesEdit


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