Ranked among the top 300 cryptocurrencies with the largest market capitalization, WAVES coin is one of the coins that attracts considerable interest. If you are also wondering what WAVES coin is, whether it’s worth investing in, and what are its strengths, weaknesses, and potential for development, then see the detailed information below.
Contents
- 1 What is WAVES coin and should you invest in it?
What is WAVES coin and should you invest in it?
What is WAVES?
Waves can be beneficial in any use case that requires security and decentralization – open finance, personal identity, gaming, sensitive data, and more.
The Waves blockchain was founded by Sasha Ivanov in 2016 with the aim of creating a new blockchain to address the issues that current blockchain platforms are facing such as scalability, transaction fees, and block creation speed.
Who is the founding team of WAVES?
The executive board of the WAVES Association includes key members such as:
These include:
- Sasha Ivanov: The founder of WAVES, a Russian Tech Entrepreneur who has spent the past decade improving business, banking, and public administration systems to develop electronic payment mechanisms. He is also the founder and CEO of Vostok, Advisor of Tradingene and BANKEX.
- Bram Nagtegals: A talented young entrepreneur and technical expert, co-founder of WAVES and founder of BlackTurtle – A decentralized exchange. He is also the CTO of Sportcash One, owner of BlackTurtleNode on the WAVES platform.
- Sander De Mooij: Owner of WavesAssist, with over 10 years of experience in IT specializing in cybersecurity, security engineer.
What is WAVES coin?
Basic information about WAVES token:
- Blockchain: WAVES
- Trading code: WAVES
- Total maximum supply: unlimited
- Release date: 31/05/2016
- Issue price: 0.1884$
- Circulating supply: 100,000,000
- Market capitalization: $ 109.03 M
- Current price of WAVES coin: $ 1.09
What are the notable features of WAVES?
Smart Contract
WAVES also features smart contracts (Smart Contract) similar to Ethereum with functions like token freezing, Atomic Swaps, Voting, Oracles, and Multisignature addresses but with much lower gas fees and very high speed.
Smart assets on Waves will have higher autonomy, anonymity, and lower transaction fees.
Custom token creation with Waves
The Waves blockchain has a flexible and quick token creation process that allows users without any technical knowledge to create their own tokens.
WavesDEX Decentralized Exchange
The decentralized WavesDEX exchange offers extremely low transaction fees, less than 0.01 USD (0.003 WAVES) per transaction, supports various devices, and allows unlimited withdrawals for cryptocurrencies….
Some of the fiat currencies and cryptocurrencies currently available on the WavesDEX include EUR, USD, TRY, BTC, BCH, ETH, WAVES, ZEC, DASH, LTC, XMR…
Currently, the platform has over 30,000 trading members, with about 600 million USD in investment capital, and the liquidity pool of the platform offers an APY of up to 536%.
Waves-NG Consensus Algorithm
The Waves-NG consensus algorithm enables its blockchain to process “thousands of transactions per minute” and also prevents the creation of forks in the network.
Two-tier Architecture
The two-tier architecture helps Waves overcome scalability issues that Ethereum or Bitcoin are currently facing.
LPoS – Leased Proof of Stake
The WAVES development team describes LPoS as an “enhanced” version of Proof of Stake. Users can lease their tokens to other nodes to help complete transactions and maintain network operations. The leasing rate is about 0.002 WAVES per lease. When a node has 1000 WAVES tokens, it can be created, and those who own node tokens but don’t use them can lease them to pools.
How has the price of WAVES coin evolved?
Let’s look at the price of Waves over the past few months through the chart below:
Select ALL to view the price evolution of Waves from the start of its ICO to the present.
Waves completed its ICO in June 2016, raising over 16 million USD. Almost immediately after the ICO, the price of WAVES dropped sharply by 80% and stabilized around 0.2 USD.
The price of Waves coin hovered around 0.2 USD before rising to 7 USD in June 2017. This increase was attributed to the release of Waves’ roadmap and announcements of partnerships with ICO Hub.
For the remainder of 2017, the price of WAVEs coin gradually decreased before reaching a new all-time high (in USD) of 17.06 USD in December 2017. This price increase was likely formed by the research team’s announcement that Waves would soon become the fastest blockchain in the world. With Bitcoin’s scalability issues, speed was becoming an increasingly important factor in evaluating the value of a cryptocurrency.
Besides the sudden price increases in February and April 2018, the WAVES coin gradually declined and traded steadily around 2 USD. The cause of the February surge is unclear, but it’s assumed that the April rise was due to the deployment of smart contract features.
The addition of custom token generation, decentralized exchange, or new smart contract innovations also had a positive impact on the price.
From 2019 to mid-2020, the price of WAVES coin did not fluctuate much. The price of Waves began its upward trend in July 2020 with steady growth.
Waves coin started 2021 at around 6 USD, then peaked at 35 USD in May 2021, a time when almost all coins were at their peak. After that, the price gradually decreased, reaching a low of 11 USD in July.
Later, as the crypto market rose following Bitcoin’s price, the price of Waves also increased, but the highest it reached was only 32 USD in mid-October before gradually decreasing to about 8.4 USD by the end of January 2022 (a drop of over 70% in just over three months).
The price of WAVES saw an impressive growth of 240% in March 2022 (a spectacular rise) and reached its all-time high of 63 USD due to the transition to Waves 2.0, the creation of a 150 million USD incubation fund, and the positive development of one of its DeFi protocols.
However, along with its rapid rise, the price of WAVES coin also plummeted dramatically, dropping to just 5 USD in July 2022, only three months later (a 92% decrease from its March peak and 67% compared to the beginning of the year).
The current price of WAVES coin is $ 1.09
Should you invest in WAVES coin?
What are the advantages of WAVES coin?
♥ The project has good technology, overcoming the limitations that first-generation blockchains like scalability, transaction fees, and transaction processing speed face.
♥ Features a unique ability to allow users to create their own tokens.
♥ Established a 150 million USD incubation fund to encourage the transition from Web 2 to Web 3.
♥ The ecosystem built on the Waves platform is expanding with Dapps like SIGN Art, Waves Ducks, Swop.fi, Vires…
♥ Owns its decentralized exchange where WAVES coin is used to pay fees, so in the long run, if the number of traders on the exchange increases, the value of this coin will also increase.
What are the disadvantages of WAVES coin?
♦ The price is dependent on Bitcoin’s price.
♦ Fierce competition with numerous blockchain projects created for similar purposes.
♦ Unlimited supply may also make it difficult for Waves to increase in value due to scarcity.
♦ The volatility of WAVES coin is quite large, with times of strong increases and decreases, so investors in WAVES may end up holding at high prices for a long time if they don’t make the right predictions.
Where to buy WAVES coin, which are reliable exchanges?
You can choose to buy/sell WAVES coin on exchanges like Binance, Huobi, KuCoin, Gate.io, Crypto.com Exchange, Bittrex… Among them, Binance is the largest cryptocurrency exchange with the best liquidity that everyone should consider.
Where to store WAVES coin?
WAVES coin storage wallets you can choose include Ledger, Trezor, Math Wallet, Trust Wallet, Atomic Wallet, or the wallet of WAVE Exchange.
– WAVES is a blockchain platform built to address the existing issues of first-generation blockchains like Ethereum, such as scalability, transaction fees, and processing speed.
– Unique features of WAVES include allowing users to create their own tokens and having its own exchange platform.
– The price of WAVES fluctuates with Bitcoin and is highly volatile, implying high risk.
– Currently, you can trade with WAVES on various exchanges, and WAVES is also linked with many types of wallets, making it easy for investors to choose.
See more useful related information:
- What is NEAR Coin? Is Near a good investment & review?
- 15 types of cryptocurrency scams that you NEED TO AVOID!!!!
- What is BAND coin? Is Band Protocol a good investment?
Through this, you must have understood what Waves coin is as well as the features, advantages, and disadvantages of this project. If you have any questions or opinions related to Waves, feel free to leave a comment to get an answer within 24 hours. Wish you success with your investment choices.
