Waves is a cryptocurrency token based on a blockchain network. It was launched in June 2017, by Alexander Ivanov. The purpose of Waves’ creation was to develop an advanced network that will allow users to exchange digital assets without an intermediate.
How does Waves work?
Waves platform allows everyone to sell, buy and exchange their own cryptocurrency tokens on a real-time marketplace. A user can produce his own digital token in less than one minute.
The tokens bought with cash will be defined as wUSD or wEUR on your profile. You can exchange or transfer them between users. The Waves platform replaces the banks. It is easier and faster to transfer money through a digitalized software than through a traditional bank transfer. You can even exchange Bitcoins into digital fiat currencies. These will be defined as wBTC.
For your transactions, you will need a specific wallet. You can download it as a browser extension or as a phone application. The wallet is created especially for making the user’s process simpler. It has a friendly interface, it’s fast and you can customize your tokens.
You can buy or sell tokens on Tidex and Bittrex platforms. At the moment, there are 5.312 tokens issued and 149.171 wallets created.
The Advantages of Waves blockchain
– It’s not a must to install the blockchain on your devices. You just need a Waves Wallet;
– Your tokens will be proceeded in less than one minute;
– You can pay for your transactions in tokens currency. The fee is 0.001 Waves per each transfer;
– Even if you are a beginner or not, Waves will be easy to use;
– The Waves platform is decentralized, transparent and is an auditable network;
– You do not need an intermediate to help you with the transactions;
– There is a high speed guaranteed for your transfers;
– Only the user can check its balance account in real time. Nobody has access to someone’s tokens.
The Disadvantages of Waves blockchain
– It can be a barrier for beginners, but you will need 10.000 Waves in your wallet to start mining. Otherwise, it is not a problem if you want to create an account only for transfer services;
– The Waves’ website will be soon centralized, but do not worry about the platform. The designer assures us that blockchain will remain decentralized;
– You should read carefully the regulation of the Waves blockchain and stay updated with the changes that might appear.
Waves platform is an interesting cryptocurrency network. Everyone can create their own digital tokens in less time. In almost 2 years of existing on the marketplace, Waves has already met the success. It created business partnerships with Tokenomica and Upcoin – two cryptocurrency platforms.
The designer of Waves network is encouraging the startups to invest fiat currency into the digital tokens system. It’s up to you if you invest or not in this kind of token algorithm. Make sure you put in balance all the strengths and weaknesses before your decision.
To stay updated with fresh news, follow the Waves official website.
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