Today we will be taking a look at a prospective cryptocurrency platform with tokens called Waves. It is the main competitor of Ethereum.
The Initial Coin Offering (ICO) on the Ethereum platform has some difficulties:
• The complexity of the development and launching of ICO;
• Lack of the possibility to accept the fiat currencies (dollar, euro) as investors’ contribution;
• Due to the huge popularity and mass claims-processing of transactions, the Ethereum platform starts to fail. Now developers are actively solving this problem.
Characteristics and special features of cryptocurrency
During the Waves ICO, which took place in 2016, the project managed to attract 30 000 BTC, equivalent to 16 000 000 USD at that time. As a reward for purchasing tokens during the ICO, investors were given bonuses – from 5% to 20% of additional coins depending on the time of purchase.
The official site of cryptocurrency is wavesplatform.com. Emission is 100 000 000 coins and the capitalization at the time of writing of this article is approximately $ 1,349,310,000.
Advantages of Waves compared to Ethereum are as follows:
• To create your own token it is enough to download the official wallet and pay a commission of one coin Waves. In comparison with the Ethereum platform, the ICO procedure is significantly simplified. And it applies both companies and private individuals. It is important that the Waves token is attached to any currency, USD, BTC or CNY. All this was made possible due to the introduction of innovative technology gateway network.
• To invest in ICO on Ethereum, you need to convert fiat money into Bitcoin or Ethereum, and only after that you can make a contribution. The Waves platform allows you to invest directly, avoiding additional commissions.
• The Waves system allows you to process many more of transactions per second than Ethereum. In addition, the platform is not subject to destabilization in case of high loads.
• All transactions with cryptocurrency based on Waves are implemented by means of a decentralized peer-to-peer exchange (WDEX), which serves as a kind of alternative to centralized exchanges.
How to buy Waves?
You can buy coins via the WDEX service, which is integrated into the light client of the official wallet. Also, cryptocurrency is traded on EXMO, Bittrex, LiveCoin and YoBit.
It is recommended to use a Light Wallet in order to store the Waves cryptocurrency. The entire blockchain will not be downloaded to the hard disk, where will store only user information. It is optimal for both security and convenience. The official wallet can be downloaded at the GitHub website.
The wallet is a plugin for the Chrome browser. After downloading the archive from the GitHub site, you need to unpack it and run the index.html file. After that the SEED phrase for the wallet will automatically generated. It is necessary to save it.
Next you need to create a password and confirm the creation of a new wallet – it will immediately appear in a top line. Now, using password, you can always get into your wallet, and with the help of the SEED phrase it will possible to get into your wallet from anywhere and from any computer.
Opportunities with Cryptocurrency
Wave’s developers have extensive plans for the near future:
• Activate option of smart contracts;
• Implement the multisignature function;
• Binding token to the fiat money;
• To start your own decentralized messaging service.
Waves continuously working with regulatory bodies, licensed financial companies and law firms, so that the project’s cooperation with business structures of different levels will be transparent and efficient as possible.
The goal of Waves is to offer partners a stable platform for solving various tasks and the main direction is tokens production for ICO.