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Highlights
- Waves protocol facilitates decentralised applications and smart contracts
- It utilises a modified proof-of-stake algorithm, and its code is an open source
- It has begun its migration to Waves 2.0 to enhance speed and aid interoperability
Making a debut in 2016, Waves is an open blockchain protocol designed for supporting DApps and smart contracts and is focused on raising the security, reliability, and speed of IT systems.
Do Read: What is Waves crypto and why is it shining?
Source: © Vladsseven | Megapixl.com
Know more about Waves
Waves was founded by Alexander Ivanov, a Ukrainian-born scientist. Its network makes use of WavesNG, an improved proof-of-stake algorithm. Also, it boasts its code being an open source, thereby allowing enhanced trust and the ease of maintenance than closed source enterprise blockchain solutions.
The network is known for its scalability, i.e., it boasts delivering extremely fast transactions with extremely low costs. As per the website, Waves' platform processes 55.K daily transactions and the average cost per transaction is US$0.013.
Moreover, the crypto aims to be eco-friendly with a minimum carbon footprint with the least amount of carbon footprint.
The platform has undergone various changes since its inception. In February 2022, Waves started its migration to a new iteration of the blockchain, Waves 2.0, which will speed up transactions as well as aid in the interoperability with the Ethereum network.
Further, it intends to launch an incubation fund running into millions as well as a separate DeFi fund. It is noted that the said incubation fund is for encouraging the move to Web 3 from Web 2.
Also Read: Wanchain, Waves- 2 most popular cryptos this week at Easy Crypto
Know the price of the WAVE token
At the time of writing, the crypto was down 0.62% over the last 24 hours and was priced at US$13.19. It has a market cap of over US$1.4 billion.
Currently, there are 108.2 million WAVE coins in circulation, while the maximum supply is unavailable.
Where to buy Waves crypto from?
The crypto is widely available on numerous exchanges like Binance, EXMO, YOBit.net, KuCoin, Gate.io, Kraken, FTX, and Huobi, among others.
Related Read: 6 tips to guide you with your first crypto investment
Bottom Line
With the advent of cryptocurrency, investors who are seeking to diversify their investment portfolios are enticed by these new-age digital currencies. However, due diligence and thorough research must be undertaken while venturing into the crypto space, which is extremely risky and volatile.
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