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Waves: This Coin’s Supply Goes Up as Its Price Rises

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Wave cryptocurrency

In a simplified sense, Wave is an affordable decentralized platform for creating your own digital assets. Further, these assets are disposed of in one of the ways: they collect funds for a project or exchange new currency with other participants.

Characteristics and features of the Waves cryptocurrency

Initially, Waves was perceived as a less efficient alternative to Ethereum, since it appeared 3 years later than Vitaly Buterin’s project. For example, until 2018, there were no smart contracts on the Waves platform that allow you to control funds without the intervention of third parties.

However, the creators quickly bundled Waves with the necessary options. The platform has its own exchange and licensed fiat gateways, thanks to which users can easily exchange currency for real money.

The advantage of Waves is the maximum ease of tokenization. In other words, creating your own asset does not require technical knowledge and a deep understanding of blockchain technologies if you need to make DOT to KSM convert.

The main pros and cons of currency

Waves was originally created as an alternative to Ethereum, and therefore has some undeniable advantages:

  • Simple to use. The user does not need to be a programmer or cryptocurrency specialist to create a token.
  • Own exchange. On the DEX platform, you can easily exchange personal tokens, digital and fiat currencies, and the transfer fees are low.
  • High speed of work. The blockchain technology on the Waves platform has been greatly improved.
  • Rich functionality. For the convenience of the user, a mobile application and special browser plugins have been developed.
  • An interesting method for mining Waves. Coins are credited as a reward for leasing tokens to other users.

Of the shortcomings, a couple of points can be noted:

  • Custom tokens must comply with legal requirements. At the same time, this nuance is a headache for the project participants, not the owners of the Waves platform.
  • Reduced level of anonymity. Users must verify their identity, however, this reduces the likelihood of fraud.
  • In addition, technical glitches sometimes occur on the platform. So, in June 2018, the site suffered from a phishing attack, but the hackers still did not get to the user tokens.

On April 17, 2019, there was a sharp collapse of the Waves rate on the Binance exchange: the WAVES price fell by 99.9%, and then returned to its previous values ​​within a few seconds. On other exchanges, this phenomenon was not observed, the reasons for the collapse remained unclear.

Conclusion

Waves cryptocurrency is a unique project that is not only a digital currency but also a decentralized platform. On the basis of the Waves Platform, you can create your own assets and attract investor funds.

This functionality provides Waves with a strong position – 49th in terms of capitalization. The creators of all kinds of startups use the platform for their own purposes, and many of these projects are successful.

The distinction between Waves and the more popular Ethereum extends in its integrity and availability for end-users. The participant does not need to have programming skills: tokens are created in a few minutes in the personal Waves wallet.

Mining Waves coins is not a primary task for users; rather, it can be called a pleasant bonus for large investors. From the lease of tokens, the participant will receive approximately 500 tokens per year.

The Waves development team does not stop there and is pursuing ambitious goals. The creators of the cryptocurrency direct their efforts to the creation of decentralized projects and the introduction of blockchain technologies in various spheres of life, economy, and politics.

 

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