WAVES — Will it dethrone Ethereum ?

July 9, 20180

WAVES — Will it dethrone Ethereum ?

Waves is an open-source blockchain platform, developed, marketed, and operated by Waves Platform AG. Currently trading on Huobi, It is designed in a way to allows users to create, transfer and exchange blockchain tokens on a peer-to-peer basis in a single multi-currency wallet. Once the envisioned smart contract feature is enabled it can be a real challenger to Ethereum in the coming future.

Recently Waves was in the limelight for the partnership with Deloitte CIS .The partnership is aimed at providing clients with comprehensive initial coin offering (ICO) services and customized blockchain solutions tailored for specific business tasks. This was considered to be a significant step towards mass application of blockchain technology as it will help not only Waves but the entire Blockchain Industry to be a part of regulatory landscape

Orgins

Founded in 2016 by Physicist Sasha Ivanov, the project was inspired from the Nxt blockchain project, upon which Ivanov had built decentralized businesses such as Coinomat, It was funded as a crowdsale held in April and May 2016 . During the crowdfunding it collected more than $16,000,000 in USD which in those times was the second-largest successfully crowdfunded blockchain project.

Waves was officially launched as a decentralized network with the release of full nodes in November 2016. The launch also included the release of token creation facilities, allowing developers to build their own blockchain-based applications

 

Product Overview

Waves platform uses Proof-of-Stake algorithm delivering around 1,000 Trx/second. This transaction speed was achieved using Waves NG Protocol . The protocol excludes any possibility of creating forks, whilst significantly speeding up network’s throughput and cutting time for the creation of a new block

Waves-NG — a next-generation consensus algorithm based on Cornell Computer Science academics Emin Gün Sirer’s and Ittay Eyal’s Bitcoin-NG proposal — makes the platform even easier and faster.

Waves-NG is the first blockchain to adapt the Bitcoin-NG proposal, which was designed to address Bitcoin’s scalability issues by turning it into a proof-of-stake consensus. In Bitcoin-NG, the protocol is, instead, forward-looking: every 10 minutes, NG elects a leader, who then vets future transactions as soon as they happen. The former is necessarily limited by the block size and block interval, while the latter approach can run as fast as the network will allow.’ This approach has been adapted to Waves’ proof-of-stake model, theoretically enabling hundreds of transactions per second.

WAVES Wallet

The Waves Wallet is the official wallet for the Waves Platform. Currently in development, the Waves Platform will allow users to issue, transfer and trade assets. The wallet has a built-in decentralized exchange platform that can be used to exchange assets, cryptocurrencies and fiat tokens.

WAVES Decentralized exchange (DEX)

The Waves Decentralized Exchange is a decentralized market inbuilt in Waves Wallet, where users can trade waves-based assets, including Waves, Waves Assets, fiat tokens and cryptocurrency tokens like wBTC and wETH. On the WavesDEX, users can trade with no counterparty risk as all operations take place on the Waves blockchain itself ensuring that no trust is required.

Token Issuance

Waves helps individuals the ability to make their own internal digital currency, while also using the blockchain for crowdfunding. Users may also use the blockchain to pay for goods and services, or for the creation of voting systems and loyalty/rewards programs.Thus far, a rough total of 11,489 tokens have been released on Waves, with a total market capitalization of more than $1 billion

WAVESGO

WavesGo is the official Waves blockchain explorer. With Waves, anyone can create digital tokens to represent real or virtual world assets, and exchange them in the Waves DEX (Decentralised Exchange).

Team

Lead by Founder & CEO Sasha Ivanov majority of the team members were once a part of NXT project. Based out of Moscow Russia, the team has got a good mix of talent and is delivering as well

Project Roadmap

Unlike most of the other crypto teams, Waves team was successful is delivering most of the Promised road-map so far.

One of the most expected development in Waves ecosystem is the deployment of Smart Contracts which will enable Waves to directly challenge Ethereum

The Waves smart contracts will include account and token controls, which will provide functionality to implement features such as multi-signature wallets, atomic swaps, 2-factor authorization. The team also plans to introduce what they call “Data Transactions”, a way to post Oracle data to the blockchain all within the smart contract code.

The Waves Smart Contracts, which anticipate toppling Ethereum’s ascendancy in the field of Smart Contracts, will include the following beneficial features

  • Support for multi-signature wallets
  • No gas for non-Turing complete smart-contracts
  • Easier and cheaper alternative to the Ethereum counterpart
  • Faster distribution and expeditious trades
  • Provisions for atomic swaps in the future
  • Options for token freezes
  • Support for Dapps and other decentralized applications.

Future of Waves Platform and Token

Currently valued just $2.83 per coin, Waves (WAVES) is currently the 42nd most valuable cryptocurrency by market capitalization. Recently it was listed in one of the most traded platforms Huobi (BTC/ETH pair) which makes it an attractive buy looking at the future release of Smart contracts which will make it a direct threat to Ethereum

The expected increase in price may also be explained by positive developments including:

  1. Ability to purchase $WAVES and $BTC with a credit card
  2. Improved UI in the Buy/Sell window
  3. Smart contracts

One of the other factors that makes Waves a wonderful buy is the airdrops. Unlike other crypto Waves always provides its token holders attractive airdrops is some of it which can bought back for BTC by the Waves team in their DEX.

All you have to do is buy Waves from a reputed exchange like Huobi then transfer the tokens to Waves wallet.Simple as that.

In conclusion, the Waves Platform is positioning itself to be the clear leader in the decentralized exchange marketplace. They are however, not without competition and innovation will be the key to their long-term success. In addition, If Waves are able to address the challenges of over diversification and a clear plan and executing successfully on that plan toward mass user adoption the investment in Waves can be a clear winner for a long term HOLD

So what are you waiting for ???

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