Cryptocurrenices have been with us from the 2009, with the introduction of Bitcoin. However since 2009 a lot has happened in the past year alone and more currencies are gaining traction, introducing innovations that lack in Bitcoin structure, creating a positive trend and usability of cryptocurrencies – and one of them will certainly be WAVES (it got an inspiration for it’s name in the recent discovery of gravitational waves).
WAVES is a blockchain technology developed for asset holders. It promises to be user-friendly (one-click Chrome plugin installation) with totally decentralized trading platform.
WAVES is a decentralized platform that uses custom blockchain tokens to represent value. Tokens can be issued by any platform user, and can be transferred, swapped, and traded on an integrated decentralized exchange. Tokens may represent a share in a crowdfunding project, financial instrument, or any other item with inherent value. Traditional centralized crowdfunding and trading platforms rely on a third party to maintain the platform, thus sacrificing transparency and becoming prone to failures due to over-centralization. Blockchain technology allows the elimination of any centralized point of failure, storing all the platform data on all system nodes in a distributed fashion. It makes fully decentralized trading, crowdfunding and value transfer possible.
Waves has just finished with its ICO and raised 16M$ massive funding through it.
Specifications of WAVES:
– 100 million issued tokens,
– based on POS consensus algorithm,
– totally custom transactions system,
– plugin apps system (Chrome plugin at the beginning),
– decentralized system.
What sets it apart is that WAVES aims to provide adequate liquidity to its system by uniting its assets with fiat currencies (eg. EUR and USD) shortly upon launch. One cool feature will also be “atomic trade functionality”, allowing users to move assets (ability to move from BTCD, to BTC (via Iguana), to WAVES or to NXT) from one blockchain to another.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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