Welcome to The Blockchain Report. In this video, we’re going to talk about Waves.
Waves is a cryptocurrency that utilizes PoS, or “proof of stake” blockchain technology. With the Waves platform, individuals are able to generate their own tokens, and then start trading them right away. In this regard, using the Waves platform, just about anyone can launch an ICO, or initial coin offering. Waves allows users to be able to execute this in a matter of mere moments, without needing to have knowledge of programming languages.
Crowdfunding is possible with fiat currency on Waves, with the platform having gateways that grant this process. So, using Waves, you can structure an ICO and start getting funding in USD, Euros, or Chinese Yuan in just a few minutes. In order to create a token within Waves, you need a minimum of 1 WAVES token.
Then, one can compose a name of the token, as well as define its supply and how many decimal fractions it will have. Alongside this, users have the ability to even add smart contracts to these tokens, in much the same way as you’d see in something like Ethereum.
At the time of this recording, 21,569 tokens have been made using Waves. The decentralized exchange that is built on top of the Waves platform is called WavesDex, and it allows people to sign in and trade crypto like Bitcoin for Waves and other tokens. There is a consistent $5 million or so 24-hour trading volume on WavesDEX, with orders costing only 0.003 WAVES.
That’s less than a penny.
Sasha Ivanov is the CEO of Waves. Previously, he’d been a part in launching the crypto exchange Coinomat.com, as well as Coinoindex.com, and CoinoUSD, which was the first fiat-backed token.
Thanks for watching the Blockchain Report on Waves. If you want to stay up to date on all the latest crypto news and trends, be sure to follow us on Instagram @BlockchainReport. We’ll see you next time.