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WAVES Platform is Set to Change The Blockchain Technology

Waves Platform

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 platform will start with it’s ICO (Initial Coin Offering) on 12th April 2016 and is set to fully launch this summer. What is WAVES you might ask? Here is a quote from their website:

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.

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.

About the author

Warren Simons