WAVES/strong>/a> is the native token of <strong>the Waves network.<\/strong> It’s a blockchain platform that provides users with <strong>the ability to develop their own tokens<\/strong> since it supports smart contracts and decentralized applications (dApps). The tokens can then be used for crowdfunding, loyalty reward programs, or as in-app currencies. If you want to see the current WAVES price, make sure to take a look at the Waves price chart placed above.<\/p>\r\n<p>The Wave network employs a custom version of the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">Proof-of-Stake/strong>/a> consensus mechanism called <strong>Waves-NG.<\/strong> The protocol was created based on <strong>Bitcoin-NG <\/strong>in order to boost the Waves blockchain's throughput.<\/p>\r\n<p>Waves-NG allows a miner to continuously farm a so-called <strong>liquid block<\/strong>, which increases during the time of mining. It consists of a key block and a chain of microblocks. The creation of the key block starts the mining round.<\/p>\r\n<p>Consensus is used to identify the address of the <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-miner/">miner/strong>/a> that is listed in each key block. <strong>A key block<\/strong> is created only with service information (miner’s public key, miner’s proof, etc.) and no transactions. <strong>Microblocks<\/strong>, on the other hand, are created only with transactions, but without service information. Each microblock is related to the one before it and is formed every five seconds before the following block.<\/p>\r\n<p>In order to become a miner, a user must have at least 10,000 WAVES tokens. However, other WAVES holders can support miners by loaning their tokens. This is done thanks to a<strong> Leased Proof-of-Stake (LPoS) <\/strong>consensus mechanism employed by the Waves network. It allows WAVES token holders to lease their tokens to mining nodes and receive a part of their mining rewards. Besides, by leasing the tokens, they help to increase the stake weight of the miners.<\/p>\r\n<h2>The Founders of the Waves Network<\/h2>\r\n<p>The Waves network was launched in 2016 by <strong>Alexander Ivanov (Sasha Ivanov).<\/strong> He is a scientist who has a degree in physics. Ivanov worked on developing software for Internet payment systems and financial market neural network forecasting, before getting involved in the cryptocurrency industry. Though when he got involved in this industry, he introduced the first instant cryptocurrency exchange called Coinomat, a stablecoin called CoinoUSD, and the first tradeable crypto index called Coinoindex.<\/p>\r\n<h2>The Purpose of WAVES Coins<\/h2>\r\n<p>WAVES coins are the driving force behind the Waves network. Mainly, WAVES coins are used to <strong>reward block generators<\/strong> with transaction fees and block rewards.<\/p>\r\n<p>However, when users create their own tokens on the Waves network, they can also use WAVES tokens to <strong>create trading pairs with their tokens on the Waves DEX.<\/strong><\/p>\r\n<p>Besides that, WAVES tokens act as <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-collateral/">collateral/a> for USDN stablecoins.<\/strong> USDN runs on the Neutrino protocol<strong>,<\/strong> which is based on the Waves network. It’s an algorithmic price-stable assetization protocol that allows users to develop stablecoins.<\/p>\r\n<p>Again, don't forget to check the Waves price chart because it displays the live WAVES price.<\/p>\r\n<h2>The Supply of WAVES Coins<\/h2>\r\n<p>The initial supply of WAVES was 100 million coins. 85 million coins were sold during its initial coin offering (ICO). The remaining portion of the supply was distributed between the development team, strategic partners, backers, early supporters, and post-ICO bounties.<\/p>\r\n<p>If you're considering buying WAVES tokens, bear in mind that <strong>the WAVES price is prone to fluctuation.<\/strong> This happens as a result of the WAVES price being affected by the fluctuation of the whole crypto market in the same way that other digital assets' prices are.<\/p>","disclaimer":null,"url":"https:\/\/www.bitdegree.org\/cryptocurrency-prices\/waves-waves-price","crypto_currency_info":{"id":25,"crypto_currency_id":188,"description":"Waves (WAVES) is a cryptocurrency launched in 2016. Waves has a current supply of 107,827,666. The last known price of Waves is 31.26925101 USD and is up 0.76 over the last 24 hours. It is currently trading on 165 active market(s) with $552,954,466.86 traded over the last 24 hours. 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What is Waves?
WAVES is the native token of the Waves network. It’s a blockchain platform that provides users with the ability to develop their own tokens since it supports smart contracts and decentralized applications (dApps). The tokens can then be used for crowdfunding, loyalty reward programs, or as in-app currencies. If you want to see the current WAVES price, make sure to take a look at the Waves price chart placed above.
Brief Waves Analysis
Based on the technical Waves analysis & evaluation, the current market rank of WAVES is #224, while the coin's market cap is $97,698,369. In comparison, the Bitcoin market cap is as high as $2.25T! According to our research, the total circulating supply of Waves is 119,198,230 WAVES coins, while Bitcoin has a total current supply of 19,941,553 BTC coins.
Why Do People Buy Waves & Other Altcoins?
First of all, altcoins are usually very volatile - this means that their price fluctuates quite heavily, and it is possible to make a good profit while trading them. Also, by buying an altcoin, you support the technology and the project behind it.