Waves (WAVES)

The Waves platform was started in 2016 by Alexander Ivanov, following the NXT vision, but was set to advance scalability, digital asset exchanges, and usability. Waves achieved this with its efficient Leased Proof of Stake consensus, easy issuance of tokens, and the possibility to trade tokens on a DEX. Since then, Waves has continuously improved efficiency and functionality with the implementation of Waves-NG, various built-in transaction types, the RIDE programming language for smart contracts, and most recently started working on the Gravity Hub for interoperability. Waves has shifted its focus towards Web 3.0 and is becoming a protocol for borderless decentralized applications. In 2020, Waves introduced the Waves association to further build out the ecosystem, support protocol development, and research activities & is working towards real business and DeFi adoption.

These resources help you to get to know Waves, to understand how Waves works and to start using Waves. 

These resources help you to get to know Waves on a technical level and to start working with it. After going through the Waves resources you are able to determine when it makes sense to use Waves, how to set up and run a node, network or application.

The Waves ecosystem is powered by the Waves token. In Waves you can run a fullnode which is mining or lease your Waves to a node that has more than 1000 Waves tokens. Block generators collect 40% of transaction fees for the generated block and 60% for the previous block which is due to the specifics of the platform’s Waves-NG block generation protocol. Block rewards are currently set to 6 Waves and should lead to 5% annualized revenues.

More about Leased Proof of Stake can be found here and about Waves staking policy and block rewards can be found here.

For a long time Waves Foundation & Alexander Ivanov have led the Waves ecosystem and development. In 2020, Waves governance model is moving towards more decentralization under the supervision of the recently established Waves association. It is intended to implement DAO-like mechanisms on the blockchain for submitting initiatives, making decisions, and incentivizing the community.

The Waves ecosystem has strong roots in Russia and is constantly evolving. Through a push by Waves Labs towards “100 dapps” in 2019, many prototypes have been built. Currently, Waves is turning towards real business, DeFi, enabling Web 3 and regional expansion.

The overall focus is on enabling Web 3 builders with the necessary tools and applications for decentralized solutions. The Waves platform has constantly added new functionalities and the tech team is working on rebuilding nodes for more efficiency and easier maintenance, and at the same time advancing the RIDE programming language and enabling interoperability with the Gravity Hub. With “Waves Matter” and “Sharding” two more research areas have been identified and are currently investigated.

More info can be found here.