Waves - Shitcoin Review
on Oct 04, 2018
This project has been making WAVES in the scene for some time now.
With a loyal following and decent LIQUIDity, they have a bunch of fans.
Can’t think of any more ocean related puns at the moment, so that brings us to today’s review: Waves.
Let’s dig in…
Waves (ticker: WAVES)
Wtf is this shit?
Waves is a blockchain platform which allows anyone to create and deploy their own tokens. Waves is the name of both the project as well as the native cryptocurrency.
We believe that Waves' success to this point has been largely due to their marketing efforts. NICE CHANGE OF PACE FOR THIS INDUSTRY. The project’s efforts are clear and simple to explain.
Anyways, as mentioned, Waves is a blockchain platform that allows you to easily create your own token. Unlike Ethereum, the Waves smart contracts are non-turing complete, but as a result, are more secure and straightforward in their functions. In the future, they plan to add functionality to allow compatibility with turing complete smart contracts.
It generally costs 1 WAVE to create a token….and the process can take as little as a few minutes.
Since Waves offers a platform for easy token creation, they also offer a Waves DEX, which is currently live and functional (with a pretty UI). Using the DEX, you can list your token to be tradeable with any other Waves asset.
They also offer fiat gateways, that require KYC...but no KYC for crypto-only investors.
You can create a token, or access your funds through the Waves lite-client (it is lite because you do not need to sync with the entire blockchain)....the lite client is available on both iOS and Android platforms, or through the web.
CONSENSUS. Waves has what they consider a two-tier architecture, introducing Leased Proof of Stake (LPoS)...an iteration on PoS.
Basically, Waves has full nodes and lightweight nodes. Lightweight nodes do not need to download the entire chain and depend on the full nodes for confirmations and other interactions with the main chain….this strategy is based on the SuperNET lite client which has been running on the NXT platform.
Now, in LPoS...light nodes can lease their balances to full nodes, so that they can still receive staking rewards (even if offline). This is meant to help with throughput and scalability while keeping decentralization in mind. (For example..a reason we are not fans of DPoS is because the network becomes centralized, naturally). There are lists of popular nodes and pools you can lease to.
That ABOUT sums things up. There are other details such as matcher nodes (which put orders together and execute trades), while the ‘normal’ nodes you think of are settling transactions on the chain. They also have Waves-NG in their consensus (an iteration on Bitcoin-NG)...all to help with throughput...but these are quite technical. If you want us to dive deeper into these mechanisms...tweet at us.
Hope you get the picture now of what Waves is all about - a platform to easily create a token and list it on their DEX.
Who tf is behind this shit?
Sasha Ivanov is the founder and CEO. He finished school sometime between 1999-2002 with a background in math and physics, from Russia. He started as an independent software developer, then went on to found his own projects. He is currently also the founder and CEO of the Vostok Project, another blockchain project….and is a member of the advisory board for PrimalBase...a real-estate blockchain project.
All in all, hope you learned some shit. Ranking well on Coinmarketcap with a loyal community and team, high-tier shitcoin. Let’s see how they do.
Hope you learned some shit.
- Mike and Aaron