Waves is a cryptocurrency that allows you to launch your own digital currencies. Also, you can decentralize crowdfunding and trading with Waves as it comes with fiat currency gateways, such as CNY/EUR/USD in the wallet. By using Waves, startups can easily launch ICOs and collect funds from all over the world in just a few minutes without any intensive cryptocurrency coding. Startups use Waves to enter in the cryptocurrency mining industry and makes their life easy.
Invented in the year 2016 by Sash Ivanov (Founder of Coinomat cryptocurrency exchange and also involved in Nxt cryptocurrency platform), Waves is created in order to address numerous perceived barriers related to blockchain adoption. Barriers include scalability, user experience, and speed. The development of Waves was funded by crowdsale and around $16 Million were raised. Then, Waves came out as the second successful crowdfunded blockchain project that collected around 30,000 Bitcoins.
In November 2016, Waves was launched as decentralized network with full nodes release. The launch included token creation facilities release that allows developers to have their own blockchain-based applications. Based on Bitcoin-NG, Waves makes use of network consensus algorithm and updated proof-of-stake networks known as Waves-NG. It makes use of trusted gateways in order to issue blockchain tokens that are backed by traditional and digital currencies.
Smart contracts is not a complex task in Waves as it is in Ethereum. They are secure and powerful in this currency.
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