Why more ICOs are choosing to create their tokens on the WAVES
Is Waves one ‘smart’ step away from becoming the Ethereum killer? Waves is a decentralized crypto platform that enables users to create and issue tokens on Waves blockchain, the tokens can automatically trade on the WAVES DEX, a decentralized exchange. With a simple and easy to use user interface, the platform empowers people with a non-coding background to develop tokens and even be able to launch their own ICOs without much hassle.
Launched in 2016, the platform already hosted a number of ICOs, including the recod breaking token raise of MobileGo in 2017.
For quite some time, Ethereum has been the lead platform to fund projects through ICOs. But the inherent problem with Ethereum is its unstructured approach towards their consensus mechanism. The planned forks coming up in the future will result in volatility of price and test the platform’s community. This kind of instability is highly undesirable and creates a lot of apprehension for project developers on the platform. This is where Waves outsmarts its competition. Waves was built as a one suite solution with a structured modus operandi, integrated payment gateway, and robust regulatory framework. It has clear instructions laid out for tasks as simple as wallet creation to leasing mining power for processing transactions. This enterprise experience has apparently attracted a lot of users to start their businesses on Waves blockchain reflected by the number of ICOs the platform hosted in 2017.
The set-up is powered by WAVES tokens which enable users to transact over the platform. With a market cap of over $700 million, the price of WAVES tokens has gained significant value in the recent times. Most recently, the platform claimed they are
‘fastest blockchain network in the world.’
Stress tests on the Waves network revealed that the blockchain is capable of handling over 150 transactions per second as against 3 to 4 transactions per second on the Bitcoin Blockchain or 20 transactions per second on the Ethereum Blockchain. With a range of exciting new features to be introduced in 2018, the Waves blockchain is poised to become the apex funding platform.
Another strength of Waves comes from the team’s ability to build the project in a structured fashion learning from the challenges faced previously by other blockchain. After the launch of their decentralized exchange, Waves proactively created a self-regulatory body that will provide:
- Tax & Accounting
- Due Dillgence
Upcoming WAVES Initial Coin Offerings
ICOs and the borader blockchain industry will benefit from Waves taking this approach. The platform is set to launch off the shelf smart contracts in 2018, after hours of planning and by also exercising great caution. The team has emphasized that their smart contracts will not be the same as Ethereum’s Turing Complete contracts. The risks attached to Ethereum’s approach was validated by the Parity wallet fiasco. Hence the team has decided to launch a more secure version that will handle most of the use cases without any security compromises.
With a careful and comprehensive development plan, plus the addition of Smart contracts, Waves is going to unleash a bunch of promising tokens and if the upcoming ICOs that are planned on the platform is an early indication of its potential, you want to be HODLing WAVES tokens.
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