6 Things you Need to Know About Waves (WAVES)

Waves is a Ukrainian blockchain offering smart contracts and dApps compatibility. Using Waves, developers can develop scalable and secure applications. WAVES token is mainly used to get block rewards.

Waves is a blockchain developed by Ukrainian developers. In this story, I am going to explain 6 things you better need to know about Waves project. For more info, you can also check the official documentation of the project here.

#1–Leasing & Account Types

Waves blockchain uses the Leased Proof of Stake (LPoS) consensus model. In the Leasing process, the token holders can lease (lend) their tokens to the Waves nodes. In return, they earn a percentage of the block generation payout as a reward. Waves nodes should also have the generating balance of at least 1000 WAVES to be eligible to mine blocks.

Waves blockchain offers 4 different types of accounts:

1. Regular: contains the WAVES tokens of the holder.
2. Available: Regular account minus the tokens leased to other accounts.
3. Effective: Available account plus the tokens leased by other accounts to the user.
4. Generating: minimum value of the effective balance during the last 1000 blocks.

#2 —Aliases

Aliases are short, user-friendly, and easy to remember names. Users can use these names instead of long alphanumeric addresses for transactions such as:

• Transfer