Waves (WAVES)

- Symbol: WAVES
Description
Waves is a Blockchain token platform that allows the creation transfer and exchange of custom and fiat tokens and assets through the Blockchain without volatility.The Waves lite client features a Portfolio, DEX, Wallet & Coin Leasing features all as a Mobile & Web Wallet.
Based on NXT’s colored coin technology, Waves was built from scratch to provide new features . Waves plans to deliver a KYC and AML compliant platform with multiple Bank partnerships that will act as gateways for fiat deposits and withdrawals.
Features
- Descentralized token exchange: Waves platform will facilitate fundraising, crowdfunding, and trading of financial instruments on the blockchain with reduced volatility.
- Custom and fiat token creation, deletion and transfer.
- Asset-to-asset exchange
- Lightweight clients: Waves will provide a easy to setup light client that can run on any computer.
- DEX: A decentralized exchange to trade Waves and various other kinds of assets against BTC and ETH.
Technology
Waves is the first production system being built on top of the Scorex framework.
Extensible solution: In order to fix the need for a mandatory hard fork when creating a new type of transaction on the NXT Platform (forcing network client software updates) WAVES offers plug-ins that are not included in the core software module, but are instead installed as an extension on top of it.
Only the most basic transaction types are supported at the core level, including:
- Custom token creation, deletion and transfer
- Decentralized token exchange, realized as a distributed order-matching engine, where Bid and Ask network transactions are matched against each other
- Anonymity features — anonymous order books are a must for an industry-grade trading platform
A new node can always enter the network and become a full node if it has sufficient resources. Lightweight nodes do not download the blockchain at all, instead relying on full nodes for payment verification and network interaction. Since lightweight nodes have to trust the full nodes and can become a victim of a rogue full node. However, there are ways to mitigate this, such as polling several nodes, maintaining trusted nodes lists, and so on. The waves network follows the approach based on using current network state as an alternative to full transaction history. System state can be downloaded by a lightweight node, and simplified payment verification procedures based on this.
Leased POS: In a PoS system each node that holds a balance in the main network token has a chance (proportional to its balance) to produce a block. The theoretical issue of reduced security caused by fewer nodes staking can be addressed through explicit balance leasing from lightweight nodes to full nodes. By leasing their balance to a trusted full node a lightweight node actually increases its chance of collecting transaction fees, since it does not have to stay online, and the full node has an increased chance of producing a block due to its increased balance.
Key Facts
- Total Coin Supply: 100000000
- Algorithm: Leased POS
- Proof Type: LPoS
- Total Coins Mined: 100000000
Team
- Sasha Ivanov: CEO, Founder. (Twitter, LinkedIn);
- Guy Brandon: Semantics Engineer. (Twitter);
- Alexander Bezkrovny: Communications. (Twitter);
- Carlos Parada: Brand Management. (Twitter);
- Martin Spodymek: Head Community Manager. (Twitter);
Waves ICO
Waves held its ICO on April 12, 2016. The ICO coin supply represents 85% of the total coin supply, so there was a total of 85,000,000 coins available at the offering, for an average price of 0.00035405 BTC each. The ICO raised a total of $16,010,008 (30,094 BTC) with a total of 5790 participants, and ended on May 1, 2016. The largest investor contributed 866 BTC which is equivalent to 2.87% of all Waves. The top 10 investors contributed 5,178 BTC and hold the equivalent of 17% of all Waves.
Token Reserve Split (15%):
- 01% Distributed to early supporters;
- 01% Reserved for post-ICO bounties;
- 04% Reserved for strategical partners and backers;
- 09% Withheld by the development team;
Waves ICO campaign featured bonus, bounties, escrow and the coin will not be mineable.

