Cryptocurrency analysis

Electus Info
May 21, 2018 · 4 min read

Waves is a blockchain platform for carrying out crowdfunding, ICO and tokenization of any kind of electronic assets. It is a direct competitor to Ethereum. The cryptocurrency ticker is Waves.

Alternative to Ethereum

Alexander Ivanov is the founder and CEO of the Waves Platform. This is not his first experience with blockchain projects. He is also the creator of the instantaneous cryptocurrency exchange Coinomat.com and the cryptocurrency exchange index Coinonindex.com. The Waves team conducted the ICO in April-June 2016 and raised 30,000 bitcoins, equal to 16 million dollars at that time.

Waves positions itself as a direct competitor to Ethereum. First of all, the platform is focused on start-ups and projects that want to conduct ICO and raise funds through crowdfunding. Ethereum is focused on the development of decentralized applications, but the main advantage of Waves is the favorable environment for creating a variety of custom tokens.

The platform has solved the problem of scaling, which is still considered the key disadvantage of Ether. The network load leads to slow transactions in Ethereum. Some ICOs even had to change the roadmap, as investors did not manage to transfer funds on schedule.

Waves simplified the algorithm for receiving funds and developing tokens. To create your own cryptocurrency, you just need to register a wallet and download the Lite client. The creators have collected all the required licenses so that funding could be received in fiat money, such as dollars or rubles, and not limited to cryptocurrencies.

In addition, the developers launched the internal decentralized exchange Dex. This allows start-ups to leave money within the Waves ecosystem, which also simplifies crowdfunding and opens up new opportunities for investment. For better performance with other cryptocurrencies, Waves uses special gateways. For example, in July 2017, Waves Platform users received the opportunity to work with Ethereum, and in October 2017 — with Litecoin and Zcash.

The Waves platform is built on its own blockchain. Developers initially decided to use Proof-of-stake, which Ethereum only plans to move to. The creation of a new block takes one minute, it contains 100 transactions. Miners receive rewards in the form of commissions that are mathematically limited in size. The more users and projects are integrated into the network, the more profitable Waves mining is. The total issue of tokens is 100 million.

Platform development plans

Ivanov and the team initially focused on making Waves as accessible as possible. They developed a light client (Lite Client), which also has a wallet function and is a tool for creating your own tokens. It is compact, since it does not oblige to store a full node and contains information only about your assets.

At the end of 2017, the project representatives announced that they plan to make Waves the fastest blockchain platform. The New Generation technology will handle a thousand transactions per minute. It quickly provides miners with the necessary information for creation of a block, and also sends the largest possible number of transactions to the network by placing them in microblocks.

Since 2018, Waves started using smart contracts, and in March 2018 atomic swaps were announced (exchange between two blockchains without intermediaries). Also, the developers plan to introduce an anonymous blockchain voting system, which is one of the prospective areas for the development of the project. The development of a blockchain-based operating system called Blockchain OS is also underway.

Ivanov actively discusses the development of blockchain projects in cooperation with state institutions. Waves aspires to receive all kinds of licenses in order to use fiat or get state orders. Cooperation within the framework of state programs is also considered as an option. For example, in April 2018, the launch of Vostok — the Russian national platform for the ICO — was announced. State projects for testing of the blockchain voting systems are also discussed.

Exchange rate analysis

After the ICO and the start of trading on exchange there was a huge the excitement about Waves, but then the price stabilized at $0.2 per token. The growth of interest began in late April 2017. Within two months, the exchange rate increased to 6.7 dollars per one token, and capitalization increased from 40 million to 82 million. Another sharp increase was noted in early December, when the price of Waves increased from 4.69 to 17.06, and capitalization increased from 468 million to 1 billion 705 million within twenty days. In April 2018, Waves traded at $ 5 per token, and the capitalization was 517 million.

Interesting Facts

• In February 2018, the desktop client of Waves Platform was released, which further simplified user access to a variety of services. The developers claim that such software is a more convenient and safe way of storing cryptocurrencies than web-wallets.

• Startups that have already collected funds using Waves include Starta ICO, wBTC, Incent, WCT, Darcrus, Zrcoin and MobileGo. And the founder of the cooperative LavkaLavka Boris Akimov even tokenized on Waves his working time and abilities.

• Waves are famous for their marketing company. Alexander Ivanov is regularly interviewed by Forbes, Cointelegraph and other large magazines. He is also known for his support of legal status of the cryptocurrencies.

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