Exchange Waves

Waves is a community-based stack of decentralized open-source technologies for the creation of scalable, user-friendly applications. It is a multi-purpose blockchain platform that enables NFTs, DAOs, and other new business models related to digital technologies. 

Being a smart-contract-first platform, Waves allows the development of new dApps with their own tokens that are the iterations of the base version. 

One of the main advantages of Waves is its scalability as it allows it to develop fast at a very low cost. The project also aspires to be eco-friendly and works on leaving a minimal carbon footprint. It is also interpolable and can be bridged to other ecosystems. 

Waves was launched in 2016 by Ukrainian-born scientist Alexander Ivanov. The project held 

one of the first initial coin offerings in the crypto space, which raised about $16 million. During the ICO Waves has minted 100 million tokens, from which about 85 million were distributed to the participants. The rest of the coins were kept for bug bounties, early investors, developers, and strategic partners. 

The platform uses its own programming language called RIDE and also a modified proof-of-stake protocol named LeasedPoS. Since its launch, the platform has undergone several changes and got new features to build on its original design. 

WAVES is the native token of the project used for the standard payments, including the block rewards. Token holders have the right to govern the platform and choose the changes to the protocol. The approvement of any modifications requires more than 80% of the votes to be in favor of it. 

In October 2019 Waves coins holders voted for the project to move from a fixed to a deflationary token, which means that the number of tokens will increase over time.