The crypto world is yet again making noise after Waves Platform gradually takes the limelight away from traditional cryptocurrencies already used online. Waves is a block chain gateway for crowdfunding and payment systems. In 2016, Waves generated 30k BTC paving its way to land in the 7th spot regarding best crowdfunding campaign in the world. People have been eager to understand what is waves coin and its platform so here is some facts for you need to know.
How do Waves work?
Waves is an open block chain avenue that functions the same way as Bitcoin but extends some other features including value transfer. The general aim of Waves is not to eliminate the existing cryptocurrencies bit to provide a space for them to be exchanged, issued and transferred.
The central concept of this product is to decentralize the exchanges between transactions. Average transaction speed range from one to thirty seconds. The first Waves concept is to allow pounds, dollars, euros and other currencies to enter the blockchain –a move not efficiently supported by any banking system in the world.
What is Waves Coin?
A Waves coin is the token issued and distributed to participants. At present, there are around 100 million tokens which do not increase in number. Waves coined are mined through leasing the balance stored in the wallet or the whole block chain. With the use of blockchain tokens, anyone who wants to crowdfund a project or to send money overseas can process the transaction without staying within the administrative or financial systems.
What are the advantages of Waves?
- There are a lot of benefits users can get when making transactions with the platform. Here are a few things you can enjoy:
- The Waves introduces novice users to the world of cryptocurrencies and blockchain technology.
- Users can invest in stocks or assets companies through the crowdfunding platform.
- Users can mine or forge Waves by hosting a full node and earning from transaction fees.
- Waves offer asset issuance with the Custom Application Tokens (CATS) which can be transferred individually
Waves allows use of second currencies to serve as payment of fees
Overall, Waves is a lucrative avenue for the world of cryptocurrencies and the real currencies to combine in coming up with more efficient transactions. Waves Platform promises no more than secured, safe and fast processes. At present, Waves is recognized by ZrCoin, ChronoBank. PrimalBase and MobileGO. Its team is continuously exploring more opportunities to maximize the benefits of this exciting technology.
