What is it?
The Waves platform founded in 2016 as a project to develop an ecosystem consisting of a blockchain platform which makes users be able to create their own custom tokens. It provides smart contract solution and also a decentralized exchange named Waves DEX.
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The developers realized that the implementation of blockchain in everyday life is slow. So, they provided Waves platform as a solution. They believed that with their new idea the process of blockchain adoption would speed up and could get to use in various field.
Here are the main features:
- Regardless of which fiat or crypto currency is dominant in the market in any part of the world, the platform wants to make tokenization, buy and sell all forms of digital assets pretty much easier.
- One of the main purposes is to become a platform for launching ICOs (Initial Coin Offering) in a way to be more cost-efficient and user-friendly.
- The platform and DEX (Waves decentralized exchange) created to make the process of token trading easier. In fact, Users are able to trade their cryptos into Waves token or any other token created on this platform or even trade traditional fiat currencies such USD or EUR.
- Its platform implemented Waves-NG protocol which makes the blockchain faster, scalable and decentralized.
- It proposed its own dedicated language for smart contracts named “RIDE”. The new language of smart contracts mechanism is easier. It also enables the creation of the categories like “smart assets” or “smart accounts”.
Waves platform Vs. Ethereum
Creating token on waves platform has a fast and flexible process, which can be done within minutes. In addition, the developers promising that creating a new token on this platform would not require to be a technological expertise. Tokens created on the Waves platform can be pegged to fiat currencies and other real assets, such as bonds, intellectual property, stocks etc.
Waves platform is competing with other popular platforms like Ethereum. The main advantages of this platform in compare to other platforms are:
- To create a token, smart contract is not required
- No programming or IT background is needed
- It doesn’t need any code audit, monitoring or even maintenance
- Tokens are immediately tradable on the DEX exchange.