Blockchain platforms have come a long way from being rigid transactions ledger. Today, a platform like Waves is a hub for users to create other tokens and applications. That level of versatility, on display in this industry, incentivised BC.Game to list WAVES.
The real prize of the blockchain era is the democratisation of developer activity. Those with coding skills have the tools to explore the dynamism on offer. On Waves, you can create custom crypto tokens for many activities. The token can facilitate payments, be the basis of a loyalty rewards program, or even function as an in-app virtual currency.
Theoretically, you can create a token in a few minutes. However, serious projects require detailed planning to have a functional crypto token. Some experience in decentralised payments and software can be helpful. Nonetheless, the existence of Waves is to remove some of the bottlenecks aspiring developers face with centralised bureaucratic tech companies. Therefore, Waves provides the foundation for everyone to test their imagination and actualise their visions of a cryptocurrency.
What is the Waves Platform?
Waves (WAVES) is a blockchain platform that seeks to ease the creation of customised crypto tokens and decentralised applications. The platform launched in 2016 and continues to improve as blockchain utility grows. Waves Blockchain is unique in allowing users to create digital currencies without high-level expertise in programming. Instead, they can issue and manage tokens using scripts running in user accounts on Waves blockchain. This platform makes the creation of new tokens as simple as launching regular web applications. Developers don’t always have to build everything from scratch but can benefit from scripts. The modifications and unique identifiers to new tokens give them specificity to what the creator intends.
Additionally, Waves supports exchange services, a crucial aspect of crypto commerce. Therefore, the platform is better because the created tokens can be freely interchanged at a low cost. Smart contract functionality has added a new dimension to Waves blockchain. Individuals can build decentralised applications for smart contract enterprises.
Exploring the Leased Proof of Stake (LPoS)
The Waves blockchain utilises a unique consensus algorithm called leased proof-of-stake (LPoS). For context, the blockchain has two types of nodes; full and lightweight. Full nodes contain complete transaction records. Meanwhile, lightweight nodes depend on the full nodes for their transaction confirmation. In regular PoS consensus, node operators lock up a stipulated amount of tokens to be eligible for that role. In LPoS, nodes can lease staked amounts to full nodes. When a full node gets the right to add the next block to the blockchain, the lessor earns a percentage of the payout to the full node. Therefore, small stakeholders and lightweight nodes can participate meaningfully in transaction validation, even by leasing the balance of their tokens.
Why is Waves Special?
Waves Blockchain currently has approximately $2.2 billion in total locked value across the various DeFi platforms. Its transaction activity is also impressive, and the price of $13 for the tokens is impressive. Nonetheless, its utility is the reason this project has acclaim. Its unique PoS algorithm ensures that mining is more participatory. It will continue to grow in stature with the overall blockchain space.
Additionally, this blockchain boasts high throughput and low-cost transactions, just what developers need. Therefore, as more developers come on board, Waves provides the perfect Launchpad for their great or wacky ideas. It is not a blockchain with a singular focus but provides a Launchpad for various aspects of crypto commerce. There is a significant stablecoin, decentralised exchange, lending platform, and NFT marketplace on Waves. The diversity and versatility of this blockchain’s focus provide the edge over older blockchains not named Bitcoin or Ethereum.
Exploring The Waves Exchange
Decentralised exchanges are rising in stature. Waves Blockchain provides a hub for next-generation decentralised trading. Standard features like an Automated Market Maker and Liquidity Pools (LPs) make decentralised exchange trading possible. Waves Exchange has over $151 million in Total Value Locked (TVL) on the DEX. Decentralised exchanges provide more privacy and security in trading because the DEX does not rely on custodial wallets.
Additionally, users who provide locked tokens for the liquidity pools get a portion of transaction fees and rewards. Generally, Waves Exchange provides more transparent governance than centralised exchanges. Besides, Waves has also ventured into non-fungible tokens (NFT) trading. The SIGN Art digital marketplace facilitates the trading of crypto-collectables and NFTs. These unique assets provide innovative mechanisms to tokenise and track ownership of various digital items.
Stablecoins Issuance in Waves: The Neutrino Protocol
Stablecoins are vital for traders who want exposure to various crypto tokens without fully onboarding risk from their volatility. Waves is a crucial crypto marketplace, and saw it fit to have a stablecoin on the platform. Developers can use Waves blockchain to launch their stablecoins relying on algorithmic stabilisation. Some notable stablecoins are USD Neutrino, JPY Neutrino and GBP Neutrino.
Neutrino is a stablecoin issuing protocol that relies on algorithmic price stabilisation. It is different from USDT, which physically keeps a backup of the US Dollar and tweaks its supply to match back up. Accordingly, Neutrino is the most popular dApp on Waves blockchain. Neutrino Protocol can maintain the stipulated ratios using algorithmic processes, making it more transparent and efficient.
Why BC.Game supports WAVES
Waves Blockchain provides a secure and convenient ecosystem for understanding blockchain functionality. The available tools foster the creation of customised tokens fitting unique needs. Accordingly, its value comes from its utility and simplicity. Creating a suitable hub for developers to test their blockchain skills is priceless. Waves Blockchain aims to position itself at the heart of crypto commerce in the future. BC.Game is a crypto casino that appreciates the payment efficiency of various crypto tokens. Accordingly, listing WAVES makes sense because it is a token and decentralised application creation hub.