WAVESWaves is a blockchain platform that focuses on making it easy for anyone to issue their own custom token.
What is Waves?
Waves is a blockchain platform that focuses on making it easy for anyone to issue their own custom token.
How does Waves work?
It is relatively easy to create your own token on Waves using the platform UI. One key benefit of the program is that the tokens are also tradable on its decentralized exchange known as DEX.
You can create your own token on the Waves platform through the web or your phone. Once created these coins could be bought/sold/traded on the platform without a middleman. It costs 1 WAVE, the native token of the network, to create a new token.
The decentralized exchange of the platform is a typical decentralized exchange with trading pairs in WAVES, BTC, ETH, LTC and USD. DEX uses an automated matcher to pair buy/sell orders and exchange the tokens when orders are fulfilled. Your token is stored in your own WAVES wallet.
The platform uses a variation of the traditional Proof-of-Stake consensus known as Leased Proof-of-Stake. Users who do not have enough WAVES to run a full node can stake their tokens by leasing them to the full nodes that are running the network. They in turn receive returns for leasing their token.