Waves

Waves is a multi-faceted blockchain platform that supports a variety of use cases, such as decentralized applications (DApps) and smart contracts. Launched in 2016 following a prominent initial coin offering (ICO), Waves initially aimed to improve upon early blockchain platforms by enhancing speed, utility, and user-friendliness. The platform has evolved over time, incorporating new features and spin-off products to build upon its original design. The native token of the Waves ecosystem is WAVES, which has an uncapped supply and is used for standard payments like block rewards. Waves is closely associated with its founder, the Ukrainian-born scientist Alexander Ivanov, who was already active in the cryptocurrency space prior to creating this platform. Waves was designed to appeal to businesses interested in leveraging blockchain technology to enhance their processes or develop new services. The platform supported the creation of smart contracts and DApps, ensuring that its speeds and ease of use surpassed that of competitors at the time. Waves has since expanded its offerings, introducing products like Gravity, a cross-chain and oracle network, and Neutrino, a decentralized finance (DeFi) focused platform. Waves DEX is the platform's decentralized cryptocurrency exchange. In 2020, Waves announced the integration of its WAVES token as an ERC-20 standard asset, enabling interoperability with the Ethereum network. The Waves network is secured using a modified proof-of-stake algorithm called WavesNG, which is based on the Bitcoin-NG scaling proposal developed by the renowned Bitcoin advocate and Cornell University researcher Emin Gün Sirer. Waves emphasizes the open-source nature of its codebase, which it believes promotes greater trust and easier maintenance compared to closed-source enterprise blockchain solutions.