Question 1

What's the current price of WAVES (Waves)?

Accepted Answer

As of the latest update, the current price of WAVES is XRP 0.22914727, with a 24-hour trading volume of 3.5M. In the last 24 hours, it has increased by +0.31%.

Question 2

What Is Waves (WAVES)?

Accepted Answer

Waves is an open-source blockchain protocol designed for Web 3.0 applications and decentralized solutions. The platform aims to enhance the speed, reliability, and security of IT systems. It facilitates the development of blockchain-based applications in an attempt to promote mass adoption of blockchain technology.

Question 3

Who created Waves?

Accepted Answer

Waves was created by a team of experts in the blockchain field, led by Alexander Ivanov, a Russian entrepreneur. He and his team launched the platform in 2016 with the aim to revolutionize the way blockchain technology can be used in daily operations.

Question 4

How does Waves work?

Accepted Answer

Waves operates on its own blockchain. It allows users to issue their tokens or cryptocurrencies. Furthermore, it permits the creation of smart contracts, a self-executing contract where the terms of the agreement are written into code. Waves' blockchain is maintained by miners who process and validate transactions on the network.

Question 5

What makes Waves unique?

Accepted Answer

Unlike many blockchain protocols, Waves offers a comprehensive development platform for Web 3.0 applications. It includes a high-redesignable wallet, a decentralized exchange (DEX), and a tool to release tokens. What makes it unique is its ability to host multi-currency wallets, providing wide opportunities for all sorts of transactions.

Question 6

What is the consensus algorithm of Waves?

Accepted Answer

Waves uses the Leased Proof-of-Stake (LPoS) consensus algorithm. In this model, WAVES token holders can lease their balances to full nodes, which in return, share rewards with leasers after generating new blocks. This model empowers smaller WAVES holders to participate in the network's security and earn returns.

Question 7

How much Waves (WAVES) is currently in circulation?

Accepted Answer

There are currently 100.0M WAVES tokens in circulation, out of a total supply of 100.0M tokens.

Question 8

How is the Waves Network secured?

Accepted Answer

The security of the Waves network is bolstered by its LPoS consensus mechanism. Moreover, it leverages advanced cryptographic algorithms to protect users' assets and information. Any potential network malfunction or malicious activity is deterred by the consensus mechanism's design, which requires nodes to stake a significant amount of WAVES tokens to participate in the network.

Question 9

What are the real-life applications of Waves?

Accepted Answer

Waves puts a focus on real-world applicability. With its tech-friendly nature, it offers numerous use-cases, like launching your own digital currencies, building decentralized applications (dApps), crowd funding, and even creating loyalty programs.

Question 10

What's the market capitalization of Waves?

Accepted Answer

As of current data, the market capitalization of Waves is XRP 22.9M, making it the #595 largest cryptocurrency.

Question 11

Where can you buy WAVES?

Accepted Answer

WAVES can be purchased on several prominent cryptocurrency exchanges listed in our current trading platform list, which includes Indodax, EXMO, Binance.

Question 12

How can you keep your WAVES safe?

Accepted Answer

Security always should be a priority when dealing with cryptocurrencies. It's advisable to use secure wallets to store your WAVES. You might also consider hardware wallets, which are regarded as the safest type of wallet available. Always keep your private keys private and ensure the security of your password. Regular updates to your wallet's software will also contribute to your security.

Convert WAVES to XRP

Try our Crypto Pro app