What is Waves Coin? How does Waves work? Here we go for Waves Coin reviews and more:
What are Waves?
Waves, a Russia-based blockchain platform, is a network of Web 3.0 applications and decentralized solutions that aim to make the process of developing and running decentralized applications (dapp) easy and accessible.
The mission of the platform is to create an ecosystem that aims to accelerate the transition from centralized systems to decentralized systems and to have complete control over the individual’s own money, assets, personal data and privacy.
Launched in 2016, Waves has released several blockchain-based solutions since then. Waves’ technology is designed to meet the needs of developers and companies that want to take advantage of the features of blockchain systems.
What is Waves coin?
To explain briefly, Waves coin is a crypto currency that is used as an abbreviation, “WAVES”, to trade and store a certain value like other crypto coins. Waves’ structure is open source as in Bitcoin. It also has a structure that allows you to see each transfer made.
We explained this structure in detail in our Bitcoin Guide article. You can read it by clicking the link if you wish.
WAVES plays an important role in maintaining and operating the Waves network. WAVES is used to create private tokens and pay transaction fees. In addition, the supply of WAVES tokens is limited. There will only be 100 million WAVES at all of the time.
How does Waves work? What’s the logic?
Waves uses the Blockchain infrastructure like other cryptocurrencies. Due to its few features that distinguish it from other cryptocurrencies, it does not necessarily need Blockchain. Waves coin has an algorithm structure that combines nodes rather than nodes in the Bitcoin network. Another explanation is that it combines lightwieght and full nodes instead of working with full nodes on the network. In this way, there is no need for transaction history. In short, it carries out the operations on the network using simple data.
How to buy Waves coin?
You can get Waves from crypto money exchanges. Please note that the cryptocurrency exchange you use is reliable. We mentioned this in our article on Best Bitcoin exchanges. If you wish, you can reach it by clicking the link.
Waves is one of the most traded crypto currencies in the world today. Waves, one of the top 60 cryptocurrencies with a market value of $ 260 million, is listed on the world’s most popular exchanges. Binance, Kraken, Huobi, OKEx, Bittrex are a few of them. It is also possible to buy Waves from Paribu in Turkish Lira.
You can buy Waves not from these platforms, but also from the decentralized exchange Waves Exchange on Waves’ own platform.
Waves’ transaction volume is quite large. We will present detailed information in a table you can see below, but let’s give you a few details. As of September 17, 2020, the price of Waves is 18.33 TRY and the trade volume in the last 24 hours is 308.936.256 TL.
Waves coin mining
The mining of cryptocurrencies has become a very popular business. But Waves Coin; It does not have a mining structure like Bitcoin, Ethereum or other cryptocurrencies. While the supply of Bitcoin was 21 million, more than 18 million of this amount has been mined so far. However, the supply of Waves Coin is 100 million and all 100 million Waves Coins are in the market.
There is no such thing as Waves mining, but the names that created this cryptocurrency brought a different alternative to mining. This alternative is called “Masternode”. Its Turkish equivalent is “Masternode”. You can get new Waves Coin with this method, but you must have at least 10 thousand Waves. If you don’t have 10 thousand Waves in your wallet, you can go for another alternative. It is also included in the transaction fee for block generation and to rent Waves Coin. This situation can be compared to a mining pool or cloud mining. What this means for you is to contribute to the network by participating in the blockchain system on the network. If the people you hire can complete the blockchain, the revenues will go to the original owner of Waves Coin. Later, the person you rented the coins gives you a share of the income they earn.