What is Waves – Is this Cryptocurrency Project Worth the Investment?

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The cryptocurrency industry can be very confusing for the average person. There seem to be so many different things that you need to understand to make the most of this industry. However, the Waves platform is trying to solve this by bringing everything you need in one place.

Whether you plan to create your crypto token, buy existing tokens in a decentralized exchange, or develop powerful decentralized apps, Waves has all the tools you need to do that within a single ecosystem. The Waves platform is the focus of this review today. We will be looking at what exactly the platform is about, how it works, and the potential that it offers as an investable asset.

What is The Waves Blockchain?

In a nutshell, Waves is a blockchain specially created to make it easier for users to develop and launch their cryptocurrencies. You don’t need to have coding skills, a background in computer programming, or anything like that. Waves gives you the tools you need to launch your token in just a few minutes.

Waves protocol

In essence, the founders of this platform believe that the idea of launching crypto and the smart contracts that support them should be as easy as launching a mobile app. Waves has also provided tools through which created tokens can be traded within its ecosystem.

Also, in 2018, Waves added support for smart contracts to its Waves MainNet to help with decentralized apps. The vision for this project is to create a simple all-inclusive ecosystem where people can interact with crypto and all its benefits.

Who are the Founders of Waves?

Waves was founded in 2016 by Sasha Ivanov, a Russian-born physicist, and tech entrepreneur. Ivanov serves as the CEO of Waves to this day. He is supported by a team of experts including Evelina Lavrova. Evelina has over 15 years of experience in business development for exciting tech startups.

She was also the founder of a company called DeCrypto PR which helps with marketing for blockchain projects. In 2017, Evelina was named among the top 10 women in crypto.

Others include Sergey Maslennikov who is also the PR director at 1inch.exchange, Dmitry Gubanov who works as an analyst, and Aleksei Pupyshev, who is also a system architect at Gravity Protocol.

What Issues Does Waves Solve in Crypto?

The best way to understand the value of a blockchain project is to analyze the kind of problems it seeks to solve within the cryptoverse. Well, one thing that this project has done is to make decentralized technology a bit more accessible for average people.

Other than creating your token, Waves provides support for so many other important aspects of the crypto industry. This is also all done within a single ecosystem. Waves is lifting the technical barriers that have, for so many years, hindered the wide-scale adoption of blockchain technology.

Waves is also opening up possibilities for the tokenization of real assets.  This can help make traditional assets, including real estate, more tradable and investable at a micro-level. As a result, the chain can provide the basis for crowdfunding, ICOs, and even fund drives for bigger projects.

Why Is Waves So Unique?

Many factors make Waves such a unique project. First is the ease of use. Waves is among the few blockchains that allow the average person to create a cryptocurrency in minutes. Waves also strives to offer more opportunities to make money through its staking program. A full staking node requires about 1000 Waves tokens with annual yields of around 15%.

However, if you cannot raise the 1000 WAVES needed, you can lend some of your tokens to someone who can run nodes. You will still make returns. Also, Waves will easily facilitate this lending within its ecosystem.

Waves

The Waves platform also features its decentralized exchange or DEX where users can buy and sell crypto assets. This also includes custom-made tokens that are created using the blockchain. Also, please keep in mind that all tokens launched on Waves get instant access to liquidity. This means that newer coins could trade easily on the Waves DEX.

Finally, support for smart contracts is also available on Waves. This means that developers can create and launch DAPPs with various applications.

Is Waves a Good Investment?

So, the best way to invest in Waves and its future is to buy the native utility and governance token that goes by the same name. The Waves token is available on all major exchanges including several DEXs. Here is why the project should be on your radar as a crypto investor:

Excellent Total Value Locked (TVL)

Total Value Locked or TVL, is often used as a measure of the confidence investors have in a given project. The higher the TVL, the more confidence you should feel about a crypto asset. According to data by Defilama, Waves as of now has a TVL of slightly under $3 billion.

But this is not even the biggest story. At the start of February this year, the waves TVL was $700 million. This means that in about two months or so, TVL has increased by nearly 430%. This is a gauge increase and is likely to grow even further.

Cross Chain Interoperability

Waves recently announced a partnership with Allbridge. This is a protocol that helps to facilitate the movement of crypto assets across various blockchain networks. Like Waves, Allbridge is also very simple to use.

This partnership means that users who use Waves to create custom tokens can use the interoperability aspects of the Allbridge protocol to move those assets across a wide range of chains. This versatility makes Waves a central piece of technology in the effort to bring crypto to more and more people.

The Waves NFT Incubator

The Waves protocol has also launched an NFT incubator called Waves Ducks. The incubator is designed to support the Waves Duck Hunters game, which is part of its ecosystem. It allows users to mint the duck-inspired NFTs in about 2 minutes. With the rise of GameFi and NFTs, this added feature makes Waves a fairly attractive option as well.

Large Ecosystem Fund

Waves Lab, the organization that helps to run the Waves Platform, has also confirmed that it has a $150 million ecosystem fund. The fund is designed to help accelerate the development of new products in the Waves ecosystem. It will also be used to incentivize developers to create on Waves. As of now, the fund is limited to US products and developers.

There is also talk that the project will launch a separate fund in Q1 2022 to help develop more DeFi products for the blockchain. This shows there is a lot of commitment and dedication to expanding and growing Waves even further.

Conclusion

The Waves platform was created to simplify crypto. It has so far done a pretty good job at that. As an investment option for crypto investors, there is a lot of merit behind the project. From a great team of experts to deep-pocket backers, everything just feels right about Waves. It is therefore an asset worth considering. Besides, so far Waves has delivered a lot of value for investors and there is nothing to suggest this will stop in the near and medium-term.

We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.

ABOUT THE AUTHOR

Tabitha Nyamburah
Journalist

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