What is Waves (WAVES)? How to buy WAVES in India?

Snapshot:

• What are Waves (WAVES)?
• Who are the founders of WAVES? 
• How do WAVES work?
• Key Attributes of WAVES
• How to buy Waves (WAVES) in India 

What are Waves (WAVES)?

One of the first projects to focus on creating enterprise-grade blockchain DApps and custom-block processes on its platform is Waves. The platform is building towards giving developers the chance to create DApps and tokens securely and easily. The blockchain was launched in June 2016 following one of the cryptocurrency industry’s earliest initial coin offerings (ICO). By increasing speed, utility, and user-friendliness, Waves initially set out to improve on the first blockchain platforms. WAVES, the native token is an uncapped supply token used for standard payments such as block rewards.

Who are the founders of WAVES?

Alexander Ivanov, also known as Sasha Ivanov is a Ukrainian-born scientist who introduced Waves to the crypto space. Before creating Waves, Ivanov was active in the crypto space already, having released the now-defunct instant exchange Coinomat and indexing site Cooleindex.

How do Waves work?

The Waves ecosystem has undergone many changes due to the project’s approach to keeping its blockchain competitive. Major changes in recent times include the change of a static 100 million supply to an inflationary supply in 2019 (in order to reward block miners more effectively).

The 2022 roadmap of Waves has unveiled more upcoming upgrades to the core code, changes large enough for the company to bring forth ‘Waves 2.0.’ Apart from that there has also been a full schedule release that states the changes happening throughout the first half of 2022. The upgrades include a shift from the current Leased Proof of Stake consensus model to Practical Proof-of-Stake Sharing. Not only is the consensus model on the verge of an upgrade, but also the addition of EVM capabilities. This will allow top-tier DeFi protocols and other apps on blockchains like Ethereum, Solana, BNBChain, etc. to build apps on Waves.

Read more on the Waves 2.0 upgrade.

Key Attributes of WAVES

To provide an all intuitive space for the blockchain community Waves leans on a variety of unique properties and features to help it appeal to users and developers alike. These include:

• Non-Turing Completeness: There is a fundamental difference between Waves DApps or smart contracts and other blockchains. The Waves  DApps do not have to be or they are not Turing complete. This does put a limit to the absolute scope for the type of products that can be built on Waves but this also serves to focus the work of the community within a precise lens.
• Scalable: Waves delivers extremely fast experiences with extremely low costs.
• Eco-Friendly: Waves aspires to make the most of blockchain but with a minimal carbon footprint.

Explore more about WAVES, here.

HOW TO BUY Waves (WAVES)?

Use these three-step processes to buy your first WAVES using the CoinDCX crypto investment app for beginners

1. Sign Up for the CoinDCX account: Enter a valid email address and a user name on the sign-up page. Once the Email Id has been verified, set a strong password to secure your account.
2. Verify the account: You need to complete your KYC, to buy Waves on the CoinDCX platform. All you need to do is upload the documents and your account will be set up in 15 minutes.
3. Buy WAVES: After the account has been verified, you can deposit any amount of fiat currency you are comfortable with and start your crypto journey!

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

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