![Waves (WAVES): Trend & Price](/_gatsby/image/d0fddccbeb52d8f6f938f3bfa72c4dac/cd4aa086fd348348b8c8ecaafcfa06f2/Waves-WAVES.png?u=https%3A%2F%2Fblogapi.youngplatform.com%2Fwp-content%2Fuploads%2F2022%2F07%2FWaves-WAVES.png&a=w%3D189%26h%3D118%26fm%3Dpng%26q%3D75&cd=3defbf94a73fb09c0a1ecbbcf0e01292)
What is Waves?
Waves is a blockchain designed for the creation and support of smart contracts and DApps. One of its main functions is to enable the creation of tokens and cryptocurrencies by users. Waves has a user-friendly interface and does not require users to have advanced blockchain programming skills. The ecosystem includes a decentralised exchange, where user-created cryptocurrencies are also listed. Waves also stands out because of its speed in performing complex transactions and operations.
Why follow Waves?
Waves is based on the Proof-of-Stake consensus mechanism, and it strives to be completely eco-friendly. Specifically, Waves’ consensus mechanism is called Leased PoS. It allows for holders to lease WAVES coins to validators of the network. The leasing mechanism inherent in the consensus algorithm is similar to the delegation found in other PoS blockchains, and it allows the entire network to participate in the validation of transactions and receive rewards. Why follow Waves? The project consists of multiple products and functionalities. The most famous are the Gravity cross-chain network, the DeFi Neutrino platform and the whole ecosystem of apps accessible from the official website.
How was it created?
Waves boasts more seniority than other DeFi platforms. The project was launched in the summer of 2016 through an Initial Coin Offering. At the beginning of the project, the goal was to pursue a blockchain idea along the lines of the first altcoins. However, lately, the direction of the Waves team focuses on the new frontiers of decentralisation: Web3, DeFi, DAO and GameFi.
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