What Is Waves?

In Waves you can create custom tokens of your own and launch it as your own digital currency. You can also crowd funding and decentralize exchange, as it is in line with the fiat currency like EUR/USD/CNY right in your wallet.

In just a matter of minutes you can launch ICOs to fund your projects anywhere in the world without any coding skills or administration. As a startup, this will be an open gateway for you to establish your business freely and with your own terms.

The Waves digital currency has a real world connection on exchange and players for trading.

waves platform

Key Features

- WavesDex

That it is so amusing to keep decentralized resources, for example, BTC/ETH on brought together trades. Hacks like MtGox and Bitfinex are a case of this level of ineptitude.

Wouldn't it bode well to keep and trade decentralized resources on decentralized trades?

WavesDex is a decentralized traded based on the Waves blockchain. It enables clients to exchange their BTC/ETH/and so on in return for Waves (or some other resource token issued on the Waves stage).

waves platform

You can use WavesDex by installing the Lite wallet or Chrome extension in your browser.

– Smart Contracts

In Waves, smart contracts are not as intricate as they are in Ethereum. They are Non-Turing complete, yet capable and secure.

– Tokenization

You can make your own particular custom tokens or digital forms of money in one moment on the Waves stage. You will require no less than 1 WAVES token to do as such.

You can choose what name to give the token, what number of to be issued, and what number of decimal parts you need to keep.

This is perfect for swarm subsidizing and ICOs.

– Fiat Gateways

Fiat Gateways, for example, USD/EUR/CNY will enable you to trade any token issued on the Waves stage (or some other digital currency like BTC/ETH) for "genuine" cash, which can be kept in a bank.

– Best of Both Worlds

All exchanges between cryptographic money to fiat or fiat to digital money will be recorded on the Waves blockchain. This resembles blending the best of the two universes (i.e. incorporated frameworks and decentralized frameworks).


KYC/AML is expected to store and pull back fiat cash. Nonetheless, KYC isn't essential for digital currency exchanges.

Getting Started With Waves

Basically Waves want to move payment systems and crowdfunding to blockchain. There will be USD/EUR/CNY in your wallet and a crowdfunding platform so it’s like a decentralized kickstarter the end-user client is very lite weight, no need to download blockchains, you just install it from Chrome store.

Waves are just the opposite to ETH probably. What they do is develop Bitcoin scripting, do everything using contracts, it’s very fundamental but makes certain things very complicated. Waves took another road, where things are simpler, very easy to add all functionality you need using plug-ins, don’t have to code complicated contracts.

waves vs eth

Waves intend to impact fiat currency transfers and crowdfunding markets on the blockchain. It also provides smart contracts, but they are unlike the Ethereum ones.

Here, smart contracts are written by built-in plug-ins, making the entire process easier.

Waves make certain things simple by using plug-ins; things which if done on Ethereum, could be very lengthy and complicated.

However, there are significant differences between both cryptocurrencies and technologies.

Use Cases and the Future of Waves

Some of the use cases which are being built or are already in production:

With many more innovations on the way, the future looks promising for Waves.

Waves are now hovering around the top ten cryptocurrencies by market cap, with each unit price still cheap when compared to ETH.

Also our focus is on mass adoption, we’re specifically target two markets : fiat transfers on blockchain and crowdfunding on blockchain. They are very ripe for disruption, and we’ll be offering a product for a very general audience, basically the main end-user client is just a plugin you can install from Chrome or FF store.

Time of Transaction

In main net 1.0 ~ 30 sec. after that there’ll be a fork, the transactions time will lie in 1 sec range. don’t want to have it at launch, first the focus is on custom tokens, decentralized trading etc. for 1 sec tx’s some new POS is going to be implemented, LPOS, where lite node choose a full node to lease their balance to, they still receive the rewards, but the transactions become much faster due to the fact that only full nodes process them effectively.

Waves VS Bitshares/OpenLedger

OpenLedger is based on the BitShares’s “market peg” idea. BitShares differs from WAVES in two fundamental ways. First, its consensus algorithm is DPoS, meaning that only a given number of “delegates” have the power to validate blockchain transactions, as opposed to the PoS consensus where each full node is accredited for validation.

This means that the WAVES platform supports full decentralization whereas BitShares team is not taking a step out of their “delegated” version. The second difference is the feasibility of the “market peg” approach. This is of course open to discussion, but one may objectively evaluate the success of that approach by looking at the history of their most praised market pegged crypto-asset, namely, BitUSD.

I doubt if any big corporation in the future will ever decide to rely on the idea “if everyone thinks something is worth 1 USD, then that thing is forced to be worth 1 USD.” All current colored coins implementations have severe limitations.

Obviously Bitcoin blockchain based tokens won’t work due to 10 min confirmation times. In Ethereum it’s quite difficult to create a decentralized exchange. Openledger is a web-interface to Bitshares blockchain actually, it’s not a colored coins protocol.

Waves are focused specifically on custom blockchain tokens. Our vision is very different from Bitshares vision, for example. Personally I don’t think that pegged assets is a viable idea. We want to do for blockchain tokens what Ethereum is doing for Bitcoin scripting — make it perfect.

Light Client

Light client will be available, but in testnet only for the first few months. So you can trade ICO tokens in exchanges once ICO finishes, but not stake with them yet. The crowdfunding tokens can be traded at decentralized NXT Asset Exchange and centralized exchange partners before the Mainnet launches. After its launch they will be converted to corresponding WAVES balances.

Waves and Ripple

Waves is similar to Ripple in only one thing — approach to handling fiat. As in Ripple fiat assets will be backed by third-parties, payment systems, and banks. We will have fiat tokens on our blockchain right at launch, talking to several payment systems now about it.

Waves As A Platform

Waves is a decentralized platform, in the same sense as Bitcoin, blockchain where different kinds of transactions can occur. When mentioning “brokers” I meant different blockchains where you can issue asset. Imagine you have a token on ETH platform and would like to move this token to BTC colored coins.

It would be great to have a protocol for this. So we will try also to create a protocol for token/asset transfer between blockchains. Assets issued on NXT or ETH can be transferred to ETH.

Waves - No Proof-of-Work

Proof of work might be more secure in theory, but I still consider it to be not the most elegant solution to consensus problem, due to wasted computational resource. Something better will come, I’m sure about that. Meanwhile POS is the way to go.

Waves POS

There’s a very interesting development in this direction now, which James (jl777) is pursuing with BTCD — Sidechains secured by assets. So an asset can secure its own chain. If you secure the whole network with assets you may face some problems, the most obvious is asset issue is not limited, there can be quasi-infinite amount of issued assets.

What I plan to do with POS is to start with a plain NXT-like one, and then upgrade it to some kind of more robust. A bit similar to delegated POS but the tech will be very different.

To be frank I consider classical POS good enough for all intents and purposes. Nothing at stake arguments are more of purely theoretical nature.

Waves VS NXT

Waves will be platform with emphasis on custom token creation, transfer and decentralized trading, with deep fiat integration, focus on crowdfunding, community-backed projects and mass adoption.

Fiat assets will be backed by third-parties, payment systems, and banks. Fiat tokens on Waves blockchain will be right at launch.

One of the goals will be also to create a protocol for token/asset transfer between blockchains. Imagine you have a token on NXT, ETH platform and would like to move this token to BTC colored coins or Waves blockchain.

Assets issued on existing blockhains will be able to be transferred if protocol is implemented on both sides and you can enjoy then features of many blockchains at the same time.

All assets will be able to migrate to the other blockchains, not only to Waves but also to Btcd blockchain, even to Btc after asset protocol is implemented in the code on the both sides. For example you will be able to migrate specific amounts of your assets to different blockchains at the same time and use features of SuperNET also.

Waves blockchain will be “cooperating”(two-way transfer) all the time with all blockchains which implement new asset protocol.For the blockchains that don`t implement it, it will be one-way and one-time transfer only.

Waves will be the fuel for everything in the platform, there will be options to ‘pay these fees’ with another currencies also, but in the background, everything is done with Waves.

Revenue streams — by trading tokens which are backed by unique tech, fiat tokens and usage of the platform potential, full fledged crypto crowdfunding platform potential, mass adoption potential, financial license potential, project who would like to be on the waves platform will have to have some tokens most probably, full nodes incentives.

WAVES is colored tokens blockchain platform, like NXT, having its own blockchain and integrated decentralized exchange. Our unique selling point compared to Kickstarter is the ability to exit your pledge.

If you pledge some funds at kickstarter you have to wait for your product, you can’t transfer it to another user for example. Also you can start a campaign much faster on Waves then on Kickstarter, there are no moderators who approve your campaign. Of course the fees are much lower too, basically the fees are zero, compared to Kickstarter fees.

All current colored coins implementations have severe limitations. Obviously Bitcoin blockchain based tokens won’t work due to 10 min confirmation times. In Ethereum it’s quite difficult to create a decentralized exchange. Openledger is a web-interface to Bitshares blockchain actually, it’s not a colored coins protocol.

We are focused specifically on custom blockchain tokens. Our vision is very different from Bitshares vision, for example. Personally I don’t think that pegged assets is a viable idea. We want to do for blockchain tokens what Ethereum is doing for Bitcoin scripting — make it perfect.

NXT is cool, we’ve been involved with NXT for a long time. But right from the start its development has been hindered by such problems as a really unfortunate initial distribution, changing developer teams, strange development decision.

A moment came when I realized that it’s time to make things right, from scratch. It will be much more effective, and even faster. And of course I’d never fork NXT.

The devs will buy their own tokens. Also please understand a crucial point here — we need a good distribution for a POS coin. I’ve seen what poor distribution can lead to, as in NXT case. The more stakers you have the better for the network.

Waves Token

Waves token is the fuel for the whole platform and all operations happening there. When you are doing any of the things mentioned above Waves token is used, when you will be trading with other crypto currencies or fiat which will be represented there as tokens, Waves token will be used, when you are transferring assets, Waves token is used, when you are withdrawing asset in form of currency to your wallet, Waves token is used.

When someone is issuing the asset Waves token is used. When all other projects will be using Waves platform, the same Waves token will be used for all their operations. Other currencies will be just supported on the platform.

Yes we will be collaborating with entities that deal with bank directly and ultimately with banks themselves. Obviously there will be two ‘tiers’ of users, those that limit themselves to crypto transfers and the ones that will want to withdraw FIAT.

For the former group there will be no need to disclose any kind of personal information, but for the latter, obviously there will be a KYC step. This is very clear from day 1, this is not a super-anon-project but one that will in fact collaborate with entities like banks and facilitate them the access to blockchain tech.

Everyone can create colored coins or assets, but due to our (sometimes negative) experience in NXT environment where anyone can just pay a fee and create an asset we will be incorporating a reputation (karma) system where people with positive background will clearly have more reliability at the time of issuing assets. Anyone that purchase an asset/coin from a zero-reputation emitter, is under their own responsibility.

There are many things that we have in mind to offer ‘guarantees’ on cases like tokens or coins that are theoretically backed by physical (or other) assets, for example notarized documents (Proof of Existence) — This is still in early stages of development and represents a BIG gap to fill since we would have to go through legal systems and work together with licensed professionals, not an easy task, so in the very beginning the reputation system will be the most reliable way to know if an asset is just wind or something solid.

Waves are building it on top of Scorex which offers several advantages over BTC (or any other chain really) but we hope to have both testnet and the lite client working BEFORE ICO ends.

Waves token will be securing the network and all assets on the platform, but at the same time it will be the fuel of whole platform and all transactions happening there together with all transactions of new projects which are to be listed there, plus there will be incentives from the network itself, there will be new POS implementation when you will be getting rewards for having full node with balance or leasing balance to full node.

How To Get A Waves Wallet?

Popular Waves Wallets

Waves Resources

How To Buy Waves?

Buy Waves from Changelly

buy waves

The easiest way to buy Waves is to exchange it for BTC/ETH. This is a hassle-free way which will let you acquire some WAVES tokens.

You just need two things:

1. Your Waves address where you would like to get your WAVES tokens. That you can create one using official client here.

2. BTC/ETC/altcoin to exchange for WAVES.

Let’s say you want to exchange BTC for Waves:

buy waves

On the next page, you’ll see the exchange rate.

Note: If it asks you to make an account, you definitely should do that.

buy waves

On the next page, you need to enter the wallet address on which you wish to receive your transferred cryptocurrency.

In this case, we’re entering an XRP wallet address (that you can get using Ledger Nano S or Gatehub).

buy waves

Before Changelly gives you a deposit address, it will show you all the details. Don’t be in hurry & review all the information one more time.

buy waves

Here you will see the wallet address on which you need to deposit the cryptocurrency (in our case it’s 0.1 BTC).

buy waves

Once you have deposited the funds, it could take a few minutes to an hour to complete the exchange.

This is just an example of how to do this in XRP but still you can proceed with doing it in Waves also.

Buy Waves from Waves Wallet

buy waves
buy waves
buy waves

You can also buy WAVES using the Lite Waves Wallet or Lite Waves Chrome app. The process is the same for both of them.

Caution: Your seed will also allow you to import your account to other devices. This seed is critical and must be kept in a safe place since it’s the only way to recover your account in case of a lost wallet, corrupted data, or hardware failure.

Buy Waves from Shapeshift

buy waves

You can buy your first Waves by exchanging any supported cryptocurrency via Shapeshift. However, I prefer using Changelly for better exchange rates and a more detailed transaction history to track my funds.

If you need to know the step-by-step process of exchanging your cryptocurrencies for WAVES, see our guide on Shapeshift.

Note: Though this guide is for exchanging ETH for BTC. the process is exactly the same to buy WAVES.

You can also get Waves Cryptocurrency from exchanges. Currently WAVES is available on following two exchanges:

How To Earn Waves?

1. Waves Leasing

Coin Leasing is a another type of coins mining. Instead of needing those powerful but expensive GPU rigs to mine, you can lease (lend) your coins to the network mining nodes to secure the blockchain and you will get for that interest on your coins. And these guys give at the moment 100% of their earnings back!

2. Waves Faucet

Well, the guys from Waves want to give back from their earnings! There are Waves faucets where you get every 60 mined blocks (around every hour), up to 0.0001 Waves and most of the time a surprise coin from the waves network. It’s not much, but hey, now Waves is on the rise, it’s already passed 5 USD, who knows what one Waves coin might be worth in 6 months time!

Where To Spend Waves?

Waves work almost like any other blockchain based cryptocurrency with some unique features.

Waves convert the fiat currency to cryptocurrencies via fully licensed Gateways. This is then converted into WAVES, the native currency of the network. Once the send command is given, the number of WAVES is deducted from the sender and added to the receiver’s account.

The send command carries the amount to be transferred as well as the receiver’s wallet address. Smart Contracts can also be used to automate the transactions between different entities within the network.

Waves can also be used to create own tokens, using the underlying blockchain technology. Tokens are like personal currencies which can be used for crowdfunding projects or simply to pay for the services and goods within a particular project.

Why Waves?

Waves is a cryptocurrency, decentralised exchange and private token platform all in one. Obviously, the platform comes with several advantages.

What Is Waves Mining?

Waves is a decentralized crypto platform, based on an improved authenticated dynamic dictionaries scalability approach being built on top of the Scorex framework. The total supply of Waves tokens is 100 million, which were issued on the genesis block and distributed to users that participated in the ICO and/or bounty campaign. This token supply does not increase.

Instead, a combination of DPOS (Delegated Proof of Stake) and LPOS (Leased Proof of Stake) approaches will be implemented with the transaction fees being the reward for staking. Learn more about Waves

In a Leased Proof of Stake environment, users can choose to be a full node and use the mining power of other users to process transactions faster and more efficiency or to lease their mining power to a full node in order to receive transaction fees without having to run a full node. This system allows anyone to participate in the Waves network maintenance.

Waves can be mined through leasing on any computer or mobile device that has an internet browser since Waves provides a lite client solution that does not require "Miners", that are leasing their balance to store the whole Blockchain or to have the wallet running.

The leasing function is active and has been added to the lite client!

In the first part of the guide, we're going to show you how to lease your balance. (Windows)

We assume you already have a wallet address and are using the Waves Lite client. If you're not, you can install it here or use the browser version here. You'll need to have the Waves client installed in order to start leasing.

In order to lease your balance, you need a full node to lease to. You can choose between Wavesnode.net, Wavesnode.com, WavesGo, FountainPerpetua, BearWaves, WavesCommunityNode, WavesPool and LeasingWaves at the moment, although more pools will be available in the future.

Part 1 - Lease your Waves

Step 1: Open the Waves Client

Step 2: Enter your wallet seed/password and click "Log in"

lease waves

Step 3: Go to the leasing tab by clicking the "L" icon

lease waves

Step 4: Enter the Waves address you want to lease to. We're using the address from WavesGo node

lease waves

Step 5: Enter the number of Waves tokens you want to lend

lease waves

Step 6: Choose your fee which will determine the speed of the transaction

lease waves

Step 7: Lastly, click "Lease"

lease waves

Step 8: Check the details and click "Confirm"

lease waves

You can see the transaction by scrolling down

lease waves

Part 2 - Unlease Waves

Step 1: To unlease your balance, click "Options" icon on the transaction history as seen below

lease waves
lease waves

Step 2: Choose "Cancel Leasing"

lease waves

Step 3: Check the details and click "Confirm"

lease waves

You can see the transaction by scrolling down

lease waves

Latest Waves News

Waves to collaborate in “liquid democracy” applications

Waves platform will participate in the creation of a new form of blockchain-based voting system, characterised as “liquid democracy”.

waves liquid democracy

Waves code given clean bill of health by Kudelski Security

The security team conducted a thorough audit, concluding that there were no major security issues.

waves security