Waves Platform: What’s all the hype about?
The Waves Platform has officially been launched and will be available on exchanges as soon as they can integrate it in their system. (nop, “Yoshit” doesn’t count).
Waves ICO raised over 29.636 btc, which were exchanged for 85 million Waves making it the third most successful ICO so far. Waves has joined the ranks of projects like Ethereum and The DAO.
The ICO went smoothly and so did the Waves lite client introduction, it was launched on the 10th of June and I even wrote a small guide on how to withdraw your tokens, which you can check out here: https://steemit.com/altcoins/@kanoptx/alt-wars-episode-i (and still… someone actually managed to put their home address on the wallet address field...)
So why is Waves relevant, in what seems to be an endless ocean of “new” payment systems that are just another rip off what was once a revolutionary concept? Lets find out:
Waves is a decentralized multi-purpose exchange platform. Based on NXT’s colored coin technology, Waves was built completely from scratch and it’s the first production system being built on top of the Scorex framework. Waves addresses some of the major issues with the NXT platform (Like mandatory updates), while filling the demand for a stable Blockchain currency for investors, kickstarters and regular users.
Waves platform allows the creation, issuance, transfer and Exchange of assets and custom tokens, most noticeably fiat tokens which allow users to transfer fiat currency over the blockchain without any volatility.
Waves liteclient will also feature a Portfolio to keep track of all your assets (which can be Exchanged for fiat and crypto currencies and other assets), a voting area to facilitate conensus on various projects and a messaging center.
Waves plans to be a K.Y.C & A.M.L (Know Your Customer & Anti-Money Laundering) Platform, in order to form bank partnetships. Banks will provide a gateway for fiat currencies to be deposited and withdrawn from. The first partnership made and disclosed by waves is the reputable wallet provider, Mycelium.
Waves will not be the next technological revolution to follow Ethereum, but it is a tool with the potential to be widely adopted by users, since it provides a “simple”, but useful service.
Missed the ICO? Want Waves badly? Well, you’ll have to wait a couple of days, while exchanges integrate it in their system. It is also possible to earn waves through LPoS (Leased Proof of Stake) mining, but you need to have Waves in your wallet in order to earn Waves this way.
Users can run a Masternode to maintain the network, while others can lease their waves balance to the nodes, allowing users that can’t run a masternode to profit from this system. Waves is a fully premined, which means all the rewards come from Transaction fees.
For those of you that do have waves, you’ll need to wait for the Tech Paper to be released before being able to stake them. Should I write a guide on how to stake Waves, once the Tech Paper is out? let me know in the comments.
Links:
ANN Thread: https://bitcointalk.org/index.php?topic=1387944.0
Website: https://wavesplatform.com/
Blog: https://blog.wavesplatform.com/@wavesplatform
Slack: https://wavesplatform.slack.com/
If waves is going to be KYC/AML with bank-backed "pegged" assets, it's not a decentralized cryptocurrency. It's just another way to send money electronically through a centralized system. I see locked accounts and typical bank shenanigans with this one. I hope everyone who bought in the ICO makes a profit, but I really hope this project fails because it's going to end up as another typical banking scheme to suck money from account holders.
From what I remember hearing, there's no need for Waves to be KYC. The companies they will be dealing with are already KYC compliant. I believe it's discussed around 21:50 and 25:40.
"it's not a decentralized cryptocurrency" it is, but I get what you mean.
I checked the lite client yesterday, it is really fast. I had some waves but my share shrank to almost 1/3 of what it was due to more people buying if i got it right a couple of weeks ago.
yes, unlike the DAO where tokens were created according to Eth sent, Waves had a finite number of coins to be sold. the first guy to send btc had 85M coins at some point (in theory) xD
I had read about this in the Bitcointalk forum or Slack channel - it seems that the number of Waves shrank as more were sold, but apparently the value was supposed to adjust accordingly - increasing in value while decreasing in quantity, to balance out.
I have not verified this is the case, though this is what the Waves team were publicly claiming...
Let me know when I can sell :D
I'll make a "SELL NOW" post for you xD
Wasn't this supposed to be available to trade today, the 14th? From what I can gather it was only just given to some exchanges today to integrate.
It is available. exchanges need to integrate it.
A follow up article on how to stake waves once the tech paper is out would be wonderful. Instead of tons of trial an error I'd like to have an actual decent walkthrough on how to use some of this technology. So anything you put together, I'd sure be thankful for..
will do!
Regarding Scorex, the underlying technology of Waves, here is what Charles Hoskinson thinks of it:
Source:
https://bitcointalk.org/index.php?topic=1434851.msg14535100#msg14535100
https://bitcointalk.org/index.php?topic=1434851.msg14535677#msg14535677
thx for sharing!
"All of this does not change the fact that Waves currently has no product, does not have a stable governance structure, has no independent oversight of the project. They are using source code written by other people and in no way configured to do the things they have claimed."
this is true, and it will be so until it isn't ;)
While Waves are talking about it, Ripple has been laying the foundations and infrastructure for years...
https://ripple.com/technology/
that's how it works, IMO. evolution... not saying waves is ripple 2.0. but ripple came first so if they weren't "laying the foundations" they would be doing something wrong...
Interesting blog. Thanks for bringing this to my attention. What if you give somebody a lot of money, they are less likely to work hard, smart and fight for their secure future. Starting a business is simply not easy. Companies have fight and go through the darkest times to get there. Starting of with a big bunch of money that most of this icos don't have simply doesn't help. Personally I always use: https://www.coincheckup.com Since I use this site I make so much less basic investment mistakes. Check: https://www.coincheckup.com/coins/Waves#analysis To see the: Waves Detailed report
CoinStarter is currently offering 15 free tokens for signup at the moment.
It is based on the Waves platform: CoinStarter
If anyone knows of any other free Waves based token giveaways please let me know.