REPOST OF MY HOME WORK: Waves Platform - Crypto Academy S5W7 - Homework Post for @imagen

Is a good day to be part of the assessment which is given by my dear professor @imagen on the topic Waves Platform. It is really interesting, I believe you find my assessment interesting.

(1.) DESCRIBE THE LEASED PROOF-OF-STAKE (LPOS) CONSENSUS MECHANISM. WHAT ARE THE DIFFERENCES WITH PROOF-OF-STAKE (POS)?

Therefore to answer this question is that we all know that the decentralised platforme are always without intermediary, therefore there Is power governing the the entire system, hence since there are no intermediary to chechelo and verify transaction hence this call for the attention of the consensus protocol which as well known as the mechanism in place to carry out the assignment in the block validation, hence to active this we have to allow the proof of stake (PoS) and Proof of work (PoW) and many others.

Therefore based on the question asked, I can describe the proof of stake consensus as the mechanism as a kind of blockchain protocol as which those which are being selected to verify a block and as well validate the transaction are those set of people with the highest amount of token in possession, hence they are the only set if people required in this particular Protocol, therefore they are the ones that carry out the duty by validating and verifying transaction
There on the other hand as the question required, the leased proof of stake Protocol is a type of consensus mechanism whereby those have enough token in their possession are given the opportunity to make a share demand in the sense that they rent it out to the entire nodes, hence this process yield a certain beneficial interest reward for them depending on the percentage of token they offered as also defined what leased is all about in the dictionary, therefore there the consensus mechanism is found to take place in the Wave platform.

BENEFIT OF LPDOS
•Here on this protocol, with the least token in your possession can as well yield dividend, to be part of the interest is by leasing your token to the nodes.
•This is smart, faster since it requires the involvement of nodes.
•Hence another interesting thing about the Protocol is that it requires less energy since, hence do what many are expected to do.

THE DIFFERENCES OF PoS AND LPoS

LPoS
•In the lease proof of stake is that the token can be leased out and also, running of full nodes are allowed.
•The users with the least token are allowed to earn rewards from the block validation are expected to
• Here the chance of getting involved in the validation is by getting more individuals in place to lease there token to your node

PoS
•In the PoS you can as well make up by increasing the to become validator by buying more tokens.
• On this Protocol, the user with the least amount of token cannot be part of the earning of the block, since they sree not part of the validators.
• Here any node can as well manufacture blocks.

(2.) LOGIN AND EXPLORE WAVES.EXCHANGE. INDICATE YOUR FUNCTIONALITIES OR OPTIONS. WHAT ARE THE INVESTMENT MODALITIES THAT YOU OFFER TO YOUR USERS? SHOW SCREENSHOTS.

Therefore to access platform I used the following web address wavex. which lead me to a page to login and sign up as well, then I sign up

After that process then I have another page that asks me to sign up, meanwhile I used the email ass recommended.

And then I clicked the next and then I clicked and filled the form displayed, then I created an account.

And the the six digit code was sent to me to confirm
Then after that process I got a message for a successful account created .

Here are the screenshot of the above explained process

INDICATION OF THE OPTION

Then after registration , I proceed by logging in where I have the following options in wallet, investment, pools, trading and buy crypto.

WALLET
Here is provision where by a user save his asset, here has the deposit and as well the withdrawal transaction internal transaction and create a wallet as well

INVESTMENT

This assists in making investment and as well earning a token.

POOLS
This is a point a user stakes his tokens, which provides liquidity, here in the pool has the the following wax staking/boosting, dashboard, stats, governance, IDO, early birds

TRADING
Here the trader have the ability to place a trade with his asset with others, here the option here is the following spot, swap (DeFo) and swap (Waves/USDN)

buy crypto
Here users can buy crypto by making use of the credit cards or debit card hence the option available here is the buy USDN, buy bitcoin, buy waves, buy EGG and OT.

Here are the breakdown and screenshot
Wave is known as a decentralised exchange that gives the privilege to trade and as well to invest in crypto currencies, hence as it is a decentralised platform, it actually has the fitting of transparency and also does not actually demand know your customer (KYC) verification.

Hence the following are the main functions of it.

BUY AND SELL CRYPTO
actually more like other centralized exchanges which give you the allowance to trade crypto with that of your native token.

TRADE AND INVEST COINS
This actually gives you earning based on your investment and trading.

COMPLETELY DECENTRALIZED
Since It is decentralised, therefore you control your funds.

AVAILABLE ALL THE TIME
Based on its online incline, you can access it at your casual time.

Therefore in the network are the following features.
The "Buy crypto" option actually allows you to trade on the coins such as USDN, BTC,EGG, OTC etc. Hence in the screenshot shown there is space to input the amount and as well to select that of the native token.

Then the "Trading option" there is spot trade which is similar to that of the Binance exchange.

For the "Swapping features" this allows the swapping of the stable coins.

Then another is the "Pool features" which allows you to take hold of your token in that of the pool while you earn rewards. As shown are the number of pools in these wave platforms. Hence they all generate their income based on its APY.

The “Investment option” allows you to have insight towards the pool details meanwhile APY subscription period and also find earning opportunities with that of the Algo trading which offers the high APY.

Investment modalities available on this platform have the following liquidity pools, Algorithmic trading, LP staking and as well Lambo investments.

(3.) MAKE FROM YOUR ACCOUNT A PURCHASE OF WAVES FOR AN EQUIVALENT AMOUNT OF 10 USD FROM AN AVAILABLE EXCHANGE (BINANCE IS NOT ALLOWED) .
3.1) DESCRIBE THE PROCESS. SHOW SCREENSHOTS.
3.2) SHOW HOW THE PROCESS IS CARRIED OUT TO TRANSFER THE ASSET TO THE OFFICIAL WAVES PLATFORM. (THE DEMONSTRATION IS MANDATORY BUT THE TRANSFER IS NOT)

Hence I used a verified account to carry out this, the by having my par as
WAVES/USDT

Then I input my amount of USDT I want to use to buy the wave token then I proceeded by clicking buy

Then my purchase was successful
Then I make my transfer to the wave platform, then I visited my wave.exchange platform and copy out the wave address and I went back and apply for a withdrawal

Then I filled all the necessary requirements and clicked on with drawer as shown on the below screenshots.

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(4.) WHAT IS THE WX TOKEN? WHAT ARE ITS FUNCTIONS WITHIN THE WAVES ECOSYSTEM? WHAT IS YOUR VALUE AND MARKET CAPITALIZATION AT THE TIME OF WRITING YOUR POST? SHOW SCREENSHOT.**

The Wax token is known as the currency used for the governance in a decentralised platform known as the wave platform, hence the Wax token as native token operate on the Wave platform, hence this token can only be issued and not twice or more

FUNCTIONS OF THE WX WITHIN THE WAVE THE ECOSYSTEM
The function there is referred to as the use of the WX as a token within the ecosystem known as the Wave platform, hence the following are the functions.
•This is a recognized token used for trading on wave platforms and as well to exchange with other tokens.
•Hence this token WX has a normalised rate which is being used to pay out trading fees which is the gas fee for transaction on a platform.
• This token can as well be used to invest in a pool.
•The WX token can be locked up for a period of time and can still be retrieved back as the native token.
Therefore based on my exploration on the coinmarket cap as regards to the price, I found that is current price as of the time of the screenshot was $1.80

Hence to achieve this I have to visit the web address Coinmarketcap
Then as I mentioned above the current price is at $1.80, therefore the token is having a percentage decrease of 3.19% and with market capitalization of 12,276,796 as shown on the below screenshot.

(5.) DESCRIBE WAVES DUCKS WHAT IS THIS PROJECT ABOUT? HOW IS IT ACCESSED? BE AS EXPLICIT AS POSSIBLE. SHOW SCREENSHOTS.

Wave is more like the digital platform platform where some one can stake and as well collect a non fungible token know as the acronyms (NFT), hence this is based on playing a game in order to gain virtual value creature like the Cats, Duck and many more, meanwhile all this can be breed or exchange with other things of equivalent value.

Hence on the side of the duck we can on the wave platform we have to be the egg token, therefore to have this egg token you have to make an exchange of Wave token with on recognized platform made for it, hence with the egg token an individual can used it to purchase the genesis duck, another good thing about this is that you can breed your duck to the extent when the there are rare, meanwhile at at moment is expensive to get, thereby making it so profitable when exchange at the period of time, hence the the duck can as well be used to farm the Egg tokens

•Therefore in order to get this done by having access to the wave Ducks, hence this can be obtained by visiting the web addressWaveduck then click on the bug bottom which commences you to "start the playing".

•At this point a page will show up telling you to sign in or login, therefore if you are new, then you are required to create an account by clicking sign up.

•Here you can now input your email address and as well great a strong password, then after that process then your account will be created for use.

Then you can now have access for the Wave Duck while you buy and breed them as well, including egg farming.

(6.) CONCLUSIONS

Therefore in conclusion the like of Wave has come to promote the entire globe with its features, meanwhile this has a greater future with the assistance of the consensus protocol which is known as the leased proof of stake with acronym(LPoS).

The Wave is spectacular and unique on its own based on its build up like that of the wallet, exchange platform of which token can be traded, hence this actually has its governance token as WAVE known with the acronym WX token.

Meanwhile gaming activities can as well take place on Wave ducks where by Non fungible tokens (NFT) can be bought in order to make gain and as well the EGGs token can be farmed as well

Therefore this is revolutionary.

Thanks to my dear professor
@imagen

am @kingworldline.

#imagen-s5week7 #cryptoacademy #club5050 #steemexclusive