What is Waves (WAVES) Waves is a multipurpose blockchain platform that supports various use cases, including decentralized applications (DApps) and smart contracts. Launched in June 2016 after one of the cryptocurrency industry's first initial coin offerings (ICOs), Waves initially set out to improve early blockchain platforms by increasing speed, utility, and ease of use. The platform has undergone several changes and has added new derivative functions to develop its original design. Waves native token is WAVES, an unlimited supply token used for standard payouts such as volume rewards. Who are the founders of Waves? Waves represents its founder, the Ukrainian scientist Alexander Ivanov (also known as Sasha Ivanov). Before creating Waves, Ivanov was already active in the cryptocurrency space, having launched the now-defunct Coinomat instant exchange and indexing site, Cooleindex. He also created an early version of a stablecoin, CoinoUSD, pegged to the US dollar. Ivanov is publicly active in his promotion of Waves, giving frequent interviews about the platform and trends in the broader blockchain industry. According to Waves marketing literature, the company now employs more than 180 people in locations including Moscow and Switzerland. What makes Waves unique? Being one of the first offerings in its field, Waves set out to improve on early blockchain platforms and products. From the beginning, their goal was to attract potential business customers who wanted to use blockchain to improve processes or create new services. Waves supported the development of smart contracts and DApps, ensuring that the speed and ease of use surpassed the competition at the time. Since then, other products have appeared, including Gravity, a cross-chain network and Oracle, and the Neutrino platform focused on decentralized finance (DeFi). Waves DEX is a decentralized cryptocurrency exchange. In 2020, Waves announced that its platform would be interoperable with the Ethereum network by launching the WAVES token as an ERC-20 standard asset. Related Pages: Learn more about Ethereum (ETH) here Learn more about Cardano (ADA) here New to Crypto? Find out everything you need to know with Alexandria, CoinMarketCap's dedicated educational resource. How many Waves Coins (WAVES) are in circulation? WAVES was born as a fixed cap token for the Waves platform with 100 million tokens available. In their ICO, which raised 30,000 BTC, 85% of the supply went to sale participants, 4% to partners and supporters, 9% to developers, and 1% each to early supporters and schemes of rewards that occurred after the ICO. Its usefulness has been increasing over time, and in 2019 it was decided to eliminate the supply limit, transferring decision-making to network participants. Currently, the block reward is 6 WAVES and any change happens in the form of votes: users must choose whether to reduce the block reward by 0.5 WAVES per 110,000 blocks. How is the Waves network protected? Waves uses a modified proof-of-stake algorithm called WavesNG. The technology is based on Bitcoin-NG, a scaling proposal from well-known Bitcoin proponent, Cornell University developer Emin Gün Sirer. Waves notes that its code is open source, allowing for greater reliability and ease of use. maintenance than enterprise blockchain solutions. source. Where can you buy Waves (WAVES)?WAVES, as a cryptocurrency on the market for more than four years, is widely tradable on a large number of exchanges. The pairs trade between WAVES and other cryptocurrencies, stablecoins, and fiat currencies. Volumes are highly distributed, with Binance and Huobi Global among the largest market locations. Beginner in cryptocurrencies? Read our easy guide to buying Bitcoin or any other token.