What is Waves (WAVES)?

Waves is a blockchain network launched to facilitate the creation of custom crypto tokens and smart contracts for dApps without any programming experience, to which WAVES is the native token.

Launched in June 2016, the Waves network operates in LPoS (Leased Proof-of-Stake) consensus and aims to create a comprehensive compilation of decentralized open-source technologies. Its goal is to make the development of tokens and smart contracts easy, swift, and cost-effective with its developer-friendly native Ride language.

Participants of the Waves ecosystem receive block rewards and transaction fees in WAVES tokens. The current block reward in the Waves blockchain is 6 WAVES. However, the community of block generators can change this block reward through voting. Notably, the Waves token has an uncapped maximum supply.

How does Waves (WAVES) work?

The Waves platform allows individuals to create and deploy a new token in less than a minute. It only requires the user to enter some basic prompts and fill in fields like token name and supply. The users can create any new token by paying only 1 WAVE as the fee. Additionally Waves facilitates the trading of the tokens created on its blockchain on its decentralized exchange where traders can trade them against available trading pairs. The platform has created thousands of tokens.

The ecosystem of Waves also includes a decentralized exchange named Waves exchange, allowing users to trade their tokens, including WAVES, BTC, and assets issued on the Waves platform. Other projects under Waves are a cross-chain oracle network, Gravity, and the DeFi-focused platform Neutrino.

The governance, new block generation, and verification process in the Waves platform follows the LPoS (Leased Proof of Stake) consensus. Under this variation of the PoS consensus mechanism, the Waves blockchain allows two types of network nodes: Full nodes and Lightweight nodes. While full nodes keep a complete history of the transactions, lightweight nodes depend on full nodes to confirm transactions and incorporate them within the network. The Lightweight nodes can lease their balance to full nodes earning a percentage of the payout when the leased full nodes produce blocks. Becoming a full node requires a minimum holding of 1000 WAVES. To become able to lease tokens to nodes, it requires only 0.002 WAVES.

The Waves platform uses the Waves-NG protocol to select the nodes for block generation. This protocol modifies an idea that was originally proposed for Bitcoin but was rejected. This protocol splits the blocks in the Waves blockchain into two types: Key blocks and Micro blocks. The randomly chosen miners create key blocks that do not contain transactions. However, a key block contains the public, through which the nodes can create micro blocks filled with transactions.

How to Buy Waves (WAVES) in India?

There are many platforms where you can invest and trade Waves (WAVES) in India.

One such platform is Flitpay. To buy Waves (WAVES) in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process.

After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Waves (WAVES) and execute the Waves (WAVES) purchase.

You can instantly convert your INR to Waves (WAVES) and Waves (WAVES) to INR and withdraw your INR through bank transfers whenever you want.

Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy Waves (WAVES)?

Waves (WAVES) can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like FLITPAY. You can also hold WAVES tokens till their price reaches a high price, and then you can sell them through the FLITPAY Quick Buy/Sell order facility. Users can earn significant profits from buying it at a lower price and selling it at a higher price.

If you wish to earn new WAVE tokens, you can do that by participating in the LPoS consensus mechanism of the Waves network. Each successful block generation in Waves gives a block reward of 6 WAVES.

WAVES token is also the most popular form of payment allowed in the Waves network. Any new token generation and utilization of other services by Waves also require the user to pay in WAVES tokens.

Why Use Waves (WAVES)?

Waves network is one of the most preferred platforms to create new tokens. It appeals significantly to businesses looking to launch multiple custom tokens for crowdfunding projects. A variety of successful platforms like Neutrino, Wx exchange, Swop Fi, Waves Duck, Puzzle swap, and Sign NFT marketplace are associated with Waves blockchain. A world of NFTs, DAOs, and other new business models is possible through Waves. The best thing about the Waves network is that the fee in WAVES is free for all services, except the network overload charges. Moreover, it makes the creation process of new smart blockchain-based assets and web3 dApps less extensive and efficient by eliminating the need to do smart contract programming.

FAQs

What is Waves (WAVES)?

WAVES is an ERC-20 token native to the Waves blockchain network. It is used to pay for services offered by Waves like token creation and launching smart contracts for dApps without any programming experience. Its holders can also stake it to earn network rewards.

What is the Waves (WAVES) price in India?

Check out the current INR price of WAVES crypto in India on Flitpay.

Which is the best platform to buy Waves (WAVES) in India?

The best platform to buy WAVES or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the benefits of Waves (WAVES)?

Waves network offers the most cost-effective generation of new tokens at a price as low as 1 WAVE token. It makes the process of generating new crypto tokens beginner friendly and fast. With the LPoS consensus approach, Waves maintains a minimal carbon imprint. It also offers swift transaction processing capacity that is useful for further scalability of any crypto project.

Is it safe to invest in Waves (WAVES) in India?

Yes, investing and trading WAVES is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges for buying Waves crypto. It offers real-time prices and advanced investing features.

Is Waves (WAVES) a Good Investment?

WAVES token has shown strong potential since its launch. By streamlining the process of new token generation and web 3-based dApps and Smart development, it continues to attract thousands of projects. Thus, it can be a good choice for investment. However, the token is highly volatile and subject to market risk. Therefore, one has to be extremely cautious before investing in it.