Price pumps are always exciting. Despite the market volatility, WAVES has been making waves in the crypto space.
But what exactly is Waves and why has the token’s price been pumping?
And let’s cover that in this article. If you prefer a video, then check out my video as I talk about Waves.
Who founded WAVES Blockchain?
Waves was found in 2016 by entrepreneur Sasha Ivanov. Sasha established the Waves platform AG, which is a for profit company and is headquarter is in Moscow. The purpose of the company is to drive and fund the creation of blockchain.
What is the WAVES Blockchain?
Waves is a smart contract blockchain that is designed to enable users to create and launch crypto tokens. Waves allows crypto tokens to be customize and created without the need for smart contract programing. And instead, it can be managed through scripts that runs on user accounts that are on the waves blockchain.
The design of the waves blockchain is to have these assets to be tradable and used within the Waves ecosystem. And, they do this by building their own decentralized exchange called Waves Exchange which is used to trade tokens on the waves blockchain.
Who is building on the Waves blockchain?
Teams building on the Waves blockchain:
- Neutrino Protocol — a platform that allows stablecoins to be mint and pegged. The stable coins on Neutrino are backed by the Waves asset.
- Waves Exchange — a trading platform where users can trade plus provide liquidity and stake their tokens on the platform to earn rewards.
- Swop Finance — a AMM automated market maker for trading pairs.
- Vires Finance — a DeFi Lending protocols on the waves blockchain and on this platform, you can supply and borrow assets. Currently there’s over half a billion in total assets locked on the Vires Finance platform.
- Waves Ducks — a NFT Gaming focused on collectibles
- Sign — a digital marketplace for NFT
Why has Waves been pumping?
There’s probably many reasons to why the price of WAVES have been pumping. However, I believe the biggest reason is Waves 2.0.
Waves 2.0 comes with more features and key points.
- Wave 2.0 will have new consensus model called Practical Proof of Stake Sharding (PPOSS)
- Waves 2.0 will be EVM (Ethereum Virtual Machine) compatible — EVM compatibility is important because EVM makes Waves more accessible by external teams.
- Open collective new governance model — Change in the DAO framework. Today the DAO model is moving towards crowdfunding and one of the main problems is the lack of success evaluating. Waves 2.0 believe that DAOs contributing to success should receive additional benefits.
- Cross-chain Finance — Gravity Bridges and Universal Bridge Integration, these integrations will allow assets to move in and out of the Waves ecosystem.
- Meta — A bridge between Digital Worlds, Level 0 inter-metaverse protocol
- US company and Accelerator — $150 million fund to bring US developers to come onto the Waves ecosystem and build.
Waves have been pumping due to the project announcing a $150 million fund. In addition to this, Waves 2.0 being EVM compatible will bring an influx of developer teams to come over to build on Waves. EVM allows easier migration of codes from Ethereum onto Waves. From historical patterns, EVM compatibility brings in developers, developers brings in apps, and apps bring users and users bring assets.
Project Timeline
Overall
There’s a lot of things coming in 2022 for Waves and this year will be exciting. Waves made a critical move to compete with other smart contract blockchains by becoming EVM compatible. In addition, the announcement of a US fund will bring in more developers and users will eventually follow once apps are built. However, Waves target was strictly pointed towards the US market. This leaves out a large part of the developer market that is available world wide.
Regardless, moves like this makes investors excited; therefore, price movements are a reflection of the excitement.
However, I do want to express some concerns. With all the sanctions on Russia, I do want to advise caution, this is because Sasha Ivanov is the founder of Waves and the Waves platform AG is headquartered in Moscow. Waves Labs is also another team working on Waves and have been headquartered in Miami, Florida, but with the sanctions, there might be some limitations going forward and investors should be cautious before making investing decision.
This article is not financial advise and is for education and entertainment purpose only.
