What is Waves (WAVES)?

A blockchain platform called Waves (WAVES) enables developers to quickly and simply build custom coins and decentralised applications (dApps). The Waves network, which was introduced in 2016, is intended to be simple to use and open to both corporations and private persons.

The History of Waves

The founder of Waves, Russian scientist Alexander Ivanov, established the company in 2016. The platform was developed to address the issue of making unique tokens for the blockchain. Users don't need to be highly technical or have programming abilities to produce and exchange their own digital items using Waves. Since then, the platform has developed to support dApps, smart contracts, and a decentralised exchange (DEX).

The Use Case of Waves

The Waves platform is flexible and user-friendly, making it suitable for a variety of applications, which is the use case. Waves allows companies and people to create bespoke tokens that can represent anything from equities to loyalty points. Users can trade tokens on the platform's DEX without going through a centralised exchange, giving them more autonomy and anonymity.

Smart contracts, which may be used to automate a number of business operations, are also supported by Waves. Smart contracts, for instance, can be utilised to develop safe escrow services, automate payment processing, and enable decentralised voting systems.