Waves Coin: A staking coin rewarding users for leasing their coin as well as a coin than enable easy creation of new tokens

By QuintoTrader | Crypto Street | 26 Aug 2019


            WAVES COIN.png  

 

Waves coin is a native cryptocurrency created on waves Blockchain network platform whose transaction takes place from one peer to another without involvement by the government thus is being considered to be a decentralized asset. Waves coin was mainly created to enable different assets to be created on its Waves blockchain network platform. Waves coin was also created to enable easy exchange of the created token to waves coin on its native decentralized exchange as well as staking thus the stakers get rewarded for securing the waves platform network with interest after a given period of time.

Waves   transaction 

Waves transaction takes place on the waves blockchain explorer based on block height and timestamp. To view how the transaction takes place at waves blockchain explorer, simply follow the link below;

https://wavesexplorer.com/  

Date Launched  

waves was created in 2017 with the main objective of becoming a staking coin as well as allowing easy creation of new asset on the wave blockchain. It was also created to enable easy exchange of token without the involvement of centralized exchange

Founder Of waves

waves cryptocurrency was created by  Alexander Ivanov who is a blockchain technologist guy with the main objective of allowing easy creation and distribution of other tokens on its blockchain as well as allowing users to stake their waves coin in order to secure the waves blockchain network thus in return they earn interest after a given period of time.

  Process of creating Waves coin

Unlike cryptocurrencies like bitcoin and Ethereum which are proof-of-work thus are created through the mining process in the presence of power and internet, for Waves coin, that is not the case, instead, Waves coin was created to become a proof-of-stake coin. Although all the waves coin were released during its Initial Coin Offering stage, still there is a need for staking in order for the network to be secured. You can either become a solo staker which is less rewarding or you can join a staking pool to increase your staking reward. The more your staking the more your reward. As a pool staker, You can lease your waves coin to supernodes for a given period of time. The leasing period ranges from weekly to yearly basis. You can earn up to 7% per year by leasing your waves coin. The supernodes will use your leased coins to validate transactions taking place on the waves network. To become a supernode, you need to have a minimum balance of 1000 waves while to lease your waves coin to the supernode, there is no minimum requirement.Here is how the staking process looks like;

  waves staking process.png    

 

Maximum circulation of Waves coin

The maximum supply of Waves coin that is expected to be circulating in the waves blockchain Network should be 100,000,000. All of these amounts were released during its Initial Coin Offering stage.15 million coins were released to bounties hunters as well as to the team members and early backers while the remaining 85 million coins to other ICO participants. 

waves coin  Price

Currently, 1 waves coin is worth more than $1.3 and its price is expected to increase over the next period of time.Waves coin is being abbreviated as waves.  

Converting my Waves coin to other cryptocurrencies

To convert your Waves coin to other cryptocurrencies such as bitcoin and Ethereum, you need to have a cryptocurrency exchange account. If you don't own one then you can follow the link to open a cryptocurrency exchange account for easy conversion of your Waves coin to bitcoin or Ethereum.   https://www.binance.com/?ref=10776203    

Storing my Waves coin

To store your Waves coin, you need a waves coin wallet. You can either store online or offline. To store your waves coin online you can download the wallet or can use other online wallet supporting waves coin like Coinpayment or the Waves decentralized exchange. To secure your waves coin from being stolen by hackers, you can download waves cold storage wallet like the Ledger Nano.

  Transferring my Waves coin to other Users

If you want to transfer your Waves coin to another user, the two of you must have trust in each other. The trust should be the Waves coin address provided for the receiver while the sender must have the Waves coin balance in their account to send to the receiver. For the sender, a blank space to insert receiver address and another blank space to insert the amount to send to the receiver is indicated. Here is how it looks like;    

WAVES SENDER.png

WAVES RECEIVER.png    

Knowing more About Waves coin

If you feel that you need to learn more about Waves cryptocurrency, then you can follow them on their site. Here is the link redirecting you to Waves platform website 

https://wavesplatform.com/    

Now that you know, I think that it is time for you to start earning some Waves cryptocurrency by staking them thus validating the transaction taking place on the waves blockchain. The more you stake the more you earn. If you feel that I should also own some Waves coin for helping you to know about it then here is my waves  address;  

3P9EqCbGa2ctygMjwSLXer7ZDjKpHRN9W4A

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QuintoTrader
QuintoTrader

Trader, Blockchain Technologist and Contentpreneur. Also founder and CEO @ Quinto Trader


Crypto   Street
Crypto Street

Crypto Street provides knowledge related to cryptocurrencies, tokens and blockchain technology. The knowledge consists of different cryptocurrencies with passive income, crypto mining, crypto staking and many more.

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