Waves (WAVES) is a cryptocurrency made by Alexander Ivanov in 2016. It is a decentralized blockchain platform that allows users to launch their own cryptocurrency with crowdfunding capabilities. It also offers a complete Decentralised Exchange (DEX) and has smart contract capabilities.
The Waves Platform was launched after a $16 million ICO. It was intended to move payment systems and crowdfunding to the blockchain and is often referred to as a decentralized version of Kickstarter. The platform is designed so that users can create their own customized cryptocurrencies and projects in a matter of minutes,allowing the capability to crowdfund their project like an ICO. The Waves blockchain also allows for smart contracts that are powerful and secure.
WavesDEX is a decentralized exchange built on top of the Waves blockchain. The decentralized exchange allows users to trade common cryptocurrencies such as Ethereum and Bitcoin against WAVES. The WavesDEX also has fiat gateways in which users that comply with KYC are able to deposit and withdraw fiat currencies such as USD, EUR and JPY. Perhaps the most important feature about the WavesDEX is that it is completely decentralized. This means that when a user creates an account, they are not required to send their funds to another party to hold. Instead, the platform will create fresh keys for the users to keep stored and secured, giving the user the sole responsibility for their funds on the exchange. This is an extremely important feature as it circumvents the possibilities of hackers targeting exchanges which typically results in users taking the losses.
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