Digital currencies have evolved from just a digitized transfer of value to so much more. Any cryptocurrency that doesn't offer its users added incentive is slowly but surely phased out in preference to other more diverse currencies and platforms. Waves (WAVES) is one of the blockchain platforms that seeks to grab a share of the Ethereum-controlled crowd funding market as well as trading by means of tokens.
Crowd funding Startups have always sought investors who can inject them with capital in the early phases for development of their idea. In the past, Kickstarters took on this task and acted as intermediaries but they charged exorbitant fees and the terms of trade they have are sometimes not suited to the startups. The blockchain revolution has changed all this and given the people all the power. Blockchain platforms, especially Ethereum's are being used to raise funds for projects in what is referred to as Initial Coin Offering (ICO).
Waves (WAVES) seeks to position itself strategically to tap into this ever growing niche by simplifying the process even further. One does not need to learn any programming language to use the Waves platform and this will appeal to many, especially startups that are not involved in the technology sector. One can also develop smart contracts with Waves, but unlike in Ethereum, a knowledge of Turing is not a necessity.
Generation of tokens The process of developing a token, such as Ether for Ethereum and Strat for Stratis is a complicated process that requires the knowledge of advanced programming languages. Waves has however given the ability to create tokens to every user, whether they can program or not.
Using the Waves platform, you can create your own customized token which you can name whatever you choose. You get to decide even on the maximum level of division of your tokens i.e. the number of decimal places it can have. This will enable a more transparent and customized crowd funding process. Institutions can create these tokens for loyalty programs or even for a digitized voting system
WavesDex WavesDex is a decentralized exchange that is built on the Waves blockchain that allows for the exchange of any currency, be it Monero, Dash or Litecoin with another currency such IOTA, NEO or NEM. This is to curb the centralization of exchange processes which are only carried out by exchange platforms which are in essence just like banks. The goal of cryptocurrencies is to stop the centralization of financial processes and WavesDex provided the best solution. Centralized exchanges can also be quite expensive and tedious too. Their security can also not be guaranteed as has been repeatedly demonstrated with hacking attacks such as MtGox where close to $500 million was stolen.
Conversion to fiat currencies Even with the widespread acceptance of digital currencies, users still need to convert their digital tokens to fiat currencies for the day-to-day uses in the offline world. Waves facilitates this through its Fiat Gateways which allow any token, whether an established one like Monero or a self-made one, to be exchanged for fiat currencies of an equivalent value. Supported currencies include the US dollar, the Euro and the British pound.
Investing in Waves Cryptocurrency users now desire a simplified process for their online transactions and Waves offers just that. The customized tokenization is a ground-breaking idea that will put Waves light-years ahead of its competitors. With the developers promising even more features to come, such as a new and better user interface as well as a blockchain messenger, the sky is the limit for Waves. Waves has a current market capitalization of $572 million and this can only get higher as more users seek to take advantage of these unique features.