{"id":4569,"date":"2018-10-23T09:28:54","date_gmt":"2018-10-23T16:28:54","guid":{"rendered":"https:\/\/coincentral.com\/?p=4569"},"modified":"2021-09-30T12:22:53","modified_gmt":"2021-09-30T16:22:53","slug":"waves-platform-beginner-guide","status":"publish","type":"post","link":"https:\/\/coincentral.com\/waves-platform-beginner-guide\/","title":{"rendered":"What Is the Waves Platform? | The Ultimate Guide"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Waves is a <a href=\"https:\/\/blog.wavesplatform.com\/waves-whitepaper-164dd6ca6a23\" target=\"_blank\" rel=\"nofollow noopener\">blockchain platform<\/a> you can use to <strong>create your own custom token<\/strong>. Whether you want to crowdfund a project, build out a loyalty rewards program, or create an in-app currency, the Waves platform may be worth looking into.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to its <a href=\"https:\/\/wavesplatform.com\/\" target=\"_blank\" rel=\"nofollow noopener\">website<\/a>, you can create your own token in as little as one minute (but you may want to take some time and have a good plan on how you\u2019re going to use it first).\u00a0<\/span><span style=\"font-weight: 400;\">Waves also includes a <strong>decentralized exchange (DEX)<\/strong> in which you can trade your newly created coin in a trading pair with any other Waves token.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this Waves platform guide, we\u2019ll talk about:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"#how-does-waves-platform-work\"><span style=\"font-weight: 400;\">How Does the Waves Platform Work?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#waves-token-architecture\"><span style=\"font-weight: 400;\">Waves Token &amp; Architecture<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#waves-platform-history\"><span style=\"font-weight: 400;\">Waves Platform History<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#waves-trading\"><span style=\"font-weight: 400;\">WAVES Trading<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#where-to-buy-waves\"><span style=\"font-weight: 400;\">Where to Buy WAVES<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#where-to-store-waves\"><span style=\"font-weight: 400;\">Where to Store WAVES<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"#additional-waves-platform-resources\"><span style=\"font-weight: 400;\">Additional Waves Platform Resources<\/span><\/a><\/li>\n<\/ul>\n<h2 id=\"how-does-waves-platform-work\"><span style=\"font-weight: 400;\">How Does the Waves Platform Work?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To put it simply, new tokens that you create and transfer using the Waves platform are done so as <strong>attachments on blockchain transactions<\/strong>. There\u2019s an inherent problem with this strategy, though. Using the typical blockchain protocol, as seen in <a href=\"https:\/\/coincentral.com\/what-is-bitcoin\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a>, the network client software needs to update with each new transaction type. This update is more commonly known as a hard fork. As we&#8217;ve seen through blockchain history, hard forks come with a significant number of risks and a large amount of work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To prevent this, Waves implements new transaction types through plug-ins as an extension on top of the core software. That way, even if a client is missing the plug-in, it can still relay the custom transaction through the network. They can effectively still participate in the network without updating their software.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are a handful of features included in the core Waves software:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Custom Application Tokens (CATs)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Decentralized exchange (DEX)<\/span><\/li>\n<li>Smart Contracts<\/li>\n<\/ul>\n<figure id=\"attachment_14441\" aria-describedby=\"caption-attachment-14441\" style=\"width: 1629px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-14441\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface.jpg\" alt=\"waves platform interface\" width=\"1629\" height=\"1119\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface.jpg 1629w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface-591x406.jpg 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface-621x427.jpg 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface-300x206.jpg 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface-768x528.jpg 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface-655x450.jpg 655w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface-610x419.jpg 610w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-platform-interface-600x412.jpg 600w\" sizes=\"(max-width: 1629px) 100vw, 1629px\" \/><figcaption id=\"caption-attachment-14441\" class=\"wp-caption-text\">Waves Platform Interface<\/figcaption><\/figure>\n<h3><span style=\"font-weight: 400;\">Custom Application Tokens (CATs)<\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><strong>The primary focus of the Waves platform is in the creation and transfer of custom tokens<\/strong>. You can <a href=\"https:\/\/www.waveswiki.org\/index.php?title=Tutorials:_How_to_issue_a_Token\" target=\"_blank\" rel=\"nofollow noopener\">create a token<\/a> directly through the\u00a0<a href=\"https:\/\/chrome.google.com\/webstore\/detail\/wavesliteapp\/kfmcaklajknfekomaflnhkjjkcjabogm\" target=\"_blank\" rel=\"nofollow noopener\">lite client<\/a>\u00a0which is available <a href=\"https:\/\/client.wavesplatform.com\/\" target=\"_blank\" rel=\"noopener\">on the web<\/a> as well as both <a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.wavesplatform.wallet\" target=\"_blank\" rel=\"nofollow noopener\">Android<\/a> and <a href=\"https:\/\/itunes.apple.com\/us\/app\/waves-wallet\/id1233158971?mt=8\" target=\"_blank\" rel=\"nofollow noopener\">iOS<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The tokens that you create can be bought, sold, traded, and transacted all without a middleman. Because you can customize the coin, they can represent whatever you want. Although you may not get as much token functionality as you would on another platform, like Ethereum, using Waves is infinitely easier and requires zero coding knowledge. This ease-of-use makes the Waves platform ideal for crowdfunding, simple ICOs, and loyalty programs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>It costs 1 WAVE to create a custom token<\/strong> &#8211; about $2.00 at the time of this writing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The use of the platform has grown substantially since launching. Since December 2017, the number of custom tokens issued using the Waves platform has grown from 7,000 to almost 20,000 CATs.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Decentralized Exchange (DEX)<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Decentralized exchanges reduce many of the risks associated with using a typical, centralized exchange. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Because your funds are stored <strong>directly in your wallet<\/strong>, there\u2019s almost no chance of the DEX being hacked. Additionally, decentralization means that there\u2019s no administrator to freeze your funds or limit your trades and withdrawals. You have complete control of your account.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Waves\u00a0<a href=\"https:\/\/blog.wavesplatform.com\/what-is-waves-dex-7c311d1360a1\" target=\"_blank\" rel=\"nofollow noopener\">DEX<\/a> uses an automated matcher to pair buy\/sell orders and exchange the tokens when orders are fulfilled.<\/span><\/p>\n<figure id=\"attachment_14443\" aria-describedby=\"caption-attachment-14443\" style=\"width: 1148px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-14443\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54.png\" alt=\"Waves DEX Highlights\" width=\"1148\" height=\"634\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54.png 1148w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54-591x326.png 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54-621x343.png 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54-300x166.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54-768x424.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54-815x450.png 815w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54-610x337.png 610w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2018-10-23-10.26.54-600x331.png 600w\" sizes=\"(max-width: 1148px) 100vw, 1148px\" \/><figcaption id=\"caption-attachment-14443\" class=\"wp-caption-text\">Waves DEX Highlights<\/figcaption><\/figure>\n<p>As you can see, the Waves DEX excels with low fees (&lt;$0.01 per trade order) and numerous gateways. Other than the standard ETH, BTC, and WAVES gateways, the DEX provides on\/off ramps for ZEC, XMR, and other cryptocurrencies as well as some fiat options like USD and EUR.<\/p>\n<p><span style=\"font-weight: 400;\">Although you need to provide KYC\/AML information to use the fiat gateways, all crypto-to-crypto orders on the DEX are completely anonymous. To help with usability, the Waves team performed a complete update to the DEX&#8217;s interface in July 2017.<\/span><\/p>\n<h3>Smart Contracts<\/h3>\n<p>In September 2018, the Waves team implemented the first set of <a href=\"https:\/\/blog.wavesplatform.com\/smart-accounts-finally-activated-on-waves-mainnet-8bb7c7b67beb\" target=\"_blank\" rel=\"noopener\">smart contract functionality<\/a> on the platform. The new features include &#8220;multi-sig addresses, token freezing, atomic swaps, voting, and Oracles.&#8221; The smart contracts utilize a new programming language, RIDE, specifically made for the project.<\/p>\n<p>Unlike Ethereum smart contracts, ones on Waves\u00a0<strong>do not\u00a0<\/strong>require Gas to execute. Instead, the network charges a minimal, flat fee.<\/p>\n<h2 id=\"waves-token-architecture\"><span style=\"font-weight: 400;\">Waves Token &amp; Architecture<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Waves differs slightly from the traditional architectural structure that other blockchain companies are using. To prevent scaling issues, the platform uses a <strong>two-tier architecture<\/strong> with both lightweight and full nodes maintaining the network. This is different than the strictly full node approach that Bitcoin purists favor.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Two-Tier Architecture<\/span><\/h3>\n<p><span style=\"font-weight: 400;\"><strong>Waves lightweight nodes never download the blockchain<\/strong>. Instead, they depend on the full nodes for transaction confirmations and the interactions on the network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The strategy is taken from the <a href=\"https:\/\/github.com\/Tosch110\/SuperNet-Lite\" target=\"_blank\" rel=\"nofollow noopener\">SuperNET lite client<\/a> which has been successfully validated by the NXT project.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To facilitate the trust between lightweight and full nodes, Waves uses the Scorex platform. Instead of downloading the complete history of transactions, lightweight nodes use the <strong>current network state<\/strong>. They then use that state to establish simplified payment verification processes.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Leased Proof-of-Stake (LPoS)<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">There are 100,000,000 Waves tokens, WAVES, in circulation. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The platform uses a variation of the traditional Proof-of-Stake consensus algorithm to maintain network integrity. In a <strong>Leased Proof-of-Stake (LPoS) system<\/strong>, you can stake your tokens by \u201c<a href=\"https:\/\/wavesplatform.com\/leasing\" target=\"_blank\" rel=\"nofollow noopener\">leasing<\/a>\u201d them to the full nodes that are running the network. Leasing costs 0.002 WAVES.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You need <strong>1,000 WAVES<\/strong> to <a href=\"https:\/\/wavesplatform.com\/mining\" target=\"_blank\" rel=\"nofollow noopener\">run a full staking node<\/a>. This number has changed and is much lower than the initial 10,000 WAVES requirement. If you don\u2019t have that many coins, you can still participate in staking by leasing your WAVES to a public mining pool. Check out<\/span><span style=\"font-weight: 400;\">\u00a0the <a href=\"https:\/\/forum.wavesplatform.com\/c\/pools\" target=\"_blank\" rel=\"nofollow noopener\">full list of Waves nodes<\/a> to find the one best suited for you.<\/span><\/p>\n<p>[thrive_leads id=&#8217;5219&#8242;]<\/p>\n<h3>Miner Reward Token (MRT)<\/h3>\n<p>As a full staking node, you earn Miner Reward Tokens (MRTs) alongside your WAVES rewards. You receive 60 MRT for the first 70 blocks you create in a day and earn 30 MRT per block after that. MRT is a Waves platform token, so you can trade it freely on the DEX for any other supported cryptocurrency.<\/p>\n<h2 id=\"waves-platform-history\"><span style=\"font-weight: 400;\">Waves Platform History<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Multiple members of the founding Waves team previously worked on the <a href=\"https:\/\/coincentral.com\/what-is-nxt-beginners-guide\/\" target=\"_blank\" rel=\"noopener\">NXT project<\/a> together. A poor initial coin distribution, rotating development teams, and controversial development decisions were all factors in them leaving to start their own project &#8211; Waves.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Instead of forking from NXT, the team decided to start completely from scratch. A major difference between the two platforms is Waves&#8217;s emphasis on <strong>inherent fiat integration<\/strong>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company has\u00a0<a href=\"https:\/\/www2.deloitte.com\/ru\/en\/pages\/about-deloitte\/press-releases\/2017\/Deloitte-i-platforma-Waves-izmenjat-budushhee-blokchejna.html\" target=\"_blank\" rel=\"nofollow noopener\">partnered with Deloitte<\/a> to provide clients with ICO services and is also working with the <a href=\"https:\/\/medium.com\/@WavesNews\/how-waves-contributes-to-blockchain-legitimization-on-a-scale-of-russia-and-the-cis-165c27b201e8\" target=\"_blank\" rel=\"nofollow noopener\">Russian National Settlement Depository<\/a> (Moscow Stock Exchange) to potentially develop a blockchain platform to distribute digital assets.<\/span><\/p>\n<p>In October 2018, the Waves platform <a href=\"https:\/\/blog.wavesplatform.com\/waves-sets-record-for-maximum-transactions-per-day-c540c9ea92e9\" target=\"_blank\" rel=\"noopener\">set the record<\/a> for processing the most transactions of any blockchain project in a single day. The network completed 6.1 million transactions, surpassing\u00a0the previous record-holder, EOS, which had 5.4 million.<\/p>\n<figure id=\"attachment_4571\" aria-describedby=\"caption-attachment-4571\" style=\"width: 1291px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-4571 size-full\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58.png\" alt=\"Waves roadmap\" width=\"1291\" height=\"725\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58.png 1291w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58-591x332.png 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58-621x349.png 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58-600x337.png 600w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58-300x168.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58-768x431.png 768w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/Screenshot-2017-12-15-18.24.58-801x450.png 801w\" sizes=\"(max-width: 1291px) 100vw, 1291px\" \/><figcaption id=\"caption-attachment-4571\" class=\"wp-caption-text\">Complete Waves Roadmap<\/figcaption><\/figure>\n<h3>Competition<\/h3>\n<p><span style=\"font-weight: 400;\">There\u2019s no shortage of competition in the smart contract space. <a href=\"https:\/\/coincentral.com\/what-is-ethereum-the-ultimate-beginners-guide\/\">Ethereum<\/a> is currently the big name when it comes to ICOs and dapps but there\u2019s enough room for other projects as well. <a href=\"https:\/\/coincentral.com\/what-is-neo-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\">NEO<\/a>, <a href=\"https:\/\/coincentral.com\/what-is-eos\/\" target=\"_blank\" rel=\"noopener\">EOS<\/a>, <a href=\"https:\/\/coincentral.com\/what-is-lisk\/\" target=\"_blank\" rel=\"noopener\">Lisk<\/a>, and <a href=\"https:\/\/coincentral.com\/stratis-beginner-guide\/\" target=\"_blank\" rel=\"noopener\">Stratis<\/a> are also competing for smart contract clients.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Waves appears to be carving a niche by focusing on <strong>mass adoption through simplicity<\/strong>. The tokens you can create with Waves are missing some of the functionality seen on other platforms, but they\u2019re ridiculously easy to make. As the team continues to add smart contract functionality, though, the feature gap will further close.<\/span><\/p>\n<p>Waves also faces significant competition on the DEX front. <a href=\"https:\/\/coincentral.com\/idex-exchange-review\/\" target=\"_blank\" rel=\"noopener\">IDEX<\/a> is one of the top competitors, and protocols like <a href=\"https:\/\/coincentral.com\/0x-beginner-guide\/\" target=\"_blank\" rel=\"noopener\">0x<\/a> and the <a href=\"https:\/\/coincentral.com\/kyber-network-beginner-guide\/\" target=\"_blank\" rel=\"noopener\">Kyber Network<\/a> make it relatively easy to spin up a new DEX. The Waves team is focusing on usability and transaction speed to separate the exchange from the pack.\u00a0<\/p>\n<h2 id=\"waves-trading\"><span style=\"font-weight: 400;\">WAVES Trading<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Waves completed their ICO in June 2016 raising <strong>over $16 million<\/strong>. Almost immediately after the ICO, the price of WAVES plummeted 80% and stabilized around $0.20 (0.0003 BTC). <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The price remained relatively flat before rising up in July 2017. This run-up was most likely caused by the release of their roadmap as well as a partnership announcement with ICO Hub for a pre-ICO challenge.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For the rest of 2017, the price slowly fell before jumping to hit a new all-time high\u00a0(in USD) this December of $17.06 (~0.000899 BTC). Among other factors, this bull-run was most likely caused by the team\u2019s claim that Waves would soon be the <a href=\"https:\/\/blog.wavesplatform.com\/waves-to-become-the-fastest-blockchain-platform-in-the-world-5291275c9bef\" target=\"_blank\" rel=\"nofollow noopener\"><strong>fastest blockchain in the world<\/strong><\/a>.\u00a0<\/span><span style=\"font-weight: 400;\">With Bitcoin\u2019s scaling issues, speed is increasingly becoming a greater and greater factor when evaluating the value of a cryptocurrency.<\/span><\/p>\n<p>Besides spikes in price during February and April 2018, WAVES has fallen with the rest of the market during these bear market times. it&#8217;s unclear what caused the February run-up, but we can assume that the April rise was due to the smart contract feature implementation.<\/p>\n<p>The coin has been trading steadily around $2.00 for the last couple of months. Further use of the token issuance functionality, the DEX, or the new smart contract innovations should have a positive effect on the price.<\/p>\n<h2 id=\"where-to-buy-waves\"><span style=\"font-weight: 400;\">Where to Buy WAVES<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You have two options available to buy WAVES:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Exchanges<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">DEX<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Exchanges<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Numerous exchanges like <a href=\"https:\/\/coincentral.com\/binance-review\/\" target=\"_blank\" rel=\"noopener\">Binance<\/a> and <a href=\"https:\/\/coincentral.com\/bittrex-review\/\" target=\"_blank\" rel=\"noopener\">Bittrex<\/a> have WAVES available for trading. To exchange for WAVES on these platforms, you first need to <a href=\"https:\/\/coincentral.com\/how-to-buy-bitcoin\/\" target=\"_blank\" rel=\"noopener\">purchase Bitcoin<\/a> or Ethereum. Once purchased, transfer your funds to one of the previously mentioned exchanges and trade them for WAVES.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can also use a service like <a href=\"https:\/\/coincentral.com\/changelly-exchange-review\/\" target=\"_blank\" rel=\"noopener\">Changelly<\/a> or <a href=\"https:\/\/coincentral.com\/shapeshift-exchange-review\/\" target=\"_blank\" rel=\"noopener\">Shapeshift<\/a> to get WAVES.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">DEX<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">You can also use <a href=\"https:\/\/blog.wavesplatform.com\/what-is-waves-dex-7c311d1360a1\" target=\"_blank\" rel=\"nofollow noopener\">the DEX<\/a> to exchange for WAVES. The token is available to trade with BTC, USD, and EUR although <strong>trades with Bitcoin have significantly more volume than the other two<\/strong>. Usually, the higher the volume, the easier it is to trade.<\/span><\/p>\n<h2 id=\"where-to-store-waves\"><span style=\"font-weight: 400;\">Where to Store WAVES<\/span><\/h2>\n<p><span style=\"font-weight: 400;\"><strong>The best place to store your WAVES is in the lite wallet client<\/strong> provided by the company. Keeping your funds on an exchange exposes them to hackers and leaves them under the control of a third-party.<\/span><\/p>\n<figure id=\"attachment_4574\" aria-describedby=\"caption-attachment-4574\" style=\"width: 695px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4574 size-full\" src=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-client.png\" alt=\"waves client\" width=\"695\" height=\"458\" srcset=\"https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-client.png 695w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-client-591x389.png 591w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-client-621x409.png 621w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-client-600x395.png 600w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-client-300x198.png 300w, https:\/\/coincentral.com\/wp-content\/uploads\/2017\/12\/waves-client-683x450.png 683w\" sizes=\"(max-width: 695px) 100vw, 695px\" \/><figcaption id=\"caption-attachment-4574\" class=\"wp-caption-text\">Waves Lite Wallet Client<\/figcaption><\/figure>\n<p>As mentioned earlier,\u00a0<span style=\"font-weight: 400;\">the\u00a0lite client is available on the web, on Android, on iOS, or as a Chrome plug-in.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Make sure to lease out your tokens when storing them so you can support the network and get those nice staking rewards.<\/span><\/p>\n<h2 id=\"conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Waves provides an easy way to create your own token and take advantage of simple blockchain functionality. The platform is good for people looking to run a crowdfund or create a simple loyalty coin for their business. With the additional smart contract functionality, the platform is also becoming more competitive with the likes of more popular dapp platforms (e.g. Ethereum).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The value of Waves is within its simplicity. Anyone can create a customized token with a few clicks and little knowledge of the underlying technology.\u00a0<\/span><span style=\"font-weight: 400;\">Beyond straightforward token creation, Waves also operates a decentralized exchange.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the team continues to make vast improvements on the network&#8217;s speed and usability, it\u2019s feasible to see the platform gain significantly more popularity.<\/span><\/p>\n<p><em><span style=\"font-weight: 400;\">Editor\u2019s Note: This article was updated by <a href=\"https:\/\/coincentral.com\/author\/stevenbuchko\/\" target=\"_blank\" rel=\"noopener\">Steven Buchko<\/a> on 10.23.18 to reflect the recent changes of the project.<\/span><\/em><\/p>\n<h2 id=\"additional-waves-platform-resources\">Additional Waves Platform Resources<\/h2>\n<p><a href=\"https:\/\/www.facebook.com\/wavesplatform\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a><\/p>\n<p><a href=\"https:\/\/twitter.com\/wavesplatform\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a><\/p>\n<p><a href=\"https:\/\/join.slack.com\/t\/wavesplatform\/shared_invite\/enQtMjczNjAxMTQ5NjM4LTk2MTk5ZDIzNjA2YmNkNmM0N2Q5ZmMyMjQwMjU3YWZiOTRiY2U0OGYyYmMzZmFjZTJiYmQyMDcwMGY3ODNkN2E\" target=\"_blank\" rel=\"nofollow noopener\">Slack<\/a><\/p>\n<p><a href=\"https:\/\/blog.wavesplatform.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Blog<\/a><\/p>\n<p><a href=\"https:\/\/www.reddit.com\/r\/Wavesplatform\/\" target=\"_blank\" rel=\"nofollow noopener\">Reddit<\/a><\/p>\n<p><a href=\"https:\/\/telegram.me\/wavesnews\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is the Waves platform? A guide explaining how the Waves platform works, the team behind the project, and where to buy\/store the WAVES token.<\/p>\n","protected":false},"author":18,"featured_media":14447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"iawp_total_views":23,"footnotes":""},"categories":[5712],"tags":[5747,6219,5850,5857],"class_list":{"0":"post-4569","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-guides","8":"tag-blockchain","9":"tag-decentralized-exchanges","10":"tag-use-cases","11":"tag-waves"},"wppr_data":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Is the Waves Platform? | The Ultimate Guide - CoinCentral<\/title>\n<meta name=\"description\" content=\"What is the Waves platform? 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