Do you know what is Decentralization? Decentralization means which don’t have a central authority. The advantage of a decentralized platform is it is not controlled by a single government or company, instead of its run by lots of people, so that no one can control or remove it.
To give you detail insight about Decentralization, here is Waves Dex Review.
What Is The Wave Platform?
Waves Platform is a blockchain platform that offers fiat gateways, smart contracts, mobile wallet, token issuance, a Decentralized Exchange (DEX), and many more.
Waves Decentralized Exchange (DEX) offers the ability to trade, store and exchange digital currency without centralized middlemen and having the ability to let the user full control the fund’s storage (funds kept on the wallet and not the exchange) and how they transact.
It serves as a wallet, decentralized exchange (DEX) and a tool that allows releasing of tokens. The network manages easier and faster transactions because the system can perform hundreds of transactions per second. In fact, they regard themselves as the fastest blockchain in the world.
Features of Waves
- The exchange is Fully functional as it fast as a centralized platform but does not suffer from the same security problems.
- The account and token controls which are included in Smart contracts provide the functionality to implement features such as multi-signature wallets, atomic swaps, and 2-factor authorization.
- The fiat-crypto issues are resolved through Waves fiat gateways.
- Waves-NG protocol greatly increases TPS capacity as miners are no longer competing to verify transactions.
- There is a Leased Proof-of-Stake(LPoS) algorithm to find a distributed consensus.
How To Trade On Wave DEX?
Once you are logged in to your account, go to the WAVES Decentralized Exchange Tab. You will see “Waves buy orders” from where you access all the buy orders in a list, “Buy Waves” and “Sell Waves” buttons from where you can take these actions.
Buying and selling features allow you to specify the price of the coin you want to buy and the number of waves. Click on the “Buy” or “Sell” button to continue. You can change tradable pairs by choosing the one you want from the favorite panel on the right. Or replacing the assets name in the text form by the pair you desire. You are able to scroll through a menu to select the name from all of the assets tradable on the DEX.
The order will show on the “My Orders” list after you create it. A transaction shows in the transaction history when you fill an order.
Benefits of Exchange
This decentralized exchange is based on the WAVES cryptocurrency. This allows users to trade WAVE-based digital assets such as WAVES coin, fiat and other tokens such as wETH and wBTC. In other words, you can trade different cryptocurrencies in exchange for Waves and other tokens generated on this platform. It offers around 66 token trading pairs. It also provides low charges for those transacting with the transaction fees going for as low as 0.001 WAVES per transaction.
The Waves trades for Waves coin, Waves wallet transactions all happen on the blockchain. With regard to trading cryptocurrencies, there is no limit on withdrawals. A cryptocurrency appears in a wallet’s balance immediately after purchasing.
Benefits of Issuing Your Own Tokens
With the Waves decentralized exchange, users are able to establish, issue and distribute their version of crypto assets within the platform.
Issuing your own cryptocurrency on the Waves platform could be helpful for your business whether you are crowdfunding, having loyalty programs, doing voting and much more. It can also help if you are accepting tokens as payment for goods and services. Users can also use tokens to create voting systems and loyalty.
The company also offers Android and iOS apps so that users can trade on the go. This is in addition to storing the assets in the local lite client.
April 17, 2019: Wave announced Vostok vision and functionality. Vostok is ecosystem with its own economy, technology, and business. Vostok is going to be launched in the summer of 2019.
Vostok platform’s work is to collect proven ideas from open blockchain ecosystems such as tokenization, Proof-of-Stake consensus, smart contracts and add some features that are available in systems like flexible blockchain computation, permissions control and get the best of from both. Vostok offers open systems ideology in a closed system setting.
April 16, 2019 :
The wave got a new release waves client 1.2.1, to fix minor bug and provide clear chart and time.
Waves platform offer an easy way to create your own token and provide simple blockchain functionality. With the latest web 3.0 update, it will have the most advanced features of blockchain. The platform is good for people going for a crowdfund or to create a simple loyalty coin for their business.
Also, the smart contract functionality adds an extra feather, as the platform is becoming more competitive in comparison to other popular dapp platforms.