While it was once a top-20 cryptocurrency for a brief period back in Dec. 2018, the proof-of-stake project created by the Russian physicist Alexander Ivanov in 2016 seemed to have lost its traction.
The platform’s success was initially based on its mobile application designed to streamline the user experience of decentralized applications (dApps) usage. Waves blockchain combines on-chain governance with blockchain-based computing but unlike Ethereum, it offers fixed fees.
This means there are no variable processing fees for miners and validators. The network also has its own smart-contract programming language called Ride. Despite being non-Turing complete like the more complex Solidity used by Ethereum, Ride still offers formal verification.
To date, a number of applications have been written, including Decentralized Exchanges (DEX), marketplaces, p2p lending, gaming apps and escrow facilities. Similar to Ethereum’s Metamask, Waves Keeper is a browser plug-in that allows users to interact with the Waves ecosystem, including websites and dApps.
In addition to these apps, the project also owns its exchange which supports crypto-to-crypto and fiat trading. Similar to major exchanges like Coinbase and Binance, Waves Exchange can also be accessed via Android and iOS apps.
After a long period of hibernation, the token price gained momentum in August. This occurred around the same time that the Neutrino dollar (USDN) algorithmic stablecoin running on Waves blockchain gained portability to the Ethereum network.
A week later, on Aug. 12, Waves announced its Malibu v1.2 Mainnet after 11 months of development. Besides network security increase using verifiable random functions (VRF), the upgrade ended the scenario where complex failed transactions that did…