What is a Waves coin and how to exchange Bitcoin for Waves?

Cryptocurrency, in many ways, has revolutionized the financial sector. As it has this potential, every new project aims at grabbing more than what has been discovered before. However, various blockchains face criticism for being slow when used in everyday life use. Therefore, different developers thought to cater to this issue. This led to the development of a blockchain named Waves. Like the actual waves, it is designed to work smoothly and efficiently.

In many other projects, when blockchains are designed, more focus is given to other functionalities – for example, on smart contracts rather than the transfer of value through tokenization of digital assets. Some blockchains fail to cover the most integral functions of scalability and speed while maintaining a decentralized protocol. Last but not least, smart contracts are an integral part of blockchain functionalities that need proper setups. Waves aim at filling all these loopholes and intend to provide a revolutionary model.

What is Waves?

Waves is an exclusive blockchain protocol based on advanced technologies. It is basically an innovative blockchain that is designed to allow users to make and trade tokens. Since you can customize it according to your needs, it is the most flexible blockchain protocol available. It functions as a cryptocurrency, a platform for launching tokens, as well as a decentralized exchange. The initial coin offering was launched in April 2016 with about $22 million raised. The main idea behind the launch of Waves is to solve old crypto-related problems. With Waves, you can create and develop your own custom tokens, and for that, you do not have to be a tech expert.

Key features

The software of the Waves blockchain runs on two types of nodes, the full nodes, and the lightweight nodes. The role of full nodes is to keep the full record and history of the transactions. Lightweight nodes get their transaction confirmations from the full nodes and therefore depend on them. Following are some key features of the project:

Waves use Leased Proof-of-Stake consensus

Leased Proof-of-stake consensus is the variation of the usual proof-of-stake mechanism. It is in fact, an improved and enhanced form of the latter. This allows you to lend or lease your tokens to the nodes. Leasing contributes to the generation of leasing pools that create tokens on your behalf, with the funds being under your control.

Waves-NG determines the node to produce the next block

Waves uses the Waves-NG protocol to select the node which would be allowed to add the next block to the blockchain. Waves-NG is a modified form of a plan which was proposed for Bitcoin but was rejected. Here a random miner is selected to create a key block. The key block contains a public key that is used by the nodes to create micro blocks that include transactions.

Waves blockchain is secured by Non-turing smart contracts

Waves security and safety is guaranteed due to its long-proven Leased proof-of-stake consensus.

The Ride is the complete language for smart contracts

Waves use Ride, which is a functional language for smart contracts and decentralized apps on the Waves blockchain. With this, anyone can design a dApp on the Waves blockchain.

More about the Waves coin

The Waves project helps its users in many ways, be it its ease of use or the autonomy to create custom tokens. The main goal behind the project is to promote the mass adoption of blockchain by bringing in simplicity. Below are some reasons people are paying attention to Waves coin or are interested in exchanging Waves with Bitcoin since many people are also interested in analyzing the two – Waves vs Bitcoin.

Simplicity is the key to the success of waves

When a user wants to create a token, one of the many things that come in the way is complex programming and technical knowledge. Waves claim to make the development and creation of tokens very easy for its users. The Waves protocol tokens are ideal for firms and individuals looking for simplicity of operations.

Users can stake wave coins to earn rewards

You can also earn rewards by staking Wave coins. Since the network uses the stakes to keep the blockchain secured and stable, it rewards more people to hold the coins.

Waves have a powerful decentralized exchange

Waves give access to a powerful Waves exchange where users can exchange Waves tokens with one another easy and hassle-free.

Where to exchange Waves?

For those interested in finding the best place to buy Waves coins and perform a Waves BTC exchange, Swapzone has everything covered. Here you have many options of Waves coin exchange and can choose the best Waves coin exchange from a list of available partners.

How to convert BTC to Waves?

You can follow these basic steps to acquire Waves tokens from a number of cryptocurrencies, including Bitcoin and Ethereum. Below are some simple steps you can follow to convert Bitcoin to Waves on Swapzone.

  1. Go to Swapzone to get your work started.
  2. Select BTC in the Send section.
  3. Specify the total amount you are going to transfer.
  4. Select Waves in the Get Up To section.
  5. Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the exchange.
  6. Confirm the offer you wish to go for and then enter the Waves wallet address.
  7. Send the Bitcoin deposit to a generated address.
  8. Wait for the deposit to be processed by the exchange service and the exchange to be done.
  9. Do not forget to rate the exchange partner, so we can gather more information on the exchanges for future users.