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What Is Waves?

Waves (WAVES) is a blockchain platform founded in 2016 by Alexander "Sasha" Ivanov, a Ukrainian-born physicist. Ivanov launched the project with a $16 million ICO in April 2016, one of the larger crowdfunding rounds of that era. The platform was originally designed to make it easy for anyone to create and trade custom tokens -- users could issue their own digital tokens in minutes by specifying a name, total supply, and decimal precision, with no coding knowledge required and only a small WAVES fee. This positioned Waves as one of the earliest blockchain platforms focused on tokenization and ICO infrastructure, enabling projects to launch crowdfunding campaigns directly on-chain.

The Waves blockchain uses a Leased Proof of Stake (LPoS) consensus mechanism, which allows WAVES holders to lease their tokens to full node operators without transferring custody of their funds. Lessors earn a share of the block rewards and transaction fees generated by the node they support, while retaining full control and the ability to un-lease at any time. This creates a low barrier to entry for participating in network security and earning passive income. The platform later implemented Waves-NG, an adaptation of the Bitcoin-NG protocol, which significantly increased transaction throughput by allowing continuous block generation between key blocks rather than waiting for each full consensus round.

Waves features its own smart contract language called Ride, a non-Turing complete, functional programming language designed to be simpler and more secure than Solidity. By limiting Ride's expressiveness to what is practically necessary for common financial operations, the language reduces the attack surface for smart contract vulnerabilities. Ride contracts cannot enter infinite loops and have predictable execution costs, making them well-suited for financial applications where security is paramount.

The Waves ecosystem includes several significant components. The WavesDEX (now WX.Network) was a built-in decentralized exchange that allowed users to trade WAVES-based tokens and, through gateway tokens, bridge assets like BTC and ETH onto the Waves blockchain for trading. The platform also introduced tokenized fiat currencies (such as wUSD, wEUR, and wCNY) through gateway partners, enabling trading between crypto and fiat-pegged assets directly within the wallet. The Neutrino Protocol provided an algorithmic stablecoin (USDN) backed by WAVES, though it later faced significant stability challenges during market downturns. Puzzle Swap emerged as a community-driven DEX within the ecosystem.

Beyond its public blockchain, Waves developed Waves Enterprise, a separate permissioned blockchain platform targeting business and government clients. Waves Enterprise offered tools for organizations to build private or hybrid blockchain solutions for supply chain management, voting systems, and document management, running independently from the public Waves network. The platform's broader vision, sometimes referred to as Waves 2.0 or the Power Protocol, aimed to upgrade the network's core architecture for improved performance and cross-chain capabilities.

Getting Started With Waves

  1. Step 1: Learn About Waves. Visit waves.tech to understand the platform's capabilities, including token creation, smart contracts, and decentralized finance applications.
  2. Step 2: Create a Waves Wallet. Set up a Waves wallet using Waves Keeper (browser extension) or the WX.Network web interface. Your wallet will allow you to hold WAVES, custom tokens, and interact with Waves dApps.
  3. Step 3: Acquire WAVES. Purchase WAVES on a supported exchange and transfer to your wallet. WAVES is needed for transaction fees, staking, and interacting with smart contracts on the platform.
  4. Step 4: Explore the Ecosystem. Try creating a custom token (which requires only a small WAVES fee), lease your WAVES to a node to earn staking rewards, or explore DeFi applications built on the Waves platform.

How to Get a Waves Wallet?

Waves Keeper

Waves Keeper is a browser extension wallet similar to MetaMask but designed specifically for the Waves ecosystem. It allows you to manage WAVES and custom tokens, sign transactions, and interact with Waves dApps.

WX.Network

WX.Network (formerly Waves.Exchange) provides a web-based wallet with built-in exchange functionality. It supports WAVES, all Waves-based tokens, and offers features for leasing, staking, and DeFi activities.

Ledger Hardware Wallet

WAVES is supported on Ledger hardware wallets, providing cold storage security. You can connect your Ledger to the WX.Network interface for secure management of your Waves assets.

Waves Resources

How to Buy Waves?

WAVES can be purchased on centralized exchanges including Binance, Kraken, and Gate.io. Create an account, complete identity verification, deposit funds via bank transfer or card, and trade for WAVES using BTC, ETH, or fiat trading pairs. Once purchased, withdraw your WAVES to a personal wallet for security rather than leaving tokens on the exchange.

For decentralized options, WAVES can be traded on WX.Network (formerly Waves.Exchange), the native Waves ecosystem exchange that combines centralized and decentralized trading features. The platform supports direct trading of all Waves-based tokens. Cross-chain bridges also allow moving assets between Waves and Ethereum or other networks, enabling participation in the Waves DeFi ecosystem from other chains.

Latest Waves News

Waves has faced significant challenges in recent years, particularly around the Neutrino stablecoin (USDN), which experienced a de-pegging event during the crypto market downturn. The instability of the algorithmic stablecoin highlighted the risks of under-collateralized designs. Despite these difficulties, the platform continues to develop its core technology and attract developers building with the Ride programming language. The Waves team has been working on network upgrades under the Waves 2.0 and Power Protocol initiatives, aiming to improve performance, cross-chain interoperability, and protocol resilience. The project maintains its original focus on accessible token creation and blockchain tools for both individual users and enterprise clients.