How does Waves work?

Waves operates on a Proof of stake (PoS) consensus mechanism where token holders participate in block validation and creation. This mechanism promotes network security and efficiency while reducing energy consumption compared to PoW systems. Waves also allow users to create and manage their custom tokens on the blockchain. Users can create tokens without any extensive blockchain coding knowledge by using simple scripts.

Waves support smart contracts, which enable developers to create and deploy dApps on the platform. This feature opens up various opportunities for applications such as decentralized governance systems, decentralized finance apps and supply chain management. Waves also uses Waves-NG, which is a protocol that enables fast processing and high throughput.

Major events that have influenced waves value

Since its launch, there have been a number of events that have influenced the price of waves either positively or negatively.

  • Waves was launched in 2016 through an ICO that raised 30,000 BTC. At the time of launch, it was valued at $0.19.
  • It traded between $0.50 and $4 until November 2020 before its price started climbing.
  • Waves reached $41.33 on May 4th, 2021 caused by the market rally and the increasing demand for DeFi and NFTs.
  • Its price dropped to $12.67 on May 23rd, 2021 following a flash crash and a market correction.
  • On December 31st, 2021, Waves fell to $14.56 due to regulatory uncertainty and a bearish trend.

Factors that have influenced waves price today

Since its launch, several factors have influences the price of Waves such as the following.

Supply and demand factors

Waves keeps its supply uncapped, which depends on the block rewards and voting of network participants. Its demand depends on its popularity and utility as an NFT asset, a platform token and a payment method.

Market sentiment

Like other cryptocurrencies, the sentiment of the crypto market and investors can influence the price of Waves. Any type of positive news, trends, events or innovation can have a positive influence on its price.

Level of regulation

Governments and authorities can apply regulations which can influence the price of WAVES. Regulations can have positive or negative impacts on its price, depending on its nature and extent. Currently, Waves is subject to regulations related to Anti-money laundering and counter-terrorism financing (AML/CTF), securities and derivatives, and taxation.

Partnership announcements

Price movements can also be caused by major partnership announcements. For instance, it partnered with Deloitte, one of the world’s most professional services firms, which raised the price of Waves. Some of the notable partnerships that Waves has achieved include Ergo, Ontology, Amazon Web Services (AWS), and Microsoft Azure.

What are some sources to check out Waves price live?

How much is one Waves? – this a common question asked by novice cryptocurrency investors who are interested in the token. Crypto traders and investors always have to be on the lookout for any events that can influence its price. This makes it very important to check out reliable and authoritative sources for the price of Waves. Traders and investors have multiple options when it comes to checking its price.

Trusted cryptocurrency aggregator websites such as CoinGecko, CoinMarketCap and CryptoCompare provide detailed charts, news, analysis and educational resources. There are also some general tracking websites such as Messari and TradingView, which provide price information on cryptocurrencies and other types of investments.

It is very important for traders and investors to not be overreliant on one source and confirm the prices of cryptocurrencies by using multiple sources at once.

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