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