WAVES is a basic public chain from Russia that focuses on the creation and use of blockchain custom assets, fiat currency transfer, crowdfunding, financial instrument trading and settlement.

The team aims to provide a stable open platform for payment systems, banks, crowdfunding projects and create an ecosystem for community-based projects.

Waves, launched in 2016, is a global open source platform for decentralized applications. Based on the proof-of-stake consensus, Waves is keen to take full advantage of blockchain with minimal carbon footprint. The Waves technology stack can benefit any use case that requires security and decentralization, open finance, personal identification, gaming, sensitive data, and more.

Waves offers cheaper transaction fees. In addition to ensuring low costs, the blockchain network also allows users to avoid Gas charges. All transaction fees are fixed except in the case of network overload. The protocol design and its smart contract language make this possible: all transactions are of predictable complexity and execution time, and do not cost a lot of money.

The Waves network uses proof-of-stake lease (LPOS) consensus algorithm, which is combined with the WAVes-NG protocol to achieve high scalability and transaction throughput of the network.

Key features of Waves Enterprise's main main network 1. High throughput and availability 2. Turing-complete, language-independent smart contracts with no miners' fees and other types of fees 3. High privacy protection of data and metadata 4. Good compatibility with existing IT environment 5. Highly customizable legal and safety compliant services 6. Service level Agreements

Waves is built on the Scorex platform (itself based on Scala I), which makes this project different from others. Bitcoin and replicas are C++, and NXT uses Java. The Waves block time is currently around 1 minute. But with full-node release and the implementation of the Proof-of-Stake consensus algorithm, the Waves network is expected to achieve block time of about 10 seconds. Centralized order matching technology is used in Waves, which means that orders in the built-in exchange are matched by centralized servers, but the transactions are performed on the blockchain. Thus, this provides the speed and security of a centralized server, enabling high frequency trading on the blockchain. However, centralized order matching will still enable real-time transactions.

WAVES offers a decentralized exchange (DEX) that allows users to exchange different assets back and forth, just like a traditional exchange, but with greater security for end users due to its decentralized nature. 2. Waves Wallet can store, track, transfer and manage cryptocurrencies. The wallet has a built-in decentralized trading platform for Bitcoin, Ethereum, Litecoin, ZCash, as well as us dollars and euros. Meanwhile, Waves' fiat gateway (US dollars, Euros, Turkish lira) allows anyone to deposit and withdraw fiat coins and use them in the Waves ecosystem. Waves users can deposit the relevant fiat coins through the secure gateway and then store, transfer and exchange them for other tokens quickly and cheaply. At the same time, it is taken out through the gateway and withdrawn to the traditional financial system as needed. It is very easy to create your own token on Waves, but in this era of ICO, the token function has become less core, Ethereum does not need a copy, so the token is not the core competitiveness, easy to use, and security is the core competitiveness.

The long-established public chain didn't emerge during last year's crypto bull market until the russia-Ukraine war broke out in February. First came the rapid price increase for WAVES and then the surge in TVL on the WAVES public chain. Some argue that the Russia-Ukraine war has boosted the ecological scale of Waves because Russia is facing economic sanctions, and decentralized finance (DeFi) may be able to help Russia circumvent sanctions. Waves itself is russian-built and the largest on-chain ecosystem in the country.

The risk of fierce competition and insufficient ecological development of public circuit.

Looking at Waves' development history, it is evolving from "enterprise-focused application building" to "comprehensive public chain ecosystem building" and has gained some market attention. Therefore, Waves is an old public chain that was born in 2016, but its DeFi ecosystem is still in its infancy and has full potential, which is worth our attention and participation. More importantly, as the crypto market continues to evolve and evolve, the value narrative and fundamentals will have greater market appeal. Therefore, it is becoming more and more important to be early and active users of protocols or blockchains, which will help us form a more comprehensive cognition system and gain more profits in the crypto market.