Waves

Waves is an open-source blockchain protocol featuring an array of tools for DApp development. The Waves ecosystem already has a vast variety of projects to offer. These range from both centralized and decentralized exchanges, through wallets, up to games and NFT markets.

Waves consensus mechanism is a derivative of the Proof-of-Stake model. In their Leased PoS consensus, users can lease their WAVES token directly to a Waves node. This way the user maintains control of their own assets, as they are locked up, but not transferred to the node. Nodes use the leased tokens in order to generate blocks and earn rewards. The chance that a specific node on the network gets chosen as the block generator is done using the Fair Proof-of-Stake method. This means that the probability of the node getting chosen to finalize a block is proportional to the node's stake. Leasers of WAVES get rewarded according to the conditions set by the node owner. These rewards are earned in WAVES tokens.

The WAVES tokens are the native tokens of the Waves ecosystem. As mentioned earlier they are used as incentives for miners to keep developing the blockchain network. They are also used to pay for transaction fees on the network. Projects built using Waves also incorporate the WAVES token into their economy.

The Waves platform uses Ride as their smart contract development language. It is a straightforward language that is easy to learn, even by beginner developers. Although it's simple to learn, Ride is a powerful tool for creating DApps on the Waves blockchain.

Waves network offers low, fixed-cost transaction fees and about 60-second block generation time. In order to increase the speed of block generation, Waves-NG was introduced. Waves-NG presented a solution in the form of Microblocks. Thanks to that, the transactions are being recorded in 5-second intervals.