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An overview of the Waves ecosystem

Waves | 11.28| 227

Over the last three years, we have developed a complete ecosystem for creating decentralized applications. We have not only built this from scratch, but also provided access to tools as well as the decentralized infrastructure for dApp development and launch.

When you first come to other blockchain ecosystems, it is often difficult to understand where to start and what you can do. Waves has adopted a more compact, clear approach, but it’s complete and full of ready-to-use solutions, dApps, tools and projects for creating your own applications.

DeFi and dApps

Don’t be surprised that we’re placing such an emphasis on decentralized finance for the ecosystem, because DeFi is essentially a special case — a particular category of decentralized applications. And since we have developed a platform that is ideal for building and launching dApps, it is perfectly suited for DeFi, which is now very much trending. We are riding the wave!

So, how can you create a decentralized business application on Waves? There’s more than enough to get you started. We’ve got the Ride programming language, lots of documentation, a development environment (IDE), and an active community — ask any questions you have — you don’t have to do it alone!

What’s next after you have created your application? There’s a solution for KYC, BetterTokens, and one for fiat, Indacoin. Of course, we’re actively working on adding more options, but even at this stage you have everything you need.

Wondering what to do next with your dApp? Add it to dAppocean so people can find it, contact Waves Labs for financial and marketing assistance, and list your project on the Waves community website.

Trading

Do you trade digital assets? Waves Ecosystem also has something ideally suited to your needs. Waves.Exchange is a cross-platform trading solution that combines the security of a decentralized system with the user experience of the best centralized exchanges.

Due to the decentralized nature of the exchange, there is no listing process for tokens issued on the Waves blockchain. All existing digital assets and combinations of pairs are available, so you can trade any market that has liquidity — or create your own market for your preferred pair.

The team that is developing Waves.Exchange claims that they will deliver the best user experience of any decentralized exchange. Plans involve adding a series of fiat gateways, including the launch of a USDT gateway (ERC-20 standard) by the end of this year.

IEOs and STOs

Are you looking to raise money for a blockchain project? Waves makes it easy to create a dedicated token for your initiative and list it on Waves.Exchange so your community and investors can easily purchase them. Tokens can be listed against any other currency or asset.

Alternatively, for security token offerings (STOs), we have a fully-regulated partner, Tokenomica. Based in the crypto-friendly jurisdiction of Malta, Tokenomica will enable you to create and sell compliant digital assets, providing all the benefits of conventional shares with the flexibility of a blockchain-based approach.

Staking

If you hold WAVES, you might want to use them to generate passive income and help maintain the security of the network. Waves’ proof-of-stake consensus offers regular block rewards (currently 6 WAVES per block, though this can be increased or decreased via Waves’ community-driven monetary policy protocol). Currently, staking provides rewards of around 5% per year. There are several options available.

If you are more technically confident and have at least 1,000 WAVES, you may choose to run your own full node and mine WAVES directly. You will not need any specialist hardware; a VPS with 2 vCPUs, 4 GB RAM and 80 GB storage is enough. You will need to factor in hosting costs. (Digital Ocean charges $20 per month for an instance with these specifications.) Block generators collect 40% of transaction fees for the generated block and 60% for the previous block, due to the way the Waves-NG block generation protocol operates.

If you prefer not to run your own node, you can lease any amount of WAVES to a full node and collect a proportion of the rewards — different nodes offer different amounts, and often other tokens as a bonus. Leased WAVES are not transferred to the mining node’s account and remain in full control of the owner; they are simply locked for the duration of the lease, which can be cancelled at any time.

Lastly, some exchanges offer the ability to stake WAVES held on them. Tidex is one such exchange. Always be careful when holding cryptocurrencies on third-party services, since these are a target for hackers.

Enterprise

Are you looking to digitalize your current business processes, and privacy is a key concern for you? For these purposes we have a special solution — Waves Enterprise. A number of large companies have already created business applications on top of Waves Enterprise, in various fields:

  • Asset tokenization
  • Cash pooling
  • Corporate loans
  • Document flow
  • Identity records
  • Housing and Utilities
  • Notary services
  • Procurement
  • Supply chains

Moreover, business applications based on Waves Enterprise technologies are built by a dedicated team of professional integrators, who provide a full range of services for the development and maintenance of business solutions.

Gaming

Gaming is also gaining attention as a use case for blockchain technology. We provide tools for implementing blockchain within games, we work with teams of game developers and have already seen the launch of several high-quality games that are significantly better in terms of user experience than many of their competitors.

Future plans

In the future, we plan to develop an OracleChain and infrastructure for interchain communication, which we explore in this article.

On December 11, in Berlin, Sasha Ivanov will talk about our plans for the further development of the Waves ecosystem, so stay tuned!

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An overview of the Waves ecosystem was originally published in Waves Platform on Medium, where people are continuing the conversation by highlighting and responding to this story.

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