Waves Platform Update: What Changed in 2019?

The Waves Platform became famous as the first service that allows users to buy and sell tokens without using an intermediate currency, through its DEX – a decentralized exchange.

But the Waves Platform isn’t only famous for that. In June 2016, the platform held an ICO that managed to raise an incredible $16 million. This made Waves one of the most successful ICOs in crypto history.

After the ICO, the price of Waves’ native token skyrocketed 80%, and reached around $0.20.

And in October 2018, the Waves Platform completed 6.1 million transactions, setting the record for processing the most transactions of any blockchain project in a day.

The company was created in 2016 by Russian entrepreneur Alexander Ivanov and it’s headquartered in Moscow. The goal of Waves is to make the custom token issuance available for everyone, even to those without coding knowledge.

The platform has a native token called WAVES. Speaking of the WAVES token, let’s take a look at its price and progress.

WAVES token – price history and market cap movement

waves 2019 chart

The WAVES token had a rough year when it comes to its price. Compared to the rest of the altcoin market, its price is underperforming. According to the CoinMarketCap, the total circulating supply of the token is 100,315,282 WAVES, while its market cap is $77,404,694 USD.

The token’s current price is around $0.77. In December 2017, WAVES had an all-time high of $18.07. However, in the beginning of 2019, things got worse and its price has been dropping ever since.

Waves Platform developments in 2019

Despite the price decrease, 2019 was fruitful for Waves. The platform presented RIDE, which is Waves’ native smart contracts programming language. According to the Waves blog, RIDE will allow developers to access new blockchain functionality.

Also, the platform recently introduced WaveFlow, an instant token exchange written in the RIDE programming language. On the exchange, the exchange rate is self-regulating and liquidity of tokens is constant.

Plus, in August, Waves added ERC-20 tokens on Waves DEX. Now, users can see new trading pairs with the ERC-20 token.

Conclusion

For 2020, the Waves team also has some ambitious plans. One of them is participating in the Odyssey 2020 hackathon season. This means that throughout the year Waves’ technologies will be available to Odyssey hackathon participants.

In addition, the Waves team continues to test and develop the platform, adding new features and improvements.

Keep up the good work, Waves!

***

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