### What is Waves?

Waves is an open blockchain platform that offers a comprehensive development toolset for building Web 3.0 applications and decentralised solutions. It is designed to allow users to easily create and deploy custom digital tokens without requiring extensive programming skills, making it particularly user-friendly for developers and entrepreneurs looking to integrate blockchain technology into their projects.

### How does Waves work?

Waves operates on a multi-layered blockchain structure, combining a centralised core, consisting of full nodes that maintain a comprehensive record of all transactions, with a decentralised external layer of lightweight nodes that pass recent transactions to full nodes for registration. The platform employs a Leased Proof of Stake (LPoS) consensus mechanism, which allows WAVES token holders to lease their tokens to nodes to increase the nodes' chances of generating new blocks. Additionally, Waves utilises the Waves-NG protocol to improve scalability by enabling faster transaction processing through the use of key blocks and microblocks. Smart contracts on the Waves platform are written in a language known as RIDE, which is Turing-incomplete and designed for simplicity and efficiency.

### What are the potential use cases for Waves?

Waves supports a wide range of use cases, including:

1. **Tokenization**: Custom token creation for crowdfunding, ICOs, loyalty programs, and in-app currencies.
2. **Decentralized Finance (DeFi)**: Applications for stablecoins, cross-chain swaps, and capital management.
3. **Decentralized Exchange (DEX)**: Facilitating peer-to-peer trading of cryptocurrencies with low fees and no limits.
4. **Smart Contracts**: Enabling developers to build DApps efficiently, tailored for various industries such as gaming, supply chain management, and financial services.

### What is the history of Waves?

Waves was founded in 2016 by Russian entrepreneur Alexander Ivanov, who aimed to create a blockchain ecosystem that simplifies the creation of decentralised applications and solutions. It started with an ICO in April 2016, raising over 16 million USD, and the blockchain platform was launched later that year. Over the years, Waves achieved significant milestones, including the introduction of the Waves-NG protocol for scalability, the RIDE language for smart contracts, and the transition from Waves DEX to the more versatile Waves Exchange. Noteworthy collaborations, such as the token partnership with Burger King for the Whoppercoin, have highlighted Waves' potential for real-world applications. The platform continues to grow with a substantial user base and robust community involvement.

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