Waves is an open blockchain protocol and development toolset that makes it simple and easy for anyone to create decentralized applications (DApps) on the blockchain. The platform also includes its own Waves token exchange, called WavesDEX. This decentralized exchange allows people to create their own tokens within the platform in just a few clicks. Waves token creation is simple and easy, but that’s not the most interesting thing about WAVES overall!
Notably, the native token on Waves is WAVES, which is unique in that it uses a Leased Proof-of-Stake mechanism. This offers users the opportunity to lease their WAVES tokens in order to earn extra rewards and income. Keep reading to understand more about how Waves works and why you should definitely keep an eye on the WAVES crypto price!
What is leasing on WAVES and how do I do it?
Mining on WAVES works by rewarding miners with an amount of fees, based on the amount of WAVES that they use while running the nodes needed to secure the Waves network. Even if you’re not a miner, you can benefit from this process by leasing your WAVES tokens to miners. This allows regular users to benefit from the mining process without having to give up their Waves holdings.
The Waves protocol provides an exciting solution to many of the speed and throughput challenges that blockchains commonly suffer, and adds value to crypto users through also operating a highly engaging platform with a highly distinctive leasing system. As more and more people learn about these attractive benefits, the WAVES token price is sure to continue on its steady upwards trend due to better adoption and greater enterprise support.