Offering ICOs and building blockchains has been crippled by lack of scalability, slow transaction speeds and expensive transaction fees. Ethereum, the pioneer of smart contract technology, is one of the heaviest hit by these problems. This, in turn, has prompted developers to look for better blockchains elsewhere with the increasing number of such technologies. Waves Platform, the brainchild of Russian physicist, Sasha Ivanov is a blockchain designed to allow users to launch their initial coin offerings (ICOs) and trade them on the Waves Decentralized exchange.
In this article, we discuss in detail how to develop and issue your own tokens on Waves blockchain and use the platform for further business opportunity.
The Waves Blockchain Platform
Waves is one of the fastest blockchain platforms and decentralized exchanges, offering solutions to real-world problems for businesses, developers and users of the platform such as issuing, storing, managing, trading, and analyzing their digital assets safely.
The Waves decentralized exchange (DEx) provides a secure, fast, cheap and immutable platform for users to trade and exchange cryptocurrencies through smart contracts.
The platform is aiming at solving issues related to Ethereum and earlier blockchains regarding scalability, speed and cost.
How to Release your own Token on WAVES Platform
In the advent of cryptocurrencies, only a few would be able to issue their own cryptocurrency given the difficulty involved in the process. In this section, we discuss in sequential steps how you can release your own token for public sale in three simple steps;
- Install the Waves Client
- Create a new account on WAVES platform
- Issue your ICO
How to get started with Waves
Waves Lite Client can be installed to your browser as an extension or a plugin. The wallet is user-friendly and offers a variety of easy-to-use features.
You can either download Waves Client as a standalone version for Mac, PC or Linux here after choosing your OS.
Note: All versions support automatic updates on your computer.
or instal the Online Client here where you are also given the choice of restoring your account from back up.
Create new Account on WAVES Platform
Once you click, “Launch the App” you will be redirected to create your account.
- Click “Create account”
- Read the terms and conditions offered on the policy statement then click “I understand”
- Save your seed. You need it to restore your wallet in case of loss or when using another device
- Enter the wallet name and password
- Click “Register”
- Once registered, go to the dashboard and select “Withdraw/Deposit” option. To deposit Waves, simply send them to the address shown on the top of your wallet
Issue your ICO
Once you create your Waves account, you need to go to the homepage to start releasing your initial coin offerings to the public for sale.
- Click the diamond-shaped asset issuance tab at the top of the page
- Enter the token name
- Enter the token description
- Select the total supply of tokens needed
- Choose the smallest unit of the token (decimals)
- Select whether the token can be re-issued or not
- Click “Issue token” option
- Click “Confirm” to issue the toke Click “Confirm” to issue the token.
WAVES was launched in June 2016 through a public sale trading at $1 per token. The platform uses a proof of stake (PoS) consensus model to generate tokens and reward users.
In the above article, we discuss how to easily issue a token to the public through the Waves Platform. The platform is user-friendly, swift and highly scalable offering users an efficient platform to release their tokens. The blockchain will also allow users to create, build and develop their own smart contracts on the platform. The Waves decentralized exchange (DEX) is the final piece to the puzzle that ensures these tokens have a market to be traded and exchanged.