Waves is a decentralized platform that allows users to create their own custom tokens. These tokens can be used to represent anything, from a currency to a loyalty program.
Waves also allows users to trade these tokens on a decentralized exchange.
Waves was created in 2016 by Alexander Ivanov, a Russian entrepreneur. The platform was built on the Ethereum blockchain.
NOTE: WARNING: It is important to understand that Waves is not built on Ethereum. While Waves does have a blockchain-based platform, it is based on its own custom code and architecture. Do not be misled by inaccuracies that imply Waves and Ethereum are the same or related technologies.
However, in 2018, Waves switched to its own blockchain. This was done in order to improve transaction speed and reduce fees.
Since its launch, Waves has been growing in popularity. In 2019, it was the fifth most popular decentralized exchange by trading volume.
It is currently ranked as the ninth most popular cryptocurrency by market capitalization.
So, is Waves built on Ethereum? Yes, it was originally built on the Ethereum blockchain. However, it has since switched to its own blockchain.
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