# Waves (WAVES): D-Score 52/100 — Moderately Decentralized

**BlockIndex D-Score: 52/100 (Moderately Decentralized).** Waves (WAVES) is a Layer 1 cryptocurrency using PoS consensus. Waves: Scalable Layer‑1 blockchain with Waves‑NG consensus, native DEX, RIDE smart contracts, and ERC‑20 interoperability.

_Source: https://blockindex.ai/coin/waves · Data by BlockIndex.AI · Updated 2026-06-19_

## D-Score breakdown (0-100, higher means more decentralized)
| Component | Score |
| --- | --- |
| Overall D-Score | 52 |
| Node distribution | 10 |
| Initial distribution | 0 |
| Governance | 25 |
| Age and history | 12 |
| Autonomy | 5 |

## Key facts
- Layer: Layer 1
- Consensus: PoS (N/A)
- Launch: ICO (2016)
- Founder: Alexander Ivanov (Sasha Ivanov)
- VC funded: No
- Max supply: N/A
- Circulating: 130,137,160

## Market data (as of 2026-06-19)
- Price: $0.29
- Market cap: $37.25M
- 24h volume: $11.67M
- 24h change: +5.41% · 7d change: -4.36%

## About
Waves is a community-focused, open-source Layer‑1 blockchain platform built to simplify token issuance, decentralized trading and the development of practical dApps. Launched in June 2016 following an early ICO, Waves has evolved from a token issuance platform into a full-featured ecosystem that includes a native decentralized exchange (DEX), the RIDE smart-contract language, developer SDKs and tooling, and an expanding suite of DeFi primitives. The project emphasizes usability and pragmatic developer workflows: token creation, quick asset distribution and simple on‑chain trading were core goals at inception and remain central to Waves’s product set. The platform also supports an ERC‑20 representation of WAVES for Ethereum interoperability and provides converters and bridges to ease cross‑chain interactions.

From a technical perspective, Waves implemented a modified Proof‑of‑Stake consensus known as Waves‑NG (inspired by Bitcoin‑NG) to increase throughput and lower latency. This architectural choice and protocol evolution were intended to improve transaction processing capacity, and the project cites throughput improvements (on the order of ~100 transactions per second after Waves‑NG optimizations) in developer documentation. Waves’s node software and ecosystem tooling are presented as open source; the network supports native on‑chain voting mechanisms that allow token holders to propose and approve protocol parameter changes (for example, emission schedules and block-reward adjustments). The platform combines native on‑chain functionality with cross‑chain features including Gravity (a cross‑chain/oracle product) and Neutrino (DeFi/stablecoin tooling), extending utility beyond basic ledger operations.

In practical terms, Waves is positioned for businesses and developers that require straightforward token issuance, integrated decentralized trading and accessible developer tooling. Its native DEX, the Waves IDE and Keeper wallet integrations provide end‑to‑end flows for creating, managing and trading tokens. Waves has also pursued broader ecosystem growth through products such as WX Network, liquid staking modules and ERC‑20 interoperability, enabling WAVES assets to participate in Ethereum-native DeFi infrastructure. Market presence is established — WAVES is listed on major market-data platforms and traded on multiple centralized exchanges — and the ecosystem maintains hardware wallet support (Ledger) and desktop wallet integrations for non‑custodial users.

Tokenomics and governance have evolved over time: Waves began with a fixed 100 million token cap issued at the 2016 ICO, with a documented allocation split. In 2019 the community voted to remove the hard supply cap and moved supply decisions under on‑chain governance. Monetary policy is therefore dynamic and community-driven; block rewards (documented in sources as 6 WAVES at the time of the snapshot) and other emission parameters can be modified through the platform’s voting processes. Development activity and roadmap items focus on cross‑chain functionality, DeFi offerings and improving developer experience. While Waves shows mature ecosystem activity and recognized milestones (including an ERC‑20 interoperability release in 2020 and an ATH in 2022), the project’s governance-driven monetary policy introduces an element of ongoing deliberation about emissions and supply.

## Links
- Website: https://wavesplatform.com/
- Whitepaper: N/A
- GitHub: N/A

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About the D-Score: BlockIndex.AI rates decentralization from 0 to 100 across node distribution, initial distribution, governance, age and history, and autonomy. Methodology: https://blockindex.ai/dscore