Full integration gives holders more benefits
In exciting developments for Wave, on the 7th of August 2020, the Wave token became fully-integrated on ERC-20.
ERC-20 Integration offers a whole host of benefits, which we will take a look at below.
Before diving into the benefits of ERC-20 token integration, it’s worth defining what that really means.
There are two important things to understand about ERC-20 tokens:
ERC-20 is the driving set of standards for tokens that will take place on the Ethereum blockchain, and anyone can develop their own in around an hour.
ERC stands for the Ethereum Request for Comment and the number 20 is the proposed identifier that indicates these new tokens being developed are ways that the Ethereum Network could be improved.
WAVE is one such token that will continue as an ERC-20 token until the Mainnet switch takes place and Wave is launched on its own blockchain. This change represents the evolution of token to full coin.
The benefits of being ERC-20 verified include:
Credibility: most smart contracts that take place on the Ethereum blockchain will be ERC-20 verified, which increases the trust interested parties can place in newer coin or token-related offerings.
This means that thanks to the defined set of standards incorporated by all tokens, any related transaction can be tracked on the Ethereum Blockchain.
Thanks to these shared features, each new token enjoys the same access to contracts, wallets and marketplaces.
Any user, then, can connect the token to a wallet such as Myetherwallet and complete transactions that are authorised, viewing balances and initiating transfers easily.
Availability: currently there are over 550 ERC-20 coins and smart contracts, and over 20 wallets in which to store them.
When you look for a wallet in which to store your wave, we recommend ones that have an easy-to-use interface and an active development community.
Soon you will be able to store WAVE as well on our desktop and hardware wallets for offline storage.
Whilst tokens such as WAVE enjoy their own internal exchanges -which will become a decentralized exchange in future – plans are to launch on external marketplaces within the next 2 weeks already as this will bring the benefit of increased liquidity to the coin as it continues to establish itself!
If you would like to learn more about the exciting future of the WAVE Platform, we recommend you visit our website https://waveplatform.io/ and read the roadmap and FAQ.
For us it looks like a blooming and exciting project in the crypto currency market and we will keep a close look on the development of WAVE.
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