This is Season 5 Week 7 of Steemit Crypto Academy and I'm writing homework task about "Waves Platform" assigned by Professor @imagen

This is an important consensus mechanism used in the blockchains like waves. In this the token holders whose tokens size are small and they are not eligible to participate in mining process lease their coins to holders that have sufficient number of tokens to take part in mining. Why do they do it? This is a mutually beneficial agreement.

It is a noteworthy factor in a governance mechanism in blockchains of proof of stake consensus that the chances of validator correctly validating a block increases with the size of their holding. When they acquire more tokens on lease their chances are thus enhanced of validating a block and getting rewards.

These nodes that directly participate in the mining process are called the full nodes. This consensus allows the investors that do not have a specific amount of staking to take part in mining indirectly and earn rewards. Since the rewards after the validation of the block are distributed among the full nodes and to the nodes, they took the lease from.

Difference between the Proof-of-Stake and Leased Proof-of-Stake.

1. The major difference in the LPoS and PoS is the leasing mechanism which allows even small stakers to take part in mining.
2. In case of PoS you can only take part in mining if you have a specific staking but in LPoS you can indirectly take part in mining by leasing your tokens to the full nodes.
3. In PoS all nodes that have a certain amount of staking can participate in mining in LPoS only full nodes take part in mining.
4. The mining rewards are also given to the leased nodes in LPoS while in case of PoS it only goes to the direct participating nodes.

Waves is an exchange built on the Waves blockchain that uses the LPoS consensus for the validation of a block. It is completely decentralized, auditable, transparent an open-source platform available to all. It allows anonymity and maintains secrecy and privacy.

It is much similar to Ethereum but different in other ways as it allows for direct fiat transfers for easy trading. You can also build smart contracts using the platform protocols. The prominent features of the protocol are its custom application tokens, decentralized exchange, and anonymity features.

The DEX allows for storing, investing, exchanging, pooling, staking and trading tokens.

To explore waves exchange, go to waves.exchange

Buy Crypto
In this option you can avail the opportunity of buying coins such as the EGG, USDN, OTC, and WAVES with the help of native fiat tokens. All you have t o do is enter your debit or credit card details and enter the amount to buy.

Trading
In this option you can avail the opportunity to see the chart of an asset such as we see in other exchanges. There are three further options the spot, swap, and forex swap.

The spot trading allows for speculative trading and there all the tools required for trading.The swap allows for the swapping between USDN and other native fiats at very low rates.

Pool
This option shows you different pools on the platform and the different characteristics of each pool such as the Annual Percentage Yield. You can deposit in any pool using this option.

WX Staking
This feature allows the stakers to lock WX tokens in the platform to earn rewards. WX is the native token and the duration and the amount can be selected by the user.

Investment options
In this option you can see a number of types of investments such as the liquidity pools you can earn maximum rewards by locking your asset and contributing to the liquidity on the network.

Lambo investments allow you stake in LPs based on smart contracts. Other options are algorithmic trading and LP staking.

3.1) Describe the process. Show Screenshots

Go to Available Exchange and login in your account

Click on trade and click on classic and search waves in the search bar

Select the WAVES/USDT pair and enter the amount to buy.

After clicking on buy and placing a market order my wallet balance was updated.

3.2) Show how the process is carried out to transfer the asset to the official Waves platform. (The demonstration is mandatory but the transfer is not)

to transfer to the waves platfrom go to waves.exchaneg and login your account then copy that address to transfer waves from binance as shown int the top bar.

Go to Exchange and click on wallet and on spot wallet locate waves and click on withdraw.

In the next window enter your address oof the waves wxchaneg and the withdrawal will be ready.

WX token is the governance token on the Waves blockchain. it is used as a mode of payment on the platform. It is also used to pay trading fees. Users can also lock WX tokens on the platform to earn rewards.

This has also contributed to the decentralized nature of the platform. They are locked in smart contracts are released periodically based on the emission rate to maintain steady circulation of the token.

Based on the data available on coinmarketcap.com WX token is currently trading at $1.79 with the market cap of $11,408,559.

Waves Ducks is an innovative gaming arena. It provides entertainment along with the opportunity to earn. The gaming characters are in the form of ducks which are also collectibles. the users can customize these collectibles and sell them in the marketplace or send their characters on the farms to contest.

The game involves farming EGG tokens and then breeding the ducks. You can acquire the EGG tokens since they are swappable on the exchange to hatch the genesis duck. These ducks are very valuable NFTS.
To access the game, you need to have an account the Waves Exchange.

Once you land on the wavesducks page you see the following interface and from here click on login if you already have an account.

Add your email and password.

Once you are logged in the waves exchange you see the interface of the waves ducks. Below is the My Ducks interface where you can see your ducks if any.

The next important feature is the incubator where you can design your own genesis ducks.

The marketplace feature is where you can sell your customized ducks and earn money. You can also buy your favorite ducks based on your requirements.

Waves is innovation in the field of blockchain. LPoS consensus has solved various blockchain problems and has massively increased the blockchain adoption. The Waves ducks is an NFT gaming program where users have a fun-filled earning opportunity this has also contributed to the adoption of waves.

Note :

All the Screenshots have been taken from the waves.exchaneg platform.
CC:
@imagen