Waves was inspired by NXT. Some of its creators were former NXT executives. Its name comes from the discovery of gravitational waves. The Waves price includes a cryptocurrency system coded for scratch and allowing for asset issuance, decentralized crowdfunding, encrypted messaging, and community management. The STEEM price token is also a Proof-of-Stake cryptocurrency, conducing its ICO from April 12th, 2016 to May 31st, 2016, during which time it raised $16 million worth of bitcoin. Waves has a total of 100 million tokens, of which 15 million are reserved for bounties and the development team. The remainder are distributed to ICO participants.
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