Waves is a blockchain platform developed to provide users with the opportunity of creating their own new custom token. Those tokens may be used for loyalty programs, in-app currency creation, and ICO funding. Waves adds new tokens or transaction types as plug-ins on top of the core software. This feature eliminates the users’ necessity to update their software every time a new token is added to the blockchain. The new token can be traded on Waves decentralized exchange. DEX reduces a lot of risks: for example, your funds are stored directly in your wallet, so there is no point in hacking DEX, and there is no central administration capable of freezing your account or your trades. Every token built on Waves may be exchanged in pairs with any other Waves token. The Waves team claims that Waves will soon be the fastest blockchain in the world.