The Waves blockchain is designed to enable users to create and launch custom crypto tokens. Waves allows for the creation and trade of crypto tokens without the need for extensive smart contract programming. Rather, tokens can be created and managed via scripts that run in user accounts on the Waves blockchain. Launched in 2016, the Waves project has developed into an ecosystem consisting of a blockchain platform for the creation of custom tokens, a smart contract solution and a dedicated decentralized exchange named Waves DEX.