The Wavestar Wave Energy Converter (WEC) is a multiple absorber concept, consisting of 20 hemisphere shaped floats attached to a single platform. The heart of the Wavestar WEC is the Power Take-Off (PTO) system, converting the wave induced motion of the floats into a steady power output to the grid. In the present work, a PTO based on a novel discrete displacement fluid power technology is explored for the Wavestar WEC. Absorption of power from the floats is performed by hydraulic cylinders, supplying power to a common fixed pressure system with accumulators for energy smoothing. The stored pressure energy is converted into electricity at a steady pace by hydraulic motors and generators. The storage, thereby, decouples the complicated process of wave power absorption from power generation. The core for enabling this PTO technology is implementing a near loss-free force control of the energy absorbing cylinders. This is achieved by using special multi-chambered cylinders, where the different chambers may be connected to the available system pressures using fast on/off valves. Resultantly, a Discrete Displacement Cylinder (DDC) is created, allowing near loss free discrete force control. This paper presents a complete PTO system for a 20 float Wavestar based on the DDC. The WEC and PTO is rigorously modeled from incident waves to the electric output to the grid. The resulting model of +600 states is simulated in different irregular seas, showing that power conversion efficiencies above 70% from input power to electrical power is achievable for all relevant sea conditions.