In this paper, methods of designing CPW(coplanar waveguide) traveling-wave electrodes are described and their properties are discussed. Especially, the effect of buffer layer thickness to the microwave characteristics of the CPW electrodes are studied in detail. The trade-off relationship between buffer layer thickness and electro-optical properties of the devices are clearly revealde. The microwave characteristics and driving voltage can be further improved by using selected parameters suggested in this paper. To reduce time and effort in designing CPW electrode structure, exact analytical models are proposed.