WAX

The Worldwide Asset eXchange, or WAX, is a blockchain platform purposefully built to support digital assets, with a particular focus on non-fungible tokens (NFTs) and decentralized applications (DApps). WAX was launched in 2017 to cater to the growing demand for a blockchain optimized for digital asset creation, trading, and use in gaming and entertainment. With its carbon-neutral certification and high transaction speeds, WAX has become known as "The King of NFTs," making it a popular choice among developers, brands, and users in the NFT space.

About WAX

WAX was created by the team behind OPSkins, a marketplace for virtual items in online video games, to address limitations in existing blockchain platforms regarding speed, cost, and environmental impact. Utilizing a Delegated Proof of Stake (DPoS) consensus mechanism, WAX achieves high throughput and low transaction fees. This mechanism allows for rapid block confirmation times, ideal for applications where quick transactions are crucial, such as gaming and digital collectibles.

WAX's environmental sustainability is also a key feature. The platform is carbon-neutral, offsetting all emissions produced by its operations. This commitment has helped WAX attract environmentally-conscious brands and projects seeking sustainable blockchain solutions. WAX also has a dedicated cloud wallet service, which simplifies the onboarding process for new users by eliminating the need for complex private key management, further contributing to its accessibility and popularity.

Main Features

• Delegated Proof of Stake (DPoS) Consensus: WAX uses DPoS, a consensus mechanism that enhances transaction speed and reduces energy consumption. This system allows token holders to vote for block producers, who are responsible for securing the network, adding blocks, and validating transactions.
• Carbon-Neutral Operations: WAX is one of the few blockchains certified as carbon-neutral, offsetting its carbon emissions to reduce environmental impact. This sustainability makes it an attractive option for brands and projects focused on eco-friendly operations.
• WAX Cloud Wallet: To make blockchain more accessible, WAX offers the WAX Cloud Wallet, which allows users to create accounts and store digital assets without needing to manage private keys. This user-friendly approach has helped attract a broader audience to the platform, including those new to blockchain.
• Built-In NFT Standards and Marketplaces: WAX is optimized for NFTs, providing built-in standards for creating, buying, selling, and trading NFTs. The platform has several NFT marketplaces and tools, making it easy for creators and collectors to engage with digital assets. Projects like Topps and Street Fighter have launched their own NFT collections on WAX, underscoring the platform’s influence in the space.
• Gaming and DApp Ecosystem: WAX has a strong focus on gaming, supporting various gaming DApps and virtual asset exchanges. Its high throughput and low transaction fees make it ideal for in-game economies and virtual items, leading to partnerships with major gaming companies and brands.

Community and Development

WAX has cultivated an active and dedicated community of developers, brands, and users. The platform offers various resources, grants, and support for developers looking to create on WAX, fostering a robust ecosystem. WAX's focus on NFTs and digital collectibles has attracted partnerships with well-known brands in entertainment and sports, such as Topps and Funko, further expanding its influence in the blockchain space.

As a leader in the NFT and DApp sectors, WAX continues to focus on sustainability, user experience, and accessibility. With its innovative features and dedication to environmental responsibility, WAX aims to drive the adoption of blockchain technology in a way that is both user-friendly and environmentally conscious, supporting the growth of Web3 and the broader digital economy.