Name: WAX
Brand: WAX
SKU: WAXP
Price: 0.620977 USD
Availability: InStock
Rating: 4.5 (37 reviews)

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Features good technological feasibility and diverse application scenarios, with major products already launched and either an early-stage or stable ecosystem in place. Multiple automated metrics indicate a notable level of industry attention and support, along with relatively manageable risks.

Mudrex

Market Statistics

WAX (WAXP) is a blockchain designed to facilitate e-commerce transactions more efficiently and securely. Launched in 2017, WAX uses a delegates' proof of stake (DPoS) consensus mechanism and is compatible with EOS. It offers tools for decentralized applications (DApps), marketplaces, and non-fungible tokens (NFTs), including the WAX Cloud Wallet, SSO, and OAUTH. The blockchain architecture of WAX supports fast 500-millisecond block times and zero-fee transactions, with incentives like voting rewards to encourage participation in governance.

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WAX aims to solve the inefficiencies in e-commerce transactions by providing a specialized blockchain that simplifies and secures virtual goods' buying, selling, and trading. It addresses the need for fast transactions, user engagement, and integrating NFTs with real-world assets.

William Quigley and Jonathan Yantis co-founded WAX. William Quigley is WAX's CEO and has a venture capital background, having invested in over 40 crypto companies. Jonathan Yantis, the COO, has experience in virtual goods trading since 1997. The team also includes Lukas Sliwka as CTO and Malcolm CasSelle as a strategic advisor, bringing knowledge from the gaming industry and technology sector.

The WAX ICO took place in November 2017, with an offering price of $0.32 per token. The total amount raised was $9,600,000.

The WAX whitepaper outlines the vision and technical details of the WAX blockchain, emphasizing its role in transforming the e-commerce and virtual goods marketplace. It describes the DPoS consensus mechanism, the microservice layer for specialized services, and the incentive structures for token holders. The whitepaper also discusses the WAX Platform’s architecture, which includes the WAX Protocol and a suite of tools for DApps and NFTs. 

It highlights the importance of community involvement in governance through voting and staking rewards. The document provides a comprehensive overview of the problems WAX aims to solve in the digital asset space and the strategies employed to achieve a secure, efficient, and user-friendly ecosystem for e-commerce transactions.