WAX

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.

• Total Supply: 4,134,342,551 WAXP

• Max Supply: Infinite

As of today #{today’s date}, the price of WAX is ₹2.34 INR or 0.02706 USD, with a 24-hour trading volume of 171426751.18 USD. The market capitalization for WAX is 116241061.64USD. The circulating supply is 4367517380.94 WAX, with the total supply also being 4372311824.06 WAX.

• E-commerce Optimization

• : WAX is tailored for e-commerce, providing tools and services that facilitate online transactions.

• Fast and Free Transactions

• : The blockchain offers 500 millisecond block times and zero-fee transactions, which benefits users.

• Incentive Mechanisms

• : WAX provides voting rewards to incentivize participation in selecting block producers and proposals.

• NFT and DApp Support

• : The platform supports many DApps and NFTs, making it versatile for developers and creators.

• Community Engagement

• : WAX has mechanisms for community involvement in governance, enhancing decentralization and user influence.

• Infinite Max Supply

• : The lack of a hard cap on the total supply could lead to inflationary pressures.

• Market Volatility

• : Like all cryptocurrencies, WAX is subject to market volatility, which can lead to unpredictable price swings.

• Adoption Challenges

• : WAX needs to compete with other blockchains for adoption, especially in the crowded NFT and DApp space.

• Regulatory Uncertainty

• : The evolving regulatory landscape for cryptocurrencies could impact WAX’s operations and user adoption.

• Technical Complexity

• : The technical aspects of blockchain and token staking may be a barrier for less tech-savvy users.

• Specialized E-commerce Blockchain

• : WAX’s focus on e-commerce could position it well as the sector grows.

• Strong Support for NFTs

• : With the rising popularity of NFTs, WAX’s robust support could drive demand for the token.

• User-Friendly Tools

• : Features like the WAX Cloud Wallet make it accessible for users to engage with the blockchain.

• Incentivized Participation

• : The reward system for voting and staking could attract more users to hold and use WAXP.

• Backing by OPSkins

• : WAX’s association with OPSkins, a leader in online virtual goods, lends credibility and potential user base growth.

• Optimized for E-commerce

• : WAX’s blockchain is purpose-built for online transactions, setting it apart from general-purpose blockchains.

• Comprehensive DApp and NFT Ecosystem

• : WAX supports over 30,000 DApps and marketplaces, particularly gaming and NFTs.

• Patented vIRL® NFTs

• : WAX’s patented vIRL® NFTs connect digital tokens with real-world products and services, offering unique utility.

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.

• Infinite Supply

• : The lack of a maximum supply cap could lead to devaluation through inflation.

• Competitive Market

• : WAX operates in a highly competitive space with many established and emerging blockchains.

• Dependence on E-commerce and NFT Market Growth

• : WAX’s success is closely tied to the growth of the e-commerce and NFT markets.

• Technical Barriers

• : The complexity of blockchain technology may deter mainstream users from adopting WAX.

• Regulatory Risks

• : Changes in cryptocurrency regulations could negatively impact WAX’s adoption and functionality.

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.