WAX: A Purpose-Built Blockchain

tl;drWAX (Worldwide Asset eXchange) is an environmentally pleasant, purpose-built blockchain created for dApps (decentralized applications), gaming, NFTs, collectables, and virtual worlds. It could be a purpose-built blockchain and protocol token designed to form e-commerce transactions faster, easier, and safer for all participants. WAX has created a collection of blockchain-based tools upon which dApps, marketplaces, and native non-fungible tokens (NFTs) are built. Financially, However, WAX (WAXP) performed very well over the last year in terms of ROI compared to the cryptocurrency market's average, It has seen a big jump recently in market cap and price! WAXP's popularity in social media has increased over the last five months. Impressive!
WAX: A Purpose-Built Blockchain
WAX: A Purpose-Built Blockchain
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WAX (Worldwide Asset eXchange) is an environmentally pleasant, purpose-built blockchain created for dApps (decentralized applications), gaming, NFTs, collectibles, and virtual worlds. The WAX blockchain performs it especially easy for creators to make, launch, and distribute NFTs to a worldwide participant pool.

WAX could be a purpose-built blockchain and protocol token designed to form e-commerce transactions faster, easier, and safer for all participants. The WAX Blockchain uses Delegated Proof of Stake (DPoS) as its consensus mechanism and is fully backward compatible with EOS. WAX's custom features and incentive mechanisms are designed to optimize the blockchain's usability in e-commerce and encourage voting on guilds and proposals.

WAX has created a collection of blockchain-based tools upon which dApps, marketplaces, and native non-fungible tokens (NFTs) are built. These tools include services to support e-commerce operations like the WAX Cloud Wallet, SSO and OAUTH, a native RNG service, and a developer portal. The resulting technology reportedly represents a blockchain architecture with 500 millisecond block times, is fee-less for patrons, and leverages voting rewards to incentivize participation within the selection of block producers and proposals.

How does the WAX (WAXP) work?

Consensus Model

The protocol uses microservices layers with a DPoS consent algorithm that relies on a gaggle of block producers (WAX Guilds) to manage block production. The DPoS consent optimizes the nominal condition of honest nodes by improving the general performance of decentralized applications (dApps) and providing robust network connections on the blockchain.

Block Production

As token holders, investors can select produce tokens and WAX Guilds. This production needs to be scheduled. To avoid this, WAX Guilds do not receive rewards if they only produce 50% or less of their scheduled blocks.

Smart Contracts

As taken without any consideration, intelligent contracts play a vital role in the functioning of the ecosystem. It is often an NFT or the other collectible, for instance. The WAX RNG native blockchain service solves a number of the issues related to classic RNGs, like unfair, non-random values. To handle these problems, the WAX RNG allows dApp developers to integrate the service into their dApps easily, employing a Rivest–Shamir–Adleman (RSA) public-key cryptosystem.

Token Model

WAX has its token, which is a unit of currency for its exchange and buying NFTs. Most functions of the WAX token are staking, rewarding, and voting. As a token holder, you will stake your WAX tokens using compatible wallets within the protocol, like SQRL, Scatter, or Lynx. Further, employing a compatible wallet also allows you to vote. All you wish is to attach your wallet with the WAX blockchain account. Notably, as a token holder, you'll vote for up to 30 WAX Guilds (block producers mentioned above). Moreover, the strength of your vote relies on what percentage of WAX tokens you stake.

Finally, you will be able to receive so-called Staking Rewards if you stake your tokens and later use them to earn, vote for it. The WAX Blockchain administers the rewards for all of its users. Also, dApp developers can benefit from staking WAX because it helps to order computing resources.

Financial Analysis

WAX price today is $0.825581 with a 24-hour trading volume of $1,588,453,251. WAXP price has been up 32.0% within the last 24 hours. It's a circulating supply of 1.8 Billion WAXP coins and a complete supply of three.77 Billion. At the time of scripting this post (November 15, 2021), WAXP's Return On Investment (ROI) over the past year was 1,732%, underperformed in 'Protocol, Non-Fungible Tokens (NFT), Gaming' categories which had 1847% growth over the past year. WAX underperformed within the crypto market, which had 35745% growth over the past year.

Moreover, a capable marketing team and brand awareness have a right away impact on the success of any project. WAXP Network's marketing team is doing an excellent job! Our data shows that WAXP's Twitter account saw a growth of 107% over the last months within the number of followers, which is considerable. Also, the quantity of WAXP's Reddit subscribers increased by 19%. However, the Telegram channel users had a 16% growth over the last months.

Over the last five months, WAXP's market capitalization rank followed an overall increasing trend, starting at the rank of 189-170 on July-Sep 2021, reaching 162 in Oct 2021. However, by scripting, this post, WAXP's market cap rank is about 108, and its value is $1,511,964,642 Billion. Moreover, its liquidity score is 51% above the market's average score, making it relatively easier to sell in bear markets.


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