What is WAX

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9 months ago
Topics: Blockchain, Crypto, Fun, Money, WAX, ...

WAX (Worldwide Asset eXchange) is a decentralized marketplace for buying and selling virtual assets, such as in-game items and collectibles. It was launched in 2017 by the founders of OPSkins, a popular marketplace for buying and selling virtual items for video games.

The price of WAX at the time of writing is $0.04699.

Wax is built on the EOS blockchain, which means it uses a decentralized network of computers to securely record transactions and prevent fraud. It also uses smart contracts, which are self-executing contracts with the terms of the agreement written into the code, to automate the buying and selling process.

One of the main advantages of the Wax blockchain is its fast transaction speeds and low fees. This makes it well-suited for buying and selling virtual items, which often have a high volume of transactions but a low value.

There are several projects that use the Wax blockchain, including WAX Cloud Wallet, a user-friendly wallet for storing and managing virtual assets; WAX Explorer, a tool for viewing and searching the Wax blockchain; and WAX Guilds, a decentralized platform for virtual asset creators to sell their items directly to customers.

In addition to virtual assets, the Wax blockchain can also been used for voting systems, supply chain management, and other applications that require a secure and efficient way to track and verify transactions.

Pros of the Wax blockchain:

  • Fast transaction speeds: The Wax blockchain is known for its fast transaction speeds, which makes it well-suited for buying and selling virtual assets.

  • Low fees: Transactions on the Wax blockchain often have low fees, which makes it an affordable option for users.

  • Decentralized: The Wax blockchain is decentralized, which means it is not controlled by a single entity and is more resistant to censorship.

  • Versatility: The Wax blockchain has been used for a variety of applications, including voting systems, supply chain management, and more.

Cons of the Wax blockchain:

  • Limited adoption: While the Wax blockchain has gained traction in the virtual asset market, it has not yet reached the same level of adoption as some other blockchain platforms.

  • Dependence on EOS: Wax is built on the EOS blockchain, which means it is subject to the same issues and limitations as EOS.

  • Complexity: Some users may find the Wax blockchain and its associated tools and processes to be complex and difficult to understand.

The WAX blockchain is a decentralized platform that enables the creation and use of virtual assets, such as collectible items and in-game currencies. As such, it is used by a variety of games that allow players to collect and trade virtual assets.

Here is a list of some popular games that use the WAX blockchain:

  1. CryptoKitties: A collectible game that allows players to breed, raise, and trade virtual cats.

  2. Axie Infinity: A collectible game that lets players breed, raise, and battle fantasy creatures called Axies.

  3. The Forge Arena: The Forge Arena is the first tactical competitive FPS game to utilize blockchain technology through NFTS and Play & Earn mechanics. Aimed to be the world's first Esport on the Blockchain.

  4. ClashDome:Clash Dome is a casual NFT game portal. Addictive and easy to learn. The project is in constant expansion adding new games and features regularly and has a strong focus on community mechanics.

  5. CosmicClash: Create an armada of the most powerful starships to defeat other players in this Play&Own game! Through strategy, you will discover the perfect combination. Climb the leaderboard and win prizes!

  6. MechaWorld: A post-apocalyptic Play&Own game with Mecha animals. Level up your Mechas by sending them on quests, face other players in battles and customize the looks of your unique Mecha by fitting parts.

  7. FarmingTales:The NFTs represent real tools that every farmer needs. Strategically collect farming NFTs and put them to their best use to reap huge rewards in the form of SEST tokens.

  8. Taco crypto: A game where you build taco stands and mine coins. There is a lot more to it than that. Taco is one of the best up-and-coming games on the WAX Blockchain.

  9. Alien Worlds: Alien Worlds is a DAO and NFT metaverse. Use NFTs to earn the fungible token, Trilium, which you can then stake into one or more of the Planetary DAOs.

  10. : Splinterlands: Splinterlands is a collectible card game where each card has a unique feature or attribute, making characters stronger and more likely to win.

These are only some of the many games that use the WAX Blockchain. As time goes on more and more games and utilities are being created. If you would like to see what the WAX Blockchain has to offer then check out the official WAX website.

Overall, the Wax blockchain has established itself as a valuable platform for buying and selling virtual assets, and its versatility and fast transaction speeds make it an appealing choice for a variety of use cases.

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9 months ago
Topics: Blockchain, Crypto, Fun, Money, WAX, ...