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WAX

WAXP

  • Layer1
  • Infra
Established Year
2015
Operating Status
Active
WAX is a purpose-built NFT blockchain that provides everything a brand needs to launch a successful NFT collection—from games and dApps to exchanges, digital marketplaces, and more. The WAX Blockchain utilizes Delegated Proof of Stake (DPoS) as its consensus mechanism, and it is backward compatible with EOS. WAX was designed to be the most comprehensive and climate-friendly NFT ecosystem in the industry, enabling leading brands, artists, creators, and developers to take advantage of the power of the blockchain.

Financial Portfolio

Funding

N/A
1 Investors
$250 K

Investment

Tea
Tea
Seed Plus
$8.9 M

Recent News

Frequently Asked Questions

What Is WAX (WAXP)?

WAX (WAXP) is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The WAX blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS. The custom features and the incentive mechanisms developed by WAX are intended to optimize the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals. To make this possible, WAX created a suite of blockchain-based tools which decentralized application ([DApp](https://coinmarketcap.com/alexandria/glossary/decentralized-applications-dapps)) marketplaces and non-fungible tokens can be built upon. Services such as WAX Cloud Wallet, SSO and OAUTH support e-commerce operations, the latter being a native RNG service and a developer portal. WAX’s blockchain architecture supports 500-millisecond block time and zero-fee transactions for customers. It also makes use of voting rewards to incentivize participation in the selection of block producers and improvement proposals.