WAX was launched in 2017 and has since become a leading platform for the creation and trading of virtual assets. The platform has been used to create and trade a wide range of NFTs and digital collectibles.
The main purpose of WAX is to provide a secure and efficient platform for the creation and trading of virtual assets. The platform is designed to be user-friendly and accessible, with a focus on making it easy for users to create and trade their own NFTs and digital collectibles.
WAX is designed to be easy to use and accessible to a wide range of users. The platform offers a user-friendly interface for creating and trading NFTs and digital collectibles, as well as a range of tools and resources to help users get started.
WAX uses a delegated proof-of-stake (DPoS) consensus algorithm to secure the network. This algorithm uses a set of 21 block producers who are responsible for validating transactions and creating new blocks on the blockchain. The block producers are selected by token holders who stake their WAXP tokens to vote for the producers they believe are best qualified to secure the network..
One of the unique features of WAX is its focus on virtual assets and NFTs. The platform is designed specifically for the creation and trading of these assets, with a range of tools and resources to help users get started. WAX is also known for its user-friendly interface and focus on accessibility, making it a popular platform for creators and collectors alike.
WAX is designed to be more energy-efficient compared to other blockchains, thanks to its use of a DPoS consensus algorithm. This algorithm is designed to be more efficient compared to proof-of-work (PoW) algorithms, which are used by many other blockchains.
WAX is a leading platform for the creation and trading of virtual assets, including NFTs and digital collectibles. With its user-friendly interface, focus on accessibility, and efficient DPoS consensus algorithm. WAX is well-positioned to continue to grow and attract new users in the years to come.