Wax Blockchain

The extract below is from learn.bybit.com.

WAX, or Worldwide Asset eXchange, is a carbon-neutral designed for e-commerce transactions. It's specifically known for trading digital assets.

WAX blockchain is hyperfocused on video games and virtual collectibles. As a result of continuous innovation in the field, it has become one of the most recognizable web3 ecosystems to provide everything a brand needs to launch a successful NFT collection. In fact, it is the most used and transacted blockchain ecosystem in the world of NFTs, DApps and video games.

To optimize the blockchain's e-commerce usability, it uses a delegated proof of stake (DPoS) mechanism thatโ€™s compatible with EOSIO. This combination of DPoS and EOSIO compatibility helps the blockchain achieve greater speed and scalability.

Currently, the platform supports over 30,000 useful DApps and marketplaces for gaming and NFTs. Its rapid development is primarily due to the backing of the parent company, OPSkins, which was previously a leading global brand for buying and selling digital items.

It's commonly believed that OPSkins has been the primary driver for the trust that numerous high-profile gaming brands โ€” such as Atari, Mattel, SAW and Street Fighter โ€” have placed in WAX blockchain to promote their digital assets within the virtual gaming ecosystem.

Last updated