Buy WAX (WAXP)

WAX, or Worldwide Asset eXchange, is a blockchain platform focused on e-commerce and digital assets, such as non-fungible tokens (NFTs) and virtual goods. Launched in 2017, the platform is designed for fast, secure, and cost-free transactions. WAX utilizes the Delegated Proof-of-Stake (DPoS) consensus mechanism, allowing transactions to be processed quickly, with a block time of just 500 milliseconds. This makes WAX ideal for trading digital assets in the gaming world and on NFT marketplaces.

What differentiates WAX is its focus on e-commerce and digital assets. The platform functions as a decentralized hub for trading digital items, such as collectibles and in-game assets, without the interference of central authorities. The WAXP token, the native token of the platform, is used for transactions, voting procedures, and staking rewards.

WAX operates on the EOSIO platform, ensuring secure and efficient transactions. Additionally, transactions are free for end users, making the platform attractive for users who regularly trade digital assets. The dApp ecosystem on WAX is optimized for NFT marketplaces and provides developers with tools to create games and virtual worlds. For instance, the popular Alien World Metaverse is built on WAX, quickly becoming the most played blockchain game.

Furthermore, WAX makes a commitment to sustainability. As a carbon-neutral blockchain, the platform offsets its emissions, including through tree planting, making WAX appealing to users who value the environmental impact of blockchain technology.

Who founded WAX?

WAX was founded by William Quigley and Jonathan Yantis, seasoned entrepreneurs in the technology and blockchain industries. Quigley, holding an MBA from Harvard, previously worked at Disney and as a venture capitalist, while Yantis serves as COO of WAX and was formerly COO of OPSkins, a major marketplace for virtual goods. The WAX team comprises professionals with extensive experience in e-commerce, blockchain technology, and gaming, resulting in a platform that meets the needs of users and developers in the digital economy.

WAX offers users and developers a versatile blockchain ecosystem that not only serves as a marketplace for digital assets but also provides various tools and features for both end users and developers. Some applications of WAX include:

• NFT marketplaces: WAX provides a platform for trading NFTs, such as collectibles, in-game items, and artworks. Users have access to secondary marketplaces like AtomicHub to buy and sell NFTs.
• Gaming: Players can own and trade digital properties, such as in-game items. Well-known games like Street Fighter and Hot Wheels use WAX for NFTs.
• E-commerce: WAX enables businesses to integrate blockchain technology into their e-commerce platforms for secure, fast, and fee-free transactions of digital goods and services.
• Staking WAXP: Users can stake WAXP tokens to vote on block production and receive rewards in the form of WAXG and ETH.
• DAOs and governance: WAX offers governance solutions through WAXG tokens, allowing token holders to vote on platform improvements and key decisions.

WAX utilizes the Delegated Proof-of-Stake (DPoS) consensus mechanism, with block production managed by a select group of block producers, the WAX Guilds. These Guilds are chosen by token holders, who can stake their WAXP tokens to vote for their preferences. Thanks to the DPoS system, blocks are produced efficiently, with a block time of just 500 milliseconds. This system prevents delays and increases transaction speed on the platform.

WAX blockchain and DPoS

In the DPoS system, each WAX Guild produces one block per timeslot. If a Guild fails to produce its block on time, that timeslot is skipped, and no block is added, promoting efficiency. Guilds that produce less than 50% of their scheduled blocks receive no reward, incentivizing them to produce blocks promptly.

WAXP, WAXE, and WAXG tokens

The WAXP token is at the heart of the WAX ecosystem. Users can utilize WAXP for NFT transactions, voting on block production, and participating in platform governance. Through the Ethereum bridge, WAXP can be converted into WAXE, an ERC20 token on Ethereum. WAXE can be staked to earn WAXG tokens, which can then be used for governance purposes.

WAX Cloud Wallet and dApps

The WAX Cloud Wallet is a user-friendly tool for securely storing and executing transactions with digital assets. The wallet supports NFTs and can be connected to dApps, allowing users to directly engage in the WAX ecosystem without external wallets. WAX also provides developers with a platform to build and launch dApps, supported by the tools and resources of the Developer Hive.

Staking and rewards

Users can stake WAXP tokens to participate in platform governance and receive rewards. Staking can be done via WAX's Ethereum distribution contracts, where rewards are distributed in the form of WAXG tokens and ETH, depending on the number of staked tokens and activity on the platform.

WAXP is the native token of the WAX blockchain and plays an essential role within the ecosystem. Users can utilize WAXP for various purposes, such as purchasing NFTs, voting on proposals for platform development, and paying transaction fees on the WAX blockchain. Additionally, token holders can stake their WAXP to participate in the DPoS consensus mechanism and receive rewards in the form of WAXG and ETH. The WAXP token also plays a significant role in the platform's governance, as it enables token holders to vote on WAX Guilds, the network's block producers.

The maximum supply of WAXP is set at 3,770,303,327 tokens, distributed across categories such as sales, market development, and the WAX team. WAXP is used for staking, voting rights, and other economic activities that support the functioning of the WAX ecosystem. This makes WAXP a versatile token important for both users and developers.

WAX is a pioneer in the blockchain and NFT space, with innovative features that distinguish it from other projects. The platform not only offers efficiency but also unique benefits for users and developers. Here are five attributes that give WAX an edge:

• Carbon-neutral blockchain: WAX is a carbon-neutral platform actively minimizing its ecological footprint by maximizing energy efficiency and offsetting carbon emissions. This is rare in the crypto industry, which is often associated with high energy consumption.
• Zero transaction fees: Unlike many other blockchains where users pay a fee for each transaction, WAX offers completely free transactions. This makes the platform particularly appealing to traders and gamers who frequently trade digital assets.
• Direct integration with popular NFT marketplaces: WAX provides seamless access to major NFT marketplaces like AtomicHub and Myth.Market, allowing users to easily buy, sell, and trade digital collectibles without navigating across multiple platforms.
• Built-in staking and governance via WAXG: WAX offers an advanced system for staking and governance, allowing users to convert WAXP into WAXE to earn WAXG tokens. WAXG gives token holders voting rights on significant platform changes, enabling them to actively contribute to the evolution of the platform.
• Support for gaming and metaverse applications: WAX is designed with gaming and metaverse in mind, offering a robust ecosystem for in-game economies, digital collectibles, and virtual worlds. This makes the platform an ideal choice for game developers seeking blockchain integration.

Want to buy the WAXP token? You can do so through Bitvavo. Our platform is suitable for both beginner and experienced traders . Buying WAXP via our website or app is possible. Follow these steps to purchase WAXP directly:

1. Log in or register a Bitvavo account.
2. Deposit funds into your account by clicking "Deposit".
3. Go to the WAXP purchase page.
4. Enter the desired amount in euros or select the number of WAXP tokens you wish to buy and click "Buy".

Want to securely store your WAXP tokens? This can be easily done in your Bitvavo account. The majority of client funds are stored in secure offline cold storage, providing extra protection. We also recommend enabling two-factor authentication (2FA) for an additional security layer. With 2FA, you enter a unique code along with your password when logging in, enhancing your account security.

Besides Bitvavo, you can also store WAXP in most software and hardware wallets that support this token. If you want to move your WAXP tokens to an external wallet, first verify the wallet address in your Bitvavo account. After that, you can quickly and easily send your tokens to your external wallet.