WAX (WAXP) is a blockchain specifically designed to make e-commerce transactions faster, simpler, and more secure for all involved parties. Launched in 2017, the WAX blockchain utilizes a delegated proof-of-stake (DPoS) consensus mechanism and is fully compatible with EOS.
What is WAX (WAXP)?
WAX has developed unique features and incentive mechanisms aimed at optimizing the blockchain’s utility for e-commerce usage, encouraging voting on proposals. To achieve this, WAX has created a suite of blockchain-based tools upon which decentralized application (DApp) marketplaces and non-fungible tokens can be built.
The WAX Cloud Wallet, along with services like SSO and OAUTH, supports e-commerce transactions, with SSO acting as a native RNG service and a developer portal. WAX’s blockchain architecture facilitates a 500-millisecond block time and zero-fee transactions for consumers. It also benefits from voting rewards to encourage participation in block producer selection and optimization proposals.
WAX also features a WAXP-Ethereum (ETH) bridge that allows WAXP token holders to convert their tokens into WAXE, an Ethereum-based ERC20 utility token. Users wishing to participate in WAX tokenomics must burn their WAXP tokens to transfer WAXE through the Ethereum bridge, then stake their WAXE tokens in the Ethereum distribution contract.
WAXG is an Ethereum-based ERC-20 governance token distributed to WAXE stakers. The distribution is based on a specific timetable and proportional to the percentage of the WAX Economic Activity pool. This allows token holders to manage the allocation and distribution of economic value on the platform.
The WAX Economic Activity pool is a smart contract that accumulates a specific percentage of generated WAX fees, converting them into ETH for distribution among WAXE stakers. It can also be given to WAXG token holders who decide to burn their tokens.
In addition, WAX was co-founded by William Quigley and Jonathan Yantis. William Quigley studied at the University of Southern California before working at Disney. After leaving Disney in the early 1990s, he earned an MBA from Harvard and became a venture capitalist. Quigley, who is also the general manager at Magnetic, played a pivotal role in creating WAX.
Jonathan Yantis serves as the COO of WAX and was the COO at OPSkins.
How to Buy WAX Coin?
WAXP Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by volume. To buy WAXP Coin, one must first register with Binance and then deposit fiat currency. Following the deposit of a fiat currency like or USD, one can purchase Bitcoin (BTC), Tether (USDT), Binance Coin (BNB), and BUSD to then trade for WAXP Coin in the ERWAXP N trading pair.
In addition, Binance allows users to place buy orders not only at market value but also at a lower price. To do this, use the Limit tab and enter the amount and price you want to purchase at.
