The WAX (World Asset eXchange) Protocol is a Delegated Proof of Stake blockchain based on the EOS.IO SDK. WAX claims its consensus model gives it the potential to be one of the fastest, highest-throughput blockchains.
William Quigley, Co-Founder of WAX says, “Most crypto wallets are still way too difficult for a mainstream audience.”
Wax’s cloud wallet will allow users to sign in through social media platforms and set up a wallet. This process doesn’t require one to download or set up another crypto wallet in order to access WAX Dapps. With lesser barriers and easier access into crypto, WAX aims to accelerate Dapp adoption in the upcoming year.
Background
WAX was created by the team behind the OPSkins game item trading platform. The latter is a marketplace for game assets, electronics, merchandise and more. However, WAX’s more prominent ventures come from first-party platforms such as VGO and vIRL, which have generated $400 million in trading volumes. For the uninitiated, VGO is a skins trading platform and vIRL is a service where users can trade certified real-world items, using WAX blockchain.
Gaming
The popular Dapp game Prospectors is an actual example of how people are onboarding WAX. Launched last week, it has already surpassed the all-time high number of users. Prospectors now has 5,500 active ones daily (data for 12th December).
WAX is also looking to integrate ERC721 on Ethereum and dGoods on EOS.
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