Worldwide Asset eXchange

Worldwide Asset eXchange (WAX) is a decentralized marketplace for the exchange of video game virtual assets. WAX Platform is virtual goods marketplace allowing users to purchase goods with a global token. The president of WAX is Malcolm CasSelle, who previously worked on a marketplace for video game assets called OPSkins. Other key team members include CEO William Quigley, COO Jonathan Yantis, and lead designer John Brechisci Jr.

The WAX Token contract was audited by Zeppelin Solutions and no critical or high severity issues were found.

The cryptocurrency hedge fund Galaxy Investment Partners managed by Mike Novogratz is an investor in the project.

WAX (WAXP) is a purpose-built blockchain, released in 2017, that is designed to make e-commerce transactions faster, simpler and safer for every party involved. The WAX blockchain uses delegated proof-of-stake (DPoS) as its consensus mechanism. It is fully compatible with EOS.

The custom features and the incentive mechanisms developed by WAX are intended to optimize the blockchain’s utility specifically for use in e-commerce, with the goal of encouraging voting on proposals.

To make this possible, WAX created a suite of blockchain-based tools which decentralized application (DApp) marketplaces and non-fungible tokens can be built upon.

Services such as WAX Cloud Wallet, SSO and OAUTH support e-commerce operations, the latter being a native RNG service and a developer portal. WAX’s blockchain architecture supports 500-millisecond block time and zero-fee transactions for customers. It also makes use of voting rewards to incentivize participation in the selection of block producers and improvement proposals.