The WAX trading platform is one of the main markets in the digital assets, representing video games and this kind of content. The WAX abbreviation can be decoded as Worldwide Asset eXchange. Today, in the virtual games market, you can easily buy different characters, weapons and valuable items. Therefore, WAX developers have focused on decentralized file sharing based on a peer-to-peer network.
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The virtual games market has four hundred million people worldwide. And the volume of trading exceeds fifty billion dollars. The WAX shell helps to find the necessary asset, make transactions and invest in this currency using smart-contracts.
The management of WAX tokens is carried out based on delegation of the DPOS confirmation. This means that in addition to commission fees on the platform, there is a vote on the reliability of network users. The evaluation of participants in the exchange is distributed among 64 groups. They were created to maintain the continuous operation of the network.
Using the algorithm for coordinating transactions, the network provides a higher transaction speed. In addition to the traditional functionality for cryptographic platforms, WAX has a Transfer Agents module. It is responsible for transferring rights to the digital asset to third-party users.
Thus, intermediaries profit from the sale and exchange of assets in the WAX cryptocurrency. The additional powers of the agents include the process of discussing all issues with interested people and controlling the completion of transactions.
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At the end of 2017, the WAX founders' team held an ICO fund-raising event. As a result, sixty-four million coins were realized. After a sharp increase in capitalization, earlier this year, WAX cryptocurrency stopped its growth and stabilized at around 30 cents per coin. The popularity of the network positively affected the trade in coins. Therefore, all major online exchanges offer to buy or sell WAX.
Editor: Yuliya Soroka