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What is WAX? ($WAXP)

August 30, 2021

What is WAX? ($WAXP)

At its core, WAX represents an interconnected ecosystem of online marketplacesgames, and unique digital goods called ‘Non-Fungible Tokens’ (NFTs).

Every action on the WAX platform, including the creation and sale of NFTs, is recorded on an independently verified, immutable ledger called a blockchain.

The WAX blockchain was purpose-built with eCommerce in mind -- It utilizes a unique verification protocol to maintain fast and zero-cost transactions.

All transactions on the WAX blockchain are priced in units called WAXP, which can be bought and sold for USD using a cryptocurrency exchange. 1 WAXP = ~$0.38

Cryptocurrency-related chatter surrounding WAX and WAXP shows a strong uptrend in adoption, with Mentions trending +107% QoQ and +1132% YoY (30d moving average).

WAX already boasts an incredibly robust userbase, with more than 6 million WAX cloud wallet accounts, 555,000 daily active users, and 17 million daily transactions.

This blockchain has a lot of special features that help it stand out from the crowd and adoption is surging.

Be on the lookout for a deeper analysis of this promising project in the near future.

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