What Will The WAX Platform Do?
Worldwide Asset eXchange (WAX) platform will eliminate the geographic fragmenting issue. Currently, user who are not transacting with a common utility token are declined unless they have assistance. WAX token is universal for everyone, no matter the location. This remedy will also fix FOREX issues that are hitting the virtual asset markets.
How Does Blockchain Technology Help?
The blockchain technology for WAX is ran by a special algorithm called DPOS. This is the most decentralized, flexible, fastest, efficient consensus model around. DPOS is special because it uses elected confirming nodes that are picked by players who have voted for proposed delegates. This makes WAX’s structure decentralized and democratic. To start there will be 64 guilds to pick from, and they be will set in order of rank, based on the vote count. The weight will be based on the game the guild supports.
How Are WAX Tokens Used?
WAX tokens are like stored value for transactions as well as binding agreements for selling, buying, trading and renting. The WAX setup lets sellers and buyers across the globe have access to the entire marketplace. There will be no financial risk like users have to deal with on the consignment marketplace platform. WAX’s president Malcolm CasSelle is proud of the platform. He says the gaming industry will start launch the cryptocurrency into the mainstream.
The virtual asset store is full of security and fraud issues at the moment. Users of the marketplace are dealing with incomplete assets and delivery issues from sellers. The remedy is best completed with the blockchain technology. Centralized markets require several middlemen to keep fraudulent activity at bay, which takes up a lot of resources and causes the transactions to cost more. Even though OPSkins has helped resolve most of these problems, eliminating the chance of fraud at all can only be completed by using a smart contract. That’s something that guarantee’s the transaction and asset delivery.
About Malcolm CasSelle
Malcolm CasSelle is the president of WAX. He is also the CIO of OPSkins, the most successful of in-game transactions. OPSkins is also the main bitcoin merchant in the world. CasSelle studied computer science and has earned his master’s degree. He attended both the Massachusetts Institute of Technology and Stanford University.