What is WAX

What is WAX? WAX Resources. What is AtomicHub? Examples of projects on WAX.

What is WAX?

WAX (WAXP) is a blockchain platform launched in 2017 that aims to make e-commerce transactions faster, easier, and safer. It uses delegated proof-of-stake (DPoS) as a consensus mechanism and is fully compatible with EOS.

View of the WAX WALLAT main page

WAX has also created a set of blockchain-based tools for building decentralized application (DApp) markets and non-fungible tokens (NFTs).

Services such as the WAX Cloud Wallet, SSO, and OAUTH support e-commerce operations, and the WAX blockchain architecture has a 500ms lock time and no transaction fees for customers. It also uses voting rewards to incentivize participation in block producer selection and improvement proposals.

WAX Resources

In WAX, there is essentially no usual commission fee for any transaction.

Instead, there are available system resources for each user. For ordinary needs, such as buying or selling something every few days, the resources provided by WAX itself are enough to create a new profile first. However, in order to interact more or play games, you will need to make transactions more often. Certain resources are used to carry out these transactions, as well as to store a certain number of NFTs in the wallet:

  • CPU
  • NET
  • RAM

To increase the volume of the first two resources, you need to stake a certain amount of WAX coin, which means that you will be able to recover these coins over time if necessary. As for the third parameter, namely RAM, here you are already buying forever, it is impossible to return your WAX for staking.

WAX Resources

What is AtomicHub?

AtomicHub is a popular marketplace on the WAX system where users can search for, buy, and sell NFT projects. There are many projects on WAX, including collections of images or moments from sports games, as well as various gaming NFTs. However, it should be noted that like other projects, some may eventually die, so it is best to enter a project, break even by withdrawing some funds, and continue earning while the project is still active.

AtomicHub marketplace

Also in your own profile, you can see all your active NFTs and other information about them and the whole profile in general. Here you can put any NFT for sale, or change the price of an already put NFT.

Profile on the AtomicHub

In addition to its use in e-commerce, WAX has also been used in the gaming industry to create and trade non-fungible tokens (NFTs). These NFTs can be used to represent in-game items, characters, and other assets, and are stored on the WAX blockchain. Users can buy, sell, and trade these NFTs on marketplaces like AtomicHub.

One of the key benefits of using WAX for gaming is that it allows for low-cost and near-instant transactions, making it easy for players to buy and sell in-game items without incurring high fees or experiencing delays. Additionally, because the NFTs are stored on the blockchain, players can be sure that the items they own are unique and cannot be duplicated.

Examples of projects on WAX

WAX has been used for a variety of games, including

  • Alien Worlds
  • Splinterlands
  • ColonizeMars.

Some of the once popular games such as :

  • Farmars World
  • Pagangods
  • Farmingtales.

Conclusion

Overall, WAX is a useful blockchain platform for the gaming industry because of its low transaction costs and fast transaction times, as well as its ability to securely store and trade non-fungible tokens. However, as mentioned before, it’s important to be aware that projects come and go, so it is recommended to be cautious when investing in any project and not to hold onto profits with the hope that they will “grow more”.

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