crypto:what_is_waxp
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What is the WAXP Crypto Token?
WAXP is the native utility token of the WAX (Worldwide Asset eXchange) blockchain. Launched in 2017, WAX was specifically designed to make the trading of digital assets—like NFTs and video game items—faster, easier, and carbon-neutral.
- What makes WAX different?
Unlike many other blockchains that can be expensive or slow, WAX focuses on a “consumer-first” experience:
- Zero Gas Fees: For the average user, transactions (like buying or sending an NFT) are free.
- High Speed: Blocks are produced every 0.5 seconds, making trades nearly instantaneous.
- Eco-Friendly: WAX uses a “Delegated Proof of Stake” (DPoS) system that is significantly more energy-efficient than Bitcoin or older versions of Ethereum.
- WAX Cloud Wallet: One of its biggest draws is a wallet that lets you sign up using social media (like Google or Facebook) without having to manage complex private keys.
- How the WAXP Token works
The WAXP token is the “gas” and currency of this ecosystem. It has three primary roles:
- Staking for Resources: To perform actions on the network for free, you “stake” (lock up) WAXP. This gives you a share of the network's processing power (CPU), bandwidth (NET), and storage (RAM).
- Governance: By staking WAXP, you earn the right to vote for “Guilds” (the entities that run the network) and other proposals.
- Rewards: Users who stake their tokens and participate in voting earn more WAXP as a reward.
crypto/what_is_waxp.1766788083.txt.gz · Last modified: by deathrequiem