Technology

Why WAX blockchain?

"WAX is the most used and transacted blockchain ecosystem in the world for NFTs, dApps and video games — providing the safest and most convenient way to create, buy, sell and trade both virtual and physical items to anyone, anywhere in the world"

While a transfer of an NFT can cost tens of dollars and take minutes on a network like Ethereum, a similar transaction on WAX is both free and takes only 0.5 seconds.

This is thanks to the resource model and consensus mechanism the WAX blockchain uses. It uses a Delegated Proof of Stake (DPOS) mechanism, which is a third generation consensus mechanism in which token holders get to elect their top 21 block producers (miners). Thanks to the high efficiency of the consensus mechanism it is capable of supporting thousands of transactions per second.