WAX (Worldwide Asset eXchange)

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WAX Explainer video

WAX ( Worldwide Asset Exchange ) at www.wax.io is a decentralized platform that enables users to operate a fully functioning virtual marketplace ​ with zero investment in security ​, infrastructure, or payment processing ​. Its protocol serves as a decentralized blockchain solution that focuses on the seamless transfer of virtual goods.

WAX was developed by the founders of OPSkins ​, the world’s leading marketplace for online video game assets ​ and is designed to serve the 400+ million online players who already collect, buy, and sell. With the inclusion of WAX’s simple exchange widget ​, gamers will have access to a worldwide market, with ​trust and transaction verification ​. [2] [3]

History

The WAX platform was developed by the same people who created OPSkins. OPSkins is the world’s biggest marketplace that allows for a streamlined exchange of video game-related goods and assets.

William Quigley is currently in charge of all company operations. He has been in the gaming industry for over 20 years, and is also Managing Director at Cashel Enterprises. John Brechisci is the co-founder and CTO of OPSkins. He is responsible for the design and handling of the WAX (Worldwide Asset eXchange) platform. [11]

Vision

WAX was started with the goal of solving many of the issues that plague the virtual item ​ trading industry. The virtual item trading industry is fragmented across hundreds of competing marketplaces. Each utilizing different business practices tailored for their region of the world, which creates territorial supply and demand imbalances. [2]

The WAX team believes the ideal solution to this problem is a global virtual item repository, accessible to anyone, that provides a complete catalog of all items available for sale in real time. Such a repository, when coupled with a reliable, low cost settlement network ​, would improve price discovery ​ and market liquidity ​which would increase market size. ​ [3]

Technology

WAX's protocol is primarily focused on serving the rapidly growing gaming industry, but it has been configured in such a way that it is able to conform to the needs of various other retail market segments. Also, to meet the high throughput demand of the global market, WAX makes use of a DPOS (Delegated-Proof-Of-Stake) ​ consensus algorithm that has been chosen primarily for its use of “guilds” and other smart technological solutions. [11]

WAX Connect

WAX Connect is a browser-based SDK that provides a set of functions allowing the building of listing widgets. You can also perform wallet transactions on remote wallets, or perform seamless onboarding of new users into the WAX platform. WAX Connect also performs automatic node discovery based on the guild (like the game or game/server) affiliation, and enables the retrieval of listings from guild nodes.

WAX Node

WAX Node is the “full node” run by guilds. It provides a gateway to the overall WAX platform. Each full node holds a complete copy of the WAX blockchain.

WAX Wallet

The WAX wallet allows non-guild WAX users to hold WAX tokens and participate as a DPOS delegate.

WAX Core

WAX Core will be an SDK that encapsulates the common functions of WAX Node and WAX Wallet. WAX Core will enable forging of delegates. It will also provide blockchain synchronization, and will include the complete developer API. If you want to build applications on top of the WAX platform, then you’ll want to use WAX Core. [10]

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Team

WAX​ founders include CEO William Quigley, Lead Designer John Brechisci, Jr. ​, and COO Jonathan Yantis ​​.​ They are the team behind OPSkins ​, which is the world’s leading marketplace for online video game assets. [2]

WAX's advisors include top video game industry professionals, such as Dave Anthony the Creator and Developer of Call of Duty ​​, Brian Fargo the Founder of Interplay Inc. ​ and inXile Entertainment ​​, and Ken Cron the former CEO of Vivendi Universal Entertainment ​ (including Blizzard Entertainment ​, World of Warcraft ​)​. [2]

WAX's advisors have included cryptocurrency ​ and technology industry veterans including Scott Walker the Founder and CEO of the National Data Corporation, Anthony Di Iorio the CEO and Founder at Jaxx & Decentral ​ as well as a Co-founder at Ethereum, Michael Maloney the WAX System Architect and former Blockchain CTO at EY ​, Michael Terpin the Founder and CEO of Transform Group, and Aaron Voisine ​ the Founder and CEO of Breadwallet. ​ [2]



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