Learn more about WAX Coin.
WAX Coin Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This review of WAX Coin consists of three chapters: origin, technology and pros & cons.
WAX stands for Worldwide Asset Exchange. It is a decentralized platform enabling individuals to operate a completely functioning virtual market with zero investment in payment processing, infrastructure, or security. The founders of OPSkins developed this platform. It is one of the world’s top marketplaces for online video game assets. Therefore, OPSkins designed WAX to serve the population of approximately 400 million online players who are buying, collecting and selling game items already.
WAX Coins utilize the power of blockchain technology. WAX Coins not only allow the use of virtual goods in video games but also permits the virtual goods to get tokenized and exchanged conveniently for the cryptocurrency. Moreover, there is always a smart contract behind the transaction. This contract serves as a basis for a trustworthy trade between sellers and buyers. In addition, the platform allows a large population of traders to establish virtual stores of their own.
- The platform provides instant payments.
- The members of the WAX platform who are familiar with the assets and pricing of their most favorite games can provide appraisal services to the markets that require verification and evaluation services.
- The benefits provided here keep the ecosystem of the participants growing.
- This platform enables entrepreneurial makers and designers to create virtual assets of their own. Also, they can offer them for sale in the virtual marketplaces.
- If you are a WAX member, you can always earn significant fees by facilitating and reviewing transactions.
- WAX has enabled a whole new generation of virtual asset dealers, just like how the earlier online markets turned the entrepreneurs into power sellers.
- This platform is like a global virtual item repository that is accessible to all. Also, it provides a thorough catalog of all the items that are available for sale. The users of WAX can get access to worldwide market along with the advantages of the blockchain technology.
- There is a precondition before the functions like transfer and transfer from. The precondition involves rejecting the transfer of coins to the WAX Coin contract itself. This can lead to code duplication.
There were no critical or high severity problems identified when reviewing the technology of this coin. Overall, the benefits outnumbered the risks which could make it a world top cryptocurrency.