Blockchain development is the most sought-after practice carried out these days and ages. It combines NFTs, Defi, web3, NFT marketplace, and metaverse to form an ecosystem. Due to its versatile nature, many business owners are into blockchain development.
In a blockchain, NFTs are minted for various purposes, accompanied by higher energy consumption. This issue is often neglected while minting Non-Fungible Tokens, and it might play havoc in later days. Thus, green blockchain development is required.
Suffescom Solutions has the way out for this. Our WAX blockchain development services are energy efficient and carbon neutral, posing no threat to the atmosphere. If you are interested in the “Go Green” philosophy, consult our experts to get premium services.
Some quick facts about WAX:
All these facts may trigger you towards WAX. If this is the case, let’s begin with some basics of the WAX blockchain…
WAX stands for “Worldwide Asset eXchange.” As the name suggests, it enables users to trade NFTs all across the globe without any geographical boundaries. It is recognized as a green minting machine purposely built for e-Commerce through dApps (decentralized applications), NFTs, gaming, virtual worlds, and unique collectibles.
WAX serves as the home to numerous blockchain game development platforms like Farmer’s world, Prospectors, Alien Worlds, and other P2E games. It also provides dApps and unique marketplaces to its users.
On the WAX blockchain, users can buy or sell assets anywhere. This phenomenon has attracted millions of users as they find potential in WAX. With its rising popularity, it is not going to die so soon. Industries also realized this fact; thus, they are now moving ahead with Wax Blockchain.
WAX offers peer-to-peer trading, global community access, asset exchange, and facilitation services. WAX blockchain enables users to participate in gaming, dApp, trading bitcoins, buying and selling cryptocurrency, and various other services. WAX, with its unique tokenomic model, provides incentives to WAX token holders within the community. The future belongs to WAX! Our team is well-versed in WAX blockchain development and can provide you with some of the best WAX tools.
The delegated Proof-of-stake (DPoS) consensus is the mechanism behind the WAX blockchain. DPoS is the extended version of the traditional PoS model where anybody can delegate their coins. Token holders charge tokens to others, giving them the power to confirm the transactions. This system also gives the right of voting to token holders.
A delegate validates a block, other delegates confirm, the transaction gets approved, consensus reaches within seconds, and all participants earn staking rewards. If DPoS is compared with Bitcoin’s PoW (Proof-of-Work), then DPoS comes out to be more energy efficient. The energy consumed by Bitcoin PoW is 72 TW per year, far more than the energy consumed by WAX, i.e., 0.00023 TW.
Now, let’s get into the exclusive features of the WAX blockchain. So, continue reading below:
As you know blockchain and nft transactions consuming the energy at wide range. So we are creating wax based business app for your startups. Get consulation regarding green blockchain development solutions.
Are you curious to know about the exclusive characteristics of Wax Blockchain? Find them below:
Several components are associated with the WAX tokenomics structure. Let’s have a look:
WAXP is a native fourth-generation utility token. WAXP tokens can be converted into WAXE tokens using the Ethereum bridge.
This is an ERC-20 Ethereum-based token. Users need to burn WAXP tokens through the Ethereum bridge to access these tokens.
This token is generated by depositing WAXE tokens and ETH into the WAXE-ETH Liquidity Pool (LP). Users can stake these tokens in the WAX Economic Activity Pool.
WAXG denotes the governance token, enabling its holders to vote on protocol updates and changes. These tokens are also recognized as an Ethereum-based ERC-20 tokens.
The WAX tokenomic model gets completed with the WAX Economic Activity Pool. The smart contract on Ethereum manages two pools: the Distribution Pool (collects WAX fees) and the PiggyBank Pool (accumulates and distributes ETH in exchange for WAXG tokens).
Visit our website Suffescom Solutions, and have a word with our Wax smart contract developer! He will guide you through all ins and outs of smart contracts and WAX.
As you know blockchain and NFT transactions consumes energy at wider range. So we are focusing on creating wax based platforms for businesses. To get information related to green blockchain development solutions, get consultation from our experts.
Check out the Advantages of the WAX Blockchain
Blockchain is always advantageous. We all know this thing! However, WAX blockchain comes with many additional benefits listed below:
Our expert WAX developers have differentiated the benefits of WAX for NFTs and GameFi.
The absence of transaction costs is the most obvious advantage. This advantage may not appear to be a significant difference, but it opens up a new world of possibilities for NFT platforms and games.
Another significant advantage is the low cost of producing NFTs. Creating Environmentally Friendly NFT Platform on a blockchain like Ethereum can cost tens of thousands of dollars, whereas the cost of building an NFT is 151kb of RAM on the blockchain, which corresponds to 0.09 WAX, which has a value of $0.03 at the time of writing. This, combined with free transactions, makes creating and trading NFTs that accessible to everyone and allows the development of more exciting concepts that do not rely on the NFT(s) in question having a high price.
In addition to an NFT-friendly ecosystem, WAX is home to Atomic-hub, one of the largest and most convenient NFT marketplaces development platform. Atomichub can support the instant trading of NFTs because it has well-defined NFT standards and a fast and scalable network. In addition, they have an easy-to-use NFT creator that allows anyone with a WAX account to create an NFT in minutes at no extra cost. Furthermore, tools like Neftyblocks allow for the free creation of packs, providing creators with all the tools they need to get started.
Our fully customized White label WAX NFT marketplace development solution is embedded with advanced features and technologies.
WAX is a feasible location for the next generation of blockchain games in addition to NFTs. The fee-free transaction model, combined with a highly scalable network, has enabled the development of games that can support thousands of users without issue.
Games leverage NFTs in many aspects of their gameplay, such as governance, battles, etc. Some developers are taking their game to the next level by deploying it on multiple blockchains, allowing them to deploy the most demanding aspects of their game on the WAX blockchain while leveraging user bases on other blockchains.
The marketplace, Atomichub, provides a secure and convenient location for game players to buy, trade, and sell in-game assets. The marketplace also employs a verification system, which protects users from fake NFTs and allows developers to add credibility to their projects.
All these advantages of WAX blockchain make it the best and most highly approachable blockchain platform.
Contact Suffescom Solutions if you want to develop such an advantageous blockchain!
AtomicHub is the largest and most professional WAX NFT marketplace. It has rendered over 285 million NFTs, with a 24h trading volume of over 1.3 million WAX. Some of the features of Atomic Hub are Minting tools, Collection rankings, Whitelisting/verification, Creator royalties, Big brand partners, etc.
NeftyBlocks is a viable option for anyone interested in the WAX ecosystem. This is the place to be if you're interested in token rewards and other DeFi features. Its features include various listing options, minting tools, collection pages, trading competition (NeftyQuest), native $NEFTY token, incl. staking, 2% service fee, etc.
The next on the list is NFT Hive. It is a WAX NFT marketplace with almost everything you'd expect from a marketplace. Some of its features are various listing options, minting tools, bulk tools, collection royalties, collection pages, analytics, a 2% service fee, etc.
If you also want a similar WAX NFT marketplace, connect with our Wax NFT marketplace developer to get thorough knowledge about the project and quick cost analysis based on your requirements.
Apart from creating eco-friendly NFTs, Worldwide Asset Exchange (WAX) is advantageous in many aspects compared to other blockchains. Let’s find the difference between the WAX and other blockchains in the table below:
|Worldwide Asset eXchange|| Other Blockchains |
|Low transaction fees||High transaction fees|
|Environment friendly||Not environment-friendly|
|Rich Ecosystem||Poor Ecosystem|
|Low gas Fees||High Gas Fees|
|fast Onboarding||Slow Onboarding|
Wax blockchain does not charge anything from users due to its delegated Proof-of-Stake consensus mechanism. The mechanism eliminates WAX misuse and avoids centralization; transactions occur in comparatively less time.
The incredible feature of WAX (Worldwide Asset eXchange) is that it is carbon neutral and poses no threat to the environment. DO YOU KNOW? WAX is 677 000 times more energy efficient as compared to others. WAX blockchain only requires 0.000223 Twh energy annually.
WAX is a rich ecosystem with virtual assets, collectibles, and artworks from diverse creators. In addition to this, it provides numerous other benefits to the audience.
WAX blockchain employs low gas fees, which attracts users to it. It can carry out 8000 transactions per second and 23M transactions daily. The DPoS phenomenon behind WAX imparts seamless operations.
WAX blockchain enables easy verification of users and transactions on the blockchain. On the AtomicHub marketplace, all non-whitelisted collections can be found through the search field, and unverified collections do not appear.
WAX is the most used Blockchain in the world and it is building a better planet. Give Us A Chance! Exchange Your Ideas With Our Experienced Blockchain Experts.
Suffescom Solutions is a well-renowned Wax blockchain development company with thorough knowledge of mechanisms in the WAX development arena. WAX, explicitly designed for eCommerce, lays the foundation for all businesses to trade and sell cryptocurrency. Wax Blockchain is based on several criteria, including self-service, single sign-on, peer-to-peer trading, and API usage, to name a few.
Talk to our business analyst for your WAX blockchain project!
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