NFTs
What is WAXP coin? CERA Price Reviews
WAX (Worldwide Asset eXchange) is an eco-friendly blockchain built specifically for e-commerce, dApps, NFTs, games, virtual worlds, and unique collectibles. WAXP is the native token of this ecosystem, allowing users to collect NFTs and participate in the WAX ecosystem. As Cryptokoin.comIn this article we will look at what WAXP Coin is, how it works, how it differs from other blockchains and price predictions.
What is WAXP coin and how does it work?
WAX is a blockchain optimized for digital asset trading and management. Users can create, sell and trade NFTs through this platform. WAX uses the Delegated Proof of Stake (DPoS) consensus mechanism, which allows token holders to designate network validators by choosing delegates. Thus, transaction confirmations are carried out quickly and in an energy-efficient manner. This mechanism consumes much less energy compared to Bitcoin’s Proof of Work (PoW) system and is environmentally friendly.
WAX also combines physical and digital assets introducing vIRL (virtual in real life) NFTs, which are digital representations of physical collectibles. This creates items that can change hands multiple times digitally, but can only be claimed once physically, reducing environmental waste.
Uses of the WAXP token
The WAXP token is used to facilitate a series of transactions on WAX ecosystem. This token is used to pay transaction fees on the network, contribute to network security through staking, and participate in governance decisions. Users can stake by locking their tokens for a set period of time and, in the process, earn rewards for contributing to network security.
Furthermore, WAXP token holders can have a say in the future of the network. They can choose block producers, validators and vote on network decisions Updates, protocol changes and community initiatives. This democratic approach reinforces the decentralized nature of the platform and encourages active user participation.
The difference between WAX and other blockchains
Unlike other blockchains, WAX is focused on NFT and digital asset trading. This focus allows WAX to offer tools and features optimized for specific use cases, such as NFTs and blockchain games. WAX’s vIRL NFTs facilitate the integration of digital assets with the real worldoffering more advanced functionalities and expanding v-commerce possibilities.
Furthermore, the energy efficiency of WAX is characterized by its environmentally friendly nature. WAX consumes much less energy compared to other major blockchains such as Ethereum and Bitcoin. This makes WAX a sustainable option for NFT and digital asset trading. Founded by William E. Quigley and Jonathan Yantis, WAX has a strong technical infrastructure and a large user base.
WAXP Coin Price Prediction
The current price of WAXP coin is $0.03783. With its strengths in energy efficiency and sustainability, WAX is positioned as an important player in the NFT and digital asset market. Given the market dynamics and WAX’s growth potential, WAXP is expected to appreciate in value in the future. The growth of the NFT market and the growing popularity of blockchain games could increase demand for the WAX ecosystem.
According to analyst estimates, the price of WAXP could vary between $0.05 and $0.07 in the next year. In the long term, with the proliferation of NFTs and blockchain games, WAXP has the potential to reach the $0.1 level. However, due to the volatile nature of the cryptocurrency market, it is important for investors to be cautious and do their own research.
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