DappRadar starts tracking dapps on the WAX blockchain
Adding blockchain #11
Further building its reputation as the most trusted source for dapp data, DappRadar has added support for dapps running on the WAX Platform.
The WAX (World Asset eXchange) Protocol is a Delegated Proof of Stake blockchain based on the EOS.IO SDK, which is designed to combine the benefits of decentralized infrastructure with the usability of traditional web services.
Secured by block producers, which it labels Guilds, the WAX blockchain produces a block precisely every 0.5 seconds, with each Guild is authorized to produce a block at a time.
If a block does not get produced at the scheduled time, the block for that time slot gets skipped. The transactions remain in the memory pool waiting for the next guild to include them.
WAX claims this consensus model gives it the potential to be one of the fastest, highest-throughput blockchains.
Easy for users, easy for developers
Created by the team behind the OPSkins game item trading platform, WAX’s success to-date has come from first-party services and marketplaces such as VGO and vIRL, which it claims have generated $400 million in trading volumes.
VGO is a skins trading platform, while vIRL is a service that allows users to trade certified real-world items such as sneakers using WAX blockchain.
WAX supports non-fungible tokens using the Simple Assets open-source standard. Integration with other NFT standards such as dGoods on EOS, and ERC721 on Ethereum is also planned as maximizing market liquidity is an essential value proposition of the WAX Protocol.
Adding dapps to the platform is the next step in WAX’s roadmap, something it supports through its WAX Hive self-service developer portal. As well as tutorials, code samples, and interactive documentation, this also offers a suite of microservices so developers can get up-and-running as quickly as possible.
Of course, the key challenge of the blockchain dapp ecosystem hasn’t been creating dapps but onboarding users, and in that area, WAX also believes it has a solution.
Its Cloud Wallet includes a number of features that lower the barriers to adoption, including free account creation using existing social accounts, automatic token staking, optional private keys management, and simplified developer integration.
“Most crypto wallets are still way too difficult for a mainstream audience,” says WAX co-founder William Quigley.
“The WAX Cloud Wallet is part of our continuing effort to make blockchain easy for everyone. We’ve made it as easy to use as logging into your Amazon account.
“You can create a blockchain account in two clicks. You don’t have to download MetaMask, or some other crypto wallet to use a WAX dapp. And the WAX Cloud Wallet works on mobile just as easily as it does on your desktop.”
One real-world example of WAX can be found through the popular dapp game Prospectors. Prospectors launched on WAX last week and quickly amassed over 5,500 daily active wallets.
For more information about the WAX protocol, you can visit the website.
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