Or why you should not compare these tokens.
“What is the difference between ENJ and WAX?”
- is probably one of the most asked questions I get.
But truth be told, you can’t quite compare these two, and that’s the reason I held back for such a long time on writing an article on it.
I mean, of course, you can, but you would do neither of them justice.
The primary purpose of ENJ is to back the value of items in the Enjin ecosystem.
So-called NFTs, short for Non-Fungible Tokens, are minted (created) on Ethereum using the ERC-1155 token standard developed by Enjin.
Why it is necessary and how to do it
** WAX closed down the official swap, this guide is no longer viable **
** If you are still holding ERC20 WAX right now there nothing you
** can do but wait. Be aware of scammers offering fake tokenswaps.
** There is a good chance for a another swap in the future.
As the name suggests, during a tokenswap you swap one token for another.
In this article, I will first give you a brief overview of the process and afterward a step by step guide.
So let’s start with why the swap is needed:
Right now the WAX tokens…
What the total supply of the mainnet will be like.
With WAX introducing the Genesis Block Members Program there has been a lot of confusion about how circulating and total supply will increase.
First of all, no, the total supply will not actually be 3.7 billion, but fluctuate instead. To understand the supply, you need to understand how the coin swap works.
The WAX mainnet chain will be created with an initial supply of 3.7 billion; this is what we consider the total supply. BUT, not all of these 3.7 billion will still exist once the token swap concludes at the end of August.
What we know, what we don’t know, what you need to know.
Q1 of 2019 is nearing its end. Thus the public launch of the WAX main net that is scheduled for Q2 is closing in rapidly. Considering all possible options to handle the distribution of the new protocol token, a genesis snapshot seems to be the most viable solution.
First of all, no, we do not have a date yet!
If you want to be the first to know, make sure to follow the WAX twitter account and Telegram announcement channel.
No clue what I’m talking about? Read my ELI5!
And since people keep asking, yes the new token will be distributed on a…
What Transfer Agents do and why Steam banning OPSkins doesn’t matter.
Plain and simple:
Trades on WAX happen peer to peer, but what does this mean?
It means that as far as external observers are concerned, they can not be distinguished from regular trades between users because there is no difference in them.
A trade on WAX involves three users: a seller, a transfer agent, and a buyer.
The transfer agent functions as an escrow and protects both, the buyer and the seller from fraud.
The regular case:
A seller lists an item as for sale on a WAX marketplace. For this item, a contract is created.
As soon as a buyer…
WAX token economics explained.
Parts of this ELI5 may be outdated and are updated as WAX releases new information.
WAX is an e-commerce platform running on its own multi-purpose blockchain, build using the EOSIO technology tailored especially for its needs. It’s not a just a token trading on another blockchain or a dAPP running on Ethereum.
With its launch at the end of June, it is supposed to be fully decentralized, open source and compatible with all EOS DApps.
WAX is targeting the gaming market because it is used to trading and collecting virtual items that are nothing more than digital assets, but WAX…
What is Worldwide Asset eXchange?
WAX, in a nutshell, is a platform for decentralized exchanges. More in depth, a blockchain capable of hosting different marketplaces, effortlessly run by users, as decentralized exchanges. Why decentralized? The lack of security, transparency, and efficiency that centralized exchanges have demonstrated has brought about a strong demand for decentralized exchanges. And these continue to evolve.
How is WAX different from other projects like Etherdelta or IDEX?
Where most other decentralized exchanges, if not all, are expensive, slow and limited to the blockchain upon which they are running, WAX facilitates cross-platform trades with a block time of 500ms at almost no cost.
WAX is an EOS variant that interlinks with other blockchains…
Unlike many assume, WAX is not OPSkins. Nor does it’s future lie in the gaming industry.
And this is a good thing.
WAX stands for ‘Worldwide Asset eXchange’, and it has a chance of becoming one of the crypto projects with the most significant impact on our daily lives so far.
OPSkins, the market leader of a 50 Billion Dollar industry, is the company behind WAX. And they want to bring their whole business on the blockchain. At this point, I feel the need to state the fact that the usual maker fee on every trade is 10% — we…
