What is WAX (WAXP)- What do you need to know

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The Worldwide Asset eXchange (WAX) is a purpose-built blockchain and protocol token that is designed to make e-commerce transactions quicker, easy-to-user, and more secure for every party that is involved. Through WAX, the development of secured and high-performance dApps is made easy.

The striking feature of WAX is that it allows the trading of Non-Fungible Tokens NFTs on its platform. This can be done through the WAX Random Number Generator (WAX RNG). The WAX RNG is a native blockchain service of WAX that is programmed to provide a service that generates fair random numbers for single users. It is based on the Signidice algorithm. The workflow is amazing through WAX RNG and the RSA verification is amazingly quick. Through the WAX RNG, a smart contract can also be constructed.

WAX has also come up with a novel idea of vIRL NFTs. These are NFTs that you can own in real life. It lets you own real stuff without dealing with delivery and shipping. These vIRL NFTs don’t move until the owner allows them to move it. Since possession doesn’t change, one can sell the NFT if one doesn’t want it. WAX calls this V-commerce. If one doesn’t want to sell it, they can redeem it and attain possession of the object for themselves.

Price Movement – WAX (WAXP)

At the time of when this article is being written, the current value of WAXP, the utility token of WAX, is $0.7364. This is a 20% increase over the past twenty-four hours. The current trading volume of the coin is $1.644,043,187 (an increase of 330% over the past twenty-four hours) with a fully diluted market cap of $2,838,554,265. Coinmarketcap has ranked the coin at 91. The last month has been quite good for the coin as the monthly low was $0.27 and the monthly high was $0.8969; this was before the market correction of Bitcoin.

The prospects of the coin look positive and it has been displaying positive growth over the past month even though the NFT market is very uncertain at the moment right now. Digital Coin Price estimates that WAXP by the end of 2021 will pass the dollar mark and by 2026, the coin will have a value of $2.57. Wallet Investor has almost the same forecast with estimating the WAXP will reach $1.122 by the end of the year and $2.411 by 5 years.