On Monday, October 29th, the Worldwide Asset Exchange (WAX) announced two major updates to spur future progress. One is the WAX Explorer and the other is the beta WAX Blockchain.
Without wasting any time, let’s proceed to understand what these two announcements bring to the crypto-table.
Features of the WAX Explorer
The WAX Explorer presents some unique details and activities taking place on the beta WAX Blockchain.
- The WAX Explorer keeps a record of every transaction occurring on the beta WAX Blockchain.
- One can view transaction hashes for each transfer event on beta WAX Blockchain. Similarly, one can view transaction hashes which generate the items on the beta WAX Blockchain.
- Users can quickly search their items on the “All Activities” page as well as using the “Find My Items” option.
- WAX Explorer users get to see the entire visual representation of all items traded. Furthermore, they can also drill down the details of all transactions to check Block Details, Genesis Transaction Details, and Ownership Details.
Currently, the WAX Explorer is sailing through the MVP (minimum viable product) phase. The WAX community will also share many features in the coming weeks and months.
The Beta WAX Blockchain Platform is Now Live
The beta blockchain is now live and is currently processing millions of transactions at an average of 7,200 blocks per hour. Earlier this year, the WAX community decided that the WAX Blockchain will be a variant of the EOS blockchain.
Although EOS is one of the most popular blockchain platforms currently, the WAX Blockchain version hosts some additional features. This includes a voting mechanism for dispute resolutions, Guilds, and others.
WAX is currently building a marketplace to satisfy the “transaction pressures of a high-volume e-commerce system.” The WAX Blockchain holds extremely high standards for some key areas of trust, speed, security, and reliability. Hence, in order to satisfy all the criteria, the WAX community has chosen DPoS as its consensus algorithm.
Recently, the EOS blockchain network is undergoing some issues in the area of governance. The WAX community is currently analyzing this situation and has decided to further delay the launch of the public WAX blockchain.
“We have realized since the launch of the beta WAX Blockchain that based on our findings, EOS’s governance model isn’t yet in a state that we’re comfortable launching based on,” said the WAX community in an official announcement.
Risk Disclosure
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
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