We are glad to meet here
Mr. Malcolm CasSelle (t.me/WAX_Malcolm) Stratigic Partner of Wax
Mr. Marty (t.me/Marthi) Community Moderator of Wax
Mr. Kaefer (t.me/kaefergeneral) Community Moderator of Wax
Okay Guys, Let’s start AMA session from my basic question
Question 1:- What are the top 3 highlights for Wax.io in 2020?
Malcolm CasSelle :- That’s a great question!, It’s hard to pick just three, so let me start with one.
- As many of you know who already follow WAX, there is a big partnership announcement that we let people know is coming. It’s with an iconic brand and we are doing a giveaway as part of the announcement. You can sign up here partner.wax.io for that.This partnership will be important because it is bringing real mainstream adoption to the crypto space. We have worked very hard on it for over a year!
- The second big thing for 2020 is our ETH bridge. This will allow Ethereum based assets to trade on WAX. This is very important for our partnership with Animoca. As you know their partnerships include F1, Atari, and of course on of my favorite, Sandbox. We are excited to have that come in the near future. These first two big things coming in 2020 are really bringing users to WAX outside the cryptosphere. That’s very exciting to us and should be for everyone who loves blockchain. These first two big things coming in 2020 are really bringing users to WAX outside the cryptosphere. That’s very exciting to us and should be for everyone who loves blockchain.Not having to use Metamask, Scatter, or have to remember private keys makes all the difference. Now WAX has over 460,000 users and the ease of use factor is a big reason for that.
- Now the third one is foundational to the WAX ecosystem. WAX’s Worker Proposal System (WPS) is a way for developers to earn money when they improve WAX. Improvements include making tools, dapps or fixing bugs. The WPS now has over 71 million WAX in it and is worth millions of dollars. This is a great way for the developers out there to get paid doing what they love to do!
Question 2:- How much of the original raise is left for funding development of WAX? With the price of WAX remaining relatively low are you concerned the portion of tokens left for further development (including the 1% WPS) and partnerships won’t stretch far enough to build what’s needed to win?
Malcolm CasSelle :- The primary goal of WAX, to build an easy to use blockchain protocol for e-commerce, was achieved last year with its mainnet release in June of 2019. Now with Worker Proposal System (WPS) I mentioned above and the very active community of developers, we are seeing a robust pipeline of dapps, tools and partnerships expanding WAX’s reach every month. The primary goal of WAX, to build an easy to use blockchain protocol for e-commerce, was achieved last year with its mainnet release in June of 2019. Now with Worker Proposal System (WPS) I mentioned above and the very active community of developers, we are seeing a robust pipeline of dapps, tools and partnerships expanding WAX’s reach every month. WAX is well funded. And as I mentioned, the WPS is holding over 71 million WAX and worth millions of dollars will act as further incentive for dapp developers.
Question 3:- Will we be able to send our ETH-based NFTs to our WAX Account and put them up for sale on opskins or other marketplaces?
In other words, will the the bridgeservice be up from day one?
Malcolm CasSelle :- There are several groups of developers working on inter blockchain communication (IBC) between WAX and other chains. We view ETH as one of the highest priorities within those efforts. IBC would enable ETH assets to sell on any WAX enabled marketplace. As I mentioned above, this ties into the work Animoca Brands is doing with Ethereum based NFTs. We are excited to make WAX compatible with them. We have not announced a timeline for release yet. We expect at least one of the solutions in development to be live in the near future.
Question 4:- When will tokenomics be made public? Specifically how the pegged currency (I believe it’s called WAXT) will be utilized and how the entire ecosystem will function under the hood. Do you have a timeline for releasing these kinds of things?
Malcolm CasSelle :- Thank you for that question. There are active plans to expand the current tokenomics but we do not have a timeline yet for any announcements.
Question 5:- With the recent CPU issues that EOS DAPPS has encountered,its very clear that @WAX_io is the superior DApp platform.
Now, Do you have other platform/s to conquer aside from GAMING?
in the near future?
Malcolm CasSelle :- We agree that WAX has a lot to offer and hence the steady beat of new dapps coming to our platform. If you follow our Twitter (t.me/wax_io) you will see one announcement after another with some very talented developers. With vIRL, WAX already made first strides to conquer ecommerce beyond gaming. While videogame NFTs will be an important market WAX is in no way limited to it. We envision a ‘Ready Player One’ like world where you can buy all sorts of stuff, be it physical or digital, on WAX marketplaces. With regards to the next horizon of opportunity, NFTs are an enormous category of ecommerce. Let’s consider the different types…
Videogame NFTs are still in their infancy compared to the size of the traditional video game market and the total trading volume for blockchain NFTs produced by smaller indie studios today. Major game publishers producing games like Fortnite sell over $100 billion annually in digital goods (non blockchain) and roughly 10% of those items are tradable (CSGO, PUBG, etc.). Those items produce a $50+ billion secondary market. Today NFTs in blockchain enabled games come from indie game publishers and the total market is tens of millions of dollars in primary sales. When the Prospectors Dapp game reached 16,000 users on WAX, we all got a glimpse of the excitement and possibilities. And we are still in very early days for what’s to come. Over $100M was invested in 2019 to make more blockchain based games with NFTs so we expect to see exciting things in 2020 from the most well funded groups like Mythical Games, Gods Unchained, and Dapper Labs. The next category for NFTs is collectibles. We see two categories that are interesting. One type is purely digital like you saw with our Immortals giveaway and another type is tokenized physical items. We pioneered tokenized physical items and saw sneakers become very popular on WAX with vIRL. We expect to see growth in collectibles because digital goods on the blockchain are well suited for the problems with collecting. Collectors always want to know is my item authentic? Is it rare? Can I trade it with someone else easily?
WAX was designed to make it easy for collectors to answer those questions and conduct e-commerce.
Question 6:- Explain the privacy and security tools of wax and AIKON and how to manage GDPR and CCPA compliance?
Malcolm CasSelle :- Ok this one is a bit more technical. But I am happy to answer it.
AIKON operates ORE ID (Open Rights Exchange) and is built on an EOSIO “sister chain.” ORE ID allows for enterprise developers to manage user identities for blockchain accounts, similar to the way WAX Cloud Wallet does.
GDPR privacy and security compliance requires developers to identify and document the data they hold for users, make sure users consent to the data stored, provide mechanisms for protecting that data, and have procedures for handling data breaches.
CCPA requires mapping of consumer data usage, establishing privacy policies and disclosures, providing a policy for handling consumer requests, and protecting data.
ORE ID was designed with these requirements in mind so that developers who use ORE ID and can also follow GDPR and CCPA requirements. I hope that answers your question!
Question 7:- Do you have a timeframe planned for releasing information on guild requirements?
Marty :- All requirements to become a WAX Guild (a block producer on the WAX Blockchain) can be found here: https://go.wax.io/WAX-Guilds
Question 8:- WAX Token is currently Relies on Ethereum platform! But, as we know Ethereum Blockchain currently have many scalability issues! Then, Whats the main reason behind choosing Ethereum, not other blockchains?
Malcolm CasSelle :- Hi Minh, good question. We used Ethereum for our ERC-20 which was always intended as a placeholder for our mainnet token, WAXP. WAX’s mainnet went live in Jun 2019 and is a delegated proof of stake (DPOS) chain based on EOSIO. Our block producers (called guilds) operate the chain and the community governs itself choosing block producers by scoring and ranking them. Because WAX is DPOS we don’t have any scalability issues. Transactions take 1/2 of a second and they are free. Currently WAX is in the top 20 of all chains globally for transactions and is often in top 10 without any scalability issues.
Question 9:- this is maybe hard question,
What is the advantage Feature that Wax platform have and enjin don’t especially in trade virtual item?
Basicly what is your killer feature?
Kaefer :- 1. The first obvious thing to name would be ‘it’s own blockchain’.
Enjin was built as a second layer solution to Ethereum. Though I don’t think they delivered on that yet.
- Enjin is focused on Ethereum and with it on adoption mostly inside the existing Crypto ecosystem relying on the user to know and be able to interact with blockchain assets.
- WAX is focused on mass adoption by decreasing the hurdle for end users to adopt blockchain solutions. The WAX Cloud Wallet allows Websites and dApps to implement WAX based blockchain technology without the need for end users to know anything about crypto.
So the killer feature for WAX is basically free transactions and easy user onboarding for the masses.
Question 10:- Are there any new partnerships and interesting upcoming use-cases?
Marty :- All the time! We recently announced that we partnered up with a iconic global company. We’ll soon say who it is, stay tuned and sign up at partner.wax.io to get an email notification 👍🏼
We believe this will be one of the first to ever introduce real mass market adoption 🚀
Question 11:- As dapps developers, we know every Dapps platform in race to build quality to gain mass user more Connection to many project, how do you see wax dapp future in this situation?
Malcolm CasSelle :- Hi Dalmasca, thanks for the question. The issue with great dapps is mostly how to onboard users with very little “friction.” To make it easy to onboard, we developed WAX Cloud Wallet. Users can login with Facebook, Twitter, Twitch, etc. or just an email and password. Our strategy is working because dapps coming to WAX see users growing very fast.
Question 12:- What are the benefits of users participating in Staking and Voting? Is that the way users contribute to the WAX ecosystem?
Marty :- The benefits of staking? More WAX in your wallet and a healthy growth of the WAX Blockchain! 😁 We made it super easy for every to stake, vote and claim. You don’t have to be a tech guy to participate in the our staking program to earn WAX Staking Rewards.
Want to earn more WAX while you’re asleep? Try stake.wax.io (works on mobile too)
Question 13:- What is the crowd sale structure of WAX(WAXP) tokens and Please tell about all Technical specifications of WAX(WAXP) and also mention technology mechanism of WAX(WAXP)?
Malcolm CasSelle :- Hi Lakshya, WAXP is the mainnet token that is available many places if you need it to build dapps. The mainnet is build on EOSIO software and is a delegated proof of stake (DPOS) chain as I mentioned earlier. Please do read more about the technical specs here: https://wax.io/blog/the-wax-protocol-white-paper-is-now-live
Question 14:- There are three common core issues in technology today: scalability, security and interoperability, speed and privacy. So, how will WAX solve these problems?
Kaefer :- WAX at it’s core is based on eosio. Delegated proof of stake is as near as you can get in terms of speed at this point without losing the advantage of distributed ledger technology.
WAX is designed to be blockchain agnostic and one of it’s focuses is inter blockchain communication like the upcoming ETH bridge. This will guarantee interoperability with other chains that host NFTs.
At the same time IBC serves as means of scalability offering horizontal scaling through sidechains.
Question 15:- what is the vision and mission of wax do you have other unique plans?
Malcolm CasSelle :- Hi obenkz, the vision for WAX is be the most used protocol blockchain to power ecommerce globally. We have started with NFTs (non fungible tokens) from games but we don’t see ecommerce limited to just that. It can include consumer products and much more. You can read about this in more detail in our whitepaper. We go into great detail about the vision and mission of WAX. https://github.com/worldwide-asset-exchange/whitepaper
Question 16:- Could you please explain what is 0xGames? What’s role of WAX Blockchain ecosystem in this product?
Marty :- Hey Surah, 0xGames is a big publisher for dApps on the Ethereum Blockchain. We recently partnered up with them, they already published 2 of their most popular dApps on WAX!
Question 17:- Wax.io has developed and pioneered dozens of innovative technologies, can you share your top 3 innovative technologies that appeal to the global world? 🙏
Malcolm CasSelle :- Hi Mario, WAX’s founders developed Tether which you can understand is the most traded asset in all of blockchain. It’s several trillion dollars worth annually. WAX has continued innovation with WAX Cloud Wallet making it easy for developers to use blockchain technologies and easy for users to login without having to remember complicated private keys like on Metamask or Scatter. Another important innovation includes tokenizing physical products (like sneakers) as we did with vIRL. WAX also released WAX ExpressTrade which enables digital goods to transfer between users seamlessly. This software enabled hundreds of millions of dollars in trades.
Question 18:- I want to know how the progress of the blockchain gaming that you have, what you are running at the moment, what are the advances that you have made, and what problems are you going to break in the world of blockchain gaming in the future?
Malcolm CasSelle :- Hi Rsty, the greatest advance at the moment is the ability login easily with WAX Cloud Wallet. This has made onboarding new users easily and allowed Prospectors to reach 16,000 users. That is an incredible record! Attracting and onboarding new users to a game is by far the most important factor for success for a great game. That is why we have attracted partnerships with my great video game companies.
Question 19:- What is meant by WAX Cloud wallet? Can you explain in detail about Cloud wallet & how much is it secure than normal mobile wallets?
What’s special in WAX Cloud wallet which makes itself different than other wallets?
Marty :- WAX Cloud Wallet is all you need to start playing video games on a blockchain in just a few clicks. Let’s be honest, the regular gamer doesn’t want to take care of private keys, weird phrases to recover a wallet and all the technical stuff that currently comes with owning a cryptowallet.
WAX Cloud Wallet manages all of this, makes it super easy to sign up through your favorite social platform and get started in a matter of seconds, everyone can do it. You should try Prospectors on WAX, they set a new “daily active users” record because of WAX Cloud Wallet 👍🏼
Question 20:- If we look about security, users are more conscious about this. So can you tell us about that how safe is wax.io ? Does wax.io make users safe the risk of losing money and personal information?
Kaefer :- WAX being based on eosio features an account system opposed to the regular address system people are used to with chains like Bitcoin or Ethereum.
This system allows for users to implement multi signature solutions more easily.
With WAX it is possible for users to split permissions on different keys.
Allowing you to have seperate keys for daily operations like using dapps and for example the spending of funds.
WAX itself does not store any user data nor does account creation require any form of KYC.
The staking mechanism not only allows users to earn on their holdings but also secures them through unstake timers. If a key gets compromised staked funds can not be stolen right away but need to be unstaked first.
Given the users used proper key management he can prevent the theft within this window by revoking the compromised key.
Question 21:- How does WAX rate the importance of the user community? What was WAX ‘s plan to build the user community?
Malcolm CasSelle :- Hi TL, we love our community and have invested a lot of time and energy into sharing information with them as well as supporting them with documentation (developer.wax.io and blog.wax.io) and the Worker Proposal System which contains over 71 million WAX worth millions of dollars.
Question 22:- You just said I can login with Facebook and the likes. But there are rumours that these centralised companies sell customers data. Why do you still proceed to use them, and how do you ensure confidentiality??
Kaefer :- Those platforms only serve as single sign on solution. There is no further data exchange between these sites beyond what is needed to provide a log in.
The only thing the other party gets to know is, that the users is using our services.
Question 23:- Can anyone expert or not with WAX Testnet build on the WAX Blockchain? What advantages do WAX Guild and dApps offer developers within Testnet?
What advantages do NFTs in the game provide for players to customize their game experience and for their collections? Can NFTs be purchased with WAX tokens?
Marty :- Developers can benefit from using the WAX Testnet in a few ways:
- Free testing environment: The WAX Testnet provides devs with free test WAX Tokens, which means you can see how your dApp will work on WAX without having to pay for resources
- Migration made easy: If you have a dApp running on another blockchain, you can test the migration using the WAX Testnet before deploying on the WAX Blockchain mainnet
- Experiment with WAX services (coming soon): Integrate and test WAX features such as the WAX Cloud Wallet, WAX Decentralized Random Number Generator, and Simple Assets NFT smart contracts
Question 24:- DASH also offer same thing as WAX, and I’m presently using DASH. How will you convince me to change to WAX?? What more benefits will I derive if I change to WAX??
Malcolm CasSelle :- Hi EllKey, DASH is digital cash designed as a general payments platform. WAX is solving an entirely different problem. We enable ecommerce for digital goods. This means that developers can build marketplaces easily or create items for use in video games that can be traded (NFTs). In fact someone building a WAX marketplace could use DASH as a payment mechanism on WAX. They are not incompatible at all. We believe the market for ecommerce is exciting and massive with sustainable margins. The payment business is very different from ecommerce so we are very happy for other companies to support the pain points customers have around that.
Question 25:- What is WAX? is it An Exchange, A Wallet, A Blockchain or all that combined and how does it work
What’s a cloud wallet and how do they differ from conventional wallets?
Kaefer :- WAX is a blockchain focused on e-commerce and NFTs featuring a microservice layer that allows developers to easily implements features without reinventing the wheel over and over again.
The WAX Cloud Wallet is a solution to onboard no-coiners without educating them on blockchain in depth.
feel free to check out developer.wax.io for more information on this.
Question 26:- What payment methods and cryptocurrencies are presently accepted on WAX??
Malcolm CasSelle :- Marketplace operators can use any payment method they want including cryptocurrencies, credit cards, bank wire, ACH, gift cards, etc.
Question 27:- Is EOS blockchain better than Ethereum for WAX?
Malcolm CasSelle :- We don’t use Ethereum. We believe Ethereum has a lot of limitations on scalability, cost and complexity. We used EOSIO to build our own blockchain and we are very happy with its performance and results to date.
Question 28:- DApps are always faced with the issues of acquiring customers as a result of complex interfaces and difficulty in creating truly provably fair random functions. How does WAX takes care of these issues so as to make blockchain easy for dApps?
Kaefer :- The WAX Cloud Wallet allows developers to implement easy user onboarding without any complicated interfaces.
Check out the WAX On chain random number generator for provably fair randomness:
Website :- Wax.io
Twitter :- https://twitter.com/wax_io
Telegram :- t.me/wax_io
Coinmarketcap :- https://coinmarketcap.com/currencies/wax/