The WAX Blockchain

By Galactic 123 | galactic123now | 27 Feb 2025

What is WAX?

WAX stands for Worldwide Asset eXchange and it is a blockchain that resulted from an EOS fork. WAX is great for the creation, distribution and hodling of NFTs (Non Fungible Tokens). The main cryptocurrency in this blockchain is called WAX, and in exchanges around the web, such as Binance, it shows up under the ticker WAXP. Like many other blockchains, WAX also has support for tokens too. You can learn more about WAX and stay up to date in the official WAX website, wax.io

WAX Logo

Wallet Software

There are several wallets that you can use to interact with the WAX blockchain.

Web wallet: Probably the most popular one is MyCloudWallet.Com , which is a web wallet. All you need to use it is to create an username along with a valid email address. There might be a small creation fee, for which you will have several options. You may also pay the fee with WAX, so you should be able to do this from Binance (just make sure to input the memo, and make sure outgoing amount matches the requested amount!). The web wallet is more than capable of interacting with tokens, NFTs, and smart contracts!

Anchor: If you prefer a more traditional wallet, you can get Anchor, which can also be used for EOS and other similar blockchains. Once you have Anchor installed, you would need to buy an address from here. It is a bit harder to setup than the web wallet mentioned above, but it is also the most powerful wallet, supporting tokens, NFTs, smart contracts,a ccess to your own private keys, and more! It is also the tool of choice for WAX developers because of this.

Wombat: If you don't want to try either one of the wallets mentioned, a popular one is Wombat wallet.

Gas Fees

WAX has no gas fees like Ethereum or Base do. Instead, you stake WAX (you earn more WAX this way, by the way!) to increase three resources: CPU, NET, and RAM. CPU is for operations such as sending tokens and interacting with smart contracts. NET works in support of CPU. RAM determines how many NFTs you can store in your wallet. You will primarily want to increase CPU and RAM, but dont forget to allocate some to NET too. CPU and NET deplete with use, but will slowly refill automatically also. RAM can only be recovered either by buying some more RAM or burning some NFTs. All in all, it is much less expensive than typical gas fees.

Ecosystem

There are some well known websites around the WAX blockchain that make it truly shine.

WaxBlock: The main blockchain explorer for WAX. Its address is https://waxblock.io/

Alcor: Alcor is an exchange where you can trade WAX and WAX tokens. You can access it here: https://alcor.exchange/

AtomicHub: AtomicHub is one of the WAX marketplaces for NFTs. It also allows you to create your own NFTs and NFT collections too, using a relatively simple and user friendly system. Besides WAX, AtomicHub also supports some other chains too, such as EOS and Polygon. You can access Ato micHub here: https://atomichub.io/

NeftyBlocks: This is another, very popular marketplace for WAX NFTs. NeftyBlocks provide some cool features such as setting up drops and blends, and on top of WAX, it also supports the more popular tokens in the WAX chain too, such as TLM and WUF. You can get to NeftyBlocks here: https://neftyblocks.com/

NFTHive: A specialized marketplace where you can setup drops, create complex blends, PFP NFTs, and a lot more. Find it here: https://nfthive.io/

WaxDao: The list of WAX websites would not be complete without the mention of WaxDao. WaxDao is best described as a series of ready made tools and utilities for any and every WAX project. With WaxDao, you can create NFT staking pools, token staking pools, and specify what kind of rewards to give out. With WaxDao, and some experience, you can also create your own token. Or if you need a specific DAO, they have that too. And more. Check it out, here: https://waxdao.io/

Projects

Besides the main websites mentioned above, there are multitude of projects and games in the WAX blockchain, such as Alien Worlds, Wombat Dungeon, World of Smelly Koala and Galactic 123, as well as specialty collections such as The Chronaverse.