OPSkins which is a leading marketplace for virtual assets recently introduced a new program for virtual asset trading. (WAX) Worldwide Asset eXchange, WAX is a platform that ensures safety while trading virtual assets, WAX will also enable buyers and sellers to trade efficiently with one another.
WAX has also been designed to deal with the most significant problems affecting the virtual assets market; it aims at dealing with fraud and fragmentation by simply using a blockchain that allows users to trade immediately.
How WAX will deal with fragmentation.
WAX intends on dealing with the fragmentation issue by introducing a WAX token; this is a new invention that will make the virtual trading easier and allow buyers and sellers to access the tokens as well as sell their assets with the confidence of a fraud-free platform.
WAX also allows users to symbolize their gaming assets, when the users perform a transaction with a token that is not familiar to other users; they will not be able to trade with other users using the different cryptocurrency. This move will help deal with the issue of Forex which currently greatly affects the virtual asset market. Unlike other methods used previously, WAX is designed to be flexible, fast, efficient and distributed; it also allows buyers and sellers from all over the world to trade.
How WAX will deal with fraud and security issues.
When it comes to matters finances and assets especially on an online platform, one major challenge experienced is insecurity and scams. Eliminating the third parties is one of the strategies that WAX intends on putting in place; when a business has many players, it means that the prices will go up. Third parties strain the buyer and in turn, benefit from the sale without informing the seller. This has posed a significant threat in the virtual asset market, and WAX blockchain has devised a way to reduce the players and ensure the buyer and seller follows through with their agreement.
Malcolm CasSelle who is the president of WAX is confident that this platform will be of great help in transforming virtual assets trade, under his leadership, there is a lot to look out for. Malcolm CasSelle graduated with a bachelor’s degree in computer science and his skills has gone a long way in contributing positively to the change of virtual asset trade.