Note: The original text is from DappRadar, written by Robert Hoogendoorn!
WAX (short for Worldwide Asset Exchange) is committed to introducing and developing a range of features aimed at optimizing user experience and enhancing the scalability of the core network. To drive growth, this blockchain is actively developing sidechain technology.
As one of the most active blockchain networks, WAX has the highest DApp transaction volume, with processing capabilities second only to Solana, handling 40 to 50 million transactions weekly. Currently, WAX has over 160,000 active wallets daily and can process over 5.8 million DApp transactions. With Alien Words, WAX has become one of the hottest game DApps on the market and continues to innovate and develop new features. Meanwhile, WUFFI is also making waves in the market, attracting numerous memecoin enthusiasts.
Last month, WAX CTO Lukas Sliwka shared the latest developments of WAX on X Spaces, discussing major updates, insights, and future plans. By introducing sidechain technology, applications can run in isolated environments, alleviating the burden on the core network.
Additionally, the cloud wallet will simplify the process of creating and managing user accounts, reducing costs. The ultimate goal of the cloud wallet is to eliminate all barriers faced by new users. At the same time, WAX plans to add optional EVM support within the sidechain, enabling the WAX community to interact with Ethereum-based DApps.
To meet demand, expand sidechains
WAX is currently testing sidechains on its test network through cloud wallets. However, over time, this feature will gradually be introduced to the WAX mainnet. Sidechains will enable WAX to achieve horizontal scalability, allowing more applications to run simultaneously without putting pressure on the core chain.
Lukas believes this development is "crucial." Deploying applications on sidechains does not affect the speed of the WAX mainnet, which is vital for handling a large number of DApp transactions on WAX. For example, Alien Words sees over 300,000 wallets interacting with the DApp hundreds of times each week. Meanwhile, Thrive on Mars averages 46 transactions per wallet per week.
With sidechains, developers can even build dedicated application chains that are more customized and efficient for specific use cases. —Lukas Sliwka, CTO of WAX
Optimize user experience of the cloud wallet
WAX is striving to make the cloud wallet more user-friendly and powerful. Creating a wallet will not only be convenient and seamless, but the cloud wallet will also add more features. For example, the cross-chain bridge to transfer $WUF from WAX to TON. The team is also working to make this bridge applicable for NFTs, allowing users to transfer assets between WAX, Solana, Base, and eventually TON. More importantly, the cloud wallet will expand to mobile devices, making it easier to sign transactions on mobile DApps.
In online gaming, zombie activity has always been an issue. WAX aims to tackle this challenge with AI-driven tools. The cloud wallet uses AI to analyze wallets and detect suspicious accounts. Game developers can utilize this "Bot Score" to filter out zombie accounts, providing a fair gaming experience for every player.
Preparing for the next cryptocurrency boom
Sliwka indicated that the current popular trends compared to the last bull market are memecoins, artificial intelligence, and staking projects. To meet the community's needs, WAX plans to undertake the following initiatives:
Starting with $WUF, supporting memecoin on WAX;
Encouraging developers to apply artificial intelligence in applications;
Connecting WAX with more blockchain ecosystems.
WAX enables users to interact with cross-chain assets, enhancing its utility. It simplifies the process of bringing liquidity and assets from other networks into the WAX ecosystem. Sliwka noted that data shows bridging has not led to user loss but rather attracted more people to join the WAX community.
The integration with TON is one example. Through the WAX-TON cross-chain bridge, users can seamlessly transfer assets between WAX and TON. Now, a large number of Web3-savvy users can easily access WAX, opening the door to a whole new audience.
Conclusion
While WAX is still focused on the NFT and gaming sectors, the ecosystem is expanding into the memecoin and artificial intelligence fields. By combining broader areas, higher scalability, and better user experiences, WAX will lay a solid foundation for greater success in the future.
*Note: This article is for informational purposes only and does not constitute investment advice!