Cryptocurrency? Virtual assets? Bitcoin? What are they really? These forms of currency are all foreign and imaginary to those who are not online gamers and do not know much about the virtual world. However, there are millions of dollars’ worth of virtual assets traded word wide online every day. Just like in the real world, these virtual assets can come in many different values and variations. One of the leading market places for online assets is a company called OPSkins. However, given the limitations of OPSkins, its creators are now launching a new virtual asset trading service known as WAX.
The WAX or Worldwide Asset eXchange process is designed to be more secure, help reduce fraud associated with virtual currently. WAX incorporates the utilization of Transfer Agents, or users tasked with the responsibility of converting or assigning virtual token status to virtual property. In addition, in order to keep the Transfer Agents honest they are governed by a supervisory committee known as Guilds. Wax uses a standard rating system and a Delegated Proof of Stake algorithm to help with the regulatory oversite of the value placed on assets. It is believed that the use of this system would be more secure and reduce the ability of hackers to steal virtual property because as virtual items are traded, they would remain tied to their WAX tokens on the blockchain, and follow his Twitter.
Growing up in Allentown, Pennsylvania, entrepreneur and President of WAX, Malcolm CasSelle, has a long history of involvement with the digital world. He is one of the key players of the bitcoin industry and has been involved in many, many different start-up companies and digital platforms. Not only has he helped raise billions of dollars for various start-ups but, he has also invested time and played key roles such as marketing director, finance, PR, production and distribution. CasSelle has held positions with companies such as NetNoir, PCCW, Global Cast Networks, MediaPass, Groupon Gaopeng Tencent China, and many others. Holding degrees in Computer Science from MIT and Stanford University, it is obvious CasSelle knew early on he was going to be an integral part of the digital world!
While the intricate details of digital currency are, to say the least, confusing to most, CasSelle is intrigued by and deeply involved in this world. His involvement with WAX is further proof that it is his belief that world of online currency is a part of the future that is still being written and he intends to be a part of that future, and more information click here.
Other Reference: https://medium.com/@malcolm_casselle