#### What is WAX? WAX (WAXP) is a purpose-built [blockchain](https://www.coinbase.com/learn/crypto-basics/what-is-a-blockchain), launched in 2017, that aims to streamline e-commerce transactions, making them faster, simpler, and safer for all parties involved. The WAX blockchain utilizes a delegated proof-of-[stake](https://www.coinbase.com/learn/crypto-basics/what-is-staking) ([DPoS](https://www.coinbase.com/learn/crypto-basics/what-is-proof-of-work-or-proof-of-stake)) [consensus mechanism](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/consensus-mechanism-protocol) and is fully compatible with EOS. WAX has developed a suite of blockchain-based tools upon which [decentralized application](https://help.coinbase.com/en/wallet/other-topics/what-is-a-dapp) ([DApp](https://www.coinbase.com/learn/wallet/guide-to-dapps)) marketplaces and non-fungible [tokens](https://www.coinbase.com/learn/crypto-basics/what-is-a-token) can be built. Services such as WAX Cloud [Wallet](https://www.coinbase.com/learn/crypto-basics/what-is-a-crypto-wallet), SSO, and OAUTH are designed to support e-commerce operations. The WAX blockchain architecture supports 500-millisecond block time and zero-fee transactions for customers, and incentivizes participation in the selection of block producers and improvement proposals through voting rewards. #### How does WAX work? WAX operates using a WAXP-to-[Ethereum](https://www.coinbase.com/learn/crypto-basics/what-is-ethereum) (ETH) bridge that allows WAXP token holders to convert their tokens into WAXE, an Ethereum-based [ERC20](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/what-is-erc20) utility token. To participate in WAX [tokenomics](https://www.coinbase.com/learn/wallet/tokenomics-101), users need to burn their WAXP tokens to get WAXE through the Ethereum bridge. They then stake the WAXE tokens on the Ethereum distribution contract. WAXG, an Ethereum-based ERC-20 governance token, is [distributed](https://help.coinbase.com/en/coinbase/getting-started/crypto-education/glossary/distributed) to WAXE stakers based on a set timetable and is proportionate to the percentage of the WAX Economic Activity pool. WAXG token holders can govern the allocation and distribution of economic value on the platform. #### What are the potential use cases for WAX? WAX aims to optimize the blockchain’s utility specifically for use in e-commerce. It provides a suite of blockchain-based tools that can be used to build decentralized application (DApp) marketplaces and non-fungible tokens. Services such as WAX Cloud Wallet, SSO, and OAUTH are designed to support e-commerce operations. WAX also features a WAXP-to-Ethereum (ETH) bridge that allows WAXP token holders to convert their tokens into WAXE, an Ethereum-based ERC20 utility token. This functionality opens up a range of potential use cases in the realm of e-commerce and beyond. #### What is the history of WAX? WAX was co-founded by William Quigley and Jonathan Yantis. Quigley, a Harvard MBA graduate, worked at Disney before becoming a venture capitalist and eventually the managing director at Idealab. He also serves as the managing director at Magnetic. Yantis, on the other hand, serves as the chief operating officer at WAX and at OPSkins. Since its launch in 2017, WAX has been striving to make e-commerce transactions faster, simpler, and safer for all parties involved. It has developed a suite of blockchain-based tools and services to support e-commerce operations and incentivize participation in the selection of block producers and improvement proposals.