OPSkins is among the companies in the world reaping from the rapidly advancing technology. The firm is a global leader in in-game virtual assets. However, the company is not planning to stop its growth into the unchartered territories. It has set its sight on developing a decentralized marketplace for virtual assets. OPSkins currently leads in the centralized market for virtual assets which has its inherent limitations. The worldwide by users who make cross-border micro-payments have necessitated the need for the decentralized protocol.
OpSkins created WAX a blockchain platform for virtual asset trading. WAX stands for Worldwide Asset eXchange. Its development is based on blockchain and decentralized smart contracts that enable users to trade virtual assets. At its most basic premise, WAX will solve two significant problems- fragmentation and fraud. The simple blockchain-enabled widget will thus allow users to buy and sell without clicking off their game. WAX has pioneered in the application of blockchains in assisting users tokenizes and operate in a fraud-proof platform.
Users transacting on platforms that do not use common tokens tend to engage intermediaries in facilitating trade. WAX Token will be a common currency that will help eliminate Forex challenges in virtual asset markets. The blockchain technology is powered by Delegated Proof of Stake (DPOS) consensus algorithm. DPOS is a fast, efficient, decentralized, and flexible. The architecture is entirely democratic and decentralized as Guilds are ranked based on the number of votes they receive.
The president of Worldwide Asset eXchange, Malcolm CasSelle is confident that the platform will propel cryptocurrency into the mainstream. He is also the Chief information officer of OPSkins. CasSelle has held prominent positions in other corporates including New Ventures at tronc, Inc. and SeaChange International.
Mr.Malcolm CasSelle holds bachelors and masters in Computer Science from Massachusetts Institute of Technology and Stanford University respectively. He has been instrumental developing start-ups such as MediaPass, Xfire and Groupon’s joint venture. He co-founded NetNoir, a production website focused on Afrocentric culture, in 1995. It was among the first of its kind. CasSele is an active investor in Bitcoin-related companies and others such as Facebook and Zynga.