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clean & carbon neutral blockchain.

WAX is vastly more energy-efficient than Ethereum and Bitcoin

Ethereum and Bitcoin blockchains operate on a proof of work system (PoW) system. PoW systems use a massive amount of energy to process transactions as miners compete to solve complex equations (i.e. the proof of work problem). The first computer to solve these math problems is compensated with valuable tokens. As the value of ETH and BTC tokens has risen over time, crypto miners have invested in ever more powerful mining rigs to more rapidly solve the blockchain proof of work problems. WAX is built around an entirely different transaction validation design, a delegated proof of stake system (DPoS).

Many NFTs are minted and traded on Ethereum. As we have noted, Ethereum requires an incredible amount of energy to process transactions. According to Digiconomist.net, a typical Ethereum transaction consumes 75.8 kilowatt-hours of energy. That is 125,000 times more energy than WAX requires. And consider that the process of minting, bidding on, and trading just one Ethereum NFT could easily exceed 5 separate transactions.

WAX NFTs have already offset almost 4 million tons of carbon emissions compared to Ethereum

If all of the NFTs minted and traded to date on WAX had been created on Ethereum instead, an additional 4 million tons of carbon dioxide would have been released into Earth’s atmosphere. According to the EPA.gov greenhouse gas equivalencies calculator, it would take 88.9 million tree seedlings grown for 10 years to sequester that amount of CO2 emissions. Put another way, creating NFTs on WAX instead of Ethereum has reduced carbon emissions equal to 5.9 billion pounds of coal being burned or 228 million trash bags of waste recycled instead of landfilled.

WAX NFTs are not just green, they are also affordable

If being green is not motivation enough to use the WAX blockchain for NFTs, keep in mind that WAX does not charge gas fees. Peer-to-peer trading is free on WAX.

With WAX DPoS, transactions are approved by 21 energy-efficient guilds delegated with that responsibility by WAX token holders. WAX token holders who stake their tokens are eligible to vote for their preferred guilds. Under WAX DPoS, there is no battle for computing power dominance as there is with Ethereum and Bitcoin PoW chains. This means that while Ethereum and Bitcoin grow in terawatts of energy each month, the energy consumption on the WAX blockchain is relatively stable.  

“WAX was designed from the beginning to be incredibly energy efficient. That is why WAX NFTs use a tiny fraction of the energy of Ethereum and Bitcoin. In fact, WAX is 125,000 times more energy-efficient than Ethereum and WAX is already carbon neutral.”

William Quigley, Co-Founder of WAX

You only pay commissions when selling your NFT on a WAX marketplace. The WAX Cloud Wallet is also far easier to use than equivalent Ethereum wallets. Want more motivation? Some of the biggest consumer brands are releasing NFTs on WAX making WAX the best place to buy and trade NFTs.

Carbon neutral since 2019.

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The Worldwide Asset eXchange is certified carbon neutral. Not only has WAX solved the environmental issues presented by NFTs minted on Ethereum, but also has an environmental mindset and is taking action to erase their carbon footprint. Working as a Proof of Stake system, creating carbon offset NFTs, and partnering with Climate Care, WAX has made huge strides in building a sustainable future.

Carbon neutral since 2019.

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WAX - A clean & carbon-neutral blockchain.