WAX Blockchain Unveils Web3 Masterplan

Leading NFT protocol, the Wax Blockchain, has unveiled its game plan for conquering Web3 in 2023. The protocol has managed to secure a portion of the NFT market by combining Web3 gaming with digital collectibles and high-quality brand collaborations.

Now, Wax has laid out its ambitious plan that aims to further advance it as a leading player in the space. The roadmap features improvements to the core technology and user experience, plus additional partnerships.

📣 WAX Roadmap 2023 | Cloud Wallet

Get ready for the launch of a full redesign of Cloud Wallet with a massively enhanced user experience & more features than ever, including a WAX <> ETH Bridge for 355M+ #NFTs.

Full Roadmap: https://t.co/xW4lyP8S2L | #WAXNFT $WAXP pic.twitter.com/5mZgReWIrH

— WAX Blockchain – WAXP (@WAX_io) January 29, 2023

The protocol plans to continue funding and working with the Antelope Coalition. The goal is to develop the Antelope stack and the core WAX blockchain protocol, its upgrades, and tooling. This implementation will take place throughout the year. However, for more scheduled improvements, starting in Q1, the platform plans to upgrade WAX Blockchain to Antelope 3.2.

In Q2 and Q3, there are plans to rebalance the tokenomics of the WAX Blockchain so as to improve its native token utility. In addition, to boost horizontal scalability, it plans to implement Inter Blockchain Communication (IBC). This should allow resource-intensive dApps to run on their own side chains, thus offloading resources and transaction throughput from the WAX Blockchain mainnet.

EVM Launch On Wax Blockchain

Within the same period, you can expect to see the launch of the Ethereum Virtual Machine (EVM), as it becomes part of the Antelope stack. This should allow developers coming from other blockchain ecosystems to work on and launch their projects on Wax with minimal code changes. Furthermore, users can expect to see upgrades that enable Antelope Instant Finality. This will reduce the protocol’s finality from 3 minutes to 2 seconds. As a result, the complexity associated with developing Web3 apps on the protocol is greatly reduced.

Additionally, expect to see improvements to the Cloud Wallet. In the first quarter, the protocol will launch the NFT bridge to Ethereum and the BNB Smart Chain. This applies to all whitelisted NFT collections on WAX and should help content creators easily reach audiences on other blockchain ecosystems.

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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.