WAX to MATIC: Time to Swap?
Decentralization has led to the emergence of hundreds of new altcoins, NFTs, and stablecoins with varying use cases. Among these new crypto are WAX and MATIC, two exchangeable tokens that are a must-have for anyone looking to invest in blockchain.
In this article, we highlight the significance of both tokens in the crypto market. We go on a deep dive into the current market analysis to help you decide if it’s the right time to exchange WAX to MATIC or if you are better off hodling your WAX in 2024.
Both WAX and MATIC have played a huge role in increasing the adoption of cryptocurrencies over the last five years. MATIC has helped ease the pressure on the main Ethereum chain by hosting others on a parallel blockchain allowing for quick transactions and low gas fees. On the other hand, WAX has revolutionized the online gaming industry by allowing participants to easily create and sell collectibles without the need for intermediaries.
MATIC is the gas token that helps run the Polygon blockchain. Polygon is a layer-2 platform launched on Ethereum in 2017 as Matic Network — rebranded as Polygon in 2021.
Polygon is considered a Swiss army knife for Ethereum’s scaling problems. The network offers EVM compatibility which increases the network’s scalability and transaction speeds. Polygon uses a proof-of-stake (PoS) mechanism that is made possible by MATIC. The token can be used to stake on Polygon and interact with all other popular crypto blockchains that were previously only accessible through the main Ethereum blockchain.
MATIC can be used to help developers build dapps in the Polygon ecosystem. It is also used in the governance of Polygon.
Worldwide Asset Exchange (WAX) is a gaming-focused layer-1 blockchain with a
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