OPSkins is the leading centralized marketplace for sales of in-game virtual assets and the number one bitcoin merchant on the planet. Globally, most users make micro-payments making the company a prime candidate regarding market size and user demand for a decentralized protocol. The founders of OPSkins unveiled a new platform for Virtual asset Trading called WAX which is a P2P decentralized platform for virtual exchanges. Using simple blockchain-enabled widget, WAX gives solutions to fragmentation and fraud allowing users to buy and sell efficiently without clicking off their game instantaneously.
WAX is powered by Delegated Proof of Stake (DPOS) consensus algorithm which utilizes “elected” nodes called Guilds; they are selected by users who vote for proposed delegates making WAX architecture democratic and decentralized. Each Guild is ranked by the number of votes it gets and weighted by whichever game it supports. Additionally, WAX Tokens find use in acquiring in-game items and smart contracts for buyers and sellers.
Malcolm CasSelle is the president of WAX and the CIO of OPSkins. He is a co-founder and CEO of Timeline Labs; this company makes tracking of all software companies based on social signals. Earlier, he was the Senior Vice President of Digital Media SeaChange Int’l and a co-founder of PCCW based in Hong Kong, which is currently valued above USD 35 billion. He has made investments in Facebook, Zynga and bitcoin companies; he makes his funds in big data and blocks chain verticals. He graduated from MIT with a bachelor in Computer Science and earned his Masters of the same from Stanford University. Malcolm CasSelle is fluent in both Japanese and Mandarin languages.
Although OPSkins has been successful in mitigating fraud, the use of smart contracts guarantees safe-delivery of the assets. This is good news for the users of centralized marketplaces for virtual assets have suffered from receipt of incomplete assets or delivery issues on the seller’s end. WAX eliminates the need for intermediaries thus solving most fraud problems. Smart contracts ensure elimination of most transaction intermediaries and guarantee that goods delivered. Both blockchain and smart contracts provide market efficiencies that a centralized technology cannot provide for its users. WAX delivers a broad and global marketplace that is optimal for users.