OPSkins is the number one Bitcoin merchant on the planet. The company’s CIO is Malcolm Caselle and through his leadership, they have managed to dominate an industry which is as competitive as it is challenging to operate in. The company has a huge following from their consumers who make cross border micropayments, and especially those in the gaming industry. Even though the industry has been expanding, there are still many limitations to the technological ability of the company, especially when it comes to the use of centralized technology. The company, therefore, feels that it is time to decentralize their virtual assets so that their business can expand.
The new idea that the company has is known as WAX, short for Worldwide Asset Exchange. The platform will be a peer to peer marketplace where virtual assets built on a block chain of decentralized smart contracts will be made possible. The setup is aimed at making sure that traders are in a position to efficiently trade assets with each other, regardless of their location.
There are two main issues which have been plaguing the world of cryptocurrencies and micropayments, fraud and fragmentation. The new platform seeks to resolve both problems while at the same time allowing the players to buy and sell virtual goods without logging out or stopping their game. The greatest challenge that the world of cryptocurrencies has been experiencing is the different standards and regulations which exist within the different countries where gamers operate. The new technology allows gamers to tokenize their assets. Tokenization, therefore, allows them to buy and sell items off the virtual marketplace without the current hurdles which are part of the buy and sell process.
The new technology is powered by the delegated proof of stake (DPOS). It has one of the fastest consensus algorithms and is the most decentralized and flexible models available in the market. The fraud hurdle is eliminated by removing intermediaries.
About Malcolm Caselle
Malcolm is the current president of WAX and the CIO of OPSkins. He has worked in other companies such as Tribune Publishing, SeaChange International and other companies. Malcolm Caselle has a wealth of knowledge in digital currencies and hopes to use his experience to solve all problems affecting the current marketplace.