Beginners guide to WAX Blockchain

6 min readNov 21, 2021

MaxyLab NFTs are built on the WAX blockchain. While MaxyLab has no control over the blockchain, we know you might want some help. Below are answers to some of the most common questions.

What is WAX?

WAX or WORLDWIDE ASSET EXCHANGE is the most used and transacted blockchain ecosystem in the world for NFTs, dApps and video games — providing the safest and most convenient way to create, buy, sell and trade both virtual and physical items to anyone, anywhere in the world.

Known best as “The King of NFTs”, WAX is the leading NFT network and has successfully facilitated the trade of millions of NFTs from partners including Topps (Major League Baseball), Capcom (Street Fighter), Funko, Atari, Sony’s Funimation, and famous films (Princess Bride and SAW), world-renowned entertainers (Deadmau5, Weezer and William Shatner), and many more.

Furthermore, WAX has innovated vIRL® NFTs, which are different from the standard NFTs you’ll find on other blockchains. They feature a host of dynamic functionality including app/video game integrations, marketing tools and V-commerce capabilities — linking a vIRL® NFT to a real-world item, so you can transfer ownership without needing to physically ship anything until a collector is ready to claim it as their own. Every vIRL® NFT is minted on the energy efficient and carbon neutral WAX Blockchain that puts the environment first.

Why WAX?

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.

Playing NFT games is a way to take ownership of the games you play. With dApps running on the WAX blockchain, earning NFTs is easy. And thanks to the very nature of how our technology works, doing so won’t cost you a fortune in transaction fees either.

How to setup a WAX Cloud Wallet?

Setting up a new wax wallet should not take more than few minutes. Here is a complete guide on how to succesfully register yourself an account: How to create a free wax wallet.

How to buy WAX?

The easiest way to get WAX is to buy it directly from your WAX Cloud Wallet. After logging in, you will see a menu with an option to BUY WAXP (see image below). Clicking this option will show a list of crypto exchanges where WAX is available. Regulations vary from country to country (and state to state in the USA), and transaction fees vary depending on market and cryptocurrency, so do your own research before buying.

If you have tokens from other WAX games or projects, you can exchange them for WAX on Alcor Market or Alcor Swap.

The top cryptocurrency exchanges for trading in WAX stock are currently Binance, Mandala Exchange, Huobi Global, Upbit, and KuCoin.

What is CPU, NET, RAM and staking? How much do I need to stake?

Let’s imagine that the blockchain was an airport network. A blockchain network operates as an airport network, meaning there is no single master airport within the network; instead, every airport is an equal peer. Airport networks can be grouped as either cities, regions, or countries, but to simplify our analogy, we’ll use country. Within a country, you have many airports that are connected or linked together. These links between the airports represent the flights connecting those locations. So, in simpler terms, think of the airports as the nodes in the blockchain network; the blockchain connects the nodes in a decentralized network.

In the WAX ecosystem, the following resources get consumed by dApps:

NET — throughput capacity of the WAX network, measured in bytes

CPU — processing time of an action, measured in microseconds

RAM — stores data of dApps in the blockchain

You can see a direct representative video by clicking here.

By staking WAX, users gain access to additional CPU and NET on the WAX network. This allows for a better experience during busy times and enables a user to conduct multiple transactions in a short amount of time. There are no fees to stake or unstake, and you can earn a small amount of WAX back from the WAX you deposit.

New or infrequent users won’t have to worry about staking NET right away, but all users should stake some CPU as soon as possible. The amount depends on many variables, and there is no way to calculate an exact number. Most users find 10–40 WAX staked to CPU is more than enough at all but the busiest times, and won’t need to stake more than 1 WAX to NET.

If you are out of CPU and don’t have any WAX right now, don’t worry. The resources reset every few days, and you’ll be back in action in no time.

Q: How can I get my WAX back after staking it?

You can get your WAX back at any time, but you will have to wait 72 hours for it to be available in your account. View tutorials here or here.

Q: I just staked to CPU. Why do I need to stake more already?

The WAX user base is expanding rapidly, and resources are sometimes stretched thin. When many transactions are happening over a short period of time, you may find your CPU usage is higher than normal.

The amount of WAX you need to stake depends on many variables, and unfortunately, there is no good answer. Most users find 20–40 WAX staked to CPU is more than enough at all but the busiest times.

If you don’t have any WAX right now, don’t worry. The CPU resources reset every 24 hours, and you’ll be back in action in no time. You can also stake tiny amounts at a time. And, don’t forget you’ll earn rewards on everything you stake.

For more information, read an explainer from WAX here, or watch this video.

Q: I am trying to open a pack or buy a card, and I’m getting CPU error messages. Help!

If you get a CPU error when opening a pack, check the resources section in your WAX wallet or on your account on bloks.io (don’t forget to log in!) to make sure you have CPU available.

If you are out of CPU, you will see a number above 100%. Stake a bit more WAX, or if you have just completed a few transactions, wait a few minutes for the number to drop back below 100.

Q: I’m trying to open a pack, and I’m getting RAM error messages. Help!

Infrequently, the MaxyLab RAM resources are exceeded. If you get an error message stating that the NFT creator is out of RAM, you are welcome to drop a note about the error in Telegram or Discord. Or try again in a few minutes.