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ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Name | Bitpanda Asset Management GmbH, Bitpanda GmbH |
Relevant legal entity identifier | 9845005X9B7N610K0093, 5493007WZ7IFULIL8G21 |
Name of the crypto-asset | WAX |
Consensus Mechanism | The WAXP blockchain utilizes a Delegated Proof of Stake (DPoS) consensus mechanism designed to provide scalability, low latency, and decentralization, while ensuring efficient transaction processing and network security. Key Features of WAXP's Consensus Mechanism: 1. Delegated Proof of Stake (DPoS): Token holders vote for block producers (BPs), who are responsible for validating transactions and producing new blocks. The voting power is directly tied to the amount of WAXP tokens held, with token holders able to vote for up to 30 block producers at a time. This system ensures decentralization while maintaining high network throughput. 2. Block Production: Block producers take turns producing blocks in rounds, with each block producer having an equal chance to validate and produce blocks in their turn. The process ensures that all transactions are processed efficiently, and the network remains fast and scalable. 3. Finality and Security: Once a block is produced and validated by a sufficient number of block producers, it is finalized and added to the blockchain. This prevents forking and ensures high security and immutability for the transactions. 4. Incentives for Participation: Block producers receive WAXP tokens and transaction fees as rewards for their participation in block creation and validation. These incentives encourage active participation in maintaining the network's performance, security, and decentralization. |
Incentive Mechanisms and Applicable Fees | WAXP uses a Delegated Proof of Stake (DPoS) consensus mechanism to incentivize network participants. Incentive Mechanism: 1. Block Producer Rewards: Block Producers (BPs) earn WAXP tokens and transaction fees for validating and producing blocks. These rewards encourage active participation. 2. Voting and Delegation: Token Holders vote for block producers and can delegate their votes to trusted producers, earning rewards based on their delegation. 3. Active Participation: Block producers and voters are rewarded with WAXP tokens and transaction fees, promoting a secure and decentralized network. Applicable Fees: 1. Transaction Fees: Transaction fees in WAXP tokens are paid for every transaction, helping incentivize block producers and maintain the network. 2. Network Resources: Users stake WAXP tokens to access resources like RAM, CPU, and bandwidth for transactions and smart contracts. 3. Fee Redistribution: Transaction and resource fees are distributed to block producers, rewarding their participation in securing the network. |
Beginning of the period | 2024-09-09 |
End of the period | 2025-09-09 |
Energy consumption | 54750.00000 (kWh/a) |