WAX (Worldwide Asset Exchange) is a large blockchain for NFT. It is well known for its low energy consumption, which, according to data from ClimateCare.org, is around 0.000223 terawatts per year. Compared to Bitcoin, WAX is 66,454 times more efficient. The presentation of the hand limit is the main source of low power
The power is derived from the blockchain consensus algorithm used by WAX. This is called Delegated Proof of Stake (dPoS), which was developed by Daniel Larimer in 2014. Although it works in the same way as proof-of-ske, there is an important nuance.

In dPoS, token holders do not automatically approve transactions. Rather, WAXP token holders are delegating support services to others through their voting. Delegates work as block producers and are responsible for having agreements when creating and validating new blocks. In a dPoS system, there can be between 21 and 100 unique delegates. WAX uses a 21-delegate approach where the delegates (or block producers) are known as "WAX guilds".

The success of dPoS is highly dependent on the reputation of the guilds. If the selected members are not performing well, the token holders can easily choose a new one. This is why, although the system is centralized, dPoS can process more transactions per minute (TPS) in many cases compared to proof. How does the voting process work?
WAX encourages community participation in electing guilds by distributing rewards to candidates. To vote, you must hold WAXP tokens in your WAX Cloud wallet and deposit them.

In order to get paid rewards, you must vote for at least 16 guilds. But, for many people, this way of voting is difficult, because finding the right representatives takes time. So you can also vote through proxies that do research and vote for the best guilds. You can search for wax proxies here.

Each month, the WAX ​​community selects 21 active and 10 pending guilds. The Office of the Inspector General's WAX publishes a monthly report, the committee's main task is to look at all guilds to judge their contributions and living things in WAX.

With effective community involvement in the voting process and the use of a proven consensus-building process, NFT environmental partnerships are possible.
Source: NFTNewsToday.com
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