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WAX Solving Voter Apathy Problem Plaguing DPoS-Based Blockchains by Incentivizing Voting

Vlad Poptamas

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Photo source: BlockchainGamer.biz
Reading Time: 3 minutes

 

Worldwide Asset eXchange (WAX), the world’s first protocol blockchain purpose-built for e-commerce, today announced its WAX Block Rewards and Genesis Block Member programs. These programs reward WAX Token holders daily with additional tokens by incentivizing them to:

  • Vote on block producers (called WAX Guilds) and blockchain improvement proposals. These rewards are called Staking Baseline Rewards.
  • Remain long-term participants of the WAX ecosystem. These rewards are called Genesis Block Member rewards.

For blockchains that use Delegated Proof of Stake (DPoS) as its consensus mechanism like WAX, voting is crucial for healthy development. Token holders are incentivized by self-interest to vote in the protocol’s best interest. For example, if token holders were to vote in favor of a proposal that positively affects the protocol it would enhance usability and overall usage. Self-interest will drive the best decisions. The WAX team understood the dire need to incentivize voting after seeing how detrimental voter apathy has been to other DPoS blockchains.

By voting regularly, WAX Token holders contribute to the selection of quality guilds and proposals – supporting the overall health of the WAX Blockchain. WAX is ushering in a new era of blockchain communities that are active and engaged in a chain’s development because they are incentivized with rewards in the form of more tokens, called Staking Baseline Rewards.

Additionally, WAX is incentivizing WAX Token holders to become long-term-oriented community members who take part in the WAX blockchain’s healthy development by offering Genesis Block Member rewards which provide a way to double their token holdings over three years.

Earning more WAX Tokens through rewards:

When the WAX Blockchain mainnet and protocol token are released on June 30, 2019, WAX Token holders will have three ways to earn more WAX Tokens:

Staking Baseline Rewards: WAX Token holders can earn additional WAX Tokens every day with Staking Baseline Rewards, simply by voting for WAX Guild candidates. A set number of WAX Tokens will be allocated each day for Staking Baseline Rewards. The number of tokens that each individual WAX Token holder receives daily depends on their stake weight, relative to other stakers. For example, if a voter’s stake weight amounts to 0.5% of the aggregate stake weight on any given day, the holder will receive 0.5% of the daily Staking Baseline Rewards amount. More information on Staking Baseline Rewards can be found here.

Genesis Block Member (GBM) rewards: Participants of the GBM program will receive daily token rewards for three years, up to double their starting amount. For eligibility, members must participate in the WAX Token Swap that begins on June 30, 2019, where they will receive Genesis WAX Protocol Tokens. Genesis WAX Protocol Tokens will continue to produce GBM rewards every day as long as they remain staked and by leaving them uninterruptedly staked for three years, holders can double their token amount. More information on the GBM program can be found here.

WAX Guild Rewards: The WAX Blockchain is designed with 21 WAX Guilds who earn rewards for producing blocks. These WAX Guild Rewards are granted based on the number of blocks produced by each WAX Guild. 36 standby guilds can also earn a share of WAX Guild Rewards.

“The WAX protocol uses a delegated proof of stake mechanism to validate transactions rapidly and cheaply,” said William Quigley, CEO of WAX. “DPoS is well-suited for high volume industries like e-commerce and virtual item trading, where fast processing time is expected. But DPoS does have a drawback. It depends on a continuous process of voting. Voter apathy is the kryptonite of DPoS. So we’ve designed WAX with multiple incentives to boost voter participation.”

Even more ways to earn WAX Tokens are coming in the future including additional types of WAX Block Rewards, becoming a dApp developer, becoming a Transfer Agent, and the WAX Marketplace program.

WAX Token holders can convert their ERC-20 WAX Tokens to Genesis WAX Protocol Tokens from June 30, 2019 to August 30, 2019. More information about the token swap can be found here.

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Blockchain

Supply Chain Management Association Becomes Supply Chain Canada

Vlad Poptamas

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At its AGM yesterday, the Supply Chain Management Association™ announced its name change to Supply Chain Canada™. The association also launched a new website as part of an overall rebranding initiative.

“The new name and look are part of a transformation that we have undertaken as the association enters its second century,” said Christian Buhagiar, President & CEO of Supply Chain Canada. “Today’s supply chains are dynamic and fast-paced. The association for Canada’s supply chain professionals must reflect that.”

Through the rebranding process, the association has also acquired a meaningful new logo and tagline, “Professionals advancing the future.”

The logo’s maple leaf design not only conveys our nationality; it also represents the connectedness of the supply chain, illustrating the networks and collaboration that are so essential to supply chain success, and the interconnectedness of the association’s federation, institutes and members. Its connected dots can be seen, as well, as the complex route of a global supply chain.

“Professionals advancing the future” succinctly communicates both the professional status of supply chain practitioners and their forward-looking perspective. It is intended to:

  1. Elevate the perception of supply chain practitioners as professionals, acknowledging the value they bring to their organizations and to the Canadian economy.
  2. Encompass the several ways that the association and its members “advance” – in their personal careers and knowledge, and for the profession, the country and the economy.
  3. Express the future focus of the association – with its emphasis on the development of skills and policies – and of the supply chain itself, now so focused on AI, blockchain, robotics, automation and so on.

The new website, now at www.supplychaincanada.com, is enhanced with a modern look and new functionality that enables location-based content for users across Canada.

These changes are not simply style enhancements. They are part of a larger plan to strengthen the association. Supply Chain Canada consolidates the organization’s brand across the country under a single name in every province and territory, removing any possible confusion from its federation structure. “The unity that this will ensure will help us improve recognition in the sector, and thereby provide stronger leadership to the Canadian supply chain community,” said Buhagiar.

The association’s transformation began in 2018 with a new vision and mission, as well as an ambitious three-year strategic plan. The new name and rebranding announced yesterday are part of a larger evolution that will continue over the next two years with the introduction of new and revised educational offerings, new initiatives to engage with industry, more value-added membership benefits and more.

 

SOURCE Supply Chain Canada

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Blockchain

Export Portal to Address Best Practices in Sustainable Trade Facilitation at the Asia-Pacific Trade Facilitation Forum

Vlad Poptamas

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Export Portal to Address Best Practices in Sustainable Trade Facilitation at the Asia-Pacific Trade Facilitation Forum
Reading Time: 2 minutes

 

Export Portal CEO Ally Spinu will be adding her take on the alignment of trade facilitation and sustainable development goals at a session at the 9th Asia-Pacific Trade Facilitation Forum (APTFF) in New Delhi.

“The Asia-Pacific region is a wealth of unexplored opportunities which lay deep in the communities of local businessmen and women that just need support in bringing their amazing products to the world to see and buy,” Ms. Spinu said. “I am looking forward to this event and being a part of the change that will help local businesses from this part of the world sell their products globally. I deeply believe that shifting attention to developing SMEs is the major change international trade and local economies have been waiting for.”

This year’s APTFF will focus on how digital and sustainable trade facilitation measures and practices can bring prosperity in the Asia-Pacific region. The forum will investigate opportunities from trade digitalization for sustainable progress of the area and challenges ahead in materializing such opportunities. APTFF will feature panel discussions as well as interactive and informative sessions. These sessions will allow participants to share experiences and perspectives on different aspects of trade facilitation, including trade finance, cross-border eCommerce and paperless trade, transit, innovative application of emerging technologies, and more. APTFF will bring relevant regional initiatives and implementation cases to each session, making it a unique opportunity to share knowledge and practical lessons. The forum will also include many side-events providing a more in-depth exploration of the pertinent trade facilitation issues.

“Agricultural products are the fastest category and industry growing within Export Portal, and I can say that is just natural that SMEs around the world are actively looking for new ways for selling their products around the world,” Ms. Spinu said. “The role of innovative technologies such as Export Portal is crucial in helping these SMEs integrate within the world supply chain of food with ease and at optimal costs. I want to explain the current issues existing within SMEs’ integration in international trade due to the high cost involved and how technology slowly but surely changes this.”

Export Portal’s trade goals align directly with the purpose of this session, as its international B2B trade platform is an affordable and all-encompassing solution for SMEs all over the world. The features that are available and being developed on Export Portal, such as the panel of experts (EP+), the educational hub (EPU), and data flow insights (EPI), provide SMEs with the resources they need to trade effectively on an international scale safely, securely, and efficiently.

The Digital and Sustainable Trade Facilitation for Regional Prosperity session is co-organized by ADB, ESCAP, Ministry of Commerce, India and Confederation of Indian Industry and will be held on Wednesday, September 18, from 9:00 to 10:45 AM.

 

SOURCE Export Portal

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Blockchain

Crypto.com Lists Lisk (LSK)

Vlad Poptamas

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Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Lisk (LSK) to its App. LSK joins a growing list of cryptocurrencies and stablecoins on the Crypto.com platform, such as Bitcoin (BTC), Ether (ETH), Litecoin (LTC), XRP, TrueUSD (TUSD), PAXOS (PAX), and its own MCO and CRO Tokens.

Lisk is a next generation platform that allows for the development and distribution of JavaScript based decentralized applications using an easy to use, fully featured ecosystem. Through Lisk, developers can build, publish, distribute, and monetize their applications within a custom built cryptocurrency powered system that utilizes custom blockchains, smart contracts, cloud storage, and computing nodes; all from within one industry solution.

With LSK added to the Crypto.com, users can now purchase it at true cost with no fees – credit card and bank transfer both supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to LSK as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally.

 

SOURCE Crypto.com

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